What will be the New Salary of PO after Wage Revision of 15 % in Banks?



What will be the New Salary of PO after Wage or salary Revision of 15 % in Banks?

Today (23-02-2015) Unions in banking sectors and Indian Bank's Association (IBA) agreed on increasing pay slip salary component by 15 Percent.
 
 As wage revision (10th Bipartite settled at 15 % hike. So, following would be the New pay structure of newly joined Probationary Officer (PO) Salary and the officer who are in first year of Probation period. 

Also Read:Second and Fourth Saturday of the Month will be a Holiday

We have considered on the basis of formula which are used in wage settlement process.

New Salary of PO after Wage/salary Revision of 15 % in Banks 

New Salary of PO after Wage Revision in Banks
Present Hike
15%
Corresponding  Basic
23700
Current Basic
14500
Current DA % 109.8
15921
Corresponding   Revised DA % (33.7) + Special Pay
 8606+1837 
Current HRA % 6.5
942.5
Corresponding  HRA % (7.475)
 2133
Current Gross Salary
31364
Corresponding  Gross Salary
 36276

Current NPS Contribution
3042.1
Corresponding  Revised NPS Contribution
 3414.3
Current Net Salary
28321
Corresponding   Revised Net Salary
 32862

Effective from November 2014 and revised will be paid from June 2015 Onwards

The revised basic pay has been derived by merging 60.15 % of DA in to current Basic Pay and then adding your expected hike on the whole amount (Current basic+60.15% of current basic)

Apart from this every second and fourth Saturday of the month will be holiday, and the other Saturdays will be full working days.  

Disclaimer: We have not consider the 2 % Load factor. So, All the outcome of salary Calculation is approximately basis. 


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Anonymous
admin
February 25, 2015 at 9:58 PM ×

Like to know what will be the SBI clerk salary for the newly appointed employee after this wage revision of 15% ??

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Anonymous
admin
February 26, 2015 at 11:15 AM ×

Peanut salary

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March 1, 2015 at 1:45 AM ×

any benefits for RETIREES?

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March 1, 2015 at 1:47 AM ×

IT IS UNBECOMING OF IBA OF NOT CONSIDERING THE INTERESTS OF RETIREES IN TANTUM

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Anurag Joshi
admin
April 4, 2015 at 4:41 PM ×

Respected Sir,
I have got a job as Auditor in CGDA and PO in PNB.What should I join ?
Also I want to ask that whether it is good to join Assitant Section Officer in Central Secretariat Services over Bank PO,as I am getting good score and will most probably qualify for CSS.
Waiting for your reply
Thank you and best regards.
Anurag Joshi

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Anonymous
admin
May 7, 2015 at 6:19 AM ×

auditor in cgda anytime better ...

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Anonymous
admin
July 30, 2015 at 9:47 AM ×

I got CBDT tax assistant and bank po, what should I prefer

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Khem Verma
admin
August 2, 2015 at 5:45 AM ×

Tax assistant is best

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Anonymous
admin
August 5, 2015 at 3:59 AM ×

if u want to make your life decision base on some anonymous advice, god help you

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Anonymous
admin
April 17, 2016 at 10:25 AM ×

Hi, I m n ex servicemen, I want to join TA CBDT but, in bank as clerk we have pay protection... normally starts with above 40K... I m preparing 4 both, please suggest me what will be better?

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