Good afternoon aspirants, while finally on 11/11/2020, IBA and trade unions have agreed to sign the 11th BPS recommendation which was due since Nov 2017 and finally after 3 years, our banker fraternity will get increased salary along with arrears since NOV 2017. Our article will be solely on the basis of joint note signed by IBA and Trade associations dated :11/11/2020.
New basic salary for scale 1 officers : Rs. 36000-1490*7-46430-1740*2-49910-1990*7-63840
DA rate as on 01/11/2020 :23.8% of basic pay
HRA : 9/8/7% of basic pay
Special Allowance : 16.4% of basic pay +DA thereon
Learning allowance: Rs. 600 +DA theron
CCA : Rs. 1400/1150
Location allowance : Rs. 700 for NON-CCA areas.
As 2 year experience is mandatory for CBO post, so each selected candidate will get minimum 2 increments on basic pay.
NPS : 10% of (Basic +DA) by employee and 14% of (Basic +DA) will be credited by Bank’s side.
Employee Provident Fund(Only for SBI employees) : 10% of basic pay and same amount will be credited by bank’s side.
Income tax : As per Income slab and investment declaration under IT ACT 1961 in respective financial year.
Gross salary calculation by taking basic pay of Rs. 38980(Rs. 36000+ 2 increment of Rs.1490 each)
Rs. 60342(For 7% HRA areas)
Rs.60732(For 8% HRA areas)
Rs. 61872(For 9% HRA areas along with CCA component)
Net Salary after 11th BPS :
Rs.51452(Excluding Income tax deductions)(For 7% HRA areas)
Rs. 52800(Excluding Income tax deductions)(For 8% HRA areas along with CCA component)
Rs.52995(Excluding Income tax deductions)(For 9% HRA areas along with CCA component)
Other Perks and Allowances will be in accordance with posting location and assigned role.