Association of Officers of UCO Bank
AIBOC calls for withdrawal of Extra co-operation;Annual General Meeting of Benefit Fund to be held on 27th September, Saturday.Record 151 members donate blood on 1st May Blood Donation Camp organised by AOUCB , West Bengal
Important Service Conditions for Officers.
Scales of Pay
Increments
Stagnation Increments
Fixed Personal Pay (w.e.f. 1.11.2007)
Professional Qualification Pay (PQP) (w.e.f. 1.11.2007)
Dearness Allowance
House Rent Allowance
City Compensatory Allowance
Hill and Fuel Allowance (w.e.f. 1.11.2007)
Deputation Allowance (w.e.f. 1.5.2010)
Officiating Allowance
Closing Allowance
Mid Academic Year Transfer Allowance
Split Duty Allowance:
Project Area Allowance
Medical Aid
Hospitalisation Expenses
Kinds of Leave:
Reimbursement of Expenses on Travel:
Lodging Expenses:
Reimbursement Expenses towards of personal baggage on transfer
Halting Allowance on Transfer
Compensation on Transfer (w.e.f. 1.5.2010)
Definition of Family:-
LFT/LTC
Encashment of Privilege Leave:
Joining Time
Conveyance Reimbursement Scheme
Voluntary Retirement:
Residential telephone facility for Officers
Newspaper facility for Officers
Entertainment Expenses Per Annum.
Preferential Interest rate on deposits
Recovery of House
Residential Accommodation for officers
Staff Welfare Schemes
Group Savings Linked Insurance Scheme
Conveyance Loan
Festival Loan (Interest Free)
Consumer Loan
Marriage Loan
Staff Housing Loan
OD Facility to the members
Pension (other than State Bank of India)
Provident Fund Loan
Gratuity Payable
Entertainment Expenses

Scales of Pay

Scale I -

14500

600

18700

700

20100

800

25700

 

 

7

 

2

 

7

 

Scale II -

19400

700

20100

800

28100

 

 

 

 

1

 

10

 

 

 

Scale III -

25700

800

29700

900

31500

 

 

 

 

5

 

2

 

 

 

Scale IV -

30600

900

34200

1000

36200

 

 

 

 

4

 

2

 

 

 

Scale V -

36200

1000

38200

1100

40400

 

 

 

 

2

 

2

 

 

 

Scale VI -

42000

1200

46800

 

 

 

 

 

 

4

 

 

 

 

 

Scale VII -

46800

1300

52000

 

 

 

 

 

 

4

 

 

 

 

 

 

 

Increments

Increments in the Scales of Pay will be sanctioned by Competent Authority on an annual basis. Officers in Scale-I and Scale-ll, one year after reaching the maximum in their respective Scales shall be granted further increments including Stagnation Increment(s) in the next higher Scale subject to their crossing the EB. Grant to such increments in the next higher Scale shall not amount to promotion. Officers even after receipt of such increments shall continue to get privileges, perquisites, duties, responsibilities or posts of their substantive Scale-I or Scale-II, as the case may be.


Stagnation Increments

  • Officers in JM Grade Scale I who have moved to scale of pay for MMG Scale II in terms  of  Regulation  5(b)  after  reaching  maximum  of  the  higher  scale  shall  be eligible for four stagnation increments for every three completed years of service of which first two shall be Rs 800/- each and next two Rs 900/- each.
  • Officers in MMG Scale II who have moved to scale of pay for MMG Scale III in terms of Regulation 5(b) after reaching maximum of higher scale shall be eligible for three  stagnation  increments  of  Rs 900/-  each  for  every  three  completed  years  of service.
  • Officers in substantive MMG Scale III  i.e.  those  who  are recruited  in  or  promoted  to  MMG  Scale  III  shall  be  eligible  for  four  stagnation increments of Rs 900/- each for every three completed years of service.

Fixed Personal Pay (w.e.f. 1.11.2007)


Fixed Personal Pay together with House Rent Allowance shall be at the following rates and shall remain frozen for the entire period of service.


Increment Component
Rs

DA as on 01.11.2007
Rs

Total F.P.P. payable where bank’s
accommodation is provided Rs

(A)

(B)

(C)

800

58

858

900

65

965

1000

72

1072

1100

79

1179

1200

86

1286

1300

94

1394


Note:

  • F.P.P. as indicated in “C” above shall be payable to those officer employees who are provided with bank’s accommodation.
  • F.P.P. for officers eligible for House Rent Allowance shall be “A” + “B” plus House Rent Allowance payable on the last increment of the relevant scale of pay.
  • The increment component of F.P.P. shall rank for superannuation benefits.

Professional Qualification Pay (PQP) (w.e.f. 1.11.2007)


  • Officers shall be eligible for professional qualification pay as under:
    • Those who have passed only CAIIB – Part I / JAIIB Rs 410/- p.m. one year after reaching top of the scale.
    • Those who have passed both parts of CAIIB –
    • Rs 410/- p.m. one year after reaching top of the scale.
    • Rs 1030/- p.m. two years after reaching top of the scale.
  • An Officer employee acquiring JAIIB/CAIIB (either or both parts) qualifications after reaching the maximum of the scale of pay, shall be granted from the date of acquiring  such  qualification  the  first  installment  of  PQP  and  the  release  of subsequent installments of PQP shall be with reference to the date of release of first installment of PQP.
    Provided further that in a case where an officer, as on the date of this Joint Note, has already acquired any of the above said qualifications and has not earned any increment or PQP on account of acquiring such qualification/s, he may be, with effect  from  1st  November  2007  or  the  date  of  acquiring  such  qualification/s, whichever is later, released PQP as provided herein above.


Dearness Allowance


On  and  from  1.11.2007,  Dearness  Allowance  shall  be  payable  for  every rise  or  fall  of four points over 2836 points in the quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100 at 0.15% of Pay.


