SBI Clerk – Salary,Perks & Allowances

Hello Friends,

State Bank of India (SBI), with a 200 year history, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Government of India is the single largest shareholder of this Fortune 500 entity with 61.58% ownership.

There are several perks associated with working with the biggest bank of India – SBI. One of the attractive features of SBI is one of the best-in-class entry level compensation package that SBI offers to its Junior Associates in Clerical Cadre

According to the SBI Clerk Notification, the total starting emoluments of a Clerical Cadre employee payable at a Metro like Mumbai will be around Rs. 20,950/-per month inclusive of Dearness allowance (D.A.) and other allowances. Allowances vary depending upon the place of posting of the employee.

Exposure:

With diverse business outfits that SBI operate in, State Bank of India provides abundant career scope and exposure to its employees in the areas of Agricultural Banking, Credit Rating, Marketing, Cross Selling, Forex and Treasury etc. After probation, SBI POs command a high market value in the banking industry.

Salary Structure

The salary structure of an SBI Clerk Junior Associate is:
11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540.

According to the SBI Clerk Notification, the total starting emoluments of a Clerical Cadre employee payable at a Metro like Mumbai will be around Rs. 23,600/-per month inclusive of Dearness allowance (D.A.) and other allowances. Allowances vary depending upon the place of posting of the employee.

Salary Allowances

SBI Clerk will be eligible for reimbursement of various perquisites, Provident Fund, Gratuity, Pension under New Pension Scheme (Defined Contribution Benefit Scheme), Medical, Leave fare and other facilities, as per the instructions of the Bank issued from time to time.

Some of the allowances that the SBI bestows on its Junior Associates in clerical cadre are:

– Dearness Allowance (DA): This allowance is revised on a quarterly basis in the months of February, May, August, and November. It is based on the Consumer Price Index (CPI) as declared by Government of India. When inflation is high, DA goes up and when inflation falls, DA goes down.

– House Rent Allowance (HRA): This allowance depends on the place of posting. Employees posted in metros like Mumbai, Delhi, etc. are given a better HRA in comparison to those posted in other cities.

– Junior Agricultural Associates will be eligible to get an additional amount, called Special Pay, of Rs. 490/- p.m. which is reckoned for DA, HRA and superannuation benefits.

– Apart from the above, SBI Clerk Salary also includes various perquisites like Furniture Allowance, House Maintenance Allowance, Books & Magazine Allowance, Briefcase Allowance, Reimbursement of Telephone Bills etc.

Perks

The different perks of being an SBI Clerk Junior Associate are: