Saturday, 20 August 2016

IBPS Clerk Salary 2017 | 7th Pay Commission, New Pay Scale, Structure

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IBPS Clerk Salary

IBPS Clerk Salary 2017: How the 7th Pay Commission can affect New IBPS Clerk Salary? Check to Know!!! Institute of Banking Personnel Selection is an independent association in India and it conducts Common Written Examination (CWE) for the recruitment of Officers and Clerks in Indian banks. Candidates who are planning to apply for IBPS Clerk Post first they should know IBPS Clerk Salary Structure. Here you may get the complete details regarding the IBPS Clerk Pay Scale along with Allowances and other benefits etc from the below section page.
IBPS Clerk Salary
Salary structure of bank employees is revised and increment as per IBA 11 Bipartite Settlement. As lot of candidates getting queries regarding salary of Clerk, here we have provided the detailed manner of salary structure of Institute of Banking Personnel Selection Clerk posts. Check the below section for more details regarding IBPS Clerk Scale of Pay after revision. Please have a look below!!!

Read This Notification: IBPS Clerk Recruitment 

IBPS Clerk Salary

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

The Institute of Banking Personnel Selection appoints the qualified candidates on the post of clerk in different public sector banks and other financial institution. All the banks have their different salary scale as per their norms, but with the government guidelines or according to the 7th Pay Commission, candidates will get the increment in their basic pay scale which is provided above. Along with basic pay, the bank clerks also get various allowances and benefits which can be checked from this page.


These allowances are provided on regular basis that is along with monthly salary. Each allowance has its specific advantage that adds a plus in the employee salary. To know all the allowances and its details, candidates must check out this section carefully.

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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.
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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.
Salary Increment + Promotions

Candidates who wish to be appointed as a clerk through IBPS Examination in different public sector banks the firstly need to clear the exam and then they will get the impressive amount of salary by the banks along with timely promotions and benefits. Clerk is the entry level position in any bank and after appointment, as candidates get experience of working or their daily schedules, they will get huge opportunities to prove their work qualities that can provide promotion to them and can also help them to reach the senior post.

Candidates can get the promotions on below mentioned scales as per their performance or according to the hierarchy level of bank promotions:

Scale 1 – Officer / Assistant Manager
Scale 2 – Manager
Scale 3 – Senior Manager
Scale 4 – Chief Manager
Scale 5 – Asst. General Manager
Scale 6 – Deputy General Manager
Scale 7 – General Manager

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IBPS Clerk Salary Structure after 7th Pay Commission:

With the implement of 7th Pay Commission there is great hike in the bank employee’s salary whether they work on clerk position or on the manager position. The 7th Pay Commission is proved good to all and provides increment in the basic salary as well as in monthly allowances. All the public sector bank’s clerks now get the excellent salary package by the government with improved rates.

Benefits of IBPS Clerk

Candidates who are appointed as clerk through IBPS they get the additional benefits with the monthly salary by the banks as follows:
  • Employee Discount
  • Job Training & Tuition
  • Free Lunch or Snacks
  • Performance Bonus
  • Vacation & Paid Time Off
  • Sick Leave and others
  • Along with these Benefits the clerks also get more advantages as per Bank’s policies and rules. 
IBPS Clerk Updates

We will keep updating this page with latest information about IBPS Clerk Salary, so don’t go anywhere for latest updates. If you have any query or suggestion regarding the same then are most welcome to ask it freely by writing us in the below mentioned comment box and our experts with respond you with satisfactory reply as soon as possible.

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