IBPS PO  Salary, Latest Allowances after Wages Revision, Bank PO Salary in Hand

IBPS PO  Salary, Latest Allowances after Wages Revision, Bank PO Salary in Hand

In most of the public sector banks, IBPS PO salary is more or less constant. According to which the revised IBPS PO pay can acquire impact from first Jan 2016. The revised basic IBPS PO Salary structure thus becomes:
23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020

Here, Rs.23, 700 is the revised basic pay of Bank PO as applicable on first Jan 2016. Therefore the new entrant in a Bank as PO is liable to get Rs.23,700 as basic pay. Rs.980 is the annual increment that an IBPS PO can get and it’ll be applicable for a period of seven years.

Here we are going to talk about the additional on IBPS bank wages in hand facilities, What is IBPS PO Salary? allowances, grade pay, wages given after probation period, wages after tenth bipartite salary revision and IBPS Clerk salary after seventh pay commission, etc.

IBPS PO Salary Structure List:

Basic Pay23700.00
Special Allowance1836.75
DA10163.63
CCA870
Transport Allowance
Total (without HRA)36570.38
HRA2133.00
Gross with HRA38703.38
Medical Aid8000
Entertainment500
Newspaper300
Petrol3000
Telephone400
Canteen Subsidy400
Pension Contribution2500
Gross Annual CTC (with HRA but without leased accommodation)5,57,640.52

Salary of IBPS PO and Allowance:

Dearness Allowance (DA): In Banks, DA is revised quarterly and is based on the CPI information as disclosed by Government of India. The last Revised DA for the quarter of Nov and Dec 2015 and Jan 2016 is 39.80% of the Basic Pay. Since it depends on CPI, DA will go up with higher Inflation and vice versa.

2. Special Allowance: In step with IBPS PO’s Latest Revision, a special allowance has been added to the wage structure of Bank provisional Officer. And it’s 7.75% of the basic Pay.

3. House Rent Allowance: This varies according to Bank provisional Officer’s place of posting and may be 9.0% or 8.0% or 7.0% relying upon metros, huge cities and different locations.

4. City Compensatory Allowance: This additionally depends on the place of posting and may be either four or three yule or 0.33. Hence the overall wage (without HRA) of provisional Officer becomes Rs. 35,700 – 36,570. Whereas considering the HRA into account, it becomes Rs. 37,360 -38,700.

5. Leased Accommodation – This service is offered to Bank officers rather than HRA. It additionally varies from bank to bank and depends on upon the place of posting. Some banks might provide official bank accommodation/ bank quarters rather than leased housing.

6. Travelling Allowance – Most of the banks provides a fixed Traveling Allowance and reimbursement of petrol bills.

7. Medical Aid – An amount additionally attached to your medical desires (Revised price is Rs8000/- p.a.).

ALSO READ: IBPS CLERK SALARY

IBPS PO Salary after 7th Pay Commission:

Most of the candidates assuming that bank staff wage will increase after seventh pay commission however all banks have their totally different technique to calculate the increase in wage they don’t follow pay commissions.

Indian Banks’ Association (IBA) Chairman Shri T M Bhasin proclaimed that there’s not any impact are going to be count on IBPS PO wage after seventh pay commission. Approx nine lac bank workers of public sector bank in India already watching for tenth bank bipartite wage settlement. And Government of India is additionally not planning for include bank workers under seventh pay commission. Wait for more notification.

IBPS PO Wages after 11th Bipartite Settlement:

After the wage revision, eleventh Bipartite have settled for an increase of 15 August 1945 within the IBPS PO wage. Expected hike in wages after permission of Indian Bank’s Association (IBA) check it.

IBPS PO Salary after 11th Bipartite Settlement:

Increment (Percentage) %Basic PayGross Salary
15 %Rs.26,706/-Rs.37,068/-
20 %Rs.27,866/-Rs.38678/-
25 %Rs.29,026/-Rs.40,288/-
30 %Rs.30,187/-Rs.41,899/-

IBPS PO Perks:

1. Leased Accommodation: this facility is obtainable to PO in place of HRA. This amount isn’t accessible as cash part and can directly visit the house owner – you have got leased.
2. Traveling Allowance: Few banks provide fixed Traveling Allowance whereas others enable reimbursement of petrol bills i.e. Bank officer should own scooter/car at the place of posting.
3. Newspaper Reimbursement: A fixed monthly quantity is paid towards the value of 1 newspaper to the Probationary Officer.
4. Medical Aid: A fixed annual amount is paid by most of the banks (Revised amount is Rs8000/- p.a.).
5. Advantages beneath New Pension Scheme.

IBPS PO Salary after 2 Years/ IBPS PO Promotions:

There is a well-defined career progression path in every public sector bank. Most senior officers publically sector banks started their career as a scale-I officer solely.
In several banks, an individual who joined as an IBPS PO might reach to the position of head in fourteen years. Transferability in a bank job provides you the chance of seeing totally different parts of the country. Hence, IBPS PO Promotion is incredibly lucrative.

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