BANK PO SALARY

Hello everyone, today we here to discuss about the salary of bank PO. So in today’s topic we are going to cover and see what measures were taken while calculating, What is the actual Salary of Bank PO, What kinds of benefits are given to them in every section of different banks, Growth and promotion phase and many more like this. So let’s get started with the topic of PO. The term Po stands for Probationary Officer   . The latest revised salary of Po has taken place on 1 November 2012 and it is finally signed with all of necessary on 25 May 2015. The salary of PO revised version is as follow:-

Scale I- 23,700- (980*7)- 30,560- (1,145*2)- 32,850- (1,310*7)-  42,020. So the finial/ initial basic pay is Rs. 23,700/-.

BENEFITS AND ALLOWANCE TO THE BANK PO
BENEFITS AMOUNT AND INFORMATION
Leased Accommodation The facility of officers in lieu of HRA. This is also given according to the place of posting of the employee. The amount given in this is not in the form of hard cash, it directly go to the owner’s house.
Travelling Allowance The allowance provide toward travelling is fixed in nature. While saying about bill of petrol, car, scooter is at the place of posting.
Newspaper Reimbursement The amount is fixed
Medical Aid Rs. 8,000/-
SALARY OF BANK PO
SALARY AMOUNT AND RATE
Dearness Allowance It is provided at the rate of 47.80% of basic pay. It is also revised on quarterly basis that is based on the CPI (declared by Government)
CCA It can be either 4% or 3% that is Rs.870/- or Rs.600/-
Special Allowance The rate of amount is 7.75% on DA
HRA The rate of amount can be 9%, 8% or 7% depends on the place of posting
INITIAL/ STARTING/ NEWLY BASIC PAY (REVISED ON 1 NOVEMBER 2016)
Major A Class Cities Area – I Other Areas
Basic Pay 23,700 23,700 23,700
Special Allowance 1836.75 1836.75 1836.75
DA 12,206.69 12,206.69 12,206.69
CCA 870 600
Transport Allowance 0 0 0
Total (without HRA) 38,613.54 38,343.54 37,743.54
HRA 2133 1896 1659
Gross with HRA 40,746.54 40,239.54 39,402.54
PAY SCALE ACCORDING TO PROMOTION

The list of scale pay is listed below according to the level of class. The Scale pay-7 has the highest pay among all of the scale pay’s. The amount pay to the employee is revised according to the time or we can say after reaching a certain level of pay.

SACLE PAY AMOUNT
Scale- 1 Rs.23,700- Rs.980- Rs.30,560- Rs.1,145- Rs.32,850- Rs.1,310- Rs.42,020
Scale- 2 Rs.31,705- Rs.1,145- Rs.32,850- Rs.1,310- Rs.45,950
Scale- 3 Rs.42,020- Rs.1,310- Rs.48570- Rs.1,460- Rs.51,490
Scale- 4 Rs.50,030- Rs.1,460- Rs.55,870- Rs.1,650- Rs.59,170
Scale- 5 Rs.59,170- Rs.1,650- Rs.62,470- Rs.1,800- Rs.66,070
Scale- 6 Rs.68,680- Rs.1,960- Rs.76,520
Scale- 7 Rs.76,520- Rs.2120- Rs.85,000
COST TO COMPANY (CTC) FOR BANK PROBATIONARY OFFICERS

Beside the Basic Pay of Salary, DA and Special Allowances are already mentioned and cleared for Bank PO’s. Still there are other type of allowances that include HRA, Medical Allowance, Newspaper charge, Petrol charge, Canteen Subsidy as well as Entertainment Allowances are also given from Rank of  Probationary Officers which vary bank to bank as well as place of posting. Thus, CTC is vary from bank to bank and place of posting.

CTC Monthly Yearly
Basic Pay 23,700 284,400
Special Allowance 1,837 22,041
DA 12,206 146,472
CCA 870 10,440
Transport Allowance
Total (without HRA) 38,613 463,356
HRA 2,133 25,596
Gross with HRA 40,747 488,959
Medical Aid 8,000
Entertainment 500 6,000
Newspaper 300 3,600
Petrol 3,000 36,000
Telephone 400 4,800
Canteen Subsidy 400 4,800
Pension Contribution 2,500 30,000
Gross Annual CTC (with HRA but without leased accommodation) 582,159
LIST OF BANK PO’S SALARY FROM DIFFERENT BANKS
BANK NAME AMOUNT
 Indian Bank PO Salary  Rs 38,000 in-hands per month
ICICI Bank PO salary Rs. 34,561/- per month
Axis Bank PO salary  Rs.15,000 – Rs,21,277.
 Lakshmi Vilas Bank PO Salary  Range from Rs.23,700 to Rs.42,020
PNB PO Salary Rs. 26,097 per month
RBI PO Salary The annual salary of 12-14 Lac