IBPS SO Salary 2018: Institute of Banking Personel Selection Committee conducts the exam for the selection of candidates for the specialist officers rank. Many nationalised banks take part in this exam to hire the candidates for the post of the Specialist officers. Specialist officer rank gets a highly decorated pay allowance as compared to other ranks in the bank. Here we will provide the details of the IBPS SO Salary 2018 Pay Structure With Allowance, DA, HRA, Salary Cash in Hand to the candidates who aspire to get enrolled as a specialist officer in the bank through this exam.
IBPS SO Salary 2018
As the heading states that this article is for the elite information of the salary of a specialist officer in the bank. To get familiar with the salary of the rank first thing is to understand all the aspects related to the salary which will be credited by the employer in the employee’s favour. Following are some terms related to the salary of a specialist officer which are considerable in the salary perks dispersed by the employer in the employee’s favour.
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IBPS SO Salary 2018 Related Terms
Dearness Allowance (DA)
The dearness allowance is the term which is described as the allowance provided by the bank to the candidate to pay the domestic expenditure. The DA is payable by the bank even if the candidate lives in the personal accommodation or candidate lives on rent. This allowance is payable by the bank in addition to the Basic salary of the candidate. In other words, this is the allowance provided by the bank to pay the cost of living of the candidate.
House Rent Allowance (HRA)
This allowance is provided by the bank to accommodate the candidate on the behalf of the bank. This allowance is based on the place of residence of the candidate & position of the candidate in the office.
City Compensatory Allowance (CCA)
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 are provided in addition to the basic salary of the candidates. This allowance is applicable only on the salary of the Scale 1 officer in the bank working as a specialist officer.
Other Allowances (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 SO Salary 2018 Basic Salary Structure
|Grade of officer||Basic Pay|
|Grade 1 officer||23700-980(7)-30560-1145(2)-32850-1310(7)-42020|
|Grade 2 officer||31705-1145(1)-32850-1310(10)-45950|
|Grade 3 officer||42020-1310(5)-48570-1460(2)-51490|
The basic salary structure of SO is under the influence of 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 SO Salary 2018 Pay Structure
|Components of salary||Amount payable by the bank|
|Basic salary||The bank pays the common basic pay of INR 23700 irrelevant of the posting place|
|House rent allowance||The bank pays an additional amount of 9 to 7 percent of basic salary on the basis of place of posting|
|Dearness Allowance||An amount of Rs. 8605.88 is payable by the bank to employee as per the government rules|
|Special Allowance||Only for Scale 1 officer i.e 7% of basic pay|
|Other allowances||These allowances include TA, Medical etc & have an amount of INR 4130|
|City Compensatory allowance||The bank pays an additional amount of 4 to 0 percent of basic salary on the basis of place of posting|
The pay structure in the table is the revised structure of the payable amount by the bank. All the allowances are payable on the basis of the place of posting of the candidate. The basic salary is common for the candidates. This salary is not affected by the posting of the candidate. In other words, only the other allowance comes under the effect of the place of posting of the candidate.
IBPS SO Salary 2018 Cash in Hand
|Grade of officer||Salary perks (Inclusive of All Allowances at current rate)|
|Grade 3 officer||INR 64600 (DA & HRA are included)|
|Grade 2 officer||INR 48800 (DA & HRA are included)|
|Grade 1 officer||INR 36400 (DA & HRA are included)|
The amount in this table is the cash in hand salary of the officer. This salary comes in hand of the officer after all deductions done by the bank. We will also provide the gross salary structure for the candidates.
Increment in Salary of IBPS SO Salary 2018 after 7th Pay Commision
The government has imposed the 7th pay commission on the various employment sectors. In other words, the salary of SO is also influenced by this commision. The data which is given below contains the increment done in the salary of the SO.
|Fields||Metropolitan areas||Capital regions||Other regions|
|Basic salary||INR 14500||Rs. 14500||INR 14500|
|DA||INR 14485.5||Rs. 14485.5||INR 14485.5|
|CCA||INR 540||INR 375||–|
|House Rent Allowance||INR 1232.50||Rs. 1087.50||INR 942.50|
|Total salary||INR 30758||Rs. 30448||INR 29927.5|
This data is the increment done in the salaries of the candidates.
Important Features About IBPS SO Salary 2018
The candidates should also know about the features of the salary perks of the IBPS SO Salary. These will enhance the knowledge of the candidates for the salary perks.
- The salary settlement will be based on the place of posting, grade of officer & type of work.
- It will also be influenced by the nature of the work offered by the bank.
- The salary perks will also be different for the various banks.
- Candidates will also get the detailed structure of the slary perks on the joining letter & the salary slip.
- The banks will also offer the increment in the salary on the basis of the official rules & regulations of the authority.
- The banks will also deduct the appropriate ratio of the salary on unpaid leaves.