IBPS PO is one of the most sort after banking jobs in the country. The job comes with a. Attractive salary package that is the primary reason for many candidates to apply for this post. Today in this article we’ll discuss the IBPS PO Salary, perks and allowances. The reason behind such high salaries in banking sectors and IBPS PO is that they don’t follow the 7th pay commission. Banks follow bipartite settlement to assess and revise the IBPS PO salary. Today you will get to know how much salary a probationary officer can get after clearing IBPS PO exam and getting a job in one of the 11 participating banks of IBPS. Based on 11th bipartite agreement November 2020 the salary of IBPS PO has been updated. The basic pay of an IBPS PO joinee is 36000 rupees. Moreover in this article you’ll find much more information about the salary structure, job profile, career, allowances and promotion in the IBPS PO.
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IBPS PO Salary 2024
Below we have presented the revised salary structure of the IBPS PO as per the 11th Bipartite agreement in November 2020.
| IBPS Bank PO Salary Structure in India | |
| Basic Pay | Rs. 36,000 |
| Special Allowance | Rs. 5,904 |
| Dearness Allowance | Rs. 8,593.20 |
| CCA | Rs. 1,400 |
| Learning Allowance | Rs. 600 |
| DA Others | Rs. 1,552.50 |
| Housing Rent Allowance | Rs. 3,240 |
| Gross Salary | Rs. 57,289.70 |
| Deduction (Tax & NPS) | Rs. 4,659.32 |
| Net Salary | Rs. 52,630.38 |
IBPS PO In-hand Salary
The starting salary for IBPS PO is INR 52000 to 55000. This also includes Dearness Allowance, House Rent Allowance, Travel Allowance and other perks. After deductions the IBPS probationary officer gets around 52000 to 55000 per month.
IBPS PO Salary in India after the Bipartite Settlement
Until the new revision comes the 11 Bipartite system would continue to define the salary of the IBPS PO. The 12 th Bipartite system is supposed to come in 2024. Below is the complete current package for the IBPS PO. IBPS PO Salary- Perks & Allowances
| IBPS PO Allowances | |
| IBPS PO Basic Pay | Rs 36,000/- ( Increment in 4 stages) |
| House Rent Allowances | 7%-9% of the basic pay |
| Dearness Allowance | 23.87% of the Basic Pay (Varies based on inflation rates) |
| City Compensatory Allowance (CCA) | 3% or 4%(depending on the place of posting) |
| Special Allowance | 7.75% of the basic pay |
IBPS PO House Rent Allowance (HRA):
The house rent allowance for the IBPS PO officer depends on the city that he or she is posted in. The HRA is divided into three slabs: 9%, 8% and 7%. Independence on the type of the cities and size the officers allotted the HRA.
IBPS PO Dearness Allowance (DA):
The dearness allowance is given to all Government employees and IBPS PO are not different from them. It is a certain percentage of their salary which is revised after every three months based on the consumer price index data.
So this was all about the salary of the IBPS PO personnel. For all those candidates who want a career in the banking sector IBPS PO provides a beautiful opportunity.