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Introduction
1.
In an addition to competitive base salaries and incentive opportunities MCB also offers
comprehensive and competitive benefits to both full time and part time employees.
Compensation is one of the top issues which the employees look at when they want to join
organization.
Motivational Environment and Merit Culture
2.
MCB ensures motivational environment and merit culture throughout its operational
units. It is a Bank that encourages its employees to do their best and get equal reward, position
and monetary incentive on performance and merit basis. The incentive-based pay system at Bank
encourages competition among the employees and fosters the talent of staff members to perform
their tasks remarkably with commitment.
3.
deliverables from the leadership to the front line managers ensuring that all employees contribute
to the overall objectives of the bank as one team.
4.
The Bank compensates its employees well in accordance with their work performance
and completion of targets. Hence, employees are rewarded timely and meritoriously that
provides exceptional results in the context of organizational effectiveness and employee
motivation.
Equal Opportunity Employer
5.
MCB Banks recruitment policies provide unbiased criteria for hiring people from any
religion as long as they qualify for the professional criteria required by the Bank. Culture at
MCB Bank also depicts a healthy, team based and cooperative environment. As of 2013, the
Bank held a ratio of 9,142(88%) male and 1,230 (12%) female ratio with approximately 1 % of
the employees from the minority population of the country.
Reward Award Program
6.
In order to provide the due recognition and incentive to the staff and keep them motivated
this Program is successfully being run by SQ. Realizing that employees are a valuable
commodity in todays ever-changing workplace, and recognition is a key component to employee
satisfaction, we feel that Service Awards are an ideal way to ensure that all of our employees
receive the recognition they need to be productive members of the corporate team. In the Year
2013, around 1,175 Employees were given Cash Awards on providing excellent service to the
customers. Moreover, 657 Employees were recognized on monthly performance and were
awarded with Employee of the Month award. Apart from this the collective efforts of Teams
were recognized from all Groups Quarterly and yearly and were awarded with Service Team of
the Quarter and Team of the Year Awards.
Compensation and Benefits
7.
Staff monthly salary is to be disbursed before the end of each month usually on
26th/27th of the month. In order to disburse salary on time, branches are advised to ensure that
all salary amendments must reach HRD latest by 20th of every month as per.
Advance against Salary
8.
Employees in need of funds for an emergency may be allowed advance against salary
for the current month to be adjusted in full on disbursement of salary. Since this facility is only
meant for emergencies, no staff member may be allowed to make a habit for applying for such
advance. Approval shall be obtained from the Departmental Head/ Branch Manager and
forwarded to HRD. As a matter of policy, a staff member may avail this facility only twice
during a calendar year under the following conditions:-
(a)
If the staff member is proceeding on leave and next payday falls during
vacation period.
(b)
In case of emergency.
Salary deduction on account of leave without pay will apply to the entire salary
package of the concerned employee, including allowances and perks. Moreover, weekends and
public holidays falling during this period will also be considered as part of leave without pay.
Salary & Allowances for Officers & Executives (Minimum starting pay)
Salary and allowances of officers and executives of the Bank is as follows:
(All Amounts in PKR)
Driver
Furnit.
Telep.
s All.
-
Maint. All.
1,500
Resid.
-
1,500
1,500
27,000
1,750
1,500
33,250
4,500
2,500
3,000
47,500
6,000
3,500
4,000
88,500
7,500
5,000
5,500
115,500
Range
Basic House
Util
Conv
I
II
III
IV
3,500
5,500
8,000
12,00
1,400
2,200
3,200
4,800
350
550
800
1,20
500
750
1,000
1,250
0
16,00
6,400
0
1,60
VI
0
20,00
8,000
0
2,00
VII
0
25,00
10,000
0
2,50
VIII
0
50,00
20,000
0
5,00
IX
0
65,00
26,000
0
6,50
Gross
5,750
9,000
13,000
20,750
Salary
&
Allowances
Cadre
Supervisory
Secretary / Protocol /
Any
supervisory
for
Non-Officers
(Minimum
starting
Basic
House
Utilities
Conveyance
Gross
5,000
2,000
500
400
7,900
3,500
1,400
350
300
5,550
2,000*
800
200
200
3,200
pay)
Position
Clerical
Assistant / Cashier /
Typist / Technical Staff
(Maintenance)
Non-Clerical
Peon / Tea / Office Boy
Driver / Guard / NonTechnical
(Maintenance)
Staff
/
Sweeper / Cleaner
Accommodation
5.
At the discretion of the management, officers posted in business units such as Car
Finance, Credit Cards, BDO, Home Loans, Agriculture Finance, Credit Marketing are allowed
payment of Fuel Allowance ranging between 50 ltrs. to 200 ltrs. (based on their functional
requirements if recommended by concerned Heads of Division / Departments).
