Home India Punjab National Bank In exercise of the powers conferred by sub section 1 and cla...
Date: 11-Aug-2023 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by sub section 1 and clause f of sub section 2 of section 19 of the Banking Companies

Issued by Punjab National Bank · Not Applicable

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

**Executive Summary:** This notification from the Punjab National Bank announces amendments to the Punjab National Bank Employees Pension Regulations, 1995. These amendments, effective from the date of publication in the Official Gazette unless otherwise specified, concern pension calculations for part-time employees, family pension amounts, and dearness relief. These changes are aligned with agreements between the Indian Banks Association and bank unions/associations. **Key Points / Main Content:** * **General:** * The regulations are called the "Punjab National Bank Employees Pension Amendment Regulations, 2023." * The amendments come into force on the date of their publication in the Official Gazette, unless otherwise stated. * **Pension Calculation for Part-Time Employees:** * Effective November 1, 2012, pension calculations for permanent part-time employees in scale wages will be based on actual service, not pro-rata. * Actual or qualifying service will be calculated from the date of recruitment/appointment as a permanent part-time employee in scale wages or from September 1, 1978, whichever is later. * **Ex-Gratia Payment:** * An ex-gratia payment is inserted for employees, other than part-time, who retired on or after November 1, 2012 (Rs. 2,785 per month). * An ex-gratia payment is inserted for part-time employees who retired on or after November 1, 2012. (Rs. 932 - Rs. 2,096 dependent on scale wages) * **Family Pension:** * Family pension for sons/daughters (including widowed/divorced) will be discontinued if their monthly income from employment/self-employment exceeds Rs. 10,000. * Family pension for parents will be discontinued if the income of one or both parents exceeds Rs. 10,000 per month. * The fixed amount for family pension is increased to Rs. 18,568 per month for employees (officers and workmen) who retired or died on or after November 1, 2012. * The fixed amount for family pension is increased to Rs. 9,284 per month for employees (officers and workmen) who retired or died on or after November 1, 2012. * **Dearness Relief:** * For employees retiring on or after November 1, 2012, dearness relief will be payable/recoverable for every 4-point change over 4440 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers (1960=100 series). * The dearness relief change will be calculated at 0.10% of basic pension for every said 4 points. * **Family Pension Amounts (Post Nov 1, 2012 Retirees):** * For pay up to Rs. 11,100: Basic family pension is 30% of pay, plus 30% of allowances counted for Provident Fund (but not Dearness Allowance), subject to a minimum of Rs. 2,785 per month. * For pay between Rs. 11,101 and Rs. 22,200: Basic family pension is 20% of pay, plus 20% of allowances counted for Provident Fund (but not Dearness Allowance), subject to a minimum of Rs. 3,422 per month. * For pay above Rs. 22,200: Basic family pension is 15% of pay, plus 15% of allowances counted for Provident Fund (but not Dearness Allowance), subject to a minimum of Rs. 4,448 and a maximum of Rs. 9,284 per month. **Impact Analysis:** **Stakeholder: Punjab National Bank Employees (Current and Retired)** * Impact: Changes to pension calculations (especially for part-time employees), family pension eligibility, and dearness relief affect the financial benefits received during and after employment. The changes have retrospective effect which may impact benefits already being received. * Action Required: Understand the revised regulations and how they impact individual pension amounts, eligibility for family pension, and dearness relief calculations. Update any income declarations as necessary to ensure continued family pension eligibility for dependents. **Stakeholder: Punjab National Bank (Administration/HR)** * Impact: Required to implement the amended regulations, recalculate pension amounts where applicable, and administer the revised family pension eligibility criteria. * Action Required: Update pension calculation processes, communicate changes to employees and pensioners, and ensure compliance with the new regulations. **Stakeholder: Family Members of Deceased or Retired PNB Employees** * Impact: Changes to family pension eligibility criteria based on income and revised family pension amounts impact the financial support received. * Action Required: Understand the revised eligibility criteria and report any changes in income that may affect family pension benefits.