House Rent Allowance

 

i)

Major “A” Class Cities and Project Area Centres in Group A

8.5% of Pay

ii)

Other places in Area I and Project Area Centres in Group B

7.5% of Pay

iii)

Other places

6.5% of Pay

 

Provided that if an officer produces a rent receipt, the House Rent Allowance payable to him/her  shall  be  the  actual  rent  paid  by  him/her  for  the  residential  accommodation  in excess over 1.2% of Pay in the first stage of the Scale of Pay in which he/she is placed with a maximum of 150% of the House Rent Allowance payable as per aforesaid rates mentioned in Column II above.


Note:

The claims of officer employees for House Rent Allowance linked to the cost of their ownership accommodation shall also be restricted to 150% of House Rent Allowance as hitherto.


City Compensatory Allowance


 

 

Area

 

Rate

Maximum
Amount

i)

 

Places in Area 1 and in the State of Goa

 

4% of Basic Pay

 

Rs 540/- p.m.

 

ii)

 

Places with population of five lakhs and over and State Capitals and Chandigarh, Puducherry and Port Blair

 

3% of Basic Pay

 

Rs 375/- p.m.


Hill and Fuel Allowance (w.e.f. 1.11.2007)


 

Place

Rate

a)

Places  with  an  altitude  of  1000  metres  and above  but  less  than  1500  metres  and  Mercara Town

2% of Pay subject to a maximum of Rs 550/-p.m.

b)

Places  with  an  altitude  of  1500  metres  and above but less than 3000 metres.

2.5% of Pay subject to a maximum of Rs 680 p.m.

c)

Places  with  an  altitude  of  3000  metres  and above.

5% of Pay subject to a maximum of Rs 1570/- p.m.


Deputation Allowance w.e.f. 01/05/2010


  • An officer deputed to serve outside the Bank is eligible for deputation allowance of 7.75% of Pay with a maximum of Rs 2300/-.
  • An Officer deputed to an Organization at the same place or to a training establishment of Bank is eligible for deputation allowance of 4% of Pay with a maximum of Rs 1200/-.
Officiating Allowance

  1. In case of mismatch posting, after one year of re categorisation of the branch, officiating will be permitted only in number one position in terms of UCO Bank (Officers) Service Regulations, 1979
  2. Officiating will also be allowed in number one position in the branch in the cases of sanctioned leave availed in terms of UCO Bank (Officers) Service Regulations, 1979
  3. No chain officiating will be permitted. (CHO/POS/13/2003 dated 06/10/2003) and CHO/POS/04/2004 dated 27/01/2004)
  4. If an Officer officiates in the higher Scale for not less than 7 days in a calendar month, he/she shall receive an officiating allowance equal to 6% of his/ her Basic Pay, pro rata for the period for which he/she officiates. Officiating allowance will rank for PF/Pension. No maximum limit for officiating allowance. (HO. Circular No. CHO/POS/04/2004 dt. 27/01/2004).

Closing Allowance


An Officer employee if posted at a branch where books are closed on 31st March and 30th September, a closing allowance of Rs . 250/- for each of the two closings.


Halting Allowance (w.e.f. 1.5.2010)

 

Grade / Scales of Officers

Major ‘A’ Class Cities
Rs

Area I
Rs

Other Places
Rs

Officers in Scale IV & above

1000/-

800/-

700/-

Officers in Scale I/II/III

800/-

700/-

600/-

 

Provided that in the case of officers in Scale IV and above, halting allowance payable per diem  while  on  outstation  work  at  the  four  metros,  viz.  Delhi, Mumbai, Kolkata and
Chennai, shall be Rs 1200/- and for officers in Scale I/II/III Rs 1000/-.

 

 

Mid Academic Year Transfer Allowance

On and from 1st   May 2010, Mid Academic Year Transfer Allowance shall be payable at Rs 700/- p.m. subject to other conditions.


Split Duty Allowance

On and from 1st  November 2007, Split Duty Allowance shall be payable at Rs 165/- p.m


Project Area Allowance

On and from 1st November 2007, Project Area Compensatory Allowance shall be payable at the following rates :

  • Project Areas falling in Group A – Rs 290/- p.m.
  • Project Areas falling in Group B – Rs 255/- p.m
Medical Aid [w.e.f. 01-Nov-2007]

Officers in JMG & MMG Scales Rs. 5100/- p.a
Officers in SMG & TEG Scales Rs. 6320/- p.a

Hospitalisation Expenses

On and from 1st  May 2010, reimbursement of hospitalization expenses under Regulation 24(1(b)(i)   of   Officers’   Service   Regulations,   1979/1982,   shall   be   in   terms   of   the Hospitalization Scheme laid down under Bipartite Settlement dated 27th  April 2010 for workmen employees, subject to following limits:-

 

Scale of Officer

Limits

a)  Junior Management
Grade Scale I and Middle
Management Grade
Scales II & III.

i) Bed Charges
Self – Rs 700/- per day.
Family – Rs 525/- per day.

ii)   Other charges –
At the scale of 125% of the limits laid down under the Hospitalization Scheme applicable to workmen employees.

b)  Senior Management
Grade Scales IV & V and Top Executive Grade Scales VI & VII.

i) Bed Charges
Self – Rs 900/- per day.
Family – Rs 675/- per day.

ii) Other charges –
At the scale of 150% of the limits laid down under the Hospitalization  Scheme  applicable  to  workmen employees.

