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[Cites 0, Cited by 0] [Section 1960] [Entire Act]

Union of India - Subsection

Section 1960(2) in Canara Bank (Employees') Pension Regulations, 1995

(2)In the case of employees who are in workmen cadre and who retire on or after 1st day of November, 1992; and in the case of employees who are in the officers' cadre and who retire on or after 1st day of July, 1993, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 1148 points in the quarterly average of 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 as a percentage ofbasic pension
(1) (2)
(i) Upto Rs.2400 0.35 per cent
(ii) Rs.2401 to Rs.3850 0.35 per cent of Rs.2400 plus 0.29 per cent ofbasic pension in excess of Rs.2400.
(iii) Rs.3851 to Rs.4100 0.35 per cent of Rs.2400 plus 0.29 per cent ofthe difference between Rs.3850 and Rs.2400 plus 0.17 per cent ofbasic pension in excess of Rs.3850.
(iv) Above Rs.4100 0.35 per cent of Rs.2400 plus 0.29 per cent ofthe difference between Rs.3850 and Rs.2400 plus 0.17 per cent ofthe difference between Rs.4100 and Rs.3850 plus 0.09 per cent ofbasic pension in excess of Rs.4100.