Due to court cases filed in the Hon’ble High Court of Andhra Pradesh,there were certain difficulties which was on account of the sharing of the pension cost by the existing workforce . The IBA after obtaining the legal opinion advised the convener of UFBU that the contribution towards Pension Fund out of the arrears can be recovered only from the PF Optees who wish to avail the 2nd Option on Pension and not from those who are already become Pension Optees. There was a hectic discussion amongst all the constituents of UFBU and after threadbare discussions, UFBU unanimously decided to accept the stand of IBA and proceed with the agreement.
Tuesday, April 27, 2010
9TH bipartite salary revision agreement signed
Historic 9th bipartite salary revision agreement signed today ,effective date 01/11/2007.
Due to court cases filed in the Hon’ble High Court of Andhra Pradesh,there were certain difficulties which was on account of the sharing of the pension cost by the existing workforce . The IBA after obtaining the legal opinion advised the convener of UFBU that the contribution towards Pension Fund out of the arrears can be recovered only from the PF Optees who wish to avail the 2nd Option on Pension and not from those who are already become Pension Optees. There was a hectic discussion amongst all the constituents of UFBU and after threadbare discussions, UFBU unanimously decided to accept the stand of IBA and proceed with the agreement.
Due to court cases filed in the Hon’ble High Court of Andhra Pradesh,there were certain difficulties which was on account of the sharing of the pension cost by the existing workforce . The IBA after obtaining the legal opinion advised the convener of UFBU that the contribution towards Pension Fund out of the arrears can be recovered only from the PF Optees who wish to avail the 2nd Option on Pension and not from those who are already become Pension Optees. There was a hectic discussion amongst all the constituents of UFBU and after threadbare discussions, UFBU unanimously decided to accept the stand of IBA and proceed with the agreement.
The salient features are:
a) Highest, in terms of the percentage of increase – 17.5%
b) Success in getting the 2nd option on Pension which was pending for a long time.
c) Introduction of 2 additional stagnation increments for Scale I to III;
d) Ensuring of the better starting Pay without sacrificing the internal relativity and incremental pattern;
e) Improvements in the LFC by providing eligibility for JMGS I, Middle Management Grade II and III to travel by air;
f) Settlement of Halting Allowance with substantial improvements;
g) Improvements in Medical allowance to considerable extent;
h) Improvement in the Project Area allowance and Special area allowance etc.
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