October 21, 2013

Salary of Bank PO and Clerk | Salary of Bank Clerk in India 2013

Salary of Bank PO and Clerk | Salary of Bank Clerk in India 2013 : 1. Bank Probationary Officer (PO) in the PSU banks get approx. Rs. 25,000/- as a basic salary.  All banks employees combination association and banks management body Indian Bank Association (IBA) decides the pay-package of all the employees in a bank. On the basis of 9th Bipartite Settlement, signed on the date of 27/04/2010 the current salary was decided.

Salary of Bank PO and Clerk2. Probationary Officers in the Public Sector Banks or the Nationalized Banks get same wages but the facilities offered to each of them are different. Medical, Leased House Rent, Training Expenses and other allowances are offered to the POs of the Public Sector Banks.  

3. Revealing salaries offered by the Nationalized Banks as per current norms:
Salary Components
Salary at joining time
Basic Salary
Dearness Allowance (54%)
City Compensatory Allowance – CCA
(4% max Rs.540=)
House Rent Allowance – HRA
(Major A class cities - 8.5%, Other places in Area I -7.5%, Other places - 6.5%)

4. House Rent Allowance (HRA) is not offered to the officers residing to the accommodation of banks or sponsored accommodation. 15% HRA is provided to the bank offers who are living in the own houses rather than sponsored accommodation.

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

In Major Cities
Leased House Rent
Travelling Allowance
New Paper
Cleaning Materials
Business Development Expenses
Medical Aid

6. Most of the banks provide these facilities. Facilities will be increased by some banks as the above mentioned facilities may varies in some banks, but same is provided by most of banks as the Salary in Mandatory as per settlements. Some of facilities offered by most of the banks are numerous self-medical expenses up to 90% of expenses maximum and furniture of Rs.70,000 on every 10 yrs, and other allowance, etc.

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7. Public Sector banks offers  job guarantee and also life time pension facility. Private banks offers more salary and the employees are not fully satisfied as there is only 25% worker economizing each year. None of the employees get 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

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Salary of Bank PO and Clerk | Salary of Bank Clerk in India 2013
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