Key Entities Referenced

Punjab National Bank: A major public sector bank in India, and the employer referenced in the policy document. Banking Companies Acquisition and Transfer of Undertakings Act, 1970: An Indian law that allows the government to nationalize banks. This act provides the legal basis for the regulations outlined in the notification. Reserve Bank of India: The central bank of India, consulted in the amendment process. Central Government: The government of India, which provided sanction for the amendments to the pension regulations. Punjab National Bank Employees Pension Regulations, 1995: The main policy document being amended by this notification. New Delhi: The location of the Head Office of Punjab National Bank and place of publication, New Delhi, Delhi. Indian Banks Association: An association representing various banks, involved in settlement and joint notes related to the pension regulations. All India Average Consumer Price Index for Industrial Workers: An economic index used to calculate dearness relief in pension payments.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-12082023-248078 xxxGIDHxxx CG-DL-E-12082023-248078 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 574] नई दिल्ली, िुक्रवार, अगस्ट्त 11, 2023/श्रावण 20, 1945 No. 574] NEW DELHI, FRIDAY, AUGUST 11, 2023/SHRAVANA 20, 1945 पिं ाब निै नल बकैं (मानव ससं ाधन जवभाग) प्रधान कार्ाला र्: नई दिल्ली अजधसचू ना नई दिल्ली, 10 अगस्ट्त, 2023 फा. स.ं प्र.का. पिें न/जवजवध/2023(अ).—बैंककारी कंपनी (उपक्रमों का अिान और अंतरण) अजधजनर्म, 1970 (1970 का 5) की धारा 19 की उप-धारा (1) और उप-धारा (2) के खडं (एफ) द्वारा प्रित्त िजिर्ों का प्रर्ोग करत े हुए, पंिाब नैिनल बैंक का जनिेिक मंडल, भारतीर् ररिवा बैंक के साथ परामिा करने के पश्चात तथा केंद्र सरकार की पवू ा स्ट्वीकृजत से, पंिाब नैिनल बैंक (कमाचारी) पिें न जवजनर्म, 1995 में संिोधन कर एतिद्वारा जनम्नजलजखत जवजनर्म बनाता ह,ै अथाात:् — 1. सजं िप्त िीर्का और प्रारंभ. —(1) र्े जवजनर्म पंिाब निै नल बैंक (कमाचारी) पिें न (संिोधन) जवजनर्म, 2023 कहलाएंगे। (2) इन जवजनर्मों में अन्र्था स्ट्पष्टतर्ा उपबंजधत के जसवार्, र्े सरकारी रािपत्र में अपन ेप्रकािन की जतजथ से लाग ूहोंगे। 2. पंिाब निै नल बैंक (कमाचारी) पेंिन जवजनर्म, 1995 में (इसके बाि उि जवजनर्मों के रूप म ें संिर्भात), जवजनर्म 27 में, नोट के स्ट्थान पर जनम्नजलजखत नोट को प्रजतस्ट्थाजपत दकर्ा िाएगा, अथाात:् - “नोट 1: 1 नवबं र 2012 स,े वेतनमान में स्ट्थार्ी अंिकाजलक कमाचारी, िो पेंिन र्ोिना द्वारा कवर दकए गए ह,ैं के संबंध में पेंिन की राजि की गणना के उद्देश्र् से, उनकी वास्ट्तजवक सेवा की गणना अहका सेवा के जलए की िाएगी न दक र्थानुपात में। 5217 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] नोट 2: वास्ट्तजवक सेवा र्ा अहका सेवा की गणना वेतनमान म ें स्ट्थार्ी अंिकाजलक कमाचारी के रूप म ें भती र्ा जनर्ुजि की जतजथ से र्ा 1 जसतंबर, 1978 स,े िो भी बाि में हो, से की िाएगी।" 3. उि जवजनर्मों के जवजनर्म 36 में, खंड (ई) के पश्चात, जनम्नजलजखत खंड को िोड़ा िाएगा, अथाात:् - (एफ) “01 नवंबर, 2012 को र्ा इसके पश्चात सेवाजनवृत्त हुए कमाचारी, अंिकाजलक कमाचारी के अजतररि, के संबंध म ें िो हिार सात सौ पचासी रुपए प्रजत माह, 01 नवंबर, 2012 को र्ा इसके पश्चात सेवाजनवृत्त हुए अंिकाजलक कमाचारी के संबंध म,ें वेतनमान का एक जतहाई आहररत करने वाले अिं काजलक कमाचारी के जलए नौ सौ बत्तीस रुपए प्रजत माह, वेतनमान का आधा आहररत करन े वाल े अिं काजलक कमाचाररर्ों के जलए एक हिार तीन सौ संतानव े रुपए प्रजत माह तथा वेतनमान का तीन चौथाई आहररत करने वाले अंिकाजलक कमचा ारी के जलए िो हिार जिर्ानवे रुपए प्रजत माह“ 4. उि जवजनर्मों के जवजनर्म 40 में, — (ए) उप-जवजनर्म (1) म,ें - (i) खंड (बी) म,ें प्रथम परंतुक के जलए, जनम्नजलजखत परंतुक प्रजतस्ट्थाजपत दकर्ा िाएगा, अथाात: - “बिते दक पुत्र अथवा पुत्री (जवधवा र्ा तलाकिुिा सजहत) को िेर् पररवार पिें न तब बंि कर िी िाएगी र्ा अनुमत्र् नहीं होगी िब पात्र पुत्र र्ा पुत्री सरकारी रोिगार र्ा जनिी िेत्र र्ा स्ट्वरोिगार आदि से िस हिार रुपए प्रजत माह से अजधक की राजि अर्िात करना िरुु कर िेत े ह।