Expected DA for Bank Employees from February 2018
Expected DA for Bank Employees from February 2018 - In terms of clause 7 of the IOU' Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, Expected DA for Bank Employees from February 2018 , March 2018 and April 2018 may be 52.70 % of 'pay'.
Government announced Consumer Price Index (CPI) data for the month of Oct 17. On the basis of CPI data announced by the Govt for the month of OCT 17 to DEC 17, as tabled below, there is an increase of 17 DA Slabs payable for the period of February 2018 , March 2018 and April 2018.
On the basis of CPI data announced by the Government for the month of October 2017, November 2017 and December 2017, the DA for Bank Employees from Feb 2018 is to be 52.70%.
Consumer Price Index (CPI) published by Labour Bureau With 2001 as Based Year
- October 2017 = 287
- November 2017 = 288
- December 2017 = 286
Consumer Price Index (CPI) published by Labour Bureau With 1960 as Based Year
- CPI for October 2017 = 287 x 4.63 x 4.93 = 6551.03
- CPI for November 2017 = 288 x 4.63 x 4.93 = 6573.85
- CPI for December (Expected) 2017 = 286 x 4.63 x 4.93 = 6528.20
Calculation of Expected DA for Bank Employees from February 2018 :-
- October 2017 - 6551.03
- November 2017 - 6573.85
- December 2017 - 6528.20
- DA from Nov Dec Jan 2017 is 51.60% for Bank Employee
- Delay in Bank Wage Revision UFBU writes to Government
DA for Bankers from February 2018
- Average CPI is (6551.03 + 6573.85 + 6596.68) / 3 = 19653.08/3 = 6551
- Deduct 4440 slabs from average CPI (6551 - 4440) = 2111
- Divide 1913.20 by 4 to convert to quarterly DA slabs (2111/4) = 527.75 or 527.
- DA Slab for next Quarter will be 527.
- Multiple 533 with 0.10%, is payable as DA = 527 x 0.10% = 52.70%
- So DA Payable for for February 2018, March 2018 and April 2018 will be 52.70%.
- Slabs for February 2018 - April 2018 = 527.
- Number of slabs for the Previous Quarter (Nov 2017 - Jan 2018) = 516 slabs
- Increase in the slabs for the current quarter = (527 - 516) or (52.70% - 51.6%) = 11 slabs or 1.1%.
- So, DA for Bank Employees from Feb 2018 is increased by 11 slabs for the month of February 2018, march 2018 and April 2018.
