Revised Salary of Bank Clerk / Assistants - What is the Salary of Bank clerk in India?
The salary of Bank Employees both Clerks and Officers; has been revised on 25th May 2015 (wef. November, 2012). In this post we are going to tell you about the latest revised salary of Bank Clerks as various Bank Jobs have been announced recently and students are searching details of revised salary of Bank Clerk as well as of Bank PO.
Pay Scale: Pay Scale of Clerks in all PSBs is same and almost all public sector banks place the clerks in the following scale at the 1st stage of the grade:
Rs. 11765 - (655x3) - 13730 - (815x3) - 16175 - (980x4) - 20095 - (1145x7) - 28110 - (2120x1) - 30230 - (1310x1) - 31540
Explanation about pay scale: For those who do not understand breakup of the pay scale, here is a small explanation that the figures in the brackets indicate the annual increment and the number of stages for which the same is applicable and the initial Basic Pay of a clerk will be Rs.11765.00
Current Salary of a Bank Clerk after Revisions will be like this: Basic Rs. 11765.00 + Special Allowance Rs. 911.00 + D.A. Rs. 4272.00 + HRA Rs. 1176.00 = Gross Salary Rs. 18123.00
Explanation about other Allowances: In addition to Basic Pay, clerks in banks are eligible for the following allowances. Explanation of these allowances is given here.
Dearness Allowance (DA): DA or Dearness Allowance in banks is revised on quarterly basis; these months are February, May, August and November. At present the Dearness Allowance is 33.70%. D.A. is linked to inflation and it can go up with higher inflation and also come down if the inflation rate is in negative.
Special Allowance: This has been added in 10th BPS (wef 01/11/2012) for clerks it 7.75% on which DA is also payable.
HRA: This depends on the place of posting and it can be either 10% or 9% or 7.5% depending on the place of posting.
Perks: There are a few perks also but they are not uniform and vary from bank to bank such perks are transport allowances, newspaper allowance, medical benefit etc.
Other benefits: There are other benefits also such as PF, Gratuity, Pension, LFC, HTC etc. for which a clerk is entitled.