Friday, 30 October 2015

Freshers Tree

latest salary structure of banks in india 2015 - 2016


Salaries are always a pressing issue for bank exam aspirants. The information is not generally available in a very clear and crisp manner.

1. Basic Pay or Basic Salary: Basic Salary is the most important component of the Salary. It is that amount which an organisation pays to an employee before any allowances are added or taken off. It forms the largest chunk of the salary and is taxable under Section 17 of Income tax act. EPF(Employee Provident Fund) and HRA are linked to Basic Salary.

2. Allowances: These comprise of amounts given to cover additional expenses incurred. They are given as a percentage of basic salary. Most common types of allowances for Banks and other PSUs are listed below:

(a) Dearness Allowance (DA) : It a cost of living adjustment allowance paid to Government and Public sector employess (PSU). In banks it is revised on a quarterly basis (i.e.every three months) based on the Consumer Price Index (CPI) which decides the inflation of the quarter. Hence Dearness allowance is proportional to inflation. Basically higher inflation means more DA and vice versa.

(b) House Rent Allowance (HRA) : The House Rent allowance is given to the employee to meet the rental expenses for his/ her accommodation. According to Income Tax Act, Section 10 (13A) and Rule 2A of the Income tax rules, the employee is exempted from paying tax on HRA.
The exemption is the least of following:

Actual house rent allowance received from the employer.
Actual house rent paid minus (10% of the basic salary + DA) .
If living in a metro(Delhi, Mumbai, Kolkata or Chennai), then 50% of basic salary
Else it is 40% of the basic salary
As you must have figured out , HRA depends on the place of posting.

(c) Special Allowance : This allowance is also sometimes referred to as  performance bonus. This is paid over and above basic salary.

(d) CCA : This is Compensatory City Allowance. It is paid for covering the cost of living in an expensive city.

(e) Conveyance allowance : It is paid for commuting between home and office.

Now that we have covered the basic terminology of salaries given to bank employees lets get to the difference in salaries you can get by clearing various bank exams.

1. IBPS PO : Over 10 lakh students appear for this exam conducted to fill in Probationary Officer/ Management Trainee in various Nationalized Banks/ Other banks and Financial Institutions  making it one of the biggest recruitment exams in the country. A newly selected Probationary officer is paid according to SCALE I salary which has the following structure:

Basic Pay: The basic pay for PO is same irrespective of the city of appointment. It is INR 23700 w.e.f. from June 1 2015.
Dearness Allowance (DA): As per the latest CPI released by the gov. the DA amount is INR 8605.88.
HRA: This is paid @ 9.0% or 8.0% or 7.0%   depending on the place of posting.
CCA: This is paid @ 4%, 3% or 0% depending on the place of posting.
Special Allowance: For scale I it is paid @ rate of  7.75%
Perquisites (Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc. 4,130)
Leased accommodation upto Rs 29500, this is provided in lieu of HRA.

2. SBI PO : This is conducted to fill in Probationary Officer/Management Trainee for State Bank of India (SBI). They are also paid according to scale I with a few additional benefits:

Basic Pay: The basic pay for SBI PO is same irrespective of the city of appointment. It is INR 23700 w.e.f. from June 1 2015.
Dearness Allowance (DA): As per the latest CPI released by the gov. the DA amount is INR 8605.88.
CCA: This is paid @ 4%, 3% or 0% depending on the place of posting.
Special Allowance: For scale I it is paid @ rate of  7.75%
In SBI there is a provision of four additional increments for Probationary Officers at the time of joining hence the salary of  SBI PO is around 6000 more as compared to PO from other nationalized banks.
Perquisites (Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc. 4,130)
Leased accommodation upto Rs 29500, in lieu of HRA.

3. IBPS Clerk/ SBI Clerk : SBI and IBPS Clerk are conducted to fill in various posts of Assistants and Stenographers for SBI and other nationalized banks and Non Banking Financial Institutes. The salary is structured in the following way:

Basic Pay: The basic pay for clerk is same irrespective of the city of appointment. It is INR 11765 w.e.f. from June 1 2015.
Dearness Allowance (DA): As per the latest CPI released by the gov. the DA is INR 4272.08.
HRA: This is paid @ 10% or 9% or 7.5%  depending on the place of posting.
CCA: This is paid @ 4%, 3% or 0% depending on the place of posting.
Special Allowance: The amount of special allowance is INR 911.79.
Transport Allowance: It is paid for conveyance amounting to INR 425.00.

