House Rent Allowance. In substitution of Clause 9 of the Bipartite Settlement dated 27th April 2010 with effect from 1st November 2012, the House Rent Allowance payable shall be as under: Area Rateaspercentage of Pay [No Minimum/ No Maximum]
(i) Places with population of more than 45 lakhs and Project Area Centres in Group ‘A’ 10.00%
(ii) Places with population of 12 lakhs and above including State of Goa and Project Area Centres in Group ‘B’ 9.00%
(iii) Other places not covered in (i) and (ii) above 7.50%
House Rent Allowance. 40% of the Basic Salary
House Rent Allowance. (HRA): HRA at the rate of 40% of the Basic Salary. In addition, the expenditure incurred on furnishings, repairs/ upkeep and maintenance, society charges and utilities (e.g. gas, fuel, electricity, water charges, etc.) of residential accommodation shall be reimbursed on actual basis.
House Rent Allowance. The Company will provide furnished housing in Bangalore to the employee subject to a maximum rent of Rupees 5,200 (Rupees Five Thousand Two Hundred Only) per month including maintenance and building charges.
House Rent Allowance. (HRA): HRA at the rate of 40% of the Basic Salary.
House Rent Allowance. 8.1.1 The existing House Rent Allowance of Rs.75/- per month will be increased to Rs.100/- per month with effect from 1.7.2004 and will be paid to those employees who have not been provided with residential accommodation.
House Rent Allowance. AIBEA Rs. Rs.
(i) Group ‘A' - 7.5% Min. 30 Min. 25 of pay subject to Max. 70 Max. 60 (ii) Group ‘B' - 7% of Min. 25 Min. 20 Pay Subject to Max. 60 Max. 55 In partial modification of Clause 8.2 (b) of the Settlement between IBA and AIBEA dated 19.10.1966, house rent allowance in project areas, if quarters are not provided by the Bank will be as under:
House Rent Allowance. If employee stays in rental accommodation, then rent can be claimed as per IT Act. Employees shall spend during the year and provide rental receipt at the end of the year for IT proof verification. Applicable limits for Band A1 and above. EDUCATION CONTINUITY Eligibility will be based on recommendation from Manager. The maximum eligible amount is Rs.50,000/- per annum, this amount spent by employees and reimbursed by Company. This amount will be deducted from salary on monthly basis over 12 months and the amount is reimbursed to employee by end of March. Applicable limits for Band A2 and above. FURNITURE AND ELECTRONICS (F&E) Based on the eligibility the maximum eligible amount is Rs.1,00,000/- per annum, this amount spent by employees and reimbursed by company. This amount is deducted from salary on monthly basis over 12 months and the amount is reimbursed to employee by end of March. Applicable limits for Band B2 and above.
