Arrears Calculation sheet by Bank of Baroda
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Chandrashekhar Belsare
Dec 10, 2019, 11:18:52 PM12/10/19
to bankpensioner
I am enclosing herewith arrears calculation sheet by Bank of Baroda received from my friend. There is recovery shown in the sheet. According to BOB HR dept there is recovery in case of some 3500 pensioners. In the enclosed sheet arrears receivable on account of commutation and interest are shown to be set off against over payment of DA arrears resulting in net recovery. Experts in the group are requested to verify the correctness and logic of the calculations and offer their comments.
Chandrashekhar Belsare
Mohandas Rao K
Dec 11, 2019, 5:14:10 AM12/11/19
to bankpe...@googlegroups.com
Sir,
I have gone through the calculation sheet. The first sheet shows the summary wherein the Basic Pension/Commutation as on the date of retirement and as on 01.05.2005 the basic pension/commutation etc. are clearly mentioned. The file contains only five sheets and calculations up to 31.08.2016. Further calculations from 01.09.2016 to 10.11.2019 is not made available.
It appears that earlier the pensioner had been paid arrears aggregating to Rs.1,28,290/- towards 1616_1684 point arrears and notional service arrears. The commutation arrears together with the previous two arrears payable being Rs.1,17,013/-only, according to them, a net recovery of Rs.11,277/- has been made.
2. The net Commutation of Rs.421 x 180 = Rs.75,780/- together with 9% interest on reducing balance method has been recovered wrongly by the bank. SBI has followed the correct method of payment in respect of e-SBM Pensioner Petitioners. a) The bank has paid the arrears for the age [commutation factor] as on the date of retirement. b) Paid 9% interest on reducing balance [which we do not agree, and demand a different method of calculation]. c) Recovery to start from the next month of payment of arrears in 180 monthly instalments.
3. I could not check the accuracy of the old and new DA calculations, as it is a cumbersome job and requires much time.
K. MOHANDAS RAO
On Wed, 11 Dec 2019 at 09:48, Chandrashekhar Belsare <crbe...@gmail.com> wrote:
I am enclosing herewith arrears calculation sheet by Bank of Baroda received from my friend. There is recovery shown in the sheet. According to BOB HR dept there is recovery in case of some 3500 pensioners. In the enclosed sheet arrears receivable on account of commutation and interest are shown to be set off against over payment of DA arrears resulting in net recovery. Experts in the group are requested to verify the correctness and logic of the calculations and offer their comments.Chandrashekhar Belsare
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Chellappa Renganathan
Dec 11, 2019, 5:15:12 AM12/11/19
to bankpensioner
As per Supreme Court original order and subsequent contempt petition order difference in commutation amount shoud be recovered in 180equal monthly equal instalments from the date of disbursement now Mae only and should not be recovered from the retrospective date.Hence you may suitably write to your Head office requesting them to recredit the differential amount immediately and start recovering in 180 monthly instalments from next month onwards ciing that simultaneous recovery is not only a violation of supreme Court orders but also contempt of court proceedings.
Asok Bhaumik
Dec 11, 2019, 11:09:41 PM12/11/19
to bankpe...@googlegroups.com
Not understood. Only BOB HR. can rationale the logic behind the calculation.
On Wed 11 Dec, 2019 09:49 Chandrashekhar Belsare, <crbe...@gmail.com> wrote:
I am enclosing herewith arrears calculation sheet by Bank of Baroda received from my friend. There is recovery shown in the sheet. According to BOB HR dept there is recovery in case of some 3500 pensioners. In the enclosed sheet arrears receivable on account of commutation and interest are shown to be set off against over payment of DA arrears resulting in net recovery. Experts in the group are requested to verify the correctness and logic of the calculations and offer their comments.Chandrashekhar Belsare
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Kishalaya Mukherjee
Dec 11, 2019, 11:09:43 PM12/11/19
to bankpe...@googlegroups.com
From the worksheet it is clear that the bank has recovered Rs.421/- per month from September 2001to August 2016 (180 months). The worksheet represents the difference between what they have actually paid as arrear on 06/06/2018 (50,015+66,998=1,17,013/-) and recalculated arrear after recovering difference of commuted amount (421/-pm) which is approximately (38,775+51869= Rs.90,644/- So, as per their calculation (117013 - 90,644 = Rs.26,369/- is recoverable by the bank. It's not clear how much they have credited his account. This is my observation. Commutation difference and interest thereon is perfect. Commutation factor of Rs.9.81 indicates that the date of birth of the pensioner is a few months before 31/08/1941. Other things mentioned there are not clear.
Kishalaya Mukherjee
On Wed, 11 Dec, 2019, 9:48 AM Chandrashekhar Belsare, <crbe...@gmail.com> wrote:
I am enclosing herewith arrears calculation sheet by Bank of Baroda received from my friend. There is recovery shown in the sheet. According to BOB HR dept there is recovery in case of some 3500 pensioners. In the enclosed sheet arrears receivable on account of commutation and interest are shown to be set off against over payment of DA arrears resulting in net recovery. Experts in the group are requested to verify the correctness and logic of the calculations and offer their comments.Chandrashekhar Belsare
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Subramanian K
Dec 17, 2019, 5:08:51 AM12/17/19
to bankpe...@googlegroups.com
Wantonly they ste doing it.
Sheer audacity.cal of revised commutation is a simple matter
. Diff plus int amount for the delay.
Shame
This message is eligible for Automatic Cleanup! (Friends,Bank of Baroda has now realised that the Calculations for the Commutation Arrears they have made is defective. Please go through the attachment.
K. MOHANDAS RAO
On Wednesday, December 11, 2019 at 9:48:52 AM UTC+5:30, Chandrashekhar Belsare wrote:
I am enclosing herewith arrears calculation sheet by Bank of Baroda received from my friend. There is recovery shown in the sheet. According to BOB HR dept there is recovery in case of some 3500 pensioners. In the enclosed sheet arrears receivable on account of commutation and interest are shown to be set off against over payment of DA arrears resulting in net recovery. Experts in the group are requested to verify the correctness and logic of the calculations and offer their comments.Chandrashekhar Belsare
--
Visit our blog site http:://bankpensioner.blogspot.com
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JSOMA SHEKARA
Dec 17, 2019, 11:23:00 PM12/17/19
to bankpe...@googlegroups.com
Bank managements are playing tricks while implementing SC orders because
1.Lack of accountability.
Actually head of Bank MD has responsibility to ensure that Banks adhere to rules and regulations and court orders respected by staff. But MDs are party to such disrespect of court orders as this pertains Bank pensioners and no body is questioning them. If Bank management had taken such liberty to play tricks while implementing OROP disbursement ,many heads would have been rolled. Banks calculated OROP to defense pensioners whose numbers are 4-5 times more than pre-2002 pensioners and did it perfectly in record time. Banks have infrastructure, experienced staff to calculate Commutation arrears with in one week. Deliberately they are playing games with Bank pensioners.
2. Unions are sleeping over matter as it did not pertain to them.
To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/1128262392.117452.1576558787863%40mail.yahoo.com.
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