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Views of Readers Regarding Wage Revision Settlement
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Kumar Sujeet ; Anad Agrawal ; Bipin Yadav Surya Kumar Jha ; Nitu Singh ; Rashmi Jha ;Puja Verma Ved PrakashIndu Jain says All of us now realize that our union and IBA has cheated the Pension optee and Junior Officer by giving less salary hike and they want not to give salary for 48 days of work(1.6 times of Nov 2007 revised salary) in the name of pension load. More interest we have to pay income tax on the Gross arrears so after deducting income tax and pension cost we are going to get nothing from the efforts made by the our So called union (Instead of our we can say that Union of Provident fund op tee and retired employee). In my opinion if Union is not taking interest for the service condition of existing employee why we should be the member of such union. To the best of my knowledge at Present in Banking industry about 15 % people are PF Optee and all of these people join PF voluntary because they think PF is better than Pension and now they are thinking Pension is more benefited than PF they want to opt. Pension. In simple word wage of the Pension op tee is defined by the thinking of PF op tee and due to change of his thinking now 85 % people are going to suffer due to penny wage increase and 48 days loss of pay with Taxable pseudo arrears. As per Constitution of India, No body has right to not give the salary for the work done by any body, and doing such type of agreement by IBA and UFBU is totally unconstitutional and it may attract legal action. I have contacted our colleague and we have decided to resign from the union and initiate legal action against the Bank Management represented by IBA. Initially we have file complain in Public Grandnieces and planning to file suit. So we request all of victim of 9th Bipartite settlement, to protest against the Union for doing injustice for majority of the staff for pension option. We also request you to give your suggestion, Idea, Legal point which will help us in filling suit or in court
Kajal says :
There has been a
major flaw in framing the settlement amount to be made by the retirees
who will opt for pension. This is as per the information provided on the
various banking sites.
It is mentioned that all retirees who
will opt for pension will have to pay 156% of bank’s contribution (100%
bank’s PF contribution is to refunded and 56% more has to paid from
employee’s share) Rajendra Kumar says
As all bankers know that
union leaders have cheated them, to increase arrears amount for
compensating contribution to pension fund, they have deliberately
delayed the settlement. Ashutosh says I was working in UCO bank as Scale I officer from 16 august 2007 to 30 June 2008 and pension was compulsory for me.( No option is being given to those aged below 35 and joined after the date of implementation of pension regulations. I think my arrears will be as under : 14500 x 1.6 = 23200 – arrears payable to me( around 17000) = 0 I feel that all the existing pension optees should resign from these criminal unions. Vinayak Chowdhury says Consider that there are two employees. 1. Mr. Pensionwalla who had opted for pension at the first attempt itself. As per the prevalent conditions then, the entire accumulated Bank’s contribution to PF was transferred to the Pension fund. After that, every month, the Bank remits an amount equal to the PF contribution to the Pension Fund 2. Mr. PFwalla who due to any reasons did not opt for pension at the first attempt. As per the service conditions, the entire accumulated Bank’s contribution to PF is accumulated with the PF Trust maintained by the Bank Both Mr. Pensionwalla and Mr. PFwalla have not got any pecuniary benefit of the amount lying accumulated either with the Pension trust or the PF trust. Both Pensionwalla and PFwalla are currently in service. So no mortality changes !! So, why are the Bankers now punishing Mr. PFwalla with 1.6 times Nov 2007 salary in order to enter the Pension Scheme? Is it because he had not opted for Pension at the first attempt? Actually, the whole issue before the Bankers have arisen due to ICAI standards of accounting which require the employer to have an actuarial valuation of the pension fund. Any shortfall is to be provided for. The shortfall thus provided for qualifies for tax rebate to the Bank. The Bankers have identified Rs. 6000 crores as the shortfall. This shortfall has arisen since the Bankers have not provided for the same from time to time. Since the figure is a large one, it will recover the same from the employees. I shall give an immediate corollary. The Bankers are now modernizing their Offices and providing Air-conditioning, modular furniture, new getup, in some cases new logos. All this cost thousands of crores of rupees. Does it charge the employees for the same? Obviously not. It merely debits office upkeep expenses to provide for such modernisation. So why cannot the bankers absorb the pension fund expenses all by itself as an employee welfare benefit? In India, as and when VAT/CST/other taxes rise, the same is passed on to the customers. The Bankers have now shown us an unique example to pass on its own periodical liability to its own employees. Who knows, tomorrow, it may charge for the rent, a/c, stationary, computers being used by the employees for office work?
Sir I am one of bank employee who will be viewing your site daily for latest developments in banking industry and now particularly regarding wage settlement. First of all I thank you all for the fastest news being given by you regarding banking industry. Coming to the point I want to request to all my collegues working in banks through your website to stand unitedly and oppose the IBA and Union leaders proposal of 9th bifercate settlement. Since the settlement is yet to signed let all of us with one voice oppose the present proposal and see that 9th bifercate settlement won't come into effect with present draft. I further request to start a signature campaign immediately against the present draft and submit to self minded so called union leaders and IBA as well as government to mark protest. Kumud Gor says Myself Mr. Kumud Gor working with Bank of India Nadiad (Gujarat) the birth place of Sardar Patel; would like to congratulate you to initiate a step against our pay revision. One more thing can be added, employees of SBI are getting pension as a third benefit!! We extent our cooperation to you. Can new union be form? can matter be taken to the court of law? Mr. Prasad says It is high time to protest against these leaders who have surrendered employees” privileges for meagre increase. Why we need pay any levy for this settlement? On which grounds these leaders collect levy from employees?
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