LATEST SBI PO SALARY IN HAND || DA HRA PERKS ALLOWANCES

LATEST SBI PO SALARY

Recently on 18th October 2019, India’s larges bank SBI released final result of Probationary officer. SBI is only bank that give 4 advance increment just after joining. No other bank give these advanced increment like canara, pnb, Syndicate bank, OBC bank, Union bank etc. If talk about LATEST SBI PO SALARY IN HAND 2019 in the monh of October its approximately 50k . Here we disscuss about detail Allowance, perks, medical , petrol, job profile, responsibility etc. 7th pay Commission for bank is not aplicable, Here other pay revision system in Banks sector. In Banking next pay revision is 11th bipartite settlement. It is due in all bank and insurance sector.

SBI PO prelims mains cut off 2019 category wise

SBI PO Salary Structure:

SBI PO basic pay s Rs 27, 620 in the pay scale of 23700-980/7- 30560-1145/2-32850-1310/7-42020. SBI PO get four increment on his basc. SBI PO Salary will include the following allowances:

SBI PO Salary 2019: Allowances as per on October 2019
Dearness Allowance (DA)Each quarter DA is calculated based on the Consumer Price Index (CPI) . You can expect your DA to be around 68.10 percent of the basic pay.
City Compensatory Allowance (CCA)Depends on place of posting varies 3 to 4%.
Leased House Accommodation or House Rent Allowance (HRA)This too depends upon the city of your posting and can vary from Rs 8000 (in rural areas) to Rs 29,500 (in Mumbai). Its normally 8%, 9%, 10%. But if hire on rent it may be highest 29500.
Travel Allowance (TA)Reimbursement of travel cost for official trips,travels.
Furniture AllowanceRs 1,20,000 for the purchase of furniture.

SBI PO Additional Benefits:

SBI po other allowances Apart from the above-mentioned allowances, an SBI PO will also get the following benefits:

SBI PO Additional Benefits
Medical insurance (100 percent for employees and 75 percent for family members)
Cashless treatment in selected panelled hospital around the country
Monthly Newspaper allowance
Books and magazines allowance
Petrol allowance 50 L to 55 L
House maintenance allowance
Telephone bill reimbursement
Entertainment allowance
Concession in interest rates for House Loan, Car Loan, and Personal Loan etc

LATEST SBI PO SALARY IN HAND 2019:

As we discussed about SBI PO salary and allowances. Now calculate in hand salary.

  1. Basic pay 23700 + 4×680 = 26720.
  2. DA 68.10% of basic = 18196.
  3. Here 2 case arises. Case 1: You r not in rent house then varies according to city 8%, 9%, 10%. Let’s 9% = 2485. Case 2: you are in delhi on rented accommodation 20000 rupees then = 20000 hra .
  4. CCA in general = 870.
  5. Special allowance,like paper, telephone, books, magazine etc 2000 to 5000. let’s take = 2500
  6. Petrol allowance 50 liter for 2 wheeler and 55 liter for 4 wheeler = 55 x 73 = 4015

Total gross salary= 26720 + 18196 + 2485 + 870 + 2500 + 4015 = 54,786

Deduction:

  1. PF contribution 10% of basic = 2672
  2. pension contribution 10% of (basic + DA) = 4491

LATEST SBI PO SALARY IN HAND 2019 = 54786 – 4491 = 50,295

here PO has trick to save more. usually PO take room on rent around 8000 but make setting with owner to prepare 20000 receipt of rent. 2000 extra given to owner for this work. finally 10000 rupees in pocket without tax. So in hand salary jump to 60000.

SBI PO OTHER INCOME/ BRIBE/ UPER KI KAMAYEE :

It was old time when bankers earns lots of money in the favor. mostly bribe taken on the occasion of approval of loan, claims, etc. there is huge uper ki kamayee in rural areas where people don’t know there rights. it is also depend on luck if your branch in business are then your will get lots of gifts on the occasion of festive session.

SBI PO 2019 Job Profile: Roles And Responsibilities

The SBI PO has a probation period of two years during which they can learn the various aspects of banking. its include supervising clerical activities, managerial activity, customer service, processing loans, opening bank accounts, etc. They will also learn about various fields of banking like fiel work, Retail Banking, Rural Banking, etc. Apart from this there is a on site training, Probationary Officers also get trained at SBI training institutes. SBI Probationary officer, which is Junior Management Grade Scale-I, after completion of the probation period, He will undergo screening, and after qualifying it, they will also be promoted to Officer Middle Management Grade Scale-II.

s.noSBI PO Promotions & Career Growth
1Probationary Officer
2promote to Deputy Manager
3then Manager
4then Chief Manager
5next Assistant General Manager
6next Deputy General Manager
7next General Manager
8finally Chief General Manager
Bank PO Career and Promotions in Banking Sector with pay scalepay scale of sbi po hierarchy
Scale I: Officer i.e. SBI PO23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020
Scale II: Manager31705 -1145 -32850 -1310 -45950
Scale III: Senior Manager post42020 -1310 -48570 -1460 -51490
Scale IV: Chief Manager post50030 -1460 -55870 -1650 -59170
Scale V: Assistant General Manager59170 -1650 -62470 -1800 -66070
Scale VI: Deputy General Manager68680 -1960 -76520
Scale VII: General Manager post76520 -2120 -85000
Executive Director (ED)Approx 1.5 + lac
Chairperson and Managing Director (CMD)Approx 2 + lac

SBI additionally offers foreign postings to good communication skilled officers in light of their performances. There is more than 190 outside workplaces in 36 distinct nations. To work in outside India. SBI PO also clear a separate exam and complete a compulsory course.

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