Annual Report 2012 - National Savings Bank

164BRANCHING OUT INTO NEW VENTURESSUSTAINABILITY REVIEWbefore 1 October 1995. The Bank’scontribution to the pension fundis made monthly at the rate of20% on gross salary. In total, 974employees are entitled to the scheme.Employees who joined the Bank after1st October 1995 and opted to bethe members of the contributorypension scheme must contribute tothe fund at the rate of 13.5% of theirgross salary, every month. In total,seven employees are entitled to this. GratuityThe Bank has made provisions forgratuity payments for employees whojoined the Bank after 1st October1995 and did not want to join thecontributory pension scheme.The Bank conducted an actuarialvaluation on these retirementobligations at the end of 2012.Defined Contribution PlansThe dened contribution schemesare the EPF and ETF. The Bankcontributes to the ETF on the basis ofgross salaries of employees. For furtherinformation please refer Note no. 2.6 ofthe Financial Statements on page 216.HUMAN RIGHTS AND EQUALOPPORTUNITYSafeguarding Human RightsNSB provides equal employmentopportunities for all persons regardlessof race, color, religion, age, gendermarital status, national origin ordisability. Recruitment, hiring,compensation, benets, transfers,training and development, educationalassistance, recreational programmes,and promotion of individuals in alljob classications are conductedwithout discriminating on race, colour,religion, nationality, age, gender andphysical disability, except where abona de occupational qualicationexists. Employment and promotionaldecisions are made in such a manneras to further the principle of equalemployment opportunity, based uponselection criteria that is job related.The Bank is committed to providing awork and learning environment that isfree of any kind of harassment. NSBconsiders harassment in all formsto be a serious offence. Vendors,visitors, customers and guests too,are prohibited from harassing otherindividuals while in the Bank’spremises. NSB will not make a decisionabout hiring, promotion, discharge,compensation, benets, training orany other aspects of employment,based on an individual’s disability, ifthe concerned individual is qualiedfor the job. The Bank is committed toprovide a safe and healthy work placefor all employees. Management andall employees working in the Bankshare the responsibility for the successof the safety and health procedures attheir respective branches/ divisions.In addition, as a responsible employer,NSB adheres to the InternationalLabour Organisation’s conventionon upholding the right to freedom ofassociation of all NSB employees.Human Rights TrainingDuring the year, six employees who aremembers in trade unions, participated inNATIONAL SAVINGS BANK . ANNUAL REPORT 2012