SBI PO:There are several
perks associated with working with the biggest bank of India. One of the most
attractive feature is the best in class entry level compensation package that offer to the probationary officers. SBI offer the highest entry level
compensation in the banking industry.The total
compensation per annum for a Probationary Officer would be a minimum of Rs.
7.55 lacs and maximum of Rs. 12.93 lacs depending on place of posting and other
factors. This includes leased rental accommodation, conveyance allowance etc.
HOUSING:
The compensation
includes housing rent allowance or leased rental accommodation where the
employees get housing rent as a part of their package. This becomes more
prominent as the employee move up the career ladder. Bank also provides
accommodation at certain places for the Clerical Staff.
MEDICAL BENEFITS:
Health and
well-being of SBI employees and their families is important to us and we take
care of your medical expenses. Medical benefits (100% for the employee and 75%
for dependent family) form a key component of the overall package. The Bank
also provides group insurance over and above the compensation package.
LEAVE POLICY:
You are provided
with attractive leave policies, which includes 33 days of privilege leave and
12 days of casual leave annually along with sick leave and maternity leave.
Women and single men with children or aged parents have the provision to take
sabbatical leave of up to 2 years.
TRAVEL:
The employees get
leave travel concession to visit places within India. Holiday homes and Bank's
guest houses are available for the employees at major cities and tourist
destinations.
OTHER BENEFITS:
As employees, the
Bank provides Housing Loan, Car Loan & Personal Loans on concessionary rate
of interest. Also, the bank recognizes and promotes merit by providing
scholarships to the meritorious children of all employees. Pension by the bank
helps the employee lead a comfortable life post retirement.
IBPS PO:
The Basic IBPS PO Salary is: 23700-(980×7)-30560-(1145×2)-32850-(1310×7)-42020
This means upon joining, the Probationary Officers will get a Basic Salary of Rs 23700. In addition to that there will be other allowances. The POs will also get an annual increment of Rs 980 for 7 years.
That is:
Basic Pay after 7 years – Rs 30560
Basic Pay after 2 more years – Rs 32850
Basic Pay after 7 more years – Rs 42020
Basic Pay after 2 more years – Rs 32850
Basic Pay after 7 more years – Rs 42020
Let us now look into the other allowances included in the IBPS PO Salary that are calculated on the Basic Pay:
IBPS PO Salary: Allowances
| |
| Dearness Allowance (DA) | Revised quarterly based on the CPI, the DA forms around 40 percent of the Basic Pay. It is to be noted that since DA depends upon CPI, it can increase or decrease based on the inflation rates. |
| House Rent Allowance (HRA) | This depends upon the location of posting of the Probationary Officers. Based on whether they are posted in metropolitan cities, big cities or other locations, the HRA can be 9 percent, 8 percent or 7 percent of the Basic Pay. |
| Special Allowance | The Special Allowance is 7.75 percent of the Basic Pay. |
| City Compensatory Allowance (CCA) | The CCA too, like the HRA, depends upon the location of posting. It can be 4 percent, 3 percent or 0 percent based on the job location. |
Other Benefits And Perks:
In addition to the IBPS PO Salary, there are other advantages and benefits of this job:
- Leased Accommodation: In some locations, the bank provides accommodation/quarters to the POs. In such cases, the HRA is not provided. The amount goes directly to the owner of the accommodation.
- Travelling Allowance: The bank also provides Travelling Allowances to the POs. Otherwise, the expenses on petrol is reimbursed.
- Medical Aid
- Newspaper Reimbursement
- New Pension Scheme
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