Punjab and Sind Bank Clerk Pay Scale

Can you tell me about the pay scale for the post of Clerk in Punjab and Sind Bank which makes its recruitment through Institute of Banking Personnel Selection (IBPS)?

[shikha]

The pay scale for the post of Clerk in Punjab and Sind Bank which makes its recruitment through Institute of Banking Personnel Selection (IBPS) is as follows:

IBPS Clerk Pay Scale and Perks 2017:

Facilities Places with Population > 45 lakhs Below 45 Lakhs
Basic Pay Rs.11765/- Rs.11765/-
Special Allowance Rs.911.79/- Rs.911.79/-
DA Rs.5311.58/- Rs.5311.58/-
CCA Rs. 0/- Rs. 0/-
Transport Allowance Rs.425/- Rs.425/-
Total (without HRA) Rs.18413.37/- Rs.18413.37/-
HRA Rs.1176.5/- Rs.1058.85/-
Gross with HRA Rs.19589.87/- Rs.19472.22/-

IBPS Clerk New Salary Scale:

Grade Existing Basic Pay Revised Basic Pay Annual Increment – New

Starting Closing Starting Closing
Clerk Rs. 11765 31540 30000 68900 1500/3 – 1900/8 – 2400/8


Clerk Salary and other Allowances:

Dearness Allowance (DA):

In Bank, DA is revised quarterly and is based on CPI as declared by the banks i.e. DA can go up with higher CPI and vice versa.

House Rent Allowance (HRA):

This varies according to Clerk’s place of posting. And it can be 8.50%, 7.50% and 6.50% depending on metros, big cities, and other locations.

Medical Allowance:

This allowance is paid annually. And for a clerk, it is fixed at Rs 2000.

Transport Allowance (TA):

It is also an additional amount on IBPS Clerk take home salary. IBPS Clerk cash in hand salary: Rs 19,461.


IBPS Clerk Salary after 11th Bipartite Settlement:
 If the Indian Banks’ Association (IBA) agrees for 20% increment, Final Basic Pay will be Rs.15, 374. So, you obtain total 38.80% of DA & HRA on Basic Pay. So, total Gross Salary of Bank fresher Clerk will be Rs.21, 339/- (Worst Possible Scenario)
 If IBA agrees for 25% increment, Final Basic Pay will be Rs.16,015.So, total Gross Salary of Bank fresher Clerk will be Rs.22,228/- (Somewhat Good)
 If IBA agrees for 30% increment, Final Basic Pay will be Rs.16, 655. So, total Gross Salary of Bank fresher Clerk will be Rs. 23,117/- (Good Settlement).

Increment (%) Basic Pay Total Gross Salary
15% Rs.14,733/- Rs.20, 450/-.
20% Rs.15,374/- Rs.21,339/-
25% Rs.16,015/- Rs.22,228/
30% Rs.16,655/- Rs.23,117/-


Clerk Salary After Revision:
 After the 11th Bipartite Wage Settlement of 2015, a bank clerk is entitled to take a pay scale of Rs 21,990 within hand salary of Rs 19,461.
 With the Govt. setting up the stage for 11th wage revision talks, now IBA & Employee union associations must start the formal process.

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