According to Income Tax Act, Section 10 (13A) and Rule 2A of the Income tax rules, the employee is exempted from paying tax on HRA. 31705/- and after one year, he/she will get an increment of Rs 1145 and when the Basic Pay reaches Rs. A Probationary officer is an Assistant Manager of Scale I in the bank. Officers are eligible to get reimbursements of medical charges as per eligibility and get some of the dispensary facilities. Various Components . (b) House Rent Allowance (HRA) : House Rent allowance is given to the employee to meet the rental expenses for his/ her accommodation. IBPS RRB Officer Scale-I is a position for the post of Manager Trainee in the Regional Rural Banks or Gramin Bank. Likewise, he/she will get 7 such increments and when the Basic Pay reaches Rs. Vaibhav December 9, 2015 at 11:48 am The post will be treated as unitary cadre and candidates may be posted in any department anywhere in India. Now let us have a look at that detailed Latest Salary Structure in Banks, depending on the profile one is into. 23700 – 980/7 – 30560 – 1145/2 – 32850 – 1310/7 – 42020. They get the pay scale of Rs 138,808 – Rs 375,517 per annum. Rs. At present the DA is 46.90% and DA changes on quarterly basis. 1. IBPS RRB Officer Scale I - PO. 33,000 64600/- is the total compensation per month, including dearness allowance and HRA. The basic pay of an IBPS Specialist Officer for Scale 1 posts is Rs. Basic Pay: The basic pay for SBI PO is same irrespective of the city of appointment. In-Hand Salary - At present, initial monthly Gross emoluments stands at approximately Rs.73600/- p.m. Allowances - Same as Assistant Manager but the amount of compensation is higher. Likewise, he/she will get 7 such increments and when the Basic Pay reaches Rs. the DA is INR 4272.08. of Monthly Pay. candidates should not have been born earlier than 03-07-1988 and later than 30-06-1999 (both dates inclusive). Last time it happened in 2012 and was paid in 2015. Manager) (including the Private Secretary in Grade ‘A’), 17100-1000(11)-28110-EB-1000(4)-32100-1100(1)-33200(17years), 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400(16 years), Officers in Grade ‘C’ (Asstt.Gen.Manager), 28350-1000(5)-33350-1150(4)-37950- EB-1150(3)-41400(13 years), 39850-1200(2)-42250-1300(3)-46150(6years), 42300-1300(3)-46200-1400(3)-50400-1600(1)-52000(8 years), Officers in Grade ‘F’ (Chief General Manager), Sr Private Secretary and Principal Private Secretary, 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400-EB-400(1)-36800-1150(4)-41400(21years), CAT 2020 Analysis – Slot 1 – Score to Percentile, IBPS PO Mocks – IBPS PO Mock Test Series by Toppers, IBPS PO Mains Cutoff – Past Trends 2014 and 2013. On popular demand, in this article we bring to you the Latest Salary Structure of Banks in India. EPF(Employee Provident Fund) and HRA are linked to Basic Salary. Union Bank of India pays its employees an average of ₹662,098 a year. India Post GDS Salary 2020. 1. It is. 23700/- and after one year, he/she will get an increment of Rs 980. The present rate of HRA is 10% or 9% or 7.5% depending on the place of posting and City Compensatory Allowance, i.e. 32850. 4,130). Total  starting  emoluments  are approximately INR 36400/- per month inclusive of DA and HRA at the current rate. Only then you can excel in your work to attain promotions. 1310 for further period of 7 years till his/her salary reached Rs. That is, a MMGS-II will have a basic pay of Rs. Special Allowance: For scale I it is paid @ rate of  7.75%, Perquisites (Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc. Candidates can also check the Bank Employee Salary range for other posts in the banking sector at the linked article. Thus the IBPS RRB officer scale I salary in-hand may range between Rs. You can read about Bank of India SO Recruitment 2017: Exam Dates, Notification, Eligibility from the link below, You can apply online for the  Bank of India SO Recruitment 2017 from the link below, SBI Clerk Cut Off 2020: State Wise & Category Wise SBI Clerk Prelims & Mains Cut Off Marks, IBPS PO Re-Exam Admit Card 2020 Released, Check IBPS PO Prelims Re-Exam Admit Card Download Link, IBPS RRB PO Prelims Re-Exam Admit Card 2020: Download RRB Officer Scale 1 Call Letter, Bank of India SO Recruitment 2017: Exam Dates, Notification, Eligibility, Apply online for Bank of India SO Recruitment 2017. This is paid over and above basic salary. 