This is what has been finalized and will be
signed by IBA and UFBU latest latest before
15th Oct 2020. New salary will be from Nov
2020. Arrears of 36 months will be paid
before Navratri I.e. before 27.10.2020 (after
deducting arrears already paid last year)
--New Basic to be 1.515 times existing
basic.
--Special Allowance 15.50% of new basic
--HRA at 7/8/9 % based on area
classification
--CCA, PQP etc fixed at 1.515 times
existing levels
--Medical fixed at 12,000 from existing
8,000
--P.F. deduction continues at 10% of new
basic
--14% employer contribution for NPS.
-- NPS Employee contribution kept constant
at 10% (Basic pay plus DA)
--PLI formula same as per MOU.
Further, LEVY amount has been finalized by
UFBU @ 2% of gross arrears
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