IBPS PO Salary Structure 2018: The article has all the latest information on the salary structure of the profile PO. Therefore we advise the candidates to analyse the article to collect the information about the topic. This article will also help the candidates to understand various terms related to the salary of the profile.
IBPS PO Salary Structure 2018
The salary payable to the PO’s differs in reference to the place of posting. The basic salary remains same in all regions. But the other allowances which are payable by the bank differ in many aspects. The details of such differences & the salary are present in this article. So we advise the candidates to analyse this article to get more information related to the salary structure.
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IBPS PO Salary Structure 2018 Various Related Terms
DA (Dearness Allowance)
The allowance which is also known as the dearness allowance is payable by the bank to the PO’s is a fixed amount. As the term states it is a dearness allowance, Therefore this allowance is payable by the banks to the PO’s for the personal expenditures.
HRA (House Rent Allowance)
Many banks provide the HRA allowance to its employees. But many of the banks provide the place of residence in spite of any allowance amount.
CCA (City Compensatory Allowance)
This allowance is provided to the employee by the bank. This is provided to help the employee working in big Metro cities to help them in living in high standard society. This allowance is also based on the position of the employee.
These allowances include the allowances such as for the leased accommodation. Many banks don’t provide this allowance.
Other Allowance (TA, Medical)
These allowances are also in addition to the basic salary of the officer. These allowances include the allowances such as the Travel charges, medical charges, other prerequisite charges.
IBPS PO Salary 2018 Salary Structure
|Grade I||23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020|
|Grade II||31705 -1145 -32850 -1310 -45950|
|Grade III||42020 -1310 -48570 -1460 -51490|
|Grade IV||50030 -1460 -55870 -1650 -59170|
|Grade V||59170 -1650 -62470 -1800 -66070|
|Grade VI||68680 -1960 -76520|
|Grade VII||76520 -2120 -85000|
Salary structure according to the last revision of 10th Bipartite Settlement. In other words, the salary depends on the grade of the officer on which the employee is hired by the bank.
IBPS PO Salary 2018 Detailed Structure
|Total salary (exclusive of HRA)||36570.38|
|Total salary (inclusive of HRA)||38703.38|
|Medical Aid allowances||8000|
|Petrol bill payments||3000|
|Telephone bill payments||400|
|Canteen Subsidy amount||400|
|Pension Contribution amount||2500|
|Annual total salary (leased Accommodation allowance is not included)||5,57,640.52|
This salary structure is as per the latest structure of the authority. All the terms in salary structure are subject to matter. The gross salary may differ at different locations of posting.
IBPS PO Salary Structure 2018 After Pay Revision
The banks don’t follow the pay commission. Therefore the pay commision will not affect the salary revisions of the banks. The banks have their own salary revision rules. Therefore the banks will follow those rules to increase the salary of the candidates.
IBPS PO Salary Structure 2018 Increments
The candidates will get the fixed salary after the joining on the available post. They will get the salary as per the allotment letter was given to the candidates at the time of the selection for the post. The bank will increase the salary of the candidates on the basis of their own settlements. The settlements of the banks for the increment in the salary is known as the Bipartite settlements. According to this settlement, the private sector banks will provide the increment in the salary of the candidates. The candidates will get the official letter if they will get the increment in the salary.