📍 When to use this template
- Typically prepared and submitted along with each Running Account (RA) Bill.
- Triggered when the contract includes a Price Variation Clause (PVC) and the project duration crosses the base date.
- Filled by the Contractor's billing engineer and verified by the PMC/Client's Quantity Surveyor (QS).
Sections & fields
Preview of the template structure. Download Excel to fill on site.
1Header / Project Information9 fields
Project Name
_____________
Contract / Package No.
_____________
Document Reference No.
_____________
Date of Calculation
_____________
Period of Calculation (From/To)
_____________
Prepared By (Contractor)
_____________
Verified By (PMC)
_____________
Approved By (Client)
_____________
2Contractual Basis & Base Indices9 fields
Relevant Contract Clause No. for PVC
_____________
Base Date for Indices
_____________
Source of Indices (e.g., RBI Bulletin, Labour Bureau)
_____________
Fixed Component Percentage (%)
_____________
Weightage for Labour (W_L)
_____________
Weightage for Cement (W_C)
_____________
Weightage for Steel (W_S)
_____________
Weightage for POL/Fuel (W_F)
_____________
Weightage for Other Materials (W_O)
_____________
3Value of Work Done4 fields
Gross Value of Work Done in this RA Bill (As per MB)
_____________
Value of Secured Advance (if any, to be excluded)
_____________
Value of Non-escalable Items (e.g., Preliminaries, specified items)
_____________
Net Value of Work Done for Escalation Calculation (V)
_____________
4Labour Escalation Calculation5 fields
Labour Component Weightage (W_L)
_____________
Base Labour Index (L₀)
_____________
Current Labour Index (L₁)
_____________
Escalation Formula Used (e.g., V * W_L * (L₁ - L₀) / L₀)
_____________
Calculated Labour Escalation / De-escalation Amount
_____________
5Cement Escalation Calculation5 fields
Cement Component Weightage (W_C)
_____________
Base Cement Index (C₀)
_____________
Current Cement Index (C₁)
_____________
Escalation Formula Used (e.g., V * W_C * (C₁ - C₀) / C₀)
_____________
Calculated Cement Escalation / De-escalation Amount
_____________
6Steel Escalation Calculation5 fields
Steel Component Weightage (W_S)
_____________
Base Steel Index (S₀)
_____________
Current Steel Index (S₁)
_____________
Escalation Formula Used (e.g., V * W_S * (S₁ - S₀) / S₀)
_____________
Calculated Steel Escalation / De-escalation Amount
_____________
7POL (Fuel) Escalation Calculation5 fields
POL Component Weightage (W_F)
_____________
Base POL Index (F₀)
_____________
Current POL Index (F₁)
_____________
Escalation Formula Used (e.g., V * W_F * (F₁ - F₀) / F₀)
_____________
Calculated POL Escalation / De-escalation Amount
_____________
8Summary & Attachments8 fields
Total Labour Escalation
_____________
Total Cement Escalation
_____________
Total Steel Escalation
_____________
Total POL Escalation
_____________
Gross Total Escalation for the Period
_____________
Net Payable Escalation Amount (to be carried to RA Bill)
_____________
Attached RBI Bulletin / Index Publication Reference
_____________
Remarks / Notes
_____________
💡 Sample filled excerpt
Section: Steel Escalation Calculation | Steel Weightage (W_S): 15% | Base Steel Index (S₀): 112.5 (Jan-2022) | Current Steel Index (S₁): 121.0 (Mar-2023) | Net Value of Work (V): ₹25,00,000 | Calculated Escalation: ₹25,00,000 * 0.15 * (121.0 - 112.5) / 112.5 = ₹28,333.33
⚖ Compliance notes
- Fulfills the Price Variation Clause (PVC) as per the specific contract agreement, often based on CPWD or FIDIC models.
- Calculation methodology must align with CPWD General Conditions of Contract (GCC) Clause 10C/10CC or FIDIC Sub-Clause 13.7/13.8.
- Essential for statutory and internal audits to verify correct payment against price fluctuations.
- Mandatory submission with each RA Bill if the contract allows for price escalation.