 

Treatment for Eligibility for Scale I to III Eligibility for Scale IV and above
Coronary ByPass Surgery Rs.200000/- Rs.2,40,000/-
Coronary Angioghraphy Rs.20625/- Rs.24750/-
Angioplasty/Stentoplasty Rs.100000 Rs.120000/-
Kidney Transplant Rs.225000 Rs.270000/-
Liver Transplant [not in cases where damage done by alcoholism] Rs.275000/- Rs.330000/-


Sanction of advance and demand loan against hospitalization expenses to members of staff:-

Advances Demand Loan
(with commercial rate of interest)
Advances Demand Loan


Domiciallary Treatment:-

List of Domiciallary Diseases

Cancer Leukemia Thalassemia Tuberculosis Paralysis
Cardiac Ailment Pleuresy Leprosy Kidney Ailment Eplilepsy
Parkinson’s Disease Psoriasis Diabates Hepatites B & C Hemophila
Psychiatric Disorder Hemophilia Myasteniagravis Wilson’s Disease Ulcerative Colities
Epidermolysis bullosa Venos thrombosis Aplastic Anaemia 3rd Degree Burn Rheumatoid arthritis
Hypothyrodism Hyperthyrodism

Kinds of Leave:


Casual Leave: 12 days in a year - Maximum period of 4 working days at a time. CL cannot be combined with any other leave. Unavailed CL can be availed on sick grounds within three years.


Priviledge Leave: PL can be accumulated upto 240 days. PL. should not exceed 240 days at any particular point of time.


Sick Leave: 30 days Half-pay for each year for first 18 years of service, which can be availed on full pay basis.


Additional-Sick Leave: Eligible for 30 days half-pay sick leave for the next 3 years after completing 24 years service.

i.e.

on completing 25lh year: 30 days
on completing 26m year: 30 days
on completing 27th year: 30 days

This can be availed on full pay basis after exhausting the regular sick leave

Maternity leave: (w.e.f. 1.5.2010)

  • Maternity leave, which shall be on substantive pay, shall be granted to a female employee for a period not exceeding 6 months on any one occasion and 12 months during the entire period of her service.
  • Within the overall period of 12 months, leave may also be granted in case of miscarriage/abortion/MTP.
  • Within the overall period of 12 months, leave may also be granted in case of hysterectomy upto a maximum of 45 days.

Reimbursement of Expenses on Travel:

Mode of Travel and Expenses on Travel (w.e.f. 1.5.2010):
The following provisions shall apply wherever an officer is required to travel on duty:

  • An officer in Junior Management Grade is entitled to travel by 1st Class or AC 2-tier Sleeper by train. He may, however, travel by air (economy class) if so permitted by the Competent authority, having regard to the exigencies of business or public interest.
  • An officer in Middle Management Grade is entitled to travel by 1st Class or AC 2-tier Sleeper by train. He may, however, travel by air (economy class) if the distance to be travelled is more than 1000 kms. He may, however, travel by air (economy class) even for a shorter distance if so permitted by the Competent Authority, having regard to the exigencies of business or public interest.
  • An officer in Senior Management or Top Executive Grade is entitled to travel by AC 1st Class by train or by air (economy class).
  • An officer in Senior Management or Top Executive Grade may travel by car between places not connected by air or rail provided that the distance does not exceed 500 km. However, when a major part of the distance between the two places can be covered by air or rail only the rest of the distance should normally be covered by car.
  • Any other officer may be authorised by the Competent Authority, having regard to the exigencies of business, to travel by his own vehicle or by taxi or by the Bank’s vehicle.

The remaining provisions as in Sub-regulations (2) & (3) of Regulation 41 of Officers’ Service Regulations shall remain unchanged.


Lodging Expenses

[Ref Circular No: - CHO/PMG/06/2011-12 dated 06.05.2011]
   


Officers Grades

Major A Class Cities

Area -1

Other Places

TEGS-VI & VII

6800

3400

3000

SMGS-IV & V

4000

2400

2000

MMGS- II

2400

1600

1200

JMGS-I

1600

1200

800


Reimbursement at Mumbai, New Delhi, Kolkata, Chennai, Bangalore, Ahmedabad and Hyderabad may be up to 125% of the above  applicable ceilings of tariff for executives  in Scale-IV to VII.


When an officer stays in a hotel:

  1. When the Officer submits actual bills towards Boarding, he is eligible for an additional 1/4th of halting allowance as out-of-pocket expenses apart from the Boarding expenses.
  2. An Officer can claim Boarding expenses on declaration basis, but is not eligible for 1/4th of halting allowance as out-of-pocket expenses.
  3. In the absence of bills or declaration, only 3/4th of the Boarding expenses is payable.

If the period of absence is less than 8 hours but more than 4 hours, halting allowance at the half-rate shall be payable.


Air Travel        : Reporting time for departure of flight.


Train & Bus        : Scheduled time of departure in other cases to the actual time of arrival. A supplementary diem allowance of Rs 10/- per day of halt outside headquarters on inspection duty may be paid to all Inspecting Officers

 

Reimbursement Expenses towards of personal baggage on transfer


     REF[CHO/POS/05/2011-12 Dt. 23.05.2011]  
     An officer on transfer is shifting his personal effects     between the places by approved lorry transport, even if the two places are connected by train, then reimbursement of expenses may be made at the following rates subject to weight stipulation as in Regulation 42(2) of the OSR.

 

Distance in kms

Rate per tone per km

Upto 1000 kms

Rs 2.80

Beyond 1000 kms

Rs 2.00


Note: The above rates will apply on a slab basis.


Transportation of baggage by goods train
REF[CHO/POS/21/206-07 Dt. 05.01.2011]


Pay Range Rs

Where  Officer has family

Where Officer has no family

1)14500 to 19400 p.m

3000 Kg

1500 Kg

2) 19400 p.m. & above

Full Wagon

2500 Kg


Baggage may also be transported by truck up to 120 Qtls., if transported by IBA approved transport operator and 60 Qtls. if transported by other transport operators. However, reimbursement shall not exceed cost of transportation of maximum permissible quantity by goods train.


Halting Allowance on Transfer


Circular No.CHO/POS/38/2006 Dt. 02.01.2006 paying of halting allowance on transfer w.e.f. 01.04.2006.


Halting allowance should be paid to the officer on transfer who is eligible for bank's residential accommodation up to a maximum period of 15 days or till the time in accommodation   is made available to him whichever is earlier except when the officer.


