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IBPS PO Salary 2024 | In Hand Payment, Perks, Allowances

IBPS RECRUITMENT 2023【NEW】

For the job of probationary officer, IBPS has issued an invitation to apply online (PO). There are thousands of job vacancies overall. Check out this article's IBPS PO Salary information. You can review the specifics of the IBPS PO salary 2023 in terms of hands, job profile, perks, and benefits in this article.

IBPS PO Salary 2023 

CATEGORY DETAILS
Basic Pay 36000/-
Special Allowance 5904/-
Dearness Allowance 8593/-
CCA 1400/-
Learning Allowance 600/-
DA Others 1552/-
Housing Rent Allowance 3240/-
Gross Salary 57289/-
Deduction (Tax & NPS) 4659/-
Net Salary 52630/-

There are many types of perks and allowances given to the Probationary Officer of IBPS.

"IBPS PO Salary in hand after deduction is Rs. 52630/- Per month(Approx)"

 

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

The current CTC (Cost to Company) of an Executive Officer (Probationary officer) posted in Mumbai is approximately Rs.13 lakh per annum.

  • Your Basic will be 36000 which is a pending revision from August 2017. (expect it to be above 50k after wage revision)(1610 increment will be added to your basic every year)
  • Current Dearness Allowance is around 69.2 % which comes out to approx 22600 changes every 3 months (Feb to April and so on)
  • House Rent Allowance- 10% As all training centers are in Class A cities so 3279
  • ( After training you can also go for staff quarters if available or avail lease accommodation, the rates for which is
  • Mumbai -29500, Metro-Rs.20000, Class A-Rs.15000, Class B-Rs.10000 and for Class C cities-Rs.8000 Per month)
  • Furniture allowance for once in 5 years-Rs.87500+GST(introduced in September 2019)
  • Mobile Handset Reimbursement-Rs.10000 once in 3 years
  • Office bag Reimbursement- Rs.3000 once in 3 years

After Training:

  • Apart from the above emoluments
  • Reimbursement of Expenses towards Household help-Rs.1000 PM(introduced in July 2019)
  • Entertainment Reimbursement. Rs.800 PM
  • Mobile bill Reimbursement- Rs.400 PM
  • Newspaper Reimbursement- Rs.200 PM
  • Cash Medical Benefit- Rs.13300 PA
  • City Compensatory Allowance-3% so 983
  • Transport Allowance-1330
  • Leave travel concession-4500km each to and fro 2nd AC Fare with family once in 2 years/LTC Home town for self every year
  • PLI BONUS up to 6% of your total yearly Basic+DA( maximum)
  • Insurance cover of 50Lakhs(GIS)+ 8 lakhs(GSLI)+10lakhs(GTS)
  • Mediclaim covers up to 40 lakhs for you and your dependents. (Premium one-fourth paid by Employee)
  • Defined contribution Pension Scheme- Equal contribution of 10% of Basic+DA from the corporation.
  • Income Tax on Perks Around 30000 Per Year paid by the corporation on your behalf
  • EL Encashment Of 30 Days Every 2 Years on
  • If you will add up all these then your annual CTC will cross Rs. 12 lakhs. And this is under revision. So after revision, it will definitely increase anywhere between 10% and 15%.

IBPS PO Salary In Hand

"IBPS PO Salary in hand after deduction is Rs. 52630/- Per month(Approx)"

हाथ से वेतन की गणना निम्न सूत्र द्वारा की जा सकती है:

  • हाथ में वेतन = मूल वेतन + एचआरए + डीए + शहर मुआवजा (पोस्टिंग पर निर्भर करता है) - (पीएफ और पेंशन अंशदान)
  • आपके वेतन में 14% की कटौती होगी।
  • डीए का जोड़ होगा जो 75% तक भिन्न हो सकता है।

IBPS PO Salary for Metro City/ State Capital/ Rural

The basic pay of IBPS PO in the state capital/ State Capital/ Rural is Rs. 52630/-. Check the Allowances during probation and salary after probation from the below section.

