IBPS PO Salary After 11th Bipartite Settlement: Here we have updated the details of IBPS PO Salary After 11th Bipartite Settlement!!! Aspirants who are having a passion to get into the public sector bank as Probationary Officer have to see this article and know the complete details of the current IBPS PO Salary.
Usually, IBPS has released and conducted the recruitment drive for various public sector banks to recruit candidates for the post of Probationary officers. The job openings for public sector banks in India are very high due to a large number of vacancies arising every year. The demand for bank jobs is high because of getting a handful of salaries, attractive perks & benefits, recognition among their society, job security. Due to that a huge number of aspirants after finishing their graduation have turned their career into the banking sector. Most candidates are very curious to know the IBPS PO Salary and its benefits.
Generally, the government follows the regulation of pay commission for their employees to hike the basic pay, benefits, etc. But in the banking sector, they follow the bipartite settlement. Currently, the 11th Bipartite settlement has been implemented. So candidates are very eager to know the IBPS PO Salary After 11th Bipartite Settlement. For that here in this article, we have updated the complete details of the IBPS PO Salary After 11th Bipartite Settlement along with the benefits and perks. Kindly have a look at this.
Provisionally allotted candidates for the post of IBPS PO will be placed in the position of Junior Management Grade Scale 1 or JMGS-I. The JMGS 1 term is generally used to refer to the officers who have just entered the Officer Cadre after promotion from the Clerical Cadre.
The IBPS PO Salary After 11th Bipartite Settlement, the basic pay of IBPS PO is Rs 36,000/- Additionally, other allowances such as Dearness Allowance(DA), House Rent Allowance(HRA), City Compensatory Allowance (CCA), and Special Allowances are also there. Check the complete details of IBPS PO Salary After the 11th Bipartite Settlement from here.
| Type of Pay | Amount |
| Basic Pay | Rs 36,000/- ( Increment in 4 stages) |
| Special Allowances | Rs. 5,904 (7.75% of the basic pay) |
| Dearness Allowances | Rs. 8,593.20 (23.87% of the Basic Pay (Varies based on inflation rates) |
| City Compensatory Allowances | Rs. 1,400 (3% or 4%(depending on the place of posting) |
| House Rent Allowance | Rs. 3,240 (7%-9% of the basic pay) |
| Gross with HRA | Rs 38, 703.38 |
| Medical Aid | Rs 8000 |
| Entertainment | Rs 500 |
| Newspaper | Rs 300 |
| Petrol | Rs 3000 |
| Telephone | Rs 400 |
| Canteen Subsidy | Rs 400 |
| Pension Contribution | Rs 25000 |
| Deduction | Rs. 4,659.32 |
| Gross Annual CTC(with HRA but without leased accommodation) | Rs. 57,289.70 |
Candidates will get the salary along with some additional perks and benefits. Here we have updated the IBPS PO Perks and Allowances for IBPS PO.
| House Rent Allowance (HRA) | House Rent allowance varies according to the place of posting and usually is in the range of 9.0% or 8.0% or 7.0% of the basic salary depending upon the type of city (i.e., metros, big cities, or other locations). |
| Dearness Allowance (DA) | Dearness Allowance (DA) is given to the employees as a percentage of the basic salary. This dearness allowance is revised every three months based on the All India Consumer Price Index(CPI) |
| Leased Accommodation | This benefit is dependent upon the place of posting and is available to the bank officers. Some banks provide official bank accommodation/bank quarters instead of leased housing |
| Special Allowance (SA) | This allowance is recently added to the wage and it is about 7.75% of the basic pay. It came into effect from 01.01.2016 |
| Travelling Allowance | Most banks provide a fixed Traveling Allowance and reimbursement of petrol bills. |
| City Compensatory allowance | It varies from city to city and based on the type of city, it might be 0%, 3%, or 4% |
| Medical Aid | The revised price is Rs 8000/- p.a |
| Newspaper Reimbursement | A fixed monthly amount for newspaper service |
| Coverage under New Pension Scheme |
This post was last modified on October 21, 2021 1:50 pm