  • Is given a house immediately on his reporting at new place of posting
  • goes on transfer to his place of choice on request,
  • owns a house at the new place of his posting.
  • Further, if the officer avails joining time/leave within 15 days of reporting at the new place, he shall not be paid Halting allowance for the period for which he is on leave/joining time.

An Officer shall be entitled to per diem Boarding expenses at the rates set out under Halting Allowance. Where lodging is provided at Bank's

cost or free of cost 3/4 th of Halting All.
Where Boarding is permitted at Bank's cost of free of cost 1/2 of Halting All.
Where Boarding & Lodging are provided at Bank's cost or free of cost 1/4th of Halting All.

Provided that in the case of an Officer claiming Boarding expenses on declaration basis without production of bills for actual expenses incurred, the Officer shall not be eligible for 1/4th of Halting Allowance as out of pocket expenses.


Compensation on Transfer (w.e.f. 1.5.2010)


An officer on transfer will be eligible to draw a lump sum amount as indicated below for expenses connected with packaging, local transportation, insuring the baggage etc.


Grade/Scale of Officer (Rs )
Officers in Scale IV and above 12,000/-
Officers in Scale I, II and III 9,000/-

Definition of Family

  • For the purpose of medical facilities and for the purpose of leave fare concession, the expression ‘family’ of an officer shall mean an officer’s spouse, wholly dependent unmarried children (including step children and legally adopted children), physically challenged brother/sister with 40% or more disability, as also parents ordinarily residing with and wholly dependent on the officer.
  • The term wholly dependent child/parent, wholly dependent physically challenged brother/ sister shall mean such member of the family having a monthly income not exceeding Rs 3500/- p.m. If the income of one of the parents exceeds Rs 3,500/- p.m. or the aggregate income of both the parents exceeds Rs 3,500/- p.m., both the parents shall not be considered as wholly dependent on the officer.

LFT/LTC


During each block of 4 years, an officer shall be eligible for leave travel concession for travel to his place of domicile once in each block of two years. Alternatively, he may travel in one block of two years to his place of domicile and in another block of two years to any place in India by the shortest route.

  1. Alternatively, an officer, by exercising an option anytime during a 4 year block or two year block, as the case may be, surrender and encash his LTC (other than travel to place of domicile) upon which he shall be entitled to receive an amount equivalent to 75% of the eligible fare for the class of travel by train to which he is entitled up to a distance of 4500 kms. (one way) for officers in JMG Scale I and MMG Scale II & III and 5500 kms (one way) for officers in SMG Scale IV and above. An officer opting to encash his LTC shall prefer the claim for himself / herself and his / her family members only once during the block / term in which such encashment is availed of.
    The facility of encashment of privilege leave while availing of Leave Fare Concession is also available while encashing the facility of LTC.
  2. The mode and class by which an officer may avail of Leave Travel Concession shall be the same as the officer is normally entitled to travel on transfer and other terms and conditions subject to which the Leave Travel Concession may be availed of by an officer, shall be as decided by the Board from time-to-time. Provided that w.e.f.1st May 2010 an officer in Junior Management Grade Scale I while availing LTC will be entitled to travel by air in the lowest fare economy class in which case the reimbursement will be the actual fare or the fare applicable to AC 1st Class fare by train for the distance traveled whichever is less. The same rules shall apply when an officer in Middle Management Grade Scale II and Middle Management Grade Scale III while availing LTC where the distance is less than 1000 kms.

Encashment of Privilege Leave:

[ref Circular no:- CHO/PMG/02/2002 DT:-10/01/2002]
The Board has approved the facility of encashment of Privilege Leave to an Officer as well as to a workman employee resigning from Bank's service on or after 01/ 04/2001 to the extent of half of such leave at his credit subject to a maximum of 120 days. Once in every 4 years at the time of availing LTC. Maximum one month can be encashed. Accumulated PL upto a maximum of 240 days may be encashed at the time of retirement.


Joining Time


Seven days exclusive of journey time is permissible to Officers for joining at the new place of posting. The joining time can be availed in two stages also with the prior permission of the appropriate authority. Unless specifically instructed not to avail joining time, the Officer is supposed to avail joining time at the time of transfer. Joining time cannot be prefixed to any leave. Joining time is to be availed within 6 months or on relief from the branch/office or within 3 months of the end of academic session of child whichever is later. An Officer on his transfer from one place to another station shall be eligible to claim Halting Allowance for the period spent on journey and in exceptional circumstances, he/she may be allowed HA subject to a maximum period of 15 days for stay at the new station. Such HA shall be paid from the date and time the Officer arrives at the new place of posting but not during leave or joining time availed during this period. The Officer shall not be entitled to payment of House Rent Allowance during the period for which he is being paid Halting Allowance.

 

Conveyance Reimbursement Scheme


Scheme A: (for Officers not owning vehicles)


Eligible Categories officers                                                                Monthly Ceiling

  • All officers in MMG scale - III                                                           Rs   800/-
  • All officers in MMG scale - II                                                            Rs   500/-
  • Officers in JMG -I                                                                            Rs   400/-

       

Scheme B: (for Officers owning vehicles)    (in Litres)


For use of Cars

Metro

Area-I

Area-ll

Area-Ill

Officers in Scale-III & above

63

58

52

40

Officers in I & II

46

40

35

35

 

For use of two
Wheelers

Metro

Area-I

Area-I I

Area-Ill

Other than Moped

29

23

17

17

Mopeds

17

14

12

12

 

Monthly Monetary Ceiling basis for officers owning Vehicles under Scheme ‘B’

           


Category of Officers

 

Area of Operation

 

For use of 4 wheelers

 

For use of 2 wheelers

 