ैं “ ; (ii) खंड (सी) के जलए, जनम्नजलजखत परंतुक प्रजतस्ट्थाजपत दकर्ा िाएगा, अथाात: - “(सी) माता-जपता के मामल े म,ें पररवार पिें न बंि कर िी िाएगी र्ा अनुमत्र् नहीं होगी, र्दि सरकारी रोिगार र्ा जनिी िेत्र र्ा स्ट्वरोिगार आदि स,े माता-जपता में स े दकसी एक की आर् अथवा माता-जपता िोनों की कुल आर् िस हिार रुपए प्रजत माह से अजधक हो िाती ह।ै (बी) उप-जवजनर्म (4) म,ें - (i) खंड (ए) म,ें उप-खंड (v) के बाि, जनम्नजलजखत उप-खंड िोड़े िाएंग,े अथाात्: - “(vi) 1 नवंबर 2012 को र्ा उसके पश्चात सेवाजनवृत्त र्ा मृत हुए कमाचाररर्ों के संबंध में, अजधकाररर्ों और कामगारों िोनों के जलए, केवल अठारह हिार पांच सौ और अड़सठ रुपर् ेप्रजत माह "; (ii) खंड (बी) म,ें उप-खंड (v) के बाि, जनम्नजलजखत उप-खंड िोड़े िाएंग,े अथाात:् - “(vi) 1 नवंबर 2012 को र्ा उसके पश्चात सेवाजनवृत्त र्ा मृत हुए कमाचाररर्ों के संबंध में, अजधकाररर्ों और कामगारों िोनों के जलए, केवल अठारह हिार पांच सौ और अड़सठ रुपर् ेप्रजत माह "; (iii) खंड (सी) म,ें उप-खंड (v) के बाि, जनम्नजलजखत उप-खंड िोड़े िाएंग,े अथाात:् - “(vi) 1 नवंबर 2012 को र्ा उसके पश्चात सेवाजनवृत्त र्ा मृत हुए कमाचाररर्ों के संबंध में, अजधकाररर्ों और कामगारों िोनों के जलए, केवल नौ हिार िो सौ और चौरासी रुपर् ेप्रजत माह"; 5. उि जवजनर्मों के पररजिष्ट II म,ें खंड (4) म,ें िसू रे परंतुक के बाि, जनम्नजलजखत परंतुक िोड़े िाएंग,े अथाात्:- "बिते दक 1 नवंबर 2012 को र्ा उसके बाि सेवाजनवृत्त हुए कमाचाररर्ों के संबंध में, श्रृंखला 1960 = 100 में औद्योजगक कामगारों के जलए अजखल भारतीर् औसत उपभोिा मल्ू र् सूचकांक के जतमाही औसत म ें 4440 अंक के ऊपर, प्रत्र्ेक 4 अंकों के जलए, प्रत्र्ेक वृजि पर िेर् होगा तथा प्रत्र्ेक जगरावट पर वसूली र्ोग्र् होगा, िैसा भी मामला हो, और ऐसे प्रत्र्ेक 4 अंकों की महगं ाई राहत म ेंवृजि र्ा जगरावट की गणना मलू पेंिन के 0.10 प्रजतित की िर से की िाएगी।" 6. उि जवजनर्मों के पररजिष्ट III म,ें खंड (ई) के बाि, जनम्नजलजखत खंड िोड़ा िाएगा, अथाात:् - “(एफ) 1 नवंबर 2012 को र्ा उसके बाि सेवाजनवृत्त अंिकाजलक कमाचाररर्ों के अलावा कमाचाररर्ों (अजधकारी और कमाचारी िोनों) के संबंध म:ें[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3 वते नमान प्रजतमाह माजसक पररवार पिें न की राजि (1) (2) रु. 11,100 तक वेतन का 30 प्रजतित मूल पररवार पिें न होगी तथा भत्ते का अजतररि 30 प्रजतित, जिसकी गणना भजवष्र् जनजध म ें अंििान के जलए की िाती ह,ै परंत ु महगं ाई भत्त े के जलए नहीं, अजतररि पररवार पेंिन होगी: बिते दक मलू और अजतररि पररवार पेंिन का र्ोग रु. 2785 प्रजत माह से कम नहीं होगा। रु. 11,101 से वेतन का 20 प्रजतित मूल पररवार पिें न होगी तथा भत्ते का अजतररि 20 प्रजतित, जिसकी रु. 22,200 तक गणना भजवष्र् जनजध म ें अंििान के जलए की िाती ह,ै परंत ु महगं ाई भत्त े के जलए नहीं, अजतररि पररवार पेंिन होगी: बिते दक मलू और अजतररि पररवार पेंिन का र्ोग रु. 3422 प्रजतमाह से कम नहीं होगा। रु. 22,200 से अजधक वेतन का 15 प्रजतित मलू पररवार पिें न होगी तथा भत्त े का अजतररि 15 प्रजतित, जिसकी गणना भजवष्र् जनजध म ें अंििान के जलए की िाती ह,ै परंत ु महगं ाई भत्त े के जलए नहीं, अजतररि पररवार पेंिन होगी: बिते दक मूल और अजतररि पररवार पेंिन का र्ोग रु. 4448 प्रजत माह स े कम नहीं और ₹9284 से अजधक नहीं होगा। व्याख्र्ात्मक ज्ञापन उि जवजनर्म, जिन्ह ें पूवाव्यापी प्रभाव दिर्ा गर्ा ह,ै संर्ुि नोटों और जनपटान के जलए सहमत जनर्मों व ितों के अनुसार, संबंजधत बैंकों द्वारा दिए गए जविेर् अजधिेि के आधार पर सिस्ट्र् बैंकों की ओर स े भारतीर् बैंक संघ और बैंकों के िीर् ा स्ट्तर पर कामगार सघं ों तथा अजधकारी संघों के बीच हस्ट्तािररत ह।