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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 9th 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/-


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