For use of mopeds

All officers in Scale – III and above

Metropolitan

1330/-

1000/-

470/-

Area-I

1060/-

930/-

420/-

Area-II

1000/-

730/-

370/-

Area-III

800/-

730/-

370/-

All officers in Scale – II and I

Metropolitan

1000/-

800/-

440/-

Area-I

700/-

500/-

260/-

Area-II

600/-

400/-

250/-

Area-III

500/-

400/-

250/-



Entertaiment Expenses:-

Scale of Officer Revised Annual ceiling after merger of monthly Business Dev. Expenses. (per annum)
1 2
Scale-VII 24000.00
Scale-VI- as Branch Head(BH)/ Zonal Head(ZH) 20000.00
Scale-VI- other than BH/ZH 12000.00
Scale-V- as Branch Head(BH)/ Zonal Head(ZH) 15000.00
Scale-V-other than BH/ZH 7500.00
Scale-IV- as Branch Head 12000.00
Scale-IV- other than BH 6000.00
Scale-III as Branch Head 8000.00
Scale-III other than BH 4000.00
Scale-II as Branch Head 6000.00
Scale-II other than BH 3000.00
Scale-I as Branch Head 5000.00
Scale-I-other than BH 2500.00

   
Conveyance allowance to Blind & Orthopedically handicapped   
    employees: 5% of Basic pay subject to a maximum of Rs 400/-
    p.m. (w.e.f. 31st March,2009).


Voluntary Retirement:

Officers seeking retirement under Voluntary Retirement

  • Should have completed minimum 20 years of service in the Bank, or has attained the age of 50 years
  • Three months notice period is required
  • Shall give an undertaking not to take up any employment for a minimum period of 2 years from the date of such retirement without prior consent of the Bank.

    Officers deciding to seek voluntary retirement may apply for leave including LTC during the three months notice period which may be sanctioned of refused by Competent Authority depending on the exigencies of the bank.


Residential telephone facility for Officers


Category of Officers

Monthly Ceiling

Branch Heads in Scale III

Reimbursement of Rs 438/- p.m on fixed line or Mobile inclusive of STD/Roaming facility.

Other Scale III officers

Reimbursement of Rs 375/- p.m on fixed line or Mobile inclusive of STD/Roaming facility.

Branch Heads in Scale II

Reimbursement of Rs 313/- p.m  on fixed line or Mobile inclusive of STD/Roaming facility.

Branch Heads in Scale I

Reimbursement of Rs 313/- p.m on fixed line or Mobile inclusive of STD/Roaming facility.

LDMs

LDMs in Scale III and II will be entitled to reimbursement of 438/- or 313/- p.m. (with 25% increase)on fixed line or Mobile inclusive of STD/Roaming facility

Newspaper facility for Officers


Category of Officers

Monthly Ceiling

Branch Heads in Scale III,II,I

Reimbursement of cost of 2 Newspapers and one Business Magazine within overall monetary ceiling of Rs 180/-.

Other Scale III officers

Reimbursement of cost of 2 Newspapers and one Business Magazine within overall monetary ceiling of Rs 180/-.

Other Scale II & I officers

Reimbursement of cost of 1 Newspapers and one Business Magazine within overall monetary ceiling of Rs 130/-.


Entertainment Expenses Per Annum.



Officer Cadre

Ceiling

Scale VI & VII

Rs 7500/-

Scale IV & V

Rs 3000/-

Scale III [Branch Head]

Rs 2500/-

Scale II [Branch Head]

Rs 2000/-

Scale I[Branch Head]

Rs 1800/-

 


Preferential Interest rate on deposits

The Bank may allow 1 % additional rate of interest over its ruling rate of interest of Fixed Deposits, Savings Bank deposits and Recurring Deposits in the name of the Officer, individually of jointly with any member of his family.




Recovery of House/Furniture Rent

  • i) House Rent recovery shall be @1.20% of the first stage of the scale of pay in which the officer is placed or the standard rent for the accommodation, whichever is less.
  • ii) Furniture rent recovery shall be @0.25% of the first stage of the scale of pay in which the officer is placed.
Scale 1st stage Recovery for the house accommodation Recovery for the furniture if taken on Bank’s lease Recovery where both house accommodation and furniture are provided
I 14500.00 174.00 36.25 210.25
II 19400.00 232.80 48.50 281.30
III 25700.00 308.40 64.25 372.65


Standard Rent in respect of accommodation owned/hired by the Bank:-

S.No Scale Range of living area in sq.ft Standard Rent
1 I 600 241.00
2 II 700 279.00
3 III 800 279.00
4 IV 1000 520.00


Furniture provided at Bank’s Residential accommodation:-

Residential Accommodation for officers:-

Scales/Grades Sq.ft.
1 Scale-I 600
2 Scale-II 700
3 Scale-III 800
4 Scale-IV 1000
5 Scale-V 1200
6 Scale-VI/VII 1500 or to be allotted Executive Flats in staff Quarters


In metropolitan and other areas, if residential accommodation of the above sizes is not available within the prescribed monetary ceilings for rent, accommodation of smaller size(s) may be taken within those ceilings. Base Rate per sq.ft for acquisition of residential accommodation by bank:-

(Base: All India Working Class consumer price Index for December, 1980)

Major ‘A’ class cities ‘A’ class cities Area-II Area – III
`1.30 `1.15 `1.00 `0.90
The rate per sq.ft will be increased or decreased by the following amount for every rise or fall of block of 48 points in All India Average Working Class Consumer Index over the Base Period, December 1980.

Major ‘A’ class cities ‘A’ class cities Area-II Area – III
`0.10 `0.08 `0.06 `0.04


The increase in 15% in the Lease Rental ceiling for residential accommodation is applicable to all centers.

However, no enhancement shall be permitted for any quarter during the tenancy of the lease period. The above rates will not apply where residential accommodation is taken with and is attached to the office premises.

The General Manager(GA)/Executive Director/Chairman & Managing Director may , in their absolute discretion allow residential accommodation to be taken on a rent exceeding upto 15%,20% and 30% respectively.



