IBPS Probationary Officer (PO) Salary

IBPS Probationary Officer (PO) Salary, Allowances, and Perks

IBPS PO Salary, IBPS PO Allowances, IBPS Perks, IBPS Probationary Officer (PO) Salary Allowances: As we know that every applicant wants to know more about the salary, Perks, Allowances about the IBPS Probationary Officer Post. Let us tell you all that Institute of Banking Personnel Selection [IBPS] has announced the entrance exam of the IBPS PO exam. This recruits number of bank jobs in the public sector banks (such as SBI, RBI, SIDBI, Associate Banks of SBI, NABARD, LIC, and Insurance Companies). Here in this article, we will discuss everything related to the IBPS Probationary Officer Salary, Allowances, and Perks.

IBPS PO Allowances

  • All interested applicants should try to apply in this job post by just filling an application form online.
  • Every IBPS candidate salary has to be increased & their basic pay would get up to Rs.23700/-.
  • For this exam, an application has to be completed their graduation or any higher studies. Those candidates can fill the application form.
  • Everyone has to undergo various processes of selection while taking a job in IBPS PO bank.


Salary Structure of IBPS PO 2020

Here we will discuss the structure of IBPS PO Salary 2020, which is given as follows:

Salary Structure of IBPS Bank PO 2020
CCA 870
Special Allowance 1,836.75
HRA 2,133.00
DA 10,163.63
Total (without HRA) 36,570.38
Basic Pay 23,700
Gross with HRA 38,703.38


Name of all Participating Banks

Here we will discuss the name of all participating banks in IBPS PO Recruitment Process. Let’s take a look at all the banks who have participated in this year recruitment process:

  • Canara Bank
  • Bank of Maharashtra
  • Indian Overseas Bank
  • Punjab & Sind Bank
  • Central Bank of India
  • Indian Bank
  • UCO Bank
  • Bank of India
  • Bank of Baroda
  • Union Bank of India
  • Punjab National Bank


IBPS PO In-Hand Salary 2020

  • During the joining date, the In-Hand Salary for IBPS Probationary Officer (PO) is of Rs 37,360 to 38,700.
  • Only those candidates are permitted for Rs.980/- annual increment that is for around seven years.

IBPS PO Salary

Let us tell you all that revision of wage for all Bank employees has been due from the month of November 2017 according to the 11 Bipartite settlement. Whenever the get implemented, then every employee will get a 15% hike. This will increase till 2022. So, the salary is given as follows:

Percentage Increment Salary Basic Pay Gross Salary
15% Rs.26,706/- Rs.37,068/-
20% Rs.27,866/- Rs.38678/-
25% Rs.29,026/- Rs.40,288/-
30% Rs.30,187/- Rs.41,899/-


Increment policy of IBPS PO

Here we will discuss the increment policy of the IBPS PO job post. The table shows you the timely increment of the IBPS PO Salary Structure. The table is as follows:

Percentage of Increment Basic Salary Total Gross Salary
30 % Rs. 30,187/- Rs. 41,899/-
20 % Rs. 27,866/- Rs. 38678/-
15 % Rs. 26,706/- Rs. 37,068/-
25 % Rs. 29,026/- Rs. 40,288/-


Salary Slip of IBPS Probationary Officer 2020

Here we will show you the salary slip of IBPS PO. All applicants should check this out and take an idea about that.

IBPS PO Salary slip

IBPS PO Promotion Policy

Here we will discuss the IBPS PO Promotion Policy. As we know, all types of Public Sector Banks always follow the proper rules & regulations of the Ministry of Finance (Government of India). The Ministry of Finance is based on the matter of promotion policy. All Public Sector banks have based on the two types of promotion channels such as the merit channel and the normal channel. The full information of the IBPS PO Promotion Policy is as follows:

Promotional Channels for PO [Public Sector Banks]

  • IBPS PO Career Growth: JMGS 1 Officer (Junior Management Grade Scale 1) or Probationary Officers salary is in between 23700 Rupees to 42020 Rupees. 

For Different Scale officers

  • SMGS 4 (Senior Management Grade Scale 4): The total salary is in between 50030 Rupees to 59170 Rupees.
  • MMGS 2 (Middle Management Grade Scale 2): The total salary is in between 31705 Rupees to 45950 Rupees.
  • SMGS 5 (Senior Management Grade Scale 5): The total salary is in between 59170 Rupees to 66070 Rupees.
  • MMGS 3 (Middle Management Grade Scale 3): The total salary is in between 42020 Rupees to 51490 Rupees.

The basic entrance of general salary structure is greater in State Bank of India in contrast to other nationalized banks. So, the entry-level salary structure is 27620 Rupees with around four prior increments in the salary structure of 23700-980 (7) to 30560 to 1145 (2) to 32850 to 1310 (7) to 42020.


Important points related to PO Salary

Here we will discuss all important points related to Probationary Officer Salary. Everyone has to understand the Basic Structure of the Salary. Important points are:

  • Pay Scale: It is a type of component that determines the person’s salary. The major factor that determines the structure of salary such as employee responsibilities & duties, person work during a job. So, basically, it is a type of salary structure from which employees set on their own.
  • CPC Fitment Factor: This is a type of change in the salary that came next to the seventh pay of commission is known as CPC Fitment Factor. So, while deciding the salary of an employee, every role plays an important part in it.
  • Basic Pay: It is a type of employee starting salary in addition to grade pay. It is based on the employee profile. Other than there are more examples that are based on employee work.
  • NPS: This refers to the National Pension Scheme. It describes the employee saving practice. In this, there is a little amount of salary will be saved and that particular amount will be given to that employee when he will be in his old age on the basis of monthly.  


IBPS Probationary Officer Allowances
 

Here we discuss the IBPS Bank allowances. As we all know that bank employees get basic pay salary, so it is also seen that many bank employees are eligible for various allowances:

  • Dearness Allowance (DA): This is a type of allowance that is based on the adjustment of living below the private and government sector PO employees or officers. This will be updated on the basis of quarterly as a consumer price index [CPI]. As there is an increase in inflation, then automatically DA will rise, and vice-versa.
  • HRA: HRA means House Rent Allowance. This will be done on the basis of a job posting. According to the place, location HRA cost will be changed. As we all know that house rent allowance prices will be more in the big areas or cities.
  • City Compensatory Allowance: As the name suggests that it is also done on the basis of job posting place, location. This can be 3%, 0%, or 4% as basic pay.
  • Special Allowance: According to the latest government rules & regulations in the Structure of Salary, there will be an addition of Special Allowances to all Probationary Officer Salary. As basic pay, this will be 7.75%.


I just hope that everyone will understand this article very well and gain more knowledge. If any applicant has faced some issues or problems related to this article, then he or she may ask all your queries in the given comment box.

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