Salary of Bank PO | Salary of Bank Clerk in India Apply Now

Salary of Bank PO | Salary of Bank Clerk in India

Salary of Bank officer

Bank Probationary Officer (PO) in the PSU banks are having the basic salary approx. Rs. 25,000/-. The wages decided to the employees by all the banks management body Indian Bank Association (IBA) and all banks employees’ combinational association. The current salary was decided on the basis of 9^th Bipartite Settlement which was signed on the date of 27/04/2010.

The wages to the all Probationary Officer in the Public Sector Banks or the Nationalized Banks is same only there is the difference of the facilities they get. Some the facilities like Medical, Leased House Rent, Training Expenses and other allowances are provided to the POs of the Public Sector Banks. The Nationalized Banks gives the following revealing salary as present norms:

Salary Components	Salary at joining time
Basic Salary	Rs.14500.00
Dearness Allowance (54%)	Rs.7830.00
City Compensatory Allowance – CCA (4% max Rs.540=)	Rs.0540.00
House Rent Allowance – HRA (Major A class cities - 8.5%, Other places in Area I -7.5%, Other places - 6.5%)	Rs.1232.50
Total	Rs.24,102.50

The officers residing to the accommodation of banks or sponsored accommodation does not get the availability of House Rent Allowance. HRA is about 15% provided to the officers of banks who are not residing in banks accommodations and own their own house.

The Bank PO Perk and Facilities they get as follows per Banks Management listed wages:

Salary	In Major Cities	Others
Leased House Rent	Rs.7200	Rs.2800-Rs.5300
Travelling Allowance	Rs.3000	Rs.2300-Rs.3000
New Paper	Rs.250	Rs.250
Cleaning Materials	Rs.600	Rs.600
Business Development Expenses	Rs.300	Rs.300
Medical Aid	Rs.450	Rs.450
Total	Rs.11,800	Rs.6700-Rs.9900

The above mentioned facilities may varies in some banks, but same is provided by most of banks. Since the Salary in Mandatory as per settlements but facilities can be enriched by some banks. Such as various banks providing the numerous self-medical expenses up to 90% of expenses maximum and furniture of Rs.70,000 on every 10 yrs, and other allowance, etc.

Public Sector banks salary having the job guarantee along with pension facility to life time. Whereas the private banks are paying more to the officers employed, since employees not fully satisfied as there is only 25% worker economizing each year. Till now any one not accomplishing to pension endowment.

The following is shows the Pay Scale of Banks PO

·         JMGS-I - Rs.14, 500/-    TO Rs.31, 500/-@

·         MMGS-II - Rs.19, 400/- TO Rs.34, 200/-@

·         MMGS-III - Rs.25, 700/- TO Rs.35, 100/-@

@including two additional stagnation increments

·         SMGS-IV - Rs.30, 600/- TO Rs.36, 200/-

·         SMGS-V - Rs.36, 200/- TO Rs.40, 400/-

·         TEG-VI - Rs.42, 000/- TO Rs.46, 800/-

·         TEG-VII - Rs.46, 800/- TO Rs.52, 000/-

Dearness Allowance: It is at 0.15% per slab, for each 4 points gain or fall