ैं अत: इस तरह के पूवाव्यापी प्रभाव स े दकसी व्यजि के जहतों पर प्रजतकूल प्रभाव नहीं पड़ेगा। सुमेि कुमार, महाप्रबंधक-मानव संसाधन जवकास [जवज्ञापन III/4/असा./356/2023-24] नोट: मूल जवजनर्म भारत के रािपत्र म ें अजधसूचना संख्र्ा पीएनबी/आईआर/1/95, दिनांक 29 जसतंबर, 1995 के माध्र्म से प्रकाजित दकए गर् े और बाि में भारत के रािपत्र के भाग III, खंड 4 में प्रकाजित जनम्नजलजखत अजधसूचनाओं द्वारा संिोजधत दकर्ा गर्ा था, अथाात ् :— क्र०स०ं अजधसचू ना सख्ं र्ा अजधसचू ना की जतजथ प्रकािन की जतजथ 1 - 15.2.1999 27.3.1999 2 एचआरडीडी/आईआर/बीएस-25(पी) 27.3.2002 8.4.2002 3 पेंिन/जवजवध/2002 23.12.2002 18.1.2003 4 पेंिन/जवजवध/2004 12.8.2004 28.8.2004 5 पेंिन/जवजवध/2009 7.6.2010 26.6.2010 6 पेंिन/जवजवध/2015 24.3.2015 2.5.2015 7 प्र०का०: पेंिन: जवजवध 2017 28.12.2017 27.1.20184 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] PUNJAB NATIONAL BANK (HUMAN RESOURCES DEPARTMENT) Head Office: New Delhi NOTIFICATION New Delhi, the 10th August, 2023 F.No. HO:Pension/Misc/2023 (E)—In exercise of the powers conferred by sub-section (1) and clause (f) of sub-section (2) of section 19 of the Banking Companies ( Acquisition and Transfer of Undertakings ) Act, 1970 (5 of 1970), the Board of Directors of the Punjab National Bank, after consultation with Reserve Bank of India and with the previous sanction of the Central Government, hereby makes the following regulations further to amend the Punjab National Bank (Employees’) Pension Regulations, 1995, namely:— 1. Short title and commencement. — (1) These regulations may be called the Punjab National Bank (Employees’) Pension (Amendment) Regulations, 2023. (2) Save as otherwise expressly provided in these regulations, they shall come into force on the date of their publication in the Official Gazette. 2. In the Punjab National Bank (Employees’) Pension Regulations, 1995 (hereinafter referred to as the said regulations), in regulation 27, for the note, the following note shall be substituted, namely: — “Note 1: With effect from 1st November 2012, for the purpose of calculating the amount of pension in respect of permanent part-time employees in scale wages who are covered by the Pension Scheme, their actual service shall be reckoned for qualifying service and not pro-rata. Note 2: The actual service or qualifying service shall be calculated from the date of recruitment or appointment as permanent part-time employee in scale wages or from 1st September, 1978, whichever is later.”. 3. In regulation 36 of the said regulations, after clause (e), the following clause shall be inserted, namely: — “(f) rupees two thousand seven hundred and eighty-five per month in respect of an employee, other than a part- time employee, where the employee retired on or after 1st day of November 2012, rupees nine hundred and thirty-two per month in respect of a part-time employee drawing 1/3 scale of wages, rupees one thousand three hundred and ninety-seven per month in respect of part-time employee drawing ½ scale wages, and rupees two thousand and ninety-six per month in respect of a part-time employee drawing ¾ scale wages, where the part- time employee retired on or after the 1st day of November 2012.”. 4. In regulation 40 of the said regulations, — (a) in sub-regulation (1), — (i) in clause (b), for the first proviso, the following proviso shall be substituted, namely: — “Provided that the family pension payable to son or daughter (including widowed or divorced) shall be discontinued or not be admissible when the eligible son or daughter starts earning a sum in excess of rupees ten thousand per month from employment in Government or private sector or self-employment, etc.”; (ii) for clause (c), the following clause shall be substituted, namely: — “(c) in the case of parents, the family pension shall be discontinued or not be admissible if the income of one of the parents or the aggregate income of both the parents from employment in Government or private sector or self-employment, etc. exceeds rupees ten thousand per month.”; (b) in sub-regulation (4), — (i) in clause (a), after sub-clause (v), the following sub-clause shall be inserted, namely: — “(vi) eighteen thousand five hundred and sixty-eight rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of November 2012.”; (ii) in clause (b), after sub-clause (v), the following sub-clause shall be inserted, namely: — “(vi) eighteen thousand five hundred and sixty-eight rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of November 2012.”; (iii) in clause (c), after the sub-clause (v), following sub-clause shall be inserted, namely: —[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 5 “(vi) nine thousand two hundred and eighty-four rupees per mensem only in respect of employees, both officers and workmen, who retired or died on or after 1st day of November 2012.”. 5. In Appendix II to the said regulations, in clause (4), after the second proviso, the following proviso shall be inserted, namely: — “Provided also that in respect of employees who retired on or after 1st day of November 2012, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 4440 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100 and such increase or decrease in dearness relief for every said 4 points shall be calculated at the rate of 0.10 per cent. of basic pension.”. 6. In Appendix III to the said regulations, after clause (e), the following clause shall be inserted, namely: — “(f) In respect of employees (both officers and workmen) other than part-time employees retiring on or after 1st day of November 2012: Scale of pay per month Amount of monthly family pension (1) (2) Upto Rs.11,100 30 per cent. of the pay shall be the basic family pension and additional 30 per cent. of allowances which are counted for making contribution to Provident Fund but not for dearness allowance, shall be the additional family pension: Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.2785 per month. Rs.11,101 to Rs. 22,200 20 per cent. of the pay shall be basic family pension and additional 20 per cent. of allowances which are counted for making contributions to Provident Fund but not for dearness allowance, shall be the additional family pension: Provided that the aggregate of basic and additional family pension shall be subject to minimum of Rs.3422 per month. Above Rs.22,200 15 per cent. of the pay shall be the basic family pension and additional 15 per cent. of allowances which are counted for making contributions to Provident Fund but not for the dearness allowance, shall be the additional family pension: Provided that the aggregate of basic and additional family pension shall be subject to a minimum of Rs.4448 per month and maximum of Rs.9284 per month.”. Explanatory Memorandum The regulations which have been given retrospective effect are as per the agreed terms and conditions of the settlement and Joint Note signed between the Indian Banks’ Association on behalf of member banks on the basis of specific mandate given by the respective banks in this regard and apex level workmen unions and officers’ associations of the Banks. Therefore, interests of no person shall be adversely affected by such retrospective effect. SUMESH KUMAR, (General Manager-HRD) [ADVT.-III/4/Exty./356/2023-24] Note: The principal regulations were published in the Gazette of India, vide notification number PNB/IR/1/95, dated the 29th September, 1995 and subsequently amended, vide the following notifications published in Part III, Section 4 of the Gazette of India, namely: — Sr. Notification number Date of notification Date of publication No. 1 - 15.2.1999 27.3.1999 2 HRDD/IR/BS-25(P) 27.3.2002 8.4.2002 3 Pension/Misc/2002 23.12.2002 18.1.2003 4 Pension/Misc/2004 12.8.2004 28.8.2004 5 Pension/Misc/2009 7.6.2010 26.6.2010 6 Pension/Misc/2015 24.3.2015 2.5.2015 7 HO: PENSION: MISC 2017 28.12.2017 27.1.2018 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research