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Wage Revision

10th Bipartite Introduction of Grade Pay System

10th Bipartite Introduction of Grade Pay System for Bank's employees. In the 10th Bipartite Settlement between IBA and Bank's Employees Union signed on 23rd Feb, Introduction of Grade Pay system was discussed. After two months of signing the agreement there is no formal knowing of Grade Pay system, it's structures etc. Although there is no formal talk on this but we assume that the Grade Pay will be fixed in nature added to salary without Dearness Allowance. This will be...

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Banking News

Economic Survey Highlights

Economic Survey Highlights  - Finance ministry's chief economic adviser Arvind Subramanian has presented the Economic Survey forecast for 2015-16 which pegs the growth at 8%. India’s economic survey has forecast the growth at more than 8 per cent for the next fiscal. It is also said that Inflation has fallen 6% Point since 2013. Economic Survey Report also state that Foodgrain production for year 2014-15 is estimated at 257.07 million tonnes compare to last years by 8.5 million tonnes. [button color="blue" size="big"...

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Banking News

Saturday Arrears Paid To Bankers Since November 2012

10th Bipartite Settlement -  Indian Banks Association (IBA) agreed for a 15% rise in wages. Banks will also henceforth remain closed on alternate Saturdays. There was immense confusion among Bank Officers and Clerks whether Saturday off would be implemented from Nov 2012 or since 23-02-2015. IBA has also agreed for a two Saturday holiday with retrospective effect from November 2012. The arrears for the Saturdays worked will also paid with retrospective effect from November 2012. Union Says "Saturday remaining closed is...

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Banking News

10th Bipartite Settlement Calculator For Clerks

10th Bipartite Settlement Calculator For Clerks - 10th Bipartite settlement is finally over and now time to know the revised salary. The calculation of the Revised salary is little complicated as the salary has been revised since 01st Nov 2012 with arrears needed to be paid after deduction of Income Tax and other levies. Here I have created a simple arrears calculator for easily calculate the Revised Salary of the Clerk Employees with Public Sector Banks and Arrears expected to...

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Income Tax

Download Income Tax Calculator For FY 2014-15

Income Tax Calculator For FY 2014-15 - Download the Income Tax Calculator for FY 2014-15 or AY 2015-16. This Income Tax Calculator is created through excel utility with latest income tax slabs. Income Tax Calculator Utility is helpful for bankers especially which included all the forms in one i.e. You can generated the following statement through this utility 1. Earning Record of Individual Employee 2. Deduction Form with Challan Details 3. Auto Generated Tax 5 for investment 4. Automatic Generated...

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Banking News

10th Bipartite Chart For Revised Salary Scale Wise – Officers

10th Bipartite Chart For Revised Salary Scale Wise for Officers - The Recent increase in Salary for Bank Officers w.e.t 15% hike...

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Banking News

Major Benefit – 10th Bipartite Settlement

10th Bipartite Settlement - The 10th Bipartite Settlement was agreed and accepted at 15% hike by IBA. Now there are major other benefit which are provided to bankers as per the settlement. [button color="red" size="medium" link="http://www.askbanking.com/10th-bipartite-settlement-calculation/" target="blank" ]Calculate Your Salary Arrears[/button] The Major Benefit on Hospitalization, Medical and others are as follows : 1 Hospitalization reimbursement is 100% for both self & Dependent. 2 There is no limit/cap for the tests etc. 3 Normal delivery charges is reimbursable up to Rs...

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Investment

Difference Between ELSS Vs ULIP ?

ELSS Vs ULIP - What are the differences between ULIP Vs ELSS investment ? This is the common investment queries raise by almost all the new investor. The major difference between ELSS and ULIP investment are : ULIP : Unit Linked Insurance Plan -  is comprises of life insurance and investment offered by life insurance companies generally. The tax saving instrument but the returns are lower and non predictable including cost. Such Investment has five year locking. ELSS : Equity...

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