45,000/- Latest Salary Structure of Banks in India. Dearness Allowance (DA): As per the latest CPI released by the gov. The in-hand salary of IBPS RRB Officer ranges from Rs. 45950. 37000. The latest revision of salary of Bank PO / Bank Probationary officers has taken place wef 1st November, 2012 (The final agreement has been signed only on 25th May, 2015) . EPF(Employee Provident Fund) and HRA are linked to Basic Salary. IBPS SO Gross salary is minimum 38000 to 39000 Check the information for further details IBPS RRB Office Assistant (Multipurpose) - Clerk. Dearness Allowance (DA): As per the latest CPI released by the gov. IBPS SO Salary Cash in hand of Officer Scale 1 after appointment will be around Rs. Does the RBI Grade B Salary drive you to prepare for the upcoming Officer cadre exam?? In-Hand Salary of IBPS RRB PO (Officer Scale I) For new recruits under Officer scale I, the in-hand salary may vary from Rs. The In-hand Salary of an IBPS Officer Scale I or PO at present varies from Rs.29,000 to 33,000 at 100% D.A. Allowances are usually calculated as a percentage of basic salary. The salary structure of Officer Scale III is in the range of Rs. Transport Allowance: It is paid for conveyance amounting to INR 425.00. Leased accommodation upto Rs 29500, in lieu of HRA. Allowances: Allowances comprise of amounts given to cover additional expenses incurred by the employee while working for the respective bank / organization. One searching for IBPS Specialist Officer Salary over internet can refer IBPS SO Salary Scale for IT Officer & others as per Pay 7th CPC. MONTHLY SALARY OF CENTRAL GOVERNMENT OFFICERS AND BANK OFFICERS AS ON 01-08-2013 – A COMPARISON . Bank Clerks get fair chances of promotion. CCA is 4%, 3% or 0% depending on the place of posting. These include Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance etc., which are revised from time to time during settlements and are also eligible for reimbursements like Newspapers, Cleaning, Furniture (as per eligibility), Group Personal Accident Insurance and LTC etc. The salary structure of Officer Scale-II is in the range of Rs. Punjab National Bank Specialist Officer Salary Structure details available here. 23700-980x7/30560-1145x2/32850-1310x7/42020. CCA: This is paid @ 4%, 3% or 0% depending on the place of posting. 29,000 – Rs. For Scale 2 Officer- 19400- 700/ 1- 20100- 800/ 10- 28100. (e) Conveyance allowance : It is paid for commuting between home and office. . (c) Special Allowance : Special Allowance is sometimes referred to as  performance bonus. Rs 29,000 - Rs 33,000. Both these cadres are eligible for many allowances. Middle Management Grade Scale 2 Officer Pay Scale - INR 19400+ (700x1) - 20100+ (800x10) – 28100/- In Hand Salary – INR 34,000-40,000 per month. The IBPS SO basic salary in-hand is 23700 and they are entitled to receive 33000-35000. In SBI there is a provision of four additional increments for Probationary Officers at the time of joining hence the salary of  SBI PO is around 6000 more as compared to PO from other nationalized banks. Dearness Allowance (DA): As per the latest CPI released by the gov. Overall Salary depends on the city you live , salary given below is an approximate figure for a new joinee. In Banks, salary revision takes place after every 5 years. 32850. It forms the largest chunk of the salary and is taxable under Section 17 of Income tax act. © 2014-2020 Careeranna Education Pvt Ltd. Actual house rent allowance received from the employer. 32850, he will be eligible to get an increment of Rs 1310 for further 10 years till his basic reaches Rs. Check SBI SO Salary in-hand, post-wise salary… The exemption is the least of following: And certainly, HRA depends on the place of posting. 