Can you provide me the Salary and Perks for the post of Probationary Officer or PO in Punjab and Sind Bank which makes its recruitment through IBPS or Institute of Banking Personnel Selection?

The Salary and Perks for the post of Probationary Officer or PO in Punjab and Sind Bank which makes its recruitment through IBPS or Institute of Banking Personnel Selection are as follows:

IBPS PO 6 Salary details 2016 – 2017

Basic Pay 23700
Special Allowance 1836.75
DA 10163.63
CCA 870
Transport Allowance –
Total (without HRA) 36570.38
HRA 2133
Gross with HRA 38703.38

Medical Aid 8000
Entertainment 500
Newspaper 300
Petrol 3000
Telephone 400
Canteen Subsidy 400
Pension Contribution 2500

Gross Annual CTC (with HRA but without leased accommodation) 5,57,640.52

IBPS Bank PO Salary and Allowances

In addition to Basic Pay, bank officers (i.e. Probationary Officers / PO / Management Trainees) are eligible for the following allowances –

1. Dearness Allowance (DA) – It is a cost of living adjustment allowance paid to all govt and public sector Probationary officers. It is revised on a quarterly basis and based on Consumer Price Index (CPI). Calculation of DA depends on inflation. DA can go up with higher inflation and also come down if the inflation rate is in negative.

2. HRA – This depends on the place of posting, and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.

3. Special Allowance – This will add in 10th BPS (wef. 01/11/2012) and for Scale, I 7.75% on which DA is also payable

4. CCA – This also depends on the place of posting and can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%

5. Conveyance allowance – It is pay for commuting between home and office.

Other Benefits and Perks Available to Bank PO

• Leased Accommodation – This service is available to Bank officers instead of HRA. It also varies from bank to bank and depends on upon the place of posting. Some banks may offer official bank accommodation/ bank quarters instead of leased housing.
• Travelling Allowance – Most of the banks give a fixed Traveling Allowance and reimbursement of petrol bills.
• Medical Aid – An amount also attached for medical needs (Revised price is Rs8000/- p.a.)
• Newspaper Reimbursement: A fixed monthly amount is pay towards the cost of one newspaper
• Coverage under New Pension Scheme