RBE No. 61/2009: Money Value – Vacancy Bank

No. E(MPP)2008/1/81, dated 02.04.2009

Sub: Calculation of money value of posts surrendered and crediting to surplus bank.

Ref:  (i)    Board’s letter No.E(MPP)96/1/15, dated 04.04.1997,

        (ii)    Board’s letter No.E(MPP)96/1/15/Pt., dated 30.09.2004 (RBE No. 214/2004).

1. In view of implementation of VI CPC recommendations w.e.f. 01.01.2006, reference are being received from Railways seeking clarification for calculating the money value of the posts surrendered and crediting to surplus Bank. As Ministry of Finance has not issued instructions in this regard, the following provisional instructions are being issued subject to necessary adjustments in calculation in case the orders from MOF are at variance.

2. It has been decided to modify para 3 of Board’s letter referred at (ii) above as under:

“For the purpose of working out the monetary value of the posts being surrendered, only the mean pay of pay band plus corresponding Grade Pay and Dearness Allowance as on the date of creation/ surrender of posts should be taken into account.”

2.1   The above is explained with the following illustration of surrender of a post in Pay Band II i.e. Rs.9300-34800:

(i)    Mean pay of Pay Band – Rs.22050 (9300+34800=44100/2)

(ii)    Corresponding Grade Pay – Rs.4600

(iii)   Dearness Allowance – Rs.5863 (22%* of Mean Pay & Grade Pay)

Total – Rs.32513

*DA rates as applicable.

3.     Similar calculation may be adopted for posts surrendered w.e.f. 01.01.2006 and Vacancy Bank may be accordingly modified.

4.     This issues with the concurrence of the Finance Directorate of the Ministry of Railways.

5.     Receipt of the letter may please be acknowledged. 

6.     Hindi version will follow.

Download Railway Board Circular RBE No.61/2009

Forward reference ⇒ RBE No.