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 Salaries of Employees which are intended to implement very soon.
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.
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 10th Bipartite Settlement
- Bank of Baroda (Vijaya Bank & Dena Bank)
- 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 (Andra 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 10th Bipartite Settlement
- The Catholic Syrian Bank Ltd
- The Dhanalakshmi bank Ltd
- The Federal bank Ltd
- Kotak Mahinda Bank
- Jammu Kashmir Bank
- Karnataka Bank Ltd
- Lakshmi Vilas Bank Ltd
- Nainital Bank Ltd
- Ratnakar Bank Ltd
- South Indian Bank Ltd
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 Earnings
- Dearness Allowance: It 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.
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
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.