Strange but true, LIC employees are withdrawing the higher salary after using the shoulder of bank employees’s bipartite settlement.
LIC wage revision is due on 01.08.2017, where as the 11th bipartite is due from 01.11.2017 i.e LIC wage revision expired , exactly one quarter before the Bipartite settlement.
Bank unions lead by AIBEA was a force to reckon with during the earlier days of bank nationalization. They has the muscle power and could stall, entire Indian economy with one strike call. Unfortunately our brothers in financial sector, LIC and General Insurance unions didn’t have that power.
In order to survive and for a better wages the LIC unions would patiently wait out for our Bipartite to be settled and with in a 3 to 6 months would clinch their wage revision citing the Bank Employees bipartite settlement. This was happening since our first bipartite settlement.
Insurance sector wage revision used to be exact replica of our Bipartite settlement. This was more or less same with all other Public Sector Organizations, our settlement used to be the bench mark for their negotiations.
Now let us look at what was the basic salary of AAO of LIC ( From 1983 to Till date), AAO post is equivalent to PSB PO.
LIC AAO Bank PO Diff in %
1983 1175 1175 0
1987 2100 2100 0
1992 4250 4250 0
1997 7100 7100 0
2002 11110 10000 11.1%
2007 17240 14500 18.89%
2012 32795 23700 38.37%
Just notice how the LIC employees have gained on us since 2002 (Eighth Bipartite). Remember one important point, wage revisions for the both sectors expires in the same year. Now they are close to achieving the CPC scale in the present wage revision. What about poor bank employees? Where are our mighty Bank unions.
LIC employees enjoy five day week. They have a performance linked pay of 1% to 6% of their annual pay for all officers including the back office staff. The performance linked pay is over and above the monthly salary. We are still struggling for a five day week.
Analysis of salaries of LIC and Bank Employees for the tenth bipartite shows the mature nature and wisdom of LIC union leaders.
LIC AAO Bank PO Diff in %
Starting Basic 32795 23700 38.37%
No of Increments 18 19
Maximum Basic 62315 45950 35.61%
No of Stagnation Increments 0 4
DA% ( as at 30.09.2018) 46.55% 54.1%
DA amount 15266 12821
Special Pay (with DA ) if Any 0 2829
Gross Salary at first stage 48061 39350 22.13%
Gross Salary at last stage 91322 76296 19.69%
Starting increment for LIC officers is Rs.1610 where as the starting increment for bank officer is Rs.980/-.
Last stage of AAO salary is Rs .62315/- . Where a PSU bank Divisional Managers basic salary at stagnation is Rs.60,820/- that too after adding the stagnation increment.
LIC AAo starting increment is Rs.1610/- per month where as the final increment is Rs.1745/- even our Divisional managers final increment is only Rs.1650/-
Now you will be understanding the intelligence of the LIC union leaders they have removed all the stagnation increments and scales were constructed.
With a higher starting salary at AAO stage, the gap between the salaries of Bank employees and LIC employees widens while advancing to the top.
For Scale 2 in banks total 18 increments for LIC it is 13 increments
LIC AO Bank Manager
Starting Basic 44065 31705
Last Basic 65805 51490
Gross Salary at first stage 64577 52643
Gross Salary at last stage 96437 85495
For scale 3 in banks 9 increments for LIC 11 increments
LIC ADM Sr.Manager
Starting Basic 53725 42020
Last Basic 75005 51490
Gross Salary at first stage 78733 69771
Gross Salary at last stage 109919 85495
For scale 4 in banks 6 increments and for LIC 9 increments
LIC DM Bank DM
Starting Basic 65805 50030
Last Basic 86505 59170
Gross Salary at first stage 96437 83071
Gross Salary at last stage 126773 98247
LIC DM last stage of Rs.86505/- is more than the last stage of Bank’s General Manager of Rs.85000/-
LIC DZM Bank AGM
Starting Basic 79605 59170
Last Basic 102045 66070
Gross Salary at first stage 116661 83071
Gross Salary at last stage 149546 109704
LIC ZM Bank DGM
Starting Basic 89095 68680
Last Basic 110575 76520
Gross Salary at first stage 130568 114038
Gross Salary at last stage 162047 127055
LIC ZM Selection Scale Bank GM
Starting Basic 99835 76520
Last Basic 124295 85000
Gross Salary at first stage 146308 114038
Gross Salary at last stage 182154 141136
The difference in salary from the scale 3 is huge.
The LIC wage revision is again due from 01.08.2017 and our 11th Bipartite is from 01.11.207. LIC unions have submitted their charter of demands. They have demanded for a starting salary of Rs.62000/- for AAO.
When the young bankers had cried for a parity with CPC there was a lot of criticism, including the duties performed to responsibilities etc.,
Now compare the job profile of a PO with that of AAO, Why PO? as per the above table Senior Manager maximum salary is just Rs.85495/- where as the AAO salary is RS.91332/-.
Comparing the job profile of a Senior Manager with that of a AAO, clearly indicates how underpaid we are..
Bank PO salary wise cannot be compared even with Higher Grade Assistant of LIC whose maximum pay is Rs.50140/-, they can at best be compared with stenographer whose maximum salary is Rs.44910/-. The maximum basic pay of of LIC clerk is Rs.40080/-.
With great support from IBA our great UFBU leaders will see that LIC assistant salary will be more than that of a bank PO.
Dear friends don’t let the UFBU leders do that easily. Please express your dissatisfaction to your leaders may be in local gatherings or in forums or thru facebook or any other social media.
Let them know that you are angry with them.
This is the grave injustice done to us. It may by the Government or the UFBU or somebody else.
Our fervent appeal, to all our UFBU leaders please don’t waste your time negotiating for 11th bipartite.
Get yourself trained from Insurance Association/Union leaders, let them settle their wage revision and follow their foot steps.
If you cant do that step down and give space for others, who can do it.
To all members this is a important post please share it in your network.