Thursday, May 27, 2010

Implementatation of 9th Bipartite Settlement - Process is on - Govt clearance in respect of officers is awaited

AIBOC has issued a circular stating that process of implementation of 9th Bipartite Settlement  is on.
The Indian Banks’ Association has since issued detailed communication to all the banks in respect of the Award Staff who signed 9th Bipartite Settlement under the provisions of the Industrial Disputes Act which does not require further approval of the Government.  The Communication in regard to the payment of arrears as well as the recovery towards the contribution to Pension Fund on account of the 2nd Option from those who will be required to exercise the option has since been sent to the Banks with instructions to hold the contribution in a separate account pending receipt of the detailed instructions from the Government including the amendment to the Service Regulations in respect of Officers of the banks. The process in respect of the Officers will also be expedited. Click on the link below to read full circular

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