The total basic salary for newly joined clerk in South Indian Bank is of Rs. 8000/-.

South Indian Bank clerk salary

Facilities Places with Places with Places with population Other Places
population of more population of more 5 lakh and above,
than 45 lakhs than 12 lakhs State Capitals/UT etc
Basic Pay Rs.7200.00/- Rs.7200.00/- Rs.7200.00/- Rs.7200.00/-
Dearness Allowance Rs.6922.80/- Rs.6922.80/- Rs.6922.80/- Rs.6922.80/-
HRA – 10 ; 9%;
7.5%,7% Rs.720.00/- Rs.648.00/- Rs.540.00/- Rs.504.00/-
Total Salary
(including HRA) Rs.14842.80/- Rs.14770.80/- Rs.14662.80/- Rs.14626.80/-

IBPS Clerk Recruitment

In Hand salary:

Component Now After Revision
Basic 8000 12812
HRA 800 (10 % Of DA) 1921 (15 % Of DA)
DA 8000 5124
Total 17225 21990
Pf -1722 -2199
Tax -20 -20
Union Fee -40 -60
Benefit Fund -250 -250

After Revision, the In Hand Salary will increase from now salary Rs. 21,339 to Revised Salary Rs. 23,117/-.

Basic Salary-

The initial salary is Rs. 7200/- and almost all commercial banks are giving allowances in exactly 2 increments of Rs. 400/-

In this mean the total basic salary for newly joined clerk is of Rs. 8000/-.

Increments:

After completion of the 1 year service there will also be 1 increment so in that case candidates will get total 3 increments by the end of the service.

2nd Years of the service the increment will be of Rs. 500/- till the next three years.

DA (Dearness Allowances):

The DA (Dearness allowances) is revised for every three months like “Jan, Feb, March”, “April, May, June”, “July, Aug, Sep”, “Oct, Nov, Dec”.
These are the quarters in which the DA is changed as per the consumer price index.

CCA (City Compensation Allowances):

These allowances will be applicable to those employees who appointed at the big cities or metro cities.
It is 4% for metro cities and 3% for other cities.

HRA (House Rent Allowance):

The HRA also depends on the place of the posting and it may be 10% or 9%or 7.5%or 7%.
There is 10% HRA for metro cities, 9% for population more than of 12 lakhs with GOA, 7.5% for the population more than of 5 lakhs and Rest 7 percentage for other cities.