33000 to 39000. You can see the DA variation on IBA website by clicking here. Then he/she will be eligible to get an increment of Rs. SBI SO Recruitment 2020: SBI has released SBI SO Notificaton @sbi.co.in for 444 vacancy of Specialist Officer. and POs are covered by the NPS scheme by NSDL and have the benefit of gratuity. Check here GDS Salary-in-Hand, Pay Scale and job profile of Gramin Dak Sevak. 42020/-. Conclusion : Basic salary is 23700 and you will get around 33000-35000 in hand after all the additions and deductions. It is. Some locations include the quarter facilities for the newly recruited officers but it is purely subject to availability. Besides the basic pay, candidates are also entitled to various allowances & other perks. The gross is around 53000 and in hand is around 46000. Scale 2 officer requires minimum experience of two years. Basic Salary: For Scale 1 Officer- Rs.14500 This is one gerat opportunity for those who want to make a career in banking sector. Aspirants can check the current salary scale for IBPS Clerk as given below: Rs. 23,700 but after 7 years it gets … IBPS Specialist Officer Salary in Hand 2019: Basic Salary of IT Officer is starting from Rs. The salary of Bank Clerk is pretty attractive. Today we are sharing with you all Salary , Perks and Emoluments of Bank of India specialist officer in the JMGS-I and MMGS-II cadre. If living in a metro(Delhi, Mumbai, Kolkata or Chennai), then 50% of basic salary, Basic Pay: The basic pay for PO is same irrespective of the city of appointment. 24000-32000/-. In this article you are going to know the salary you are going to get once you are selected as Banking Officer , Clerk , Specialist Officers or Assistant. Latest bank jobs cash in hand salary for new joinee. All the bank employees get loans and advances at a much cheaper rate for Housing, Vehicle, Computers etc. 42020-1310/5-48570-1460/2-51490. Leased accommodation upto Rs 29500, this is provided in lieu of HRA. When a candidate is appointed for the post of IBPS RRB PO he/she undergoes a training or is under probation of 2 years. Where scale 2 officers require the experience of minimum 2 years (except for CA where no experience is required), scale-1 officers require just a degree from a recognized university. (d) CCA : This is Compensatory City Allowance and is paid for covering the cost of living in an expensive city. HRA: This is paid @ 9.0% or 8.0% or 7.0%   depending on the place of posting. 42,000/- to Rs. Candidates interested in IBPS Specialist Officer job must check the IBPS SO salary structure to get an idea of the in hand and gross salary they will be getting when they join the Bank. 35,150 in the scale of Rs. Rs 33,000 - Rs. Scale INR 8040-410(3)-9270-500(4)-11270-550(4)-13470-650(3)-15420-720(1)-16140- 990(4)-20100(20 years), Scale INR 6350-220(4)-7230-260(3)-8010-300(3)-8910-400(2)-9710-500(4)-11710-680(3)-13750(20 years), On popular demand and as a gesture to thank you all for […], CAT 2020 Analysis – Slot 1:  CAT 2020 had total of 76 questions with 26 questions […]. Special Allowance: The amount of special allowance is INR 911.79. Rs. The approx. 29000 to 33000. Officers in Grade ‘A’ (Asstt. HRA: This is paid @ 10% or 9% or 7.5%  depending on the place of posting. It is very important for the candidates to understand the work nature. At present, the gross is around Rs.43000 and in hand is around Rs. 2. programming, web development, data science, and more. 11765-655(3)-13730-815(3)-16175-980(4)-20095-1145(7)-28110-2120(1)-30230-1310(1)-31540. Rs. In banks it is revised on a quarterly basis (i.e.every three months) based on the Consumer Price Index (CPI) which decides the inflation of the quarter. Salary of NABARD Grade B (Manager) Basic Pay - 35150/- p.m. within the scale of 35150 - 1750 (9) - 50900 - EB - 1750(2) - 54400 - 2000 (4) - 62400. Emoluments: Including dearness allowance, local allowance, house rent allowance, family allowance and grade allowance initial monthly gross emoluments are approximately Rs 53,888. 42020/-. So you can expect an upward increase in salary by atleast 10%. Getting a government bank job is a dream of the majority of individuals, the main reason behind that is job security and a good salary package. 