Bank Employees Salary Scales for Officers & Workmen

Information on Bank Employees Salary Scales for Officers & Workmen. 

As per the Bipartite Settlement, the Salary structure of bank employees in India gets updated Bank salaries for freshmen and officers are based on pay scales Check out the new pay matrix in  pay scales for private and PSB employees according to the new pay revision

Due to the nature of the job banking is considered a noble profession. To withhold the accounts of customers in respective accounts is their job 7th pay Commission of India has brought changes and reforms in employee salaries and these reforms are going to be implemented very soon

Pay Scales In Banks

Bank employee salaries are the