Thursday, October 10, 2019

announcement latter of october salary before diwali

7th Pay Commission: The Central government has announced bumper Diwali bonanza for Group B and Group C non-gazetted central government employees under the Non-Product Linked Bonus (NLPB). Making this announcement in the first week of this month, 4th October, the Central Government's order for the NLPB is mentioned as an ad-hoc bonus, and this will be given to those employees who are working with the central government but are not eligible for the NLPB.
Speaking on this matter, Harishankar Tiwari, Former Chairman at AG Brotherhood — a Prayagraj-based institution said that the central government provides NLPB ahead of festivals, and this year's bonus is of 30.4 days salary and it would come at Rs 6,900. This bonus has also been extended to the Central Armed Forces' and Para Military Forces' employees. He further informed that the employees belonging to Central Armed Forces and Para Military Forces would get bonus around Rs 7,000.
According to the October 4th order, those central government employees who were in service till 31st March 2019 and during 2018-19 completed six months of their services are eligible for the ad-hoc bonus, said Tiwari, adding that the formula for calculating theThe Indian Railways has already announced 78 days bonus for its non-gazetted employees of Group B, Group C and Group D to benefit about 12 lakh non-gazetted employees. The announcement has extended benefit of Rs 17,951 as bonus to these staff ahead of Diwali festival.
Notably, over one crore central government employees as well as pensioners are still waiting for the Modi's government's announcement for dearness allowance hike which is being awaited to be announced in the Union cabinet meeting. But the announcement of assembly elections in the two states of Haryana and Maharashtra is stated to have delayed the announcement

Deepawali bonanza for bank employees:  Around 14 lakh bank employees are in for a festival bonanza with the Indian Banks’ Association asking top managements of private sector, public sector and foreign banks to pay one month’s salary as advance ahead of Deepawali. It has been decided that pending the wage revision talks, an ad hoc amount, equivalent to one month’s salary (basic plus dearness allowance) may be disbursed to all permanent workmen, staff, and officers, said a letter signed by VG Kannan, Chief Executive of the Indian Banks’ Association.
The IBA letter dated October 1, which was reviewed by the Financial Express Online, states that this one month salary will be paid only to those permanent employee who were on the bank’s roll on November 1, 2017 and who are still in service.
Those bank employees who have joined the service between November 1, 2017 and March 31, 2019 will be paid half the amount (15 days salary – basic plus DA).
However, this advance to be paid to nearly 14 lakh bank employees during the festive season will be settled against the payment of arrears following the signing of a wage revision settlement between employees and management of the banks.
“Bank employees may be advised by the concerned banks that the ad hoc payment is being made to them as a gesture of goodwill…and the amount being paid now will be adjusted against the actual arrears payable (to employees),” said the IBA letter to the concerned banks.
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