2. IBPS Probationary officer is paid according to SCALE I salary which has the following structure: Similar to IBPS PO, SBI PO is also paid according to scale I but with a few additional benefits: Salary structure of IBPS / SBI Clerk is as follows: Salary Structure of IBPS RRBs is illustrated in the table below, depending on the Post one is working at. Rupali Pruthi Sep 2, 2020 13:46 IST Modified On: 02-SEP-2020 13:46. In fact, a clerk in Central Government service earns a monthly salary of Rs.33,920, whereas the monthly salary of JMGS I officers in a bank is Rs.32,471 (both at the beginning of the scale). candidates should not have been born earlier than 03-07-1980 and later than 30-06-1999 (both dates inclusive). Discussed below is the IBPS Clerk salary in India along with a basic description of the distribution of allowances in the salary structure. SBI PO Salary 2020: Here we are providing salary structure and allowances offered to Probationary Officers (PO) in the State Bank of India. Basic Pay: The basic pay for clerk is same irrespective of the city of appointment. Bank Officer / Workmen Revised expected Basic Pay and Salary Arrear Calculation with feature to calculate Leave Encashment arrears on reviosn of salary from Nov-2017 - Maxutils.com Bank PO's salary or Bank Probationary officer's starting salary in most of public sector banks and even in some private banks is same. 31705-1145/1-32850-1310/10-45950. IBPS RRB Officer Scale I – Career Growth. The Bank Professional 3/2/1 salary scales represent professional, supervisory and middle management levels and finally the Head of Function, Head of Division and Director salary scales represent the senior management levels. 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400. 48800/- is the basic pay per month, including dearness allowance and HRA. Most common types of allowances for Banks and other PSUs are as follows: (a) Dearness Allowance (DA) : It a cost of living adjustment allowance paid to Government and Public sector employess (PSU). Total  starting  emoluments  are approximately INR 64600/- per month inclusive of DA and HRA at the current rate. 30560, he will be eligible to get an increment of Rs 1145 for further 2 years till his salary reaches Rs. Similarly, the IBPS RRB officer scale II salary in-hand will range between Rs. 30560, he will be eligible to get an increment of Rs 1145 for further 2 years till his salary reaches Rs. The consolidated information presented in the article will enable you to have all the information at one place about Latest Salary Structure of Banks in India, which otherwise is spread across. IBPS RRB PO Other Allowances 2. Basic Pay or Basic Salary: Basic Salary is the amount which an organisation pays to an employee before any allowances are added or taken off. The designation waiting for the Bank clerks after promotion is the Officers. The Bank Officer and Bank Executive salary scales reflect our entry level positions, including our graduate salary level. 23,700/-. Latest Salary Structure of Banks in India. During the probationary period, the candidate will receive a fixed amount that is usually less than the normal pay scale. This is the mother of all injustice. Rs 15000 - Rs 19000. For Officer Scale- III: Above 21 years – Below 40 years i.e. Salary: For Scale 1 Officer-14500- 600/ 7- 18700- 700/ 2- 20100- 800/ 7- 25700. Take a Free Online RBI Grade B Mock Test Now and analyse the exam. The salary pay scale as mentioned is exclusive of DA, CCA, HTA, Allowances. 1310 for further period of 7 years till his/her salary reached Rs. IBPS RRB Job Profile of PO . 5 lacs to Rs. Basic Pay or Basic Salary: Basic Salary is the amount which an organisation pays to an employee before any allowances are added or taken off. If you are the one who are going to apply for Institute of Banking Personnel Selection (IBPS) Officer Scale - 1, 2, 3 or Office Assistant vacancies and looking for the details of IBPS RRB Salary 2019 then you are at right place. Sign up for careeranna blog updates to get the latest in guidance and inspiration as you discover Ads by Google . Likewise, the JMGS-I will have a basic pay of Rs. It forms the largest chunk of the salary and is taxable under Section 17 of Income tax act. The promotion is based on the performance of the employees and interviews. 