The very much important
answer to know for any bank job aspirants in India is the “ How much does a
bank PO- Probationary Officer earn when he joins the bank. Well your answer is
right here.
First one should know the
structure of salary followed to pay bank PO. Which is s for scale Rs. 14500 -
(600x7) 18700 - (700x2) - 20100 (800x7) - 25700 ( Under Revision from November 2012 )
Please keep in mind that the
above salary structure is under revision which is due from November 2012 and
when the final settlement called in Public sector parlance as 10th
Bipartite Wage Settlement .
Now we have to extract the
Scale of payment as 14500 - (600x7) 18700 - (700x2) - 20100
(800x7) - 25700
Here 14,500 is the basic
Salary Upon which DA ( Dearness Allowance is given which is currently for May,
June, July 2014 is 97.5%.
So now salary is 14,500 +
14, 137.5 = 28,637.5/-
Plus CCA in Metor Cities is
540/- = 29,177.5/- ( Please note that
this CCA is City Conveyance
Allowance varies from city to
city and can become Zero also in Rural Branches )
Now 600 x 7 Mean Your salary
will keep on increasing by 600 Plus DA that is your basic salary will become
15,100 after one year , say if you Joined in August 14, then in August 15 your
basic will be 15,100. And keeps on increasing till 7 increaments.
Afterwards when your basic
becomes 18,700 then it starts to increase by 700 for next two years i.e.
18700-19400-20,100
Now your basic becomes 20100
and onwards every year increases by 800 for 7 Years.
Please note that this if you
are continuing in scale I if you take promotion to Manager Scale II then you
basic and pay structure changes.
So your gross salary if you
join bank PO today shall be in Metro City 29,177.50.
Now coming back to
deductions. As from April 2010 onwards those who have joined the bank fall
under NPS – New Pension Scheme- National Pension Scheme, where in employee
contribute 10% of basic + DA to the NPS account as well as equal amount is
contributed by employer bank.
Please note that no PF is
given under NPS and all the amount contributed in put in fund as opted by
employer or employee.
HRA is another component
which is added to the salary of bank employee which varies from 8.5-12.5 %
depending upon the city and type of accommodation in which staff resides ( as
house is on loan or not )
Here, if employee is
residing in his own house he will get the HRA here we take it as 10% which is
equal to 1450 of basic.
Above we have not calculated
it in the Gross salary as if Bank accommodation is provide then HRA is not give
also if bank pays rent for your accommodation then also HRA is not given , the
lumpsum rent is given according to the bank and city rules which varies from
bank to bank and city to city as metro or tier II city or rural. Which may
range from INR 4,500 to INR 32,000.
So Now In hand salary of a
bank PO shall come to 29177.5 – 2863.75 = INR 25, 773.75
Here we have considered that
a PO is residing in bank quarter or given rent to reside. As most of them are
given away posting form home.
If you are in some affliated
association or union then there may be some deduction also in range of 50-300
Pm.
So in all our in hand salary
for Newly recruited bank PO is around 25,500 Plus Home rent Plus Allowance like
News paper , Petrol, entertainment allowance ( These vary from bank to bank and
vary in the range of 500 to 7500 ).
So if we consider gross
salary including all in terms of CTS it comes around 50,000 or 6 Lac PA and SBI
it comes higher if you consider all the maximum allowance which is appx 8 Lac .
But the realistic view is
that it is around 6 Lac Per annum.
Hope we have solved your
many queries relating to the salary of a Bank PO in Public Sector bank if you
have more query then do comment or reply to this post.
I want to prepare for sbi bank po recruitment exam book from online and please give some guidelines
ReplyDeleteIs it possible to prepare for ssc entrance mains exam in 1 year?
Deletessc cgl online mock test
I appreciate your Great post and Thanks for sharing this awesome information.
Deletenift entrance exam books
can u suggest me which book is best for the preparation of sbi bank po recruitment exam book
ReplyDelete