IBPS Result & Government Jobs 2016

IBPS Bank PO, SO, Clerk

IBPS PO Salary Structure 2016-2017

What is PO Salary ( पीओ का वेतन क्या है?)  It is most popular questions between the candidates who prepare for the IBPS exams. Good news for all of you that department is going to enhance IBPS probationary officer salary scale from this year.

Check all the details regarding the starting salary, allowances, grade pay, facilities, salary after probation period, and salary after 10th bipartite wage revision and 7th pay commission.

IBPS PO Salary Structure in detail

आईबीपीएस पीओ सैलरी का ढाचा – IBPS PO is a starting level post of any officer in a bank. So you will have retained for 2 years of probation period i.e. called a training period. In the 2 year time, you learn about basic and essential duties of a PO in the bank.

Allowances

PO has received many allowances are as follows:-
  1. Dearness Allowance(DA)
  2. Special Allowance(SA)
  3. House Rent Allowance(HRA)
  4. City Compensatory Allowance(CCA)

Dearness Allowance(DA)

This allowance is revised quarterly and based on the Consumer Price Index(CPI) data exposed by Government of India. The last Revised DA for the quarter of November and December, 2015 and January, 2016 is 39.80% of the Basic Pay.

Special Allowance(SA)

In the latest revision, a special allowance has been added to the salary structure of Bank PO. And it is 7.75% of the Basic Pay.

House Rent Allowance(HRA)

This is differ bank to bank. According to Bank PO’s place of posting and can be 9.0% or 8.0% or 7.0% depending upon metros, big cities and other locations.

Other Benefits for Bank PO

Leased Accommodation : 

This facility on the behalf of HRA. At some places, banks provide bank quarter on rent. This amount is not available as cash component and will directly go to the house owner.

Traveling Allowance:

Few banks provide fixed Traveling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own scooter / car at the place of posting.

Newspaper Reimbursement:

A fixed monthly amount is paid towards the cost of one newspaper.

Medical Aid:

A fixed annual amount is paid by most of the banks (Revised amount is Rs.8000/- p.a.)  

After 10th Bipartite Settlement -Salary of PO

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/-

7th Pay Commission - Effect on salary

सातवें वेतन आयोग का सैलरी पर असर – Candidates assuming that salary will be increased after 7th pay commission but there is different method to calculate the rise in salary and not follow the pay commissions. Indian Banks’ Association (IBA) Chairman Shri T M Bhasin declared that there is no effect on the IBPS PO Salary after 7th pay commission. Nearby 9 lakhs bank employees of public sector banks in India already were waiting for 10th bank bipartite wage settlement.
Also Read:  IBPS PO Eligibility Criteria 2016 For General/OBC/SC/ST/PWD

Career progression for PO in Bank with Salary

Career progression for Probationary Officers in Banking Sector with Salary
Junior Management Grade – Scale I: Officer i.e. PO23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020
Middle Management Grade – Scale II: Manager31705 -1145 -32850 -1310 -45950
Middle Management Grade – Scale III: Senior Manager42020 -1310 -48570 -1460 -51490
Senior Management Grade – Scale IV: Chief Manager50030 -1460 -55870 -1650 -59170
Senior Management Grade Scale V: Assistant General Manager59170 -1650 -62470 -1800 -66070
Top Management Grade Scale VI: Deputy General Manager68680 -1960 -76520
Top Management Grade Scale VII: General Manager76520 -2120 -85000
Executive Director (ED)Approx 1.5 + lac
 Chairperson and Managing Director (CMD)Approx 2 + lac
Updated: August 26, 2016 — 4:29 pm

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