Bank Unions Demand LEVY @4% before Arrears Payment of 11th Bipartite Wage Settlement in various Public Sector Banks. The recent circular issued by All India Bank Employees’ Association (AIBEA) has demanded the levy at 4% from its member from the net salary. Interestingly, the demand for payment of LEVY is asked before the payment of Arrears.
This is to remember that the 11th BPS was settled for the bank employees with a delay of 3 years with the same hike at the rate of 15%. Had the 11th BPS settled a year back, the levy burden would have been lower for the bank employees.
The rate at which LEVY is demanded by the various unions are :
1. Workmen Union – On an average 4% of (Gross Arrears – PF/NPS-Income tax)
2. Staff Federation – 3% of (Gross Arrears – PF/NPS-Income tax)
3. Officers Union – 2% of (Gross Arrears – Income tax)
NOTE : There are many unions like COO or CBOA, who are not demanding any LEVY from their members. Being a common banker, we appreciate their decision in this pandemic.
Also Find – 11th BPS Arrears Calculator – All Banks
The recent pandemic time is tougher for everyone and bankers are the most sufferer. The demand of levy @4% is very high for the lower salaried employees. The unions should take a lenient approach especially in this pandemic time.
