{"id":20018,"date":"2022-01-06T12:26:32","date_gmt":"2022-01-06T06:56:32","guid":{"rendered":"https:\/\/www.seminarsonly.com\/news\/?p=20018"},"modified":"2023-08-19T22:33:32","modified_gmt":"2023-08-19T17:03:32","slug":"what-are-the-latest-salary-and-benefits-of-an-sbi-po-after-the-11th-bipartite-settlement","status":"publish","type":"post","link":"https:\/\/seminarsonly.com\/news\/what-are-the-latest-salary-and-benefits-of-an-sbi-po-after-the-11th-bipartite-settlement\/","title":{"rendered":"What are the latest salary and benefits of an SBI PO after the 11th bipartite settlement?"},"content":{"rendered":"<div class=\"q-click-wrapper qu-display--block qu-tapHighlight--white qu-cursor--pointer qu-hover--textDecoration--underline ClickWrapper___StyledClickWrapperBox-zoqi4f-0 bIwtPb\" tabindex=\"0\">\n<div class=\"q-flex qu-flexDirection--row\">\n<div class=\"q-inline qu-flexWrap--wrap\">\n<h2 class=\"q-text qu-truncateLines--5 puppeteer_test_question_title\"><span class=\"q-box qu-userSelect--text\" style=\"color: #800000;\">What are the latest salary and benefits of an SBI PO after the 11th bipartite settlement?<\/span><\/h2>\n<h3>By Mrigank Shanker<\/h3>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">I\u00a0joined\u00a0State Bank of India in\u00a0Jan 2020\u00a0and after around\u00a021 months of service\u00a0and after getting\u00a01 annual increment\u00a0and\u00a01 additional increment\u00a0for\u00a0JAIIB, my gross salary is( salary slip attached below):<\/p>\n<div class=\"q-box qu-mx--n_medium\">\n<div class=\"CssComponent-sc-1oskqb9-0 QTextImage___StyledCssComponent-sc-1yi3aau-0 ilDNcJ\">\n<div class=\"q-box unzoomed\" tabindex=\"-1\"><img decoding=\"async\" class=\"q-image qu-display--block aligncenter\" src=\"https:\/\/qphs.fs.quoracdn.net\/main-qimg-7360c04a7364191cbbd354896cd06a95-lq\" \/><\/div>\n<\/div>\n<\/div>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">Now, you might find this Gross part slightly inflated. Let me explain the bifurcations.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><strong>Basic Pay<\/strong>\u00a0for a newly joined SBI PO is\u00a0Rs. 41960\/\u2014 ( around 6000 more than any other PSB)<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><strong>DA\u00a0<\/strong>is revised quarterly as per latest CPI figures. At present(Oct\u201921) it is around\u00a028%\u00a0(it is same across all the banks)<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><strong>Special Area Allowance<\/strong>\u00a0is something that is given when you are posted at a place which, in the eyes of the bank, is difficult. Please stress on the part\u00a0&#8216;in the eyes of the bank\u2019.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">You can decide for yourself, if this is &#8216;difficult\u2019 or not. For me, it has been an amazing experience.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">Anyway, let&#8217;s not digress and stick to the Salary bit. More about my place of posting in some other post.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">So, you should deduct this\u00a0Special Area Allowance\u00a0bit to get a more realistic figure.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"DKgvZAjLhQ\"><p><a href=\"https:\/\/www.seminarsonly.com\/news\/all-star-tower-defense-codes-june-2022-codes-active-working-all-star-tower-defense\/\">All Star Tower Defense Codes June 2022 : Codes Active \/ Working All Star Tower Defense<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;All Star Tower Defense Codes June 2022 : Codes Active \/ Working All Star Tower Defense&#8221; &#8212; Seminarsonly.com\" src=\"https:\/\/www.seminarsonly.com\/news\/all-star-tower-defense-codes-june-2022-codes-active-working-all-star-tower-defense\/embed\/#?secret=Jq79y3QD2f#?secret=DKgvZAjLhQ\" data-secret=\"DKgvZAjLhQ\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><strong>Location Allowance<\/strong>\u00a0in a metro city is\u00a0Rs. 1400\/\u2014 (Maximum) and the same at my current place of posting is Rs. 700\/\u2014 (Minimum)<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><strong>Learning Allowance<\/strong> ( Rs. 600)\u00a0is fixed regardless of where you are posted.<\/p>\n<h3>Also Read : <a href=\"https:\/\/www.seminarsonly.com\/news\/https-facebookuserprivacysettlement-submit-claim-facebook-user-privacy-settlement\/\">https \/\/facebookuserprivacysettlement\/#submit-claim<\/a><\/h3>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><strong>Smart Compensation Package<\/strong>\u00a0is something where you can monetise all your perks like Petrol, Newspaper, Mobile, etcetera and get everything at once as a lumpsum amount along with your salary. You can also chose to exclude certain allowances like Leave Fare Concession out of the package. So, after exclusion of LFC, I am entitled to\u00a0Rs. 11,623\/\u2014 per month. Which means I am eligible to take LFC as it is not included in my SCP.