Staff Welfare Schemes

  • UCO Diamond Jubilee Prize Scheme
    [REF CIR:-CHO/PMG/17/2002 dated 12-07-2002]
    • Object: - Prizes in recognition of merits to in 12th standard Exam and Degree Exam.
    • Target Group :- The children of permanent members of staff (clerks and officers)
    • Amount of Prize :- Rs 5000/-
    • No. of Prizes: - Total of 20 Prizes.
      • 5 each to the wards of clerks & officers
      • 5 each for Degree Exam
  • Funeral Expenses:-
    [REF CIR:-CHO/PMG/08/2004 dt. 17-02-2004 and CHO/PMG/15/2008-09 dt. 10-09-2008]
    • Object: - Assistance on account of funeral expenses to the family of any employee who dies while service in Bank.
    • Amount of Assistance :- Rs 20000/-
  • Further Reimbursement of Hospitalization Bills:-

    Scheme A
    • Objective:-Assistance by way of reimbursement against uncovered hospitalization bills(after reimbursement under banks hospitalization scheme) in connection, with Heart Surgery, Kidney transplantation, treatment of cancer/brain tumour, knee/Hip joint replacement and major surgery arising out of any accidental injury.
    • Target Group:- All staff members and their spouse
    • Quantum of Assistance:
      • Rs 3.00 lacs towards expenses on transplantation for self
      • Rs 2.00 lacs towards cost of implanted items for self.(Upper cap of reimbursement being Rs 3.00lacs if claimed for both the above facilities at a time)
    Scheme B
    • Objective:-Reimbursement towards expenses on transplantation of organs and cost of implanted items.
    • Target Group: - All staff members.
    • Quantum of Assistance:
      • Rs 3.00 lacs towards expenses on transplantation for self
      • Rs 2.00 lacs towards cost of implanted items for self.(Upper cap of reimbursement being Rs 3.00lacs if claimed for both the above facilities at a time)
    Scheme C
    • Objective:- Financial Assistance upto 3 months to employees who are compelled to be on loss of pay during treatment of major illness.
    • Target Group: - Employees who are compelled to be on loss of pay during treatment of major illness.
    • Quantum of Assistance :Rs 1500/- p.m. up to three months to the employee who is on loss of pay during treatment or major illness.
  • Health Check Up scheme for employees
    [ref cir:-CHO/PMG/34/2006 dt:-02/01/2006 and CHO/PMG/24/2009-10 dt:-24/11/2009]
    • Objective:-Assistance by way of reimbursement of expenses on account of Health Check Up once in two years.
    • Target Group: - All staff members and their spouse in the age of group of 40 years and above.
    • Quantum of Assistance:
      • Rs 1500/- once in two years for self
      • Rs 1000/- once in two years for spouse
  • Educational assistance to school/college going dependent son/daughter of the deceased employees
    [ref cir:-CHO/PMG/34/2006 dt:-02/01/2006]
    • Objective:-Educational Assistance to any school/college going dependent son/daughter of the deceased employee for the first two years where no compassionate appointment is considered by the bank.
    • Quantum of Assistance:
      • Rs 5000/- per year.
  • Financial relief to physically - challenged/mentally retarded children of employees
    [ref cir:-CHO/PMG/17/2006-07 dt:-11/11/2006]
    • Objective:-Financial relief to physically challenged and mentally retarded children of employees towards school fee for education in special institution and for treatment in rehabilitation schools up to the age of 21 years.
    • Quantum of Assistance:
      • Rs 3000/- (max.)p.a for a physically challenged child
      • Rs 5000/- (max.)p.a for a mentally retarded child
      • Rs 2500/- (one time) for purchase of certain artificial aid/accessories such as caliper shoes/Crutches/Wheel chair/Artificial leg/Special hearing aid.
  • Scheme of Reimbursement of spectacles to employees
    • Objective:-Financial Assistance for eye check up including procuring spectacles.
    • Target Group: - All staff members in the age group of 40 years and above.
    • Quantum of Assistance: Rs 1000/-(max) once.
  • Group Mediclaim Insurance with Group Personal Accident Insurance:-
    [ref cir:-CHO/PMG/20/2008-09 dt:-01/11/2008]
    • Objective: - Group Mediclaim Insurance with Group Personal Accident Insurance.
    • Target Group: - All staff members with their dependent family members. However, GPA is applicable only to the members of staff.
    • Coverage:
      • Group Mediclaim Insurance – Rs 1.50 lakh beyond the permissible limit under bank’s hospitalization scheme.
      • Group Personal Accident Insurance – Rs 3.00 lakh
    • Premium: - Total premium to be paid from staff welfare fund.
  • Group Mediclaim Insurance for retired employees:-
    [ref cir:-CHO/PMG/02/2010-11 dt:-13/04/2010]
    • Objective: - Group Mediclaim Insurance for retired employees with their spouse.
    • Target Group: - All retired employees.
    • Coverage: Rs 1.00 lakh.
    • Premium:-
      • 50% of the premium to be paid from staff welfare fund.
      • 50% of the premium to be borne by the retiree.
  • Scheme of Reimbursement towards expenses on refreshment
    [ref cir:-CHO/PMG/23/2010-11 dt:-28/09/2010]
    • Objective: - Reimbursement towards expenses on refreshment on occasion of Bank’s foundation day (6th January)or thereafter, within the financial year.
    • Target Group: - All staff members.
    • Quantum of Assistance:- Rs 1000/-(max.) per year

Group Savings Linked Insurance Scheme

            Insurance Cover (Sum Assured)


             A Employees:-

Officers In Scale IV & above

Rs 4,00 lacs+ Savings Part

Officers upto Scale III

Rs 3.00 lacs+ Savings Part




              Savings Part=63% of Self Premium

             B)Spouse:-
   


Officers In Scale IV & above

Rs 4,00 lacs[normal death]

Officers upto Scale III

Rs 3.00 lacs[normal death]


              The Ceiling will be double the sum assured in case of accidental death of                    Employees.
 