4. IBPS RRBs: These exams are conducted for recruitment of Officers in Middle Management Grade (Scale III), Officer in Middle Management Grade (Scale II), Officer in Junior Management (Scale I) Cadre and Office Assistant (Multipurpose)

Post
Scale of Pay
Office Scale III
42020-1310(5)-48570-1460(2)-51490.
Officer Scale II
31705-1145(1)-32850-1310(10)-45950.
Officer Scale I
23700-980(7)-30560-1145(2)-32850-1310(7)-42020.
Office Assistant(MP)
11765-655(3)-13730-815(3)-16175-980(4)-20095-1145(7)-28110-2120(1)-30230-1310(1)-31540.
Emoluments
Post
Approximate Emoluments per Month inclusive DA and HRA at Current Rate
Office Scale III
At  present,  the  total  starting  emoluments  are    approximately`64600/- per month inclusive of DA and HRA at the current rate.
Officer Scale II
At  present,  the  total  starting  emoluments  are    approximately`48800/- per month inclusive of DA and HRA at the current rate.
Officer Scale I
At  present,  the  total  starting  emoluments  are    approximately`36400/- per month inclusive of DA and HRA at the current rate.
Office Assistant(MP)
At  present,  the  total  starting  emoluments  are    approximately`18100/- per month inclusive of DA and HRA at the current rate.

5. RBI GRADE B : This exam is organised for recruitment of officers in Reserve Bank of India.

Basic Pay: It is INR 21,000
Emoluments: Including dearness allowance, local allowance, house rent allowance, family allowance and grade allowance initial monthly gross emoluments are approximately Rs 53,888.

6. NABARD officer exam: National Bank for Agriculture and Rural Development organizes this exam for recruitment of candidates for various posts :
Sr.No.
Cadres
Scale `
i)
Officers in Grade ‘A’ (Asstt. Manager) (including the Private Secretary in Grade ‘A’)
17100-1000(11)-28110-EB-1000(4)-32100-1100(1)-33200(17years)
ii)
Officers in Grade ‘B’ (Manager)
21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400(16 years)
iii)
Officers in Grade ‘C’ (Asstt.Gen.Manager)
28350-1000(5)-33350-1150(4)-37950- EB-1150(3)-41400(13 years)
iv)
Officers in Grade ‘D’ (Dy. Gen.Manager)
39850-1200(2)-42250-1300(3)-46150(6years)
v)
Officers in Grade ‘E’ (General Manager)
42300-1300(3)-46200-1400(3)-50400-1600(1)-52000(8 years)
vi)
Officers in Grade ‘F’ (Chief General Manager)
60600-1600(4)-67000(5years)
vii)
Executive Directors
75100(1)-2000(2)-79100(3years)
viii)
Sr Private Secretary and Principal Private Secretary
21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400-EB-400(1)-36800-1150(4)-41400(21years)

Group B

Scale INR 8040-410(3)-9270-500(4)-11270-550(4)-13470-650(3)-15420-720(1)-16140- 990(4)-20100(20 years)

Group C

Scale INR 6350-220(4)-7230-260(3)-8010-300(3)-8910-400(2)-9710-500(4)-11710-680(3)-13750(20 years)

Today Top Bank & Govt Jobs:

       Name  

  Salary/No of posts

 Apply Details

DRDO
Last Date To Apply : 27 & 28-10-2015
Vikram Sarabhai Space Centre
Last Date To Apply : 17 & 31 Oct 2015
Postal India Recruitment 2015
Last Date : 20-10-2015
NAAC Recruitment 2015
Last Date : 26-10-2015.
Revenue Department
Vacancies 1644 || Pay Scale :21000/-
AP Police Notification 2015
8000 Constable Posts
South Central Railway
22000 Vacanicies
State Bank of India
Last Date to Apply: 26-10-2015
UIDAI
Last Date to Apply : 13/11/2015
ONGC
Last Date: 25-10-2015
High Court Recruitment 2015
Last Date: 29-10-2015.
IBPS Clerk -III Notification Out 2015
Last Date: 17th October 2015
SSC Recruitment 2015
Last Date:16th November 2015
IBPS RRB -IV
Check Details
SBI PO Cut off Scores
Check Details
Ministry of Defence Recruitment 2015
Last Date Applications: 13-11-2015
SSC CGL Tier II Admit Cards
Check Details
List of Appointments in October 2015
Check Details
SSC
Pay Scale : Rs. 5200-20200
METRO Rail Recruitment In 2015
Last Date to Apply : 21st Oct 2015
State Road Transport Corporation
Last Date To Apply : 31-10-2015
BHEL
last Date : 16-10-2015
Prasar Bharati Recruitment
Pay Scale: INR Rs. 23000/-.
IBPS RRBs-CWE-IV RESULT
CHECK DETAILS
CBI
Pay Scale: INR Rs. 15600 - 39100
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