Wednesday, May 20, 2015

Bankers Wage Revision - 10th BPS



10th Bipartite Settlement (BPS)

Wage settlement for Probationary Officer (PO) posts is finalized today. Here we are providing a calculation of approx. salary for newly joined PO.



Pay Scale of Bank PO (JMGS Scale - I)

23,700 - (980x7) - 30,560 - (1145x2) - 32,850 - (1300x7) - 41,940




Pay Slip Components Calculation
* as per current DA

1.  Basic Pay = 23,700
2.  DA on Basic Pay = 33.7 % of 23,700 = 7986.90

3.  Special Pay = 7.75 % of 23,700 = 1836.75
4.  DA on Special Pay = 33.7 % of 1836.75 = 619

5.  HRA on Basic = 2133 (if 9 %), 1896 (if 8 %), 1659 (if 7 %) (depending on place of posting)
6.  CCA = 3 % or 4 %, subject to maximum of 600 or 870 respectively (depending on city posting)

7.  Medical = 8,000 per year (not a Pay Slip Component)



Now taking Basic Pay, Special Pay, DA both on Basic and Special Pay, HRA @ 9 % (for metro cities), and CCA as 870,

Gross Salary = 23,700 + 1836.75 + 7986.9 + 619 + 2133 + 870
= 37,145.65


Assumptions here -

1.  No leased accommodation is availed. Note that if you avail lease facility, then you have to deduct the HRA component from the gross salary. Instead you will be reimbursed with the leased amount.

2.  Place of posting is metro city, therefore 9 % HRA is taken. Otherwise, use 8 % or 7 % HRA depending on the place of posting, to calculate the HRA component.

3.  City Compensatory Allowance (CCA) is taken as 870. CCA will depend on the place of posting.



Note that, actual Inhand salary will be less than this Gross Salary, because of several deductions, as NPS (Pension) deduction, etc.





Officers Salary Excel Calculator

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Disclaimer - This is an independent calculation, and does not bear the original figure. Refer the official notification of respective authority.



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