EVENT DETAILS
Salary during Probation Rs. 52630/-
Allowance during Probation -
Salary after Probation No Change

Allowances

CATEGORY DETAILS
Pay Salary INR 36000/-
Basic Pay INR 36000
D.A.(Dearness Allowance) 31% of the Basic Pay (Changes as per the location of work)
H.R.A.(House Rent Allowance) 7% to 9% of the Basic Pay
City Compensatory Allowances (CCA) 3% to 4% Depending on the Location
T.A.(Travelling allowance) -
D.A. on T.A. As per Govt rule

Details of  IBPS PO Salary Allowances & Deduction

  • Dearness Allowance (DA): 46.9%-75% of the Basic Pay (Differs as per the work location)
  • House Rent Allowance (HRA): 7% to 10% of the Basic Pay
  • City Compensatory Allowance (CCA): 3%-4% of the basic pay as per the location

OR

  • महंगाई भत्ता (DA): मूल वेतन का 46.9% -75% (कार्य स्थान के अनुसार कठिनाइयाँ)
  • मकान किराया भत्ता (HRA): मूल वेतन का 7% से 10%
  • शहर का भत्ता भत्ता (CCA): स्थान के अनुसार मूल वेतन का 3% -4%
  • परिवहन भत्ता: रु .
  • PF(10% of basic)- 
  • NPS(10% of basic + DA)- As per Govt rule
  • Income Tax- As per Govt rule

IBPS PO वेतन की गणना 7 वें वेतन आयोग के अनुसार की जाती है। सभी उम्मीदवार जो IBPS पीओ परीक्षा के लिए सभी चरणों को उत्तीर्ण करते हैं, उन्हें इस आयोग के अनुसार वेतन दिया जाएगा। पिछले वार्षिक पैकेजों को देखते हुए, सालाना मिलने वाला वेतन INR PA 12 LPA - previous 17 LPA के लगभग था।

IBPS PO Salary Perks

IBPS PO not only provides an attractive salary but also some amazing perks like:

  • Meal coupons:
  • Newspaper Reimbursement: 
  • Entertainment Reimbursement:
  • Mobile bill Reimbursement:
  • Cash Medical Benefit: 
  • EL  Encashment Of 30 Days Every 2 Years
  • Mobile Reimbursement:
  • Office Carry bag Reimbursement:
  • Allowance for Furniture for once in 5 years:
  • PLI BONUS your total yearly Basic+DA up to 6% ( maximum)
  • Household Help Expense Reimbursement: 
  • Insurance cover of 50 Lakhs(GIS) + 8 lakhs (GSLI) + 10lakhs (GTS)
  • Defined Pension Scheme – Equal contribution of 10% of Basic + DA from the corporation.
  • Around 30000 Income Tax on Perks Per Year paid by the corporation on your behalf
  • Mediclaim: Up to 40 lakhs cover for you and your dependents. (Premium one-fourth paid by Employee)
  • Leave travel concession:  4500 km each to and fro 2nd AC Fare with family once in 2 years/LTC Home town for self every year.

IBPS PO Salary 2023 FAQs

⭐ What is the Basic Salary of IBPS PO 2023 Post?

The basic salary of IBPS PO is 36000/-.

⭐ What is the annual package of IBPS PO 2023 Post?

The amount varies with the location of the job posting. The Gross compensation received by IBPS PO lies between 12 Lakhs (minimum) to Rs. 17 lakhs per annum.

⭐ What is the IBPS PO Annual Package?

IBPS PO salary is calculated as per the 7th pay commission. Looking at the previous annual packages, the salary received annually was around INR ₹12 LPA – ₹17 LPA Approx.

⭐ What is the In Hand salary of IBPS PO?

IBPS PO In Hand salary is 52630/-.

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