Bank Salary (Employee Pay Scales) for Workmen & Officer

Here is the salary structure of Bank employee in India as per the Bipartite Settlement, Check bank salary for freshers, and new pay scales for Officer (PO & Manager), Find the new pay matrix in each scales revised for Private and PSB employees as per the new pay revision…

An employee of Bank is said to be in a Prestigious profession, due to their Nature of Job. They are intended to with hold the account so every citizen who has opened their respective account their Bank. 7th Pay Commission of India has got reforms in bank salary of employees which are intended for implementation.

Bank Pay Scale

The salary of bank employee is all same including the benefits but different only from Urban to Rural areas, and the calculation of working days, non- working days, Holiday allowance will all together can be seen in Pay Scale.

Here are some details about Pay Scales of bank employee who is present in different levels, and the salary of an employee is divided into different category based on their workload and locality, and here is a list of parts which can be seen in an Bank employee Pay Scale.

The following are the newly revised wage revision (pay scales) for bank employees effective from 01.11.2017, Let’s check the new basic pay scale chart (tentative) applicable for officers of different scales and workmen in Public Sector Bank and and Private banks as per 11th bipartite settlement.

Bank Workmen Pay Scale

The following mentioned pay scales are allotted or as per the new pay revision, and here is the clerk salary after 11th bipartite settlement and Subordinate staff new scale

Pay Fixation	Pay Scale
Clerical	Clerical for 20 Years
Pay Fixation 1	17900 – 1000(3) – 20900
	20900 – 1230(3) – 24590
	24590 – 1490(4) – 30550
	30550 – 1730(7)
Pay Fixation 2	42660 – 3270(1) – 45930
	45930 – 1990(1) – 47920
Subordinate Staff	Subordinate Staff for 20 Years
Pay Fixation 1	14500 – 500(4) – 16500
	16500 – 615(5) – 19575
	19575 -740(4) – 22535
	22535 – 870(3)
Pay Fixation 2	25145 – 1000(3) – 28145

Bank Officers Wage Revision Chart

Pay Fixation	Salary Scales
Scale1	36000 – 1490(7) – 46430
	46430 – 1740(2) – 49910
	49910 – 1990(7) – 63840
Scale 2	48170 – 1740(1) – 49910
	49910 – 1990(10) – 69810
Scale 3	63840 – 1990(5) – 73790
	73790 – 2220(2) – 78230
Scale 4	76010 – 2220(4) – 84890
	84890 – 2500(2) – 89890
Scale5	89890 – 2500(2) – 94890
	94890 – 2730(2) – 100350
Scale6	104240 – 2970(4) – 116120
Scale7	116120 – 3220(4) – 129000

The above pay scales are mentioned as per 11th Bipartite Settlement

As per the 10th Bipartite Settlement, the following banks are implemented the new pay scales to their employees with effect from 01.11.2012 as per the amendments agreed for Workmen and Officer as stated below for PSB and Private Banks

Govt PSB’s under 11th Bipartite Settlement

• Bank of Baroda (Vijaya Bank & Dena Bank from 01.04.2019)
• Bank of India
• Bank of Maharashtra
• Canara Bank (Syndicate Bank from 01.04.2020)
• Central Bank of India
• Indian Bank (Allahabad Bank from 01.04.2020)
• Indian Overseas Bank
• Punjab & Sind Bank
• Punjab National Bank (Oriental Bank of Commerce & United Bank of India from 01.04.2020)
• UCO Bank
• Union Bank of India (Andhra Bank & Corporation Bank from 01.04.2020)
• State Bank of India (State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore)

Private Banks under 11th Bipartite Settlement

• IDBI Bank
• The Catholic Syrian Bank Ltd
• The Dhanalaxmi bank Ltd
• The Federal bank Ltd
• Kotak Mahinda Bank
• Jammu Kashmir Bank
• Karnataka Bank Ltd
• Karur Vysya Bank Ltd
• Lakshmi Vilas Bank Ltd
• Nainital Bank Ltd
• Ratnakar Bank Ltd
• South Indian Bank Ltd
• Bank of America
• The Bank of Tokyo Mitubhishi UFJ Ltd
• BNP Paribas
• Citibank NA
• The Hongkong & Shanghai Banking Corporation Ltd
• Sonali Bank
• Standard Chartered Bank

A salary slip of bank employee will be hold different sections that include the earning section, Benefits section and deduction section, and based on all these three categories the Total Net Salary will be calculated and deposited into bank employee account as per their pay scales fixed, where the salary deposited will be Tax free and employee need not to worry about any Taxation on the amount credited.

Bank Employee Salary

• Dearness Allowance: Bank employee DA Rate is calculated based on Consumer Price Index which is changed every quarter. Approximately 46% of Basic salary will be minimum DA.
• City Compensatory Allowance: Based on your area of working this Allowance will be decided by bank.
• Leased House Rent Allowance: Based on your locality the HRA will be differed and added to salary
• Travel Allowance: If your eligible for TA, then based on your Grade of work this will be initiated
• Furniture Allowance: SBI PO will be eligible for 1.2 Lakhs of Furniture allowance during initial setup.

Salary Benefits

Here you will find the benefits that will be added to SBI employee pay scale for month by their grade of work. This list of benefits will be surely added to every employee, but amount does vary with experience and time of work.

• Medical Insurance for Employee and Family
• Newspaper allowance
• Books allowance
• Magazines Allowance
• House Maintained Allowance
• Telephone Bill reimbursement

Concessionary Interest rates on Personal Loan, Home Loan, Car Loan and Other Loans

Deduction in Salary

Salary of an employee is credited into once account by deducing all the below said points. This makes the credited salary to be fully interest free and eligible for personal use.

• Tax Deduction: Applied tax on total salary will be deduced and mentioned in Deduction column
• Medical Claim Allowance will be deducted yearly once as plan selected
• EMI for any personal loan, car loan or house loan taken from SBI

Bank Employee Pay Scales in India for Workmen from 01.11.2012

• Clerical Staff

Pay Fixation 1	11765 – 655/3 – 13730 – 815/3 – 16175 – 980/4 – 20095 – 1145/7
Pay Fixation 2	28110 – 2120/1 – 30230 – 1310/1 – 31540 – 20 Years

• Subordinate Staff

Pay Fixation 1	9560 – 325/4 – 10860 – 410/5 – 12910 – 490/4 – 14870 – 570/3
Pay Fixation 2	16580 – 655/3 – 18545 – (20 Years)

Bank Officer Pay Scales in India from 01.11.2012

Scale 1	23700	980/7	30560	1145/2	32850	1310/7	42020
Scale 2	31705	1145/1	32850	1310/10	45950
Scale 3	42020	1310/5	48570	1460/2	51490
Scale 4	50030	1460/4	55870	1650/2	59170
Scale 5	59170	1650/2	62470	1800/2	66070
Scale 6	68680	1960/4	76520
Scale 7	76520	2120/4	85000

The above are the pay scales for Bank employees salary revised with effect from 1st November 2012 and applicable for Public Sector Banks under Central Government of India and some Private Banks who accepted the 10th Bipartite Settlement.