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><strong>Special Allowance<\/strong>\u00a0is fixed at\u00a016.40% of Basic plus applicable DA on it. It comes down to\u00a0Rs. 7370\/\u2014 at present. It is completely different from\u00a0Special Area Allowance\u00a0(mentioned above).<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">I am also eligible for\u00a0Leased Accommodation\u00a0which ranges from\u00a0Rs. 8000\u00a0(Class C cities)\u00a0to\u00a0around\u00a0Rs. 30,000\u00a0( Mumbai).<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">I am also eligible for\u00a0Leave Fare Concession\u00a0and\u00a0Home Travel Concession.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">Apart from this, in my opinion, the best bit is that we are 100% covered under\u00a0Medical Reimbursements.\u00a0No capping\u00a0whatsoever. You can also include your spouse, your children, as well as your dependent parents in this cover. They are also 100% covered. Earlier, it used to be 75% but it has been upgraded to 100%<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">Let&#8217;s come to\u00a0deductions\u00a0part. It will give you a fair idea of how much do we take away as in-hand salary.<\/p>\n<h3 class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\"><span style=\"color: #800000;\">There are\u00a03\u00a0major heads of deductions:<\/span><\/h3>\n<ol class=\"q-box\">\n<li class=\"q-relative\">Provident Fund\u00a0(10% of Basic) and the same amount is contributed by the employer.<\/li>\n<li class=\"q-relative\">NPS\u00a0(10% of Basic+DA) and the same amount is contributed by the employer. The employers\u2019 contribution has been hiked to 14% of Basic+DA in 11th Bipartite settlement. But, it is yet to be implemented. Arrears of previous months will be credited accordingly.<\/li>\n<li class=\"q-relative\">Income Tax\u00a0(It varies person to person. For me, it is somewhere around 4\u20135k\/per month)<\/li>\n<\/ol>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">Let&#8217;s calculate the cost to company\u00a0(CTC)\u00a0at my\u00a0current\u00a0place of posting :\u00a0Rs. 85k (Salary) + Rs. 8k (Leased Accommodation) + Rs. 10k (Employer&#8217;s contribution in PF and NPS) = Rs. 1,03,000 \/per month.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"nUcNrIBsX5\"><p><a href=\"https:\/\/www.seminarsonly.com\/news\/celebrating-kiyoshi-kuromiya-google-doodle-celebrates-the-inspiring-life-of-kiyoshi-kuromiya\/\">Celebrating Kiyoshi Kuromiya : Google Doodle celebrates the inspiring life of Kiyoshi Kuromiya<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Celebrating Kiyoshi Kuromiya : Google Doodle celebrates the inspiring life of Kiyoshi Kuromiya&#8221; &#8212; Seminarsonly.com\" src=\"https:\/\/www.seminarsonly.com\/news\/celebrating-kiyoshi-kuromiya-google-doodle-celebrates-the-inspiring-life-of-kiyoshi-kuromiya\/embed\/#?secret=4ieCWMYhhF#?secret=nUcNrIBsX5\" data-secret=\"nUcNrIBsX5\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">The CTC will vary depending on the place of posting. For example,\u00a0if I am posted in Delhi, the salary component will be reduced by around Rs. 5k (special area allowance) but my Leased Accommodation will increase to Rs. 27k. This will take\u00a0CTC around Rs. 1,20,000\/\u2014 per month.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">And I have not included the medical reimbursements and LFC\/HTC in my CTC. If included, it will add a few more thousands to the overall CTC.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">I hope I have been elaborate enough.<\/p>\n<p class=\"q-text qu-display--block qu-wordBreak--break-word qu-textAlign--start\">So,\u00a0what&#8217;s stopping you from giving your best shot\u00a0at it! Amidst all the negativities, I hope this post acts as an\u00a0anecdote.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What are the latest salary and benefits of an SBI PO after the 11th bipartite settlement? By Mrigank Shanker I\u00a0joined\u00a0State Bank of India in\u00a0Jan 2020\u00a0and after around\u00a021 months of service\u00a0and&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-20018","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What are the latest salary and benefits of an SBI PO after the 11th bipartite settlement? - Seminarsonly.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seminarsonly.com\/news\/what-are-the-latest-salary-and-benefits-of-an-sbi-po-after-the-11th-bipartite-settlement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are the latest salary and benefits of an SBI PO after the 11th bipartite settlement?\" \/>\n<meta property=\"og:description\" content=\"What are the latest salary and benefits of an SBI PO after the 11th bipartite settlement? 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