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IBPS SO Salary and Perks

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IBPS SO Salary and Perks

shape Introduction

IBPS Specialist Officers are provided with various perks and their salary is calculated keeping in mind the different perks they get. The IBPS Specialist officers salary are decided on the basis of which scale they are in, there are three such respective scales i.e. Scale I, Scale II and Scale III. Read all the below information to get an idea about the IBPS SO Salary and Perks.

shape Salary

The starting basic pay of a Specialiste Officer is provided under the Junior Management Grade (Scale I) in the scale of Rs. 23700 – 980, where Rs. 23,700 is the basic pay and Rs. 980 is the grade pay. The total IN-HAND salary (before tax) per month shall be around Rs. 28,000 to Rs. 33,000 p.m depending upon the bracket of benefits you may fall in.
Basic Rs 23,700
Pay Scale 23700-980(7)-30560-1145(2)-32850-1310(7)-42020

The salary structure for scale I – Rs 14,500 – 600/7 – 18,700 – 700/2 – 20,100 -800/7 – 25,700/- approximately. So, the cash-in-hand will be around Rs. 24,000-32,000 nearly.
For the officers under scale II, the basic pay given is Rs 19,400 700/1- 20,100 – 800/10 – 28,100/ approximately. During appointment, the salary will be Rs. 34,000-40,000 approximately.
List of benefits available for Bank Specialist Officers are as:
    ✦ Dearness Allowance ✦ House Rent Allowance ✦ Capital Cost Allowance ✦ Medical Aid for self and for family ✦ Home Travel Concession ✦ Leave Fare Concession ✦ Perquisites (Conveyance, Newspapers, Entertainment allowance, House and Furniture, Maintenance etc.) ✦ Concessional Interest Rates for Housing/Car/Personal Loans ✦ Special Allowance

Allowances Values
Dearness Allowances (DA) 36 percent of Basic (Rs 8605.88)
House Rent Allowances (HRA) 7-9 percent of Basic
Special Allowances 7.75 percent
City Compensatory Allowances (CCA) 0, 3, or 4 percent
Provident Fund (PF) Contribution Rs 3000 - 3500

Earnings:
Basic Salary 23700
DA 47.8% of Basic (Revised every 3 months, depends on CPI)
Special Allowance with DA 7.75% of (Basic + DA)
HRA 1000–3000 (depends on location)
CCA Maximum of 870 (depends on location)

Deductions:
PF Contribution 10% of (Basic + DA)
EMI From Loans (if any)

Other Allowances: May include a number of such allowances, namely Entertainment, Conveyance, Newspaper, Cleansing etc. Ranges from 1000–3000 every month.
Lease Allowances: If you are posted outside your home station, you can avail Lease allowance, ranges from 5000–20000 (varies from bank to bank). However, you will cease to avail the ‘HRA’ once you opt for the Lease allowance.
The Rajbhasha officer is the face of the bank in the language concern. So the salary has to be high as per the job profile of Rajbhasha officer in banks.
Post Starting Salary Grade Pay In Hand Salary
Rajbhasha Officer Scale 1 Rs. 23700 Rs. 980 Rs. 28000 – 33000

The IBPS Rajbhasha Adhikari officer generally have higher pay than a probationary officer. The benefits available for Rajbhasha Adhikari officer are as follow:
✦ The Rajbhasha Adhikari officer are provided with many benefits along with basic salary payout.
✦ The benefits are Dearness allowance, house rent allowance, capital cost allowance, medical aid for self and family, home travel concession, leave fare concession, perquisites (conveyance, newspapers, entertainment allowance, house and furniture, maintenance etc.), the concessional interest rate for housing/ car/ personal loans and some other special allowances.
✦ The above-mentioned benefits are provided to the Rajbhasha Adhikari officer. These benefits are dreams comes true benefits provided by the banks to the Rajbhasha Adhikari officer and this job becomes the most rewarding jobs for the persons who have very deep roots with Hindi and Sanskrit language and can make them useful in daily operations.
✦ Rajbhasha Adhikari officer is connecting the Indians with their roots and always advisable to make use of Hindi along with the English language. Rajbhasha Adhikari.
Salary Structure Pay Scale
Annual Increment Years Basic Pay
980 7 23700
700 2 25000
600 7 28000
Pay Scale – INR 23700-(980×7)-30560-(1145×2)-32850-(1310×7)-42020.
It means that the –
  • Basic Salary of IT Officer in starting is – INR 23,700 but after 7 years it will be raised to INR 30,560 with the increment of INR 980 rupees.

  • And later, after 2 years this incremented salary will be raised to INR 32,850 after applying the increment of INR 1145 rupees and so the procedure goes on.

Probation period and pay after that for IBPS IT Officer:
After completion of the first year, an increment of Rs. 700 will be due on the basic pay. After that the increment on the basic pay is Rs. 800/- for the next 10 years. However, it is possible to get revised pay depending on the economy of the country.
Perks and Other Allowances:
Allowances Amount
Dearness Allowance (DA) 9.80% of the Basic Pay (Revised Quarterly)
Special Allowance (SA) 7.75% of the Basic Pay
Human Resource Allowances (HRA) 9.0% or 8.0% or 7.0% (Depends on the place of posting)
City Compensatory Allowance (CCA) 4% or 3%
IBPS Agriculture field officer is a Specialist Officer of the same level as Probationary Officer i.e. JMGS - Scale 1. Hence salary of SO and PO is same.
Basic pay: Rs. 23700-980(7)-30560-1145(2)-32850-1310(7)-42020.
It is the basic salary paid to the Agriculture Field Officers excluding all the allowances and bonus components. As mentioned above, the basic pay of IBPS SO is Rs. 23700/-.
Perks and Other Allowances:
Allowances Amount
Special Allowance 1836.75
Dearness Allowance (DA) 10163.63
City Compensatory Allowance (CCA) 870
Total (without HRA) 36570.38
House Rent Allowance (HRA) 2133.00
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
Basic pay: Rs. 23700-980(7)-30560-1145(2)-32850-1310(7)-42020.
It is the basic salary paid to the Agriculture Field Officers excluding all the allowances and bonus components. As mentioned above, the basic pay of IBPS SO is Rs. 23700/-.
The Gross Annual CTC (with HRA but without leased accommodation) of the officer post at Scale 1 is Rs. 5,57,640.52 inclusive of all the components. The salary break-up is as follows:
Perks and Other Allowances:
Allowances Amount
Special Allowance 1836.75
Dearness Allowance (DA) 10163.63
City Compensatory Allowance (CCA) 870
Total (without HRA) 36570.38
House Rent Allowance (HRA) 2133.00
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
The starting basic pay of a Marketing Officer (Scale I) is provided under the Junior Management Grade (Scale I) in the scale of Rs. 23700 – 980, where Rs. 23,700 is the basic pay and Rs. 980 is the grade pay. The total IN-HAND salary (before tax) per month shall be around Rs. 28,000 to Rs. 33,000 p.m depending upon the bracket of benefits you may fall in.
Pay Scales:
Basic Pay Annual Increment Number of Years
14,500 600 7
18,700 700 2
20,100 800 7
25,700 - -

The approximate salary of SO Marketing Officer is around 30,000 – 38,000 per month.