SBI Apprentice Salary 2024 | Monthly Payment, In Hand Amount
SBI Apprentice Salary 2023 The compensation for SBI Apprentices varies with their location but generally falls within the range of INR 15,000 to INR 20,000 per month. The specific stipend amount received by an SBI Apprentice is contingent on the duration of their service in this role. For instance, during the initial year, the stipend is INR 15,000, in the second year it increases to INR 16,500, and by the third year, it reaches INR 19,000.
It's essential to note that SBI Apprentices do not hold permanent positions within the bank and therefore are not entitled to the employment benefits and allowances provided to regular SBI employees. However, they do have the option to terminate their apprenticeship prematurely if they pass any other banking or government examinations during the course of their apprenticeship training.
SBI Apprenticeship Salary: Overview
The Ministry of Skill Development and Entrepreneurship has updated the minimum payable stipend (salary) rate. Starting in Hand stipend is based on educational background and trade type. The base SBI Apprentice salary is therefore Rs. 15000. The SBI Apprentice's first-year pay scale ranges from Rs. 15000 to Rs. 19,000. (approximately).
Important Update -
SBI Apprenticeship Salary: Allowances
|SBI Apprentice Salary 1st year||Rs15000|
|SBI Apprentice Salary 2 st year||Rs16500/-|
|SBI Apprentice Salary 3st year||Rs19000/-|
|D.A.(Dearness Allowance)||As per Govt Rule|
|H.R.A.(House Rent Allowance)||As per Govt Rule|
SBI ApprenticeSalary: Deduction
|PF(10% of basic)||300|
|NPS(10% of basic + DA)||---|
|Income Tax||As per Govt rule|
SBI Apprentice Stipend As Per Apprenticeship Act 1961
The pay scale of Rs.15,000 - 19,000/- at the minimum Basic Pay of Rs.15,000/- during one-year training cum probation as Executive Trainee in E-2 grade.
SBI Apprentice Pay and Allowances
Basic Pay as applicable in the grade, Variable Dearness Allowance (VDA) at the applicable rates, and perks & allowances under the cafeteria approach.
Performance-related Pay is based on individual and organizational performance.
Company Accommodation / Leased Accommodation/HRA, the medical facility, group insurance, etc. All the above benefits will be governed by the policy of the Company in force & amended from time to time.
SBI Apprentice Salary FAQ -⭐What is the salary structure for SBI Apprentices in 2023?
SBI Apprentices in 2023 receive a stipend rather than a conventional salary. The stipend is set at Rs. 15,000 per month for the entire one-year training period, with no deductions.⭐ Is there any variation in the stipend during the SBI Apprenticeship?
Yes, the stipend for SBI Apprentices may vary based on the year of training. In the first year, it is Rs. 15,000 per month, in the second year, it's Rs. 16,500 per month, and in the third year, it's Rs. 19,000 per month. The base stipend is Rs. 15,000.⭐ Are there any additional allowances apart from the stipend for SBI Apprentices?
SBI Apprentices may receive allowances such as Dearness Allowance (D.A.) and House Rent Allowance (H.R.A.) as per government rules. These allowances are provided in addition to the stipend.⭐Are there any deductions from the SBI Apprentice's stipend?
Yes, there are deductions from the stipend, including a Provident Fund (PF) deduction of 10% of the basic stipend amount (approximately Rs. 300) and income tax as per government rules.⭐What is the pay scale for SBI Apprentices as per the Apprenticeship Act 1961?
According to the Apprenticeship Act 1961, SBI Apprentices are placed on a pay scale of Rs. 15,000 - Rs. 19,000 during their one-year training cum probation as Executive Trainees in E-2 grade. The minimum basic pay is Rs. 15,000.