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IBPS PO Salary 2023: Want to know the details of the IBPS PO Salary? Well, this article will give all the details of the Revised Salary Structure, Pay Scale, Job Profile, Perks & Allowances. The Institute of Banking Personnel Selection (IBPS) has organized the Probationary Officer exam to recruit to join the Public Sector Bank every year. Every year there will be a huge number of candidates who will write the IBPS PO Exam. In order to ace the government there will be a proper procedure and always with the salary, there will be a procedure. All the employees will be attentive to the IBPS PO Salary rather than the security, lucrative perks, and allowances. All the candidates can overlook the IBPS PO Salary. Go through every detailed information in the article.
IBPS PO Salary 2023
The IBPS PO salary for 2023 has been updated based on the 11th Bipartite Agreement in November 2020. The revised basic pay now stands at Rs. 36,000, and this new salary structure has been effective since November 2017. For more information on the revised IBPS PO salary structure, job profile, career growth, allowances, and promotion policy, continue reading below.
IBPS PO Salary Structure
Please refer to the tabulated data below to check the revised salary structure as per the 11th Bipartite Agreement, which was released in November 2020.
| IBPS Bank PO Salary Structure in India | |
| Basic Pay | Rs. 36,000 |
| Special Allowance | Rs. 5,904 |
| Dearness Allowance | Rs. 8,593.20 |
| CCA | Rs. 1,400 |
| Learning Allowance | Rs. 600 |
| DA Others | Rs. 1,552.50 |
| Housing Rent Allowance | Rs. 3,240 |
| Gross Salary | Rs. 57,289.70 |
| Deduction (Tax & NPS) | Rs. 4,659.32 |
| Net Salary | Rs. 52,630.38 |
IBPS PO In-hand Salary
The first-in-hand salary for the IBPS PO Employees will be around Rs. 52,000 to 55,000 including the dearness allowances, special allowances, HRA, and other perks. The IBPS PO Gross Salary will be like Rs. 57,000. Considering the deduction, the IBPS PO net in-hand salary will be 52,000 to 55,000.
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IBPS PO Salary After Bipartite Settlement
The wage revision for bank employees has received approval to take effect from November 2017 as part of the 11th bipartite settlement. The revised salary structure will remain in place for five years, until 2023, or until it is further revised by the IBPS. This decision benefits approximately 8.8 lakh employees covered under the 11th bipartite settlement. Additionally, the provision for timely increments in the pay of IBPS PO officers is included.
IBPS Probationary Officer Salary Slip
The IBPS Probationary Officer salary slip is one of the important documents for the employees. In the IBPS PO salary slip, there will be details that will be considered at the last of the work. Check out the sample IBPS PO Salary Slip.
IBPS PO Perks And Allowances
We have mentioned that there are beneficial allowances in IBPS PO including the BPS PO Salary. Here we have provided the information about each IBPS PO Perks And Allowances. Check out them:
| IBPS PO Allowances | |
| IBPS PO Basic Pay | Rs 36,000/- ( Increment in 4 stages) |
| House Rent Allowances | 7%-9% of the basic pay |
| Dearness Allowance | 23.87% of the Basic Pay (Varies based on inflation rates) |
| City Compensatory Allowance (CCA) | 3% or 4%(depending on the place of posting) |
| Special Allowance | 7.75% of the basic pay |
IBPS PO House Rent Allowance (HRA)
The House Rent Allowance (HRA) for IBPS PO varies based on the place of posting, with different rates applicable to metros, big cities, or other locations. The HRA can be 9.0%, 8.0%, or 7.0% of the basic salary.
IBPS PO Dearness Allowance (DA)
Dearness Allowance (DA) is provided to IBPS PO employees as a percentage of their basic salary. In January 2016, it was around 39.8% but has since been reduced to 23.87% as of November 2017. The DA is revised every three months using data from the All India Consumer Price Index published by the Ministry of Statistics and Program Implementation, Government of India. There is a push from Bank unions to make it a monthly revision in the upcoming wage settlement.
IBPS PO Special Allowance (SA)
The Special Allowance (SA) was introduced in the last wage revision for banks and is approximately 7.75% of the basic pay. It came into effect from November 2017.
IBPS PO City Compensatory Allowance (CCA)
The City Compensatory Allowance (CCA) for IBPS PO is determined by the type of city. It may range from 0%, 3%, or 4%.
Other Perks for IBPS Probationary Officers
Apart from the allowances mentioned above, IBPS Probationary Officers also enjoy additional perks, including Learning Allowance, Traveling Allowance, Newspaper Reimbursement, Medical Aid, and benefits under the New Pension Scheme. When considering all these benefits, the total salary for an IBPS Probationary Officer may amount to Rs. 52,000 or more.
IBPS Probationary Officer Job Profile
Probationary Officer in the banking sector holds a prestigious and coveted job profile among graduates. Aspiring candidates seeking careers in banking are keen to understand the roles and responsibilities of a PO employee. In this section, we provide a detailed overview of the job profile and tasks handled by a Probationary Officer after their selection.
- Training and Operations: During their probation period, selected candidates undergo training in various day-to-day banking operations, including finance, accounting, billing, investment, and revenue collection.
- Customer Query Resolution: One of the primary responsibilities of a Probationary Officer is to resolve customer queries and concerns.
- Branch Supervision: A Probationary Officer is entrusted with maintaining and supervising activities at their respective branch.
- Business Opportunities: As a Probationary Officer, they have the responsibility of exploring new business opportunities for the branch.
- Transaction and Loan Management: A Probationary Officer oversees daily transaction activities and manages loan-related processes.
- Customer Relations: Maintaining positive public relations with customers and effectively communicating issues and grievances to the bank authorities are part of the PO’s role.
IBPS PO Career Growth
There will be growth while working as an IBPS PO. And the growth will be based on the performance, experiences, and knowledge they have equipped. Here we have given the list related to the IBPS PO Promotion Growth.
- Middle Manager – Middle Management Grade Scale 2
- Senior Manager – Middle Management Grade Scale 3
- Chief Manager – Senior Management Grade Scale 4
- Assistant General Manager – Senior Management Grade Scale 5
- Deputy General Manager – Top Management Grade Scale 6
- General Manager – Top Management Grade Scale 7
- Executive Director
- Chairman and Managing Director
IBPS PO Promotion Policy
The promotion policy matters in most public sector banks adhere to uniform guidelines issued by the Ministry of Finance, Government of India. These banks typically have two promotion channels: the merit channel and the normal channel.
The given information about the IBPS PO Salary has clarified all your doubts. For more updates stay connected to our website @ freshersnow.com