IBA :Adhoc Payment to the Serving Employees and Officers
In view of ongoing festive season IBA directed all their member banks to pay an adhoc amount to their serving employees/officers
In view of the ongoing festive season, IBA vide their letter no HR & IR/XIBPS/7944 dated 01.10.2019 directed all their member banks to pay an adhoc amount equivalent to one month’s salary (Basic Pay & DA) to all permanent staffs and officers who were on the rolls of the Bank on 1st November 2017 (and are presently continuing in service), as advance against the due payment of arrears of salary post signing of Settlement/Joint Note. As regards the employees who have joined the service of their bank on or after 1st November 2017 and up to 31st March 2019, should be paid an adhoc amount equal to 15 days’ salary (Basic Pay & DA).
This adhoc payment being made will be adjusted against the actual arrears payable after the outcome of the ongoing wage negotiation talks.
All statutory deductions like TDS (Income Tax) will be made as per prevailing rules from this adhoc payment.
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