IBPS Clerk Salary Structure 2016 – Allowances, Remuneration, CTC & Other Benefits| IBPS Clerk Pay Scale
IBPS Clerk Salary Structure
IBPS conducts the Clerical exam in November (prelims) and December or January (mains) every year. A large number of candidates attempt these exams. In the year 2015 alone, more than three million job seekers applied for the same. Therefore an important and most asked question from the candidates is: What is IBPS Clerk Salary Structure? In whichever career they may be, but every person wants their job to be enriching for them. The latest IBPS Clerk Salary Structure 2016 covers a vast spectrum of details like IBPS Clerk Salary, incentives, IBPS Clerk Pay Scale & perks and other benefits. IBPS Clerk Allowances also form a significant part of the salary.
The IBPS Clerical exam takes place for the post of Clerk in a number of banks listed above. In our other articles we have explained about IBPS Clerk Exam Pattern, previous cut-offs & Results. We have explained them & a lot more in appropriate sections below.
IBPS Clerk Salary Structure 2016 | Will you be paid enough?
IBPS Clerk Salary | IBPS Clerk Pay Scale | IBPS Clerk Allowances
If you are looking for the details of IBPS Clerk Salary Structure 2016, then you have landed in the right place. We have explained the complete details of IBPS Clerk Pay Scale in our IBPS Clerk Salary Structure section such as the in hand salary during training & afterwards, allowances like TA/ DA/ HRA, accommodation & medical benefits, increment and a lot more. In addition we have explained in detail about IBPS Clerk Salary as you go up in the corporate ladder.
So let us begin by explaining the pay scale of a Clerk.
IBPS Clerk Pay Scale | During Probation & After Promotion
The clerical candidate after induction undergoes initial training. After a successfully completing the training, the clerical candidate is posted as a Clerk in the public sector bank. Yes, it is a job below officer scale and includes many areas of duty and responsibility. Below we have explained the IBPS Clerk Pay Scale for 2016-17. Please may a note that many Clerks are promoted to the post of Officer on the basis of their performance. It may happen in time as less as one year. So be optimistic and the pay scale of your salary may just shift gears swiftly.
IBPS Clerk Pay Scale (after probation period)
|Grade||Existing Basic Pay||Revised Basic Pay||Annual Increment – New|
|Clerk||Rs 11765-31540||Rs 30000-68900||1500/3 – 1900/8 – 2400/8|
While salaries in most of the cities are same but they may differ in metro cities and small cities depending on the bank & its location. Moreover as you get promoted (it is best if into Officer Grade) your pay scale increases well in proportion with the concerned grade or scale. Finally on observing you can conclude IBPS Clerk Pay Scale is quite competitive to other jobs and satisfying at the same time.
Following table reveals the expected hike in wages after Tenth Bipartite Settlement and permission of Indian Bank’s Association.
|Increment||Basic Pay||Gross Salary|
|15%||Rs 14733||Rs 20450|
|20%||Rs 15374||Rs 21339|
|25%||Rs 16015||Rs 22228|
|30%||Rs 16655||Rs 23117|
IBPS Clerk Allowances | Perks and other Benefits
During the period of raining and always thereafter the IBPS Clerk Allowances are given in addition to the salary. Apart from IBPS Clerk Allowances many other benefits and facilities have been described below.
1) Dearness Allowance (DA): It is the cost of living adjustment allowance at a location. It is revised quarterly based on Consumer Price Index (CPI). Calculation of DA depends on inflation.
2) House Rental Allowance: HRA can be either 9.0% or 8.0% or 7.0% depending on the place of posting.
3) Special Allowance: This will add in 10th Bi-Partite Settlement on which DA is also payable
4) Conveyance Allowance: It is pay for commuting between home and office.
5) CCA: This can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0% depending on the place of posting.
6) The combined in hand salary is around Rs 19461 per month.
Some perks & other benefits in addition to IBPS Clerk Allowances
In addition to IBPS Clerk Allowances there are some other perks & benefits as given below.
1) Leased Accommodation – This facility is available to Bank Clerk in place of HRA as per availability.
2) Traveling Allowance – Few banks provide fixed Traveling Allowance whereas others allow reimbursement of petrol bills.
3) Medical Aid – A fixed annual amount is paid by most of the banks for the medical benefit of the employee Clerk. For a Clerk it may be Rs 2000.
IBPS Clerk Salary | Salary in hand during training & afterwards
Inclusive of IBPS Clerk Allowance in IBPS Clerk Pay Scale
The table below explains the in hand salary including DA, HRA, SA etc.
IBPS Clerk Salary Structure 2016
|Total (without HRA)||18413|
|Gross Monthly CTC (with HRA)||Rs 19589|
The in hand salary of a Clerk in two different brackets is given as follows.
|Facilities||Places with Population above 4.5 million||Below 4.5 million|
|Basic Pay||Rs 11765||Rs 11765|
|Special Allowance||Rs 911||Rs 911|
|DA||Rs 5311||Rs 5311|
|CCA||Rs 0||Rs 0|
|Transport Allowance||Rs 425||Rs 425|
|Total (without HRA)||Rs 18413||Rs 18413|
|Gross with HRA||Rs 19589||Rs 19472|
In the end it can be concluded that the salary obtained in this job is as satisfying as the job itself. It’s an endeavor if you happen to be a bank Clerk. Good Luck for the journey ahead!
We hope that we have helped you clear most of your doubts and queries regarding IBPS Clerk Salary Structure 2016, IBPS Clerk Salary, incentives, CTC, remuneration, IBPS Clerk Pay Scale & perks and other benefits, etc. If you still have any doubts about IBPS Clerk Salary & IBPS Clerk Allowances you may ask below.
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