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WELCOME TO MY BLOG!
WELCOME TO MY BLOG!

Dear reader!


*Please send news related to Bank Employees and your Queries, to my e-mail vetrinicchayam@gmail.com*

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*****CURRENT NEWS******

*Consumer Price Index number for July is 252 & for Aug& Sep is 253 i.e 8.66s point over average of last quarter.

Hence D.A from Nov 2014 is 732 slabs(+49slabs)
i.e 109.80% (+7.35%)

*No progress on Talks on 10thB.P.S between IBA and UFBU on 26.09.2014. One day strike announced (date not yet decided.).

*IBPS CWE-III-Clerk-Batch-II, 2014-15 –INDIAN BANK:
date of induction training for Clerical Candidates – Batch II, scheduled from 07.10.2014 to 18.10.2014 stands deffered. Date of training will be informed in due course.

*Is ESOP on cards for Bank Employees?

* Revised LFC encashment amount from 25.06.2014!

*Compassionate appointment for Bank Employees restored from 05.08.2014!

*D.A. rate for Aug ,Sep ,Oct 2014: 102.45%

Sunday, June 9, 2013

KNOW HOW D.A. IS CALCULATED!

Many readers (especially junior employees) raise doubts about the meaning of 
“Merger of D.A at 4879 points” as mentioned in 07.03.2013 talks..
Also comment on the delay in the process of wage revision talks.
Hence I will post  about the significane of merger of D.A. with Basic Pay,
And the process of wage revision talks in the banking industry.
Those who already know about these subjects may explain to their juniors in the branches.
Others pl. read/understand and tell others.
Before that for ur inderstanding I give below the details of how D.A is calculated.
RE-POSTED:

KNOW HOW D.A. IS CALCULATED!

  1. Labour Department will release Consumer Price Index (No.)
    every month ,based on year 2001.

  1. Jan,Feb,March is one quarter. Likewise there are 4 quarters.

3.Difference between average CPI over average of previous quarter is called increase.

4.Bank D.A is calculated on CPI based on year 1960.

5.Conversion factor to year 2001  is  Index No .X 4.63 X 4.93

6.For every increase of 4 points 1 slab at the rate of 0.15% is given as D.A

7.Since everymonth’s CPI is announced on the last day of next month D.A is given effect on the subsequent month. i.e 2 months later.

EXAMPLE: for D,A Feb 2012:
APR   MAY  JUN  JULY  AUG  SEP      OCT NOV DEC
---------------------------------------------------------------------------
  186      187    189      193      194  197       198  199  197
---------------------------------------------------------------------------
  Feb,Mar,Apr.
Average of Oct,Nov,Dec 2011                                              =198
On conversion =Average O N D 2011(198X4.93X4.63)        = 4519.53 
D.A already paid for Nov. 2011 (i.e average of Jul,Aug,Sep)= 401 slabs = 401X4+2836  = 4440.00
 (2836 is already merged point in 9th b,p)

Increase                                                               = 79.53
        
Slabs                                                                    =79.53/4=19.88=19

(ONLY WHOLE NUMBERS ARE TAKEN.
DECIMELS ADJUSTED IN THE NEXT MONTH )
HENCE INCREASE FOR Feb 2012 is 19x0.15=2.85% of(B.P+SPL.ALLOW.+PQP)
 
 Toal D.A for Feb,Mar,Apr 2012=401+19=420 slabs=60.15%+2.85%=63%

****************************************************



6 comments:

Anonymous said...

thank you, nice information

Anonymous said...

Thank you very much for giving valuable information. I am a newly recruited person in bank. By reading this, I got an idea about the DA caluclation. Thank you once again.-RAJNIKANTH GANGINENI

Anonymous said...

Thank You Very Much for making us aware of all these valuable information with detailed study.

Kotica Sudhakar said...

The topic is informative. Is there any other method?
How conversion factors are arrived at?(4.63 & 4.93)

Anonymous said...

Sir, I am an Ex Service men.I have newly joined the bank service.Can any member of any bank tell what is the IBA circular for Graduate increment/any reference or if possible full circular can be posted at this valuable platform.I did Graduation in single sitting(1 Year) from Osmania University Hyderabad,This 01 year Graduation was recognised by UGC till 1995-96, I did in the year 1991. Bank has not given me Graduate increment saying this was not 03 years course.But Why then a govt body like UGC recognised 01 year Graduation.It is now stopped w.e.f 1995-1996.
What is my fault?Kindly help and oblige, Thanks in anticipation.

Ajay said...

Fake notes deduct machines should be provided to every branch of Pnb.