Rs 50,000 what a newly joined Public Sector bank PO starting salary would be with nationalized public sector bank from next year onward.
Most of people will not believe the statement, but the outcome of recent 10th Bipartite Settlement For Bank Employees and IBA (Indian Bankers Association) for wage revision Read it here 60.15% Boost in basic salary for Bank Employees, shows that the Starting in Hand Salary for bank Probationary officer’s salary would be approx. Rs 50,000.
Now the Newly PO who joined any of the Nationalized bank the Basic Pay will be Rs 27865/-. Where is Rs 50,000 as Salary (I Am Sure this will be in your mind) , Here is the breakup :Read IBA Wage Settlement : here
According to IBA, there are merging of 401 slabs of dearness allowance (DA) for bank employees i.e. around 60.15% increase in current basic pay (0.15% equivalent to 1 SLAB) , According to this the revised Basic pay of Newly Joined PO would be Rs14500+ Rs (60.15*14500) = Rs 23,221/-
There is expected demand of around 20% increase in Salary of Bank Employees for this Settlement. If we considered the worst scenario and take 20% increase in salary (which is expected 25% where union demand is 30% of revised basic pay) the Salary of Bank PO will be : Rs 23,221+0.20*23221 = Rs 27,865 /-.
Note : Salary of PO consist of BP+Existing DA+HRA+Quarter Lease+Petrol Allowance+Entertainment expenses+Phone bill+Cleaning+Lunch Allowance etc. , Which will also change with new Wage Revision, If I consider other facilities then the Salary of Probationary will be more than Rs 50,000 per month ?
All the other facilities provided to their employees based on the Basic Pay and may vary Bank to bank. Anyway If I consider on Average, Salary would be :
SALARY HEAD | CURRENT AMOUNT PAYABLE | REVISED AMOUNT PAYABLE |
BASIC PAY (BP) | 14500 | Rs 27, 865 (with 20% increase) |
DEARNESS ALLOWANCE (DA) | 12781 (@89.15) | Rs 10,839 (@38.90%) will vary |
HOUSE RENT ALLOWANCE (HRA) | 1087 (IN Metro) | Rs 2,786 |
TOTAL in Hand Salary | Rs 28,368 | Rs 41,490 |
Quarter Lease | Rs 8000 (Average) | Rs 8,000) but increase to Rs 10,000 after settlement |
|
|
|
TOTAL | Rs 36,368/- in Metro | Rs 49,490 in Metro
|
So, Guys what do you say!!!! Now do you have any grudges against your Private Bank peers now !!!!
Welcome your comments and valuable addition.
Sir ab 9.5% on pay slip as per latest info. Now what will be ur calculation for take home salary of a clerk with 8000 basic
Plz reply
Still the number shows the good difference, wait for 27th Jan
After what has happened last week do u still stick to these numbers??
Agreed, still some hope..we must blame himself for this mess…
Can you explain wwhat is quarter lease?
Quarter Lease is the facilities provided to bank officers at the places where bank doesn’t have their own accommodation for their staff…
Sir it means total salray of bank po officer will be Rs 41000 per months in non metro cities. Does it include perks and other benefits?? What would be the CTC after revision?? Can it be around Rs 6 lac??
Bank employees are still not happy. They want minimum Rs 50000 starting salary in non metro cities because a clerk in central govt earns Rs 41000 without doing much work which is totally a imparity between a govt. employees and bank employees.
1. if you are getting quarter lease then you will not get HRA
2. in probation Petrol Allowance+Entertainment expenses+Phone bill+Cleaning+Lunch Allowance etc. are not given
3. what you have mentioned In hand salary is actually Gross salary from which around 3-4 K is deducted for income tax, professional tax, pension fund etc.
Agreed, but in many banks all the perks like petrol allowance etc are paid even in probation time also..HRA is merely 6.5% in other city and 7.50% in Metro..
over all, the way union is taking the settlement with IBA doesn’t look happier…
yes…indeed…