Bonus for Bank Employees for the year 2016-17 as per Bonus amendment Act 2015 - Andhra Bank Circular

Bonus for Bank Employees for the year 2016-17 as per Bonus amendment Act 2015 - Andhra Bank Circular

Andhra Bank
(A Govt. of India Undertaking)
Head Office
HYDERABAD
Department: HUMAN RESOURCES

Circular No.168

Ref No.03/31

Date: 18.8.2017

Reg: Staff - Payment of Bonus - As per Bonus (Amendment), Act 2015. For the Year 2016-17.

Payment of Bonus Act was amended recently. As per the amended provisions the ceiling on salary and wage has been increased from Rs.10000/- to Rs.21000/- per month. As such, employees whose salary/wage does not exceed Rs.21000/- per month are now eligible for bonus.

It has been decided to pay Bonus at the rate of 8.33% of salary to all the eligible employees for the period 01.04.2016 to 31.03.2017.

Salary for this purpose includes 1) Basic pay (including FPP & PQP) 2) Special Pay 3) Dearness Allowance

4) Special Allowance with DA only.
All the branches / offices may note to disburse the Bonus to all the eligible employees as per the procedure given here under:

Tentative list of eligible employees together with Bonus Calculation as per the data extracted from HRMS shall be provided to all Zones.

Zonal Offices should get the data verified and confirm the correctness of eligibility and amount of Bonus paid and payable.

For any modifications required to be undertaken in the list, Zonal Office should submit the details to HO with suitable justification

On receipt of the "Branch-wise difference and addition of Bonus payable details - as per the format given in Annexure-IV" from the Zonal offices, the Bonus Amount will be credited to the "Cheque Proceeds Account" of the Zonal Office for onward distribution to branches.

Branches should enter details of Bonus paid in the Bonus Register for verification by the Labour Department Officials.

The entire exercise of verification of calculation and Payment of Bonus to eligible employees should be completed by 25.09.2017.

For the information of our branches/offices, the important guidelines and illustrations are given in Annexure-I, II and III

All the salary disbursing authorities are advised to go through the contents of this circular carefully and adhere to the stipulations mentioned without any deviation.

(V B BHAGAVATHI)
General Manager (HR)

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Government hikes minimum wage for workers as union strike nears

Government hikes minimum wage for workers as union strike nears

New Delhi: The Centre today announced a hike in minimum wage for unskilled non-farm workers of the central government to Rs 350 a day, from the current Rs 246, in an attempt to mollify trade unions that have threatened to go on a nation-wide strike on Friday.

Interacting with reporters here, Finance Minister Arun Jaitley said the bonus for 2014-15 and 2015-16 will be paid to central government employees based on revised norms. The Bonus Amendment Act will be implemented “strictly”.

He gave an assurance that the government will also take necessary steps to resolve the cases on payment of bonus pending in high courts and the Supreme Court.

The likely financial implications of the bonus move translate into Rs 1,920 crore per annum.

“In the last one and a half years, the inter- ministerial committee had meeting with central trade unions. Trade unions placed various demands. Some were labour related and some economic policy issues related. The government has taken some decisions with regard to those on the basis of their recommendations,” added Jaitley.

Power and Coal Minister Piyush Goyal and Labour and Employment Minister Bandaru Dattatreya were also present.

Jaitley said it has been decided to fix the minimum wages at Rs 350 per day for unskilled non-agricultural workers for ‘C’ category areas keeping in view the modalities of fixing minimum wages.

The decision was taken following deliberations at the meeting of the Minimum Wage Advisory Board under the chairmanship of the labour minister for revising the basic minimum wages in the central sphere.

The registration of the contract workers and their staffing agencies is mandatory and states will be advised to strictly implement the same, the finance minister said.

Errant contractors will face appropriate action for any violation, he warned.

The issue of giving social security benefit to the unorganised sector (like Anganwadi, mid-day meal, Asha volunteers) will be examined by a committee which will give its report at the “earliest”.

Asked about the strike call, Jaitley said: “I think we have responsible trade unions.”

On the opposition to the government’s plans to merge associate banks of SBI with the parent bank, Jaitley said “the merger is not subject of trade unions”.

“Their service conditions are not being hurt adversely or affected at all. There will be no impact of merger on service conditions of any employee. If government decides that we need strong banks, then unions would have to change their approach to the whole issue,” he asserted.

Dattatreya has held meetings with central trade unions wherein detailed discussions were held with regard to their charter of demands.

The issues have been taken up by inter-ministerial committee haded by the finance minister.

As many as 10 central trade unions have given a call for a one-day pan-India strike on September 2, 2016, to protest against the government’s labour reforms and “not paying heed to their demands”.

PTI

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