Salary Structure of Public Sector Bank Clerks in India
The salary of Bank clerk based on the DA (as on May'2013)
Salary of clerks in most of the Public Sector Banks and some of the Private Banks( who agree to the bipartite settlement of Banks) is same. And last revision in the pay scale has taken place w.e.f November 1,2007.
Almost all the Public Sector Banks place the clerks in the following Pay-scale at the 1st stage of the grade.
Rs. 7200 - (400 * 3) - 8400 - ( 500 * 3) - 9900 - (600 * 4) - 12300 - (700 * 7) - 17200 - (1300 * 1) - 18500 - (800 * 1) - 19300
Initial Basic Pay of a clerk is Rs.7200/-. The figures in the brackets are the annual increment and the number of years they are applicable for. For example. Starting pay is 7200 in May,2013. Annual increment of Rs.400. i.e. in May,2014, basic pay will be 7200+400=7600. This will follow for 3 years. And after 3 years basic pay will be Rs.8400/- with annual increment of 500 for next 3 years and so on.
Other major allowances paid on monthly basis to a bank clerk:
1) DA (Dearness Allowance): DA in Banks revise on quarterly basis i.e. in the month of February,May,August and November based on CPI as declared by the Government of India. Current DA for the month of May'2013 is 84.15% of the Basic Pay. DA can go up with higher inflation or go down if the inflation is in negative. So DA will be around 84.15% of 7200 = 6058.8
2) HRA (House Rental Allowance) : This depends on the place of posting and it can either be 10%( Metro cities with population more than 45lakhs ) or 9%(population more than 12 lakhs including Goa) or 7.5% (population more than 5lakhs) or 7% (other places).
Total in hand salary including HRA ( if one does not avail leased accommodation) will be around like this:
For Metro Cities : 13978 (approx 14000)
For Places with 9% HRA : 13906.80
For places with 7% HRA : 13798.80
For other places : 13762.80
NEW UPDATE : 10th Bipartite settlement is due for Bank Staffs/employees since November 2012. After this is implemented, it is expected that salary at the entry level in the clerical post will be around 18-20k/month.