Bank Employees: Good news for bank employees, along with 17% salary increase, they will get 5 big benefits…

Top 5 benefits PSU bank employees: Lottery has been started for bank employees. After the decision taken by IBA, there has been a monthly increase of 17 percent in the salaries of the employees. Along with this, one can also get the benefit of dearness allowance. The increase in salary will be effective from November 2022. After the decisions taken by the bank union and the government, the employees are going to get 5 big benefits.

1] 17% salary hike –

There is great news for PSU bank employees. The government has increased the salaries of bank employees by 17 percent. This decision, which will be effective from November 1, 2022, will benefit about 8 lakh banking employees. According to the joint announcement, this will impose an additional burden of Rs 8,284 crore annually on public sector banks.

2] Merger of DA –

After IBA, Bank Employees Union Pact Agreement, it has been decided to merge DA of 8088 marks in the new pay scale of PSU bank employees. The new pay scale has been determined by including Dearness Allowance (DA) of 8088 marks and additional weightage thereon. 8088 points of DA allowance have been merged in the new pay scale. Along with this, 3.22% of basic pay and 30.38% of DA and after merger 4.20% will also be included.

3] Work 5 days a week –

It has also been said in the joint declaration that the decision to make PSU bank employees 5 days a week can also be implemented soon. Approval can be given on this also. With this decision, about 8 lakh officers and employees of government banks will start getting the benefit of increased salary and one day extra leave in a week. All banks will remain closed every Saturday after 5 working days.

4] Rework on DA formula –

5] New Pay Scale –

The new pay scale is effective from 1 November 2022. In this, employees falling in the pay range of Rs 48,480 to Rs 1,73,860 will be covered. That means employees from scale I to VII will get the benefit.