Mobile Phone Facility
7.
Those who are below salary range VII but due to their functional requirement need
mobile phone facility, will be eligible for reimbursement of upto maximum Rs.1,500/- per month
subject to maintenance of their own mobile phone set.
Title Allowance
8.
Executives-in-Charge may be paid Title Allowance till such time they hold these positions.
Officer Position
Executives-in-charge
Area Managers
Product Heads
Assistant Executives-in-charge
Branch Managers
Chief Cashiers
Tellers/Cash Officers
Objective.
maintained transport facility to the Banks senior officers, to be used by them for officecum personal use.
(b)
Eligibility.
above upon joining the Banks service, or on being promoted to such salary range.
(c)
Entitlement.
Types of cars and fuel entitlement for various salary ranges are
detailed below:
Fuel
Salary Range
Type of Car
VII
VIII
IX
1300 CC
1300 CC GL or Equivalent
1500 CC / 1300 CC
Limit Bank
(In liters)
250
300
500
Maintained
Yes
Yes
Yes
Management of the Bank may allow Bank car facility (1000 c.c.) plus fuel upto
liters per month to officers in salary range VI, based on their functional
200
requirements
Executives-in-
Charges and Area Managers will be eligible to have second car (1300 c.c.) based on their
functional requirement. Area Managers may also avail additional 100 liters fuel in addition
to their fuel entitlement mentioned in above (upto maximum 500 liters).
(e)
Profit Bonus will be paid to the employees as and when declared by the Banks
Management, based on guidelines provided in the respective bonus circular. Special cash
awards/Ex-gratia/Bonuses may be paid based on outstanding performance with the approval of
CEO.
Provident Fund (PF)
10.
Employee Provident Fund Scheme. An employee will contribute an amount equivalent to one
months basic salary in a year (8.33% of monthly basic salary) towards the Provident Fund
Scheme and an equivalent amount will be contributed by the Bank. PF deduction will continue to
be made from monthly salary even if an employee has resigned and is working during the notice
period. Membership of PF Scheme will be automatically cancelled on the last working day of the
notice period.
Staff Insurance
11.
The Bank has arranged the following types of insurance for its full time staff, at its
own expense. The Banks Management may decide, at its discretion, to apply some or all of the
benefits of any of these policies to staff engaged on contractual basis. Various features relating to
these policies are subject to amendment from time to time. Benefits currently available are
briefly introduced below:(a)
employees and their dependent parents, spouse and children is renewed annually. It is
emphasized that only those eligible employees who have sent the requisite Family
Information Form complete in all respect are covered under this policy. Family /
dependents of all regular employees and contractual employees above 60 years of age are
covered. All other contractual employees below 60 years of age are covered for SELF
only. Male children above 25 years of age, male children below 25 years but married or
engaged in a gainful employment, married daughters, working spouse if availing medical
facility from any other source and dependent parents not residing with the employee will
not be covered under banks hospitalization policy.
(c)
covered upto the outstanding balance of House Finance liability (in the name of
concerned employee or spouse) with the Bank would be taken over by the Insurance
Company and no liability will be borne by the family of the deceased (subject to
completion of certain formalities required by the insurance company).
(d)
are covered upto the outstanding Conveyance Finance liability with the
Bank
which
be borne by
payroll (whether in regular or contractual employment), upto the age of 65 years, will be
covered under the Group Life Insurance arranged through insurance company.
In addition to life coverage, the Bank will has also obtained coverage for permanent
disability due to accident and sickness upto the age of 60 years. In case of disability,
benefit will be paid according to percentage of disability as per schedule provided by the
insurance company.
The insurance policy is subject to conditions and exclusions provided by the insurance
company details of which shall be maintained by the Human Resources Division.
Provident Fund
(b)
Gratuity Payment.
will be payable. If period of service is 05 years and above, gratuity will be payable
equivalent to one months basic salary (last drawn) for each completed year of
service. Unpaid study leave or long leave without pay will not be considered for
payment of Gratuity or any other benefit. Encashment of un-availed Privilege Leave
(only in case of death / termination / Voluntary Severance Scheme). The employee or
his/her family may retain Banks car (if provided) on book value or 10% of the
original purchase price whichever is higher (only in case of death or retirement)
provided the employee has spent at least four years service with the bank.
Income Tax Liability
13.
Employees are personally responsible for preparation and submission of their personal
income tax and any other personal taxation returns and reports, and for the payment of taxes, and
of other statutory dues. The Bank undertakes no responsibility or liability in this respect, except
for deduction of taxes at source, depositing the same with the concerned authorities, submitting
required statements to the income tax department, and providing a salary and tax certificate for
the tax year to the concerned employees.