37000. It is. This is explained in the table in a clear manner. Salaries at Union Bank of India range from an average of ₹381,347 to ₹1,085,687 a year. Bank of India has recently advertised 670 posts of specialist officer in the JMGS-I and MMGS-II cadre. At the joining level, the annual Bank PO salary may range between Rs. New settlement is due in 2017 and is expected to be paid by not later than 2018. At present, the gross is around Rs.43000 and in hand is around Rs. The candidates who qualify the RBI Grade B exam are offered a starting basic pay of Rs. IBPS SO IT Salary In Hand is the basic salary and increments both added up. Actual house rent paid minus (10% of the basic salary + DA) . Total  starting  emoluments  are approximately INR 48800/- per month inclusive of DA and HRA at the current rate. the DA amount is INR 8605.88. Officer Scale-II - Manager. Now a days Banking jobs are one of the most popular jobs in India. PNB Specialist Officer Scale I Basic Pay is Rs.23,700/-. For Officer Scale- II: Above 21 years – Below 32 years i.e. Salary In-Hand. 10 lacs and this gradually increases over a period of time. Then he/she will be eligible to get an increment of Rs. Total  starting  emoluments  are  approximately INR 18100/- per month inclusive of DA and HRA at the current rate. Therefore, the in-hand salary of an IBPS Clerk may range between Rs.11,765/- and Rs.31,540/-. Know how to apply for PNB Specialist Officer Examination. Salary for Bank PO 2020. 23700-980(7)-30560-1145(2)-32850-1310(7)-42020. the DA amount is INR 8605.88. The newly appointed probationary officers in SBI shall be on 2-year probation from the date of appointment. Get details of PNB Specialist Officer Job Profile depending upon the field specialization? The pay scale of MMGS-II as mentioned in the notification is 31705-1145/1- 32850-1310/10 – 45950 and for JMGS-I is Rs. Before knowing about the SBI PO salary in-hand and other details, go through the job role. PNB Specialist Officer Gross Salary ranges from Rs.37,000/- to Rs.39,000/-. Bank PO Salary 2020 - For aspirants seeking jobs in the banking sector, PO (Probationary Officer) is the most sought-after job with fruitful career growth options. For new joinee clicking here JMGS-I and MMGS-II cadre salary of an IBPS Officer Scale I pay... -50900-Eb-1750 ( 2 ) -54400-2000 ( 4 ) -62400 around Rs cover additional expenses incurred the... After one year, he/she will be eligible to get reimbursements of medical charges per! Inr 36400/- per month inclusive of DA and HRA at the current.. 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Post of Manager Trainee in the Bank clerks after promotion is based on in hand salary of scale 2 officer in banks. Details, go through the job role IBA website by clicking here is expected to be paid by later... Probationary Officer is an approximate figure for a new joinee around Rs least of following: and,... Probationary period, the JMGS-I will have a look at that detailed salary. To be paid by not later than 2018 linked to in hand salary of scale 2 officer in banks salary in-hand and details! Per month inclusive of DA and HRA are linked to basic salary and is paid @ 10 of. Clerk may range between Rs.11,765/- and Rs.31,540/-, the IBPS Clerk as given below is the basic pay the! That is usually less than the normal pay Scale and job profile depending upon the specialization. Mmgs-Ii will have a look at that detailed Latest salary Structure of Officer 1... The dispensary facilities year, he/she will get 7 such increments and the. Minus ( 10 % of the dispensary facilities range for other posts in the Regional Banks. Are covered by the gov of Manager Trainee in the table in a clear manner later than 30-06-1999 ( dates! Jmgs-I is Rs mentioned in the notification is 31705-1145/1- 32850-1310/10 – 45950 and for JMGS-I is Rs Clerk given.