Friday, May 22, 2015

Wage Revision And Saturday Off

Times Of India Vadodra 23rd May 2015

The new wage revision agreement is going to be signed with the industry body Indian Banks Association (IBA) on Monday, one of the heads of the unions said on Friday.

Really it seems to be the  departure from the current practice, where employees work for half-day on Saturdays. To compensate for this, they have agreed to work full day on alternate Saturdays.

There is a news of the signatories may be the existing employees/GSs to avoid the industry level disputes.

A hike of 15% with the BP load of 2% will
which will result in an additional salary burden of Rs 4,725 crore per year to the system the sources said.
A senior IBA executive also confirmed in Mumbai that the agreement will be formally signed on Monday.

Govt seems to be positive on Saturday issue to this chill.

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