Chief Executives of Member Banks which
Are parties to the 7th Bipartite Settlement
the Hon,ble Supreme Court of India by Bank of Baroda & Ors. With other
2018 on the captioned subject.
above circular. Kindly read as under-
“On 29-10-1993, a Bi-partite Settlement was signed at Industry level
between India Banks’ Association (representing member Banks) and Workmen
Unions (representing Workmen) under the provisions of Industrial Dispute
Act, 1947 for introduction of Pension as a second retiral benefit in lieu
of “Banks contribution to Provident fund”. On similar lines a Joint Note
dated 29-10-1993 between Indian Banks’ Association (representing member
Banks) and Officers Association (representing Officers) was signed”.
Click Here to View Circular
Click here to view SUPREME COURT JUDGEMENT
FOLLOW US FOR LATEST UPDATES ON FACEBOOK AND TWITTER