Conveyance Loan

(For Two Wheeler)
Eligibility: All Confirmed Officers 90% of cost of vehicle subject to maximum of Rs 60000/- .      



Limit

Rate of Interest

Up to Rs 15000/-

7.5% simple

Above Rs 15000/-

12.00%

Repayment:     84 months (70 + 14)

(For Four Wheeler)
Eligibility: All Confirmed Officers 80% of cost of vehicle
subject to maximum of Rs 3.50 Lakhs

Limit

Rate of Interest

Up to Rs 80000/-

8.5% simple

Above Rs 80000/-

12.00%

Repayment:     200 months (120 + 80)

Second Car Loan facility available Loan for repairs to Motor Car
Maximum Rs 10000/- once in every five years for the purpose of carrying out the repairs
to the vehicle owned by the Officer.
Festival Loan (Interest Free)
One month’s Basic Pay - Maximum of Rs 25,000/-.

CONSUMER LOAN



OLD SCHEME

NEW SCHEME

Minimum 2 years of confirmed service

Minimum 3 years of confirmed service

90% of the cost of items

90% of the cost of items

Maximum Rs 10000/-

Maximum Rs 15000/-

Repayment 48 months

Repayment 60 months

Rate of Interest:10%

 

 

Marriage Loan

  • Permanent Employee with Minimum 2 years continuous service.
  • Quantum: 5 times of Gross Salary last drawn, subject to maximum of Rs 50,000.
  • Rate of Interest: Base Rate + 1% (Compounding).
  • Repayment Period : 60 Equal Monthly Installments
  • Restriction: A member of Staff availing Overdraft facility will ‘NOT’ be eligible for this Loan
Staff Housing Loan

[Ref: - CHO/PMG/39/2010-11 dated: 10.01.2011]

  • Eligibility: Any permanent officer of the bank
  • Purpose: Purchase of Land/House/Flat and Construction of House
  • Quantum: 90% of the total cost or 20 lakh whichever is less
  • Interest Rate
    • For sanction limit upto Rs 1.10 lakh – @ 5% (simple), p.a.
    • For above Rs 1.10 lakh – @ Base rate (simple), p.a.
  • Additional loan for the purpose of extension /renovation /repair of the house / flat already owned
    • Quantum :90% of the total cost or 4.00 lakh whichever is less
    • This additional loan will be available within overall revised housing loan limit, only after seven years of occupation of the house/flat created out of the staff housing loan if such loan for repair/renovation/extension has not been availed by the employee under any scheme during the past seven years.
  • Supplementary Housing Loan & UCO Shelter Loan availed by the staff members earlier
    • The outstanding Supplementary Housing Loan & UCO Shelter Loan/UCO Home Loan (as on date of the circular) availed by the staff members from our Bank may be allowed to be converted to Staff Housing Loan under this new scheme, on written request of the employee up to the ceiling of enhanced limit, provided the accounts are regular in all aspects and no installment is overdue, (provided further that UCO Shelter Loan/UCO Home Loan was not availed for acquiring a second house). However, the employees, for UCO Shelter Loan, who have taken the benefit of extension of repayment period beyond the date of superannuation (maximum period up to 65 years of age) will not be eligible for such concession.
    • b. The conversion of Supplementary Housing Loan & UCO Shelter Loan/UCO Home Loan to Staff Housing Loan will be permitted to the eligible Officers/ Award Staff as a onetime measure in the circumstances described under the above provision. Accordingly, eligible officers/employees should submit their applications in this regard latest by 30th June, 2011.
OD Facility to the members

[REF: CIRCULAR NO:CHO/PMG/25/2002 DT. 24.09.2002]
Eligibility: All confirmed officers after completion of 10 years of service.

Limit:


Years of Service

Limit

>10 years but <=15 years

2.00 lakh

>15 years but <=20 years

3.00 lakh

>20 years

3.50 lakh


ROI: 2% below BPLR or 10.5 % p.a on monthly rests, which ever is lower

 

Provident Fund

  • While the officers who are presently covered under the Pension Scheme and those who will join the Pension Scheme in terms of option being made available under Joint Note dated 27th April, 2010 shall continue to contribute 10% of the Pay towards Provident Fund, there shall be no matching contribution.
  • Officers of State Bank of India will continue to be covered by Contributory Provident Fund Scheme as hitherto.
  • Officers who are presently covered under Contributory Provident Fund Scheme who do not opt for Pension Scheme being made available under Joint Note dated 27th April, 2010 shall continue under the Contributory Provident Fund Scheme as hitherto.
  • There shall be no Provident Fund to officers joining the services of banks on or after 1st April 2010. They shall be covered by a Defined Contributory Pension Scheme, where the officer will contribute 10% of Pay plus Dearness Allowance and the bank will make a matching contribution. The Scheme shall be governed by the provisions of the Contributory Pension Scheme as introduced for employees of Central Government w.e.f. 1st January 2004 and modified from time to time.
Pension (other than State Bank of India)
  1. The terms of the Bank Employees’ Pension Regulations, 1995 dated 29th September 1995/ 26th March 1996 shall not apply to the officers who join the services of Banks on or after 1st April 2010; and they shall be covered by a Defined Contributory Pension Scheme, which shall be governed by the provision of the Contributory Pension Scheme introduced for officers of the Central Government w.e.f. 1st January 2004, and as modified from time to time. Necessary amendments to the relevant provisions of the Bank Employees’ Pension Regulations, 1995 dated 29th September 1995/ 26th March 1996 shall be carried out following the procedure in this regard.
  2. Further to Clause 6 of the Joint Note signed on 2nd June 2005 between representatives of Officers’ Associations and IBA, it is agreed between the parties as under:
    • With effect from 1st May 2005, the pension of officers who retired or died while in service during the period 1st April 1998 to 31st October 2002 will be re-fixed based on the definition of ‘Pay’ as defined in Clause 5 of the Joint Note dated 14th December 1999. No arrears of pension and commuted value of pension will be payable on account of such re-fixing of pension.
    • With effect from 1st May 2005, the pension of officers who retired or died while in service during the period 1st November 2002 to 30th April 2005 will be re-fixed based on the definition of ‘Pay’ as defined in Clause 6 of the Joint Note dated 2nd June 2005. No arrears of pension or commuted value of pension will be payable on account of such re-fixation of pension.
  3. Further to Clause 2(b) of the Joint Note dated 2nd June 2005, it is agreed between the parties as under:
    • On and from 1.5.2005, in the case of officers who retired during the period 1.4.1998 to 31.10.2002, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 1684 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100. Such increase or decrease in dearness relief for every said four points shall be calculated in the manner given below:

      Scale of Basic Pension
      per month

      The rate of Dearness Relief payable as a
      percentage of Basic Pension

      (i)      Upto Rs 3550

      0.24 percent

      (ii)     Rs 3551 to Rs 5650

      0.24 per cent of pension exceeding Rs 3550 plus 0.20
      per cent of the basic pension in excess of Rs 3550

      (iii)   Rs 5651 to Rs 6010

      0.24 per cent of Rs 3550 plus 0.20 per cent of the
      difference between Rs 5650 and Rs 3550 plus 0.12
      per cent of basic pension in excess of Rs 5650

      (iv)   Above Rs 6010

      0.24  per  cent  of  Rs  3550  plus  0.20  per  cent  of  the
      difference between Rs 5650 and Rs 3550 plus 0.12 per cent  difference  between  Rs 6010  and  Rs 5650  plus
      0.06 per cent of basic pension in excess of Rs 6010

    • In respect of retirees for the period 1.11.2002 to 30.4.2005 for whom pension has been revised w.e.f. 1.5.2005 based on definition of pay in terms of Clause 6(2)of the Joint Note dated 2nd June 2005, dearness relief shall be payable w.e.f. 1.5.2005 for every rise or be recoverable for every fall as the case may be of every four points over 2288 points in the quarterly average of All India Average Consumer Price Index for Industrial Workers in the series 1960=100 @ 0.18% of the basic pension.
    • In respect of officers who retire on or after 1.5.2005, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every four points over 2288 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100, at the rate of 0.18 per cent of basic pension.
    • In respect of officers who retired or died while in service on or after 1.05.2005 Dearness Relief shall be payable at 0.18% of the basic pension or family pension or invalid pension or compassionate allowance as the case may be. Dearness Relief in the above manner shall be paid for every rise or fall of 4 points over 2288 points in the quarterly average of the All India Average Consumer Price Index for industrial workers in the series 1960 = 100.
Note:

The Dearness Relief as above shall be payable for the half year commencing from the 1st day of February and ending with 31st day of July on the quarterly average of index figures published for the months October, November and December of the previous year and for the half year commencing from 1st day of August and ending with the 31st day of January on the quarterly average of the index figures published for the months of April,May and June of the same year.

Provident Fund Loan 

Refundable PF Loan

  1. Maximum 6 months BP at a time for all other purposes except Medical Purpose ( Medical Purpose: Maximum 3 months Basic Pay)
  2. Maximum limit of enjoyment of loan is 80% of own contribution
  3. 40% Net take home pay of the Gross salary inclusive of interest on Staff OD
  4. For Medical purpose, Medical Certificate to be attached
  5. Signature with seal of Branch Official on both sides of the application is required
  6. Maximum 48 installments for recovery of PF loan plus interest

Non- Refundable PF Loan

This loan is given for


  • Purchase of land
  • Purchase of House/Flat or
  • Construction of House or Additional Construction of Own house ( not for renovation/ repairing purpose)
  • These purpose are to be supported by documentary proof like Sale deed/ Agreement by a chartered valuer or Engineer‘s estimate with seal and signature with Registration number.
  • Non-Refundable Loan is not given for other purposes like Marriage/ Medical/ Education etc). Please also note that Non-Refundable Loan is not given for purchase of House or land to those who have already raised House Building Loan from Bank.
  • Non-Refundable loan is given only twice in Life time, but with a gap of at least 5 years.


Gratuity Payable
A   As per Gratuity Act :

  Last drawn Salary x 15/26 x No. of completed Year of service


                            (Where, Last drawn salary = BP + SA + FPA + PQA + DA
                            BP: Basic Pay SA: Special Allowance
                            FPA: Fixed Personal Pay
                            PQA: Personal Qualification Allowance
                             DA: Dearness Allowance

Maximum Gratuity Amount payable under Gratuity Act is Rs. 10 lacs.


B   As per OSR /Bipartite :

                         SALARY (N) =BP + FPA + PQA


  • For above 30 Years : =  N x No. of Years /2  + N x No. of Months /24 + N x No. of Days / 730
  • For more than 15 years but less than 30 Years : =  N x 15
  • For less than 15 years : =  N x No. of Years + N x No. of Months / 12 + N x No. of Days / 365

(Whichever is higher of A & B)

N.B: Minimum Service period is 5 yrs            



Entertainment Expenses

Scale of officer Revised Annual coiling after merger of monthly Business Dev. Expenses. (per annum)
1 2
Scale-VII 24000.00
Scale-VI-as Branch Head (BH) Zonal Head(ZH) 20000.00
Scale-VI-other than BH/ZH 12000.00
Scale-V- as Branch Head(BH)/ Zonal Head(ZH) 15000.00
Scale-V-other than BH/211 7500.00
Scale-IV- as Branch Head 12000.00
Scale-IV. other than BH 6000.00
Scale-III as Branch Head 8000.00
Scale-III other than BH 4000.00
Scale-II as Branch Head 6000.00
Scale-II other than BH 3000.00
Scale-I as Branch Head 5000.00
Scale-I-other than BH 2500.00