Saturday, 16 September 2017

Bank PO and officer salary structure,allowances and other benefits

Nationalised Bank PO and officers salary details(IBPS bank PO salary details)

Hey bank aspirants,You may be curious to know the latest salary structure, allowances and other benefits  of Probationary officer in PSU banks.Here we are sharing various perks that a Bank PO is eligible for. Apart from salary, other allowances and benefits are also given below.As you know salary of nationalized bank employees is determined by bipartite settlement between Committee of Indian Banks‟ Association (IBA) representing the managements of banks and representatives of employees  Associations.Last bipartite settlement(10th BPS) came into effective (Retrospective) from 1-11-2012 .Ministry of Finance has set the ball rolling for commencement of 11th BPS and they have issued a notification to all the banks that are part of the process, advising them to complete the whole process well before the due date i.e. 1st November, 2017.
Salary details of IBPS  bank PO is given below is based on 10th BPS.

Nationalized bank Officer latest salary structure and other benefits as per 10th Bipartite settlement

Scale of pay
23700->980(7)->30560->1145(2)->32850->1310(7)->42020

Officers in Scale-I, 1 year after reaching the maximum in their respective of scale, shall be granted further increments including stagnation increment(s) in the next higher scale subject to their
efficiency bar as per guidelines of the Government.
Increment accrues on an annual basis and shall be granted every year on the date mentioned in the Promotion proceedings.

House rent allowance
Major cities
9.00%
Area 1
8.00%
Other Places
7.00%

Dearness Allowance
DA payable is linked to Consumer Price Index
0.10% per slab over 4440 points
DA is revised on 1st Feb, May, Aug & Nov

Conveyance officers owning vehicle


Metro
Area I
Area II
Area III
Four wheeler
Scale III
65 lit
60lit
55lit
50lit
Four wheeler
Scale I and II
45 lit
40 lit
35 lit
35 lit
Two wheeler
Scale I,II and III
45 lit
40 lit
35 lit
35 lit

Conveyance for officers not owning vehicle

Metro
Area I
Area II
Area III
Scale I
Rs.1000
Rs.1000
Rs.800
Rs.800
Scale II
Rs.1100
Rs.1100
Rs.900
Rs.900
Scale III
Rs.1200
Rs.1200
Rs.1000
Rs.1000
*Conveyance allowance conditions changes from bank to bank.Some bank provides full conveyance allowance to Probationary officers owning vehicle,while some gives only minimum.




Rental ceiling for quarters.
(May slightly change from bank to bank )

Scale I
Scale II
Scale III
Delhi, Noida, Ghaziabad , Gurgaon and Mumbai
20000
21000
22000
Bangalore,Chennai,Kokata,Hyderabad,Secunderabad
Amedabad,Chandigarh,Faridabad,Pune
17000
17500
18000
State capitals,Area I placed with population of 10 lacs and above & port Blair
13000
13500
14000
All other places Goa except Panaji
11000
11500
12000
Area II(Population between 1 lac and 10 lac)
10000
10500
11000
Area II(All other area below 1 lac)
6500
7000
7500

Professional Qualification pay
  • If you qualify JIIB you wiil be eligible for one increment 
  • If you qualify CIIB ,then you will get another additional increment 
Medical Aid
  • Rs.8000 per year 
  • Rs.4 lac family insurance 
Business development fund
Scale-others
Branch incharge
POs
I=6000
Rs.7000
Rs.3000
II=7000
Rs.8000

III=8000
Rs.9000

Furniture allowance
  • Upto 1 lac for Scale I(After confirmation) 
  • 1.75 lac for scale II and III 
Festival advance
  • One month gross salary 
Encashment of LFC(Leave Fare Concession)
  • 9000km by A/c 2 tier or Rs.8720 per person(1+3 dependents)

 Lodging allowance


Major
Area I
Others
Scale II&III
2400
1600
1200
Scale I
1600
1200
800

Halting Allowance
Delhi, Mumbai, Kolkata, Chennai
1300
Other major cities
1100
Area I
950
Other places
800

Newspaper allowance
  • Bank officer will get a reimbursement of 90% of bill of a national/local daily

Sample salary slip of a Bank Probationary officer

Here is the salary slip of a Canara bank PO of August 2017. 
bank po salary slip
House rent/Quarters allowance,conveyance allowance,news paper allowance are not included in salary slip.They have to be claimed separately.
Hope you will find this information on bank PO and officer salary details useful.Shre it with other bank po aspirants.
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