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 something like the fixed allowance as per the scale.
This Grade Pay will be added to the salary as per the certain percentage of the Basic Pay scale wise. For e.g. 15% of Basic Pay or etc.
What I understand, it will increase the simple percentage of salary nothing else ? The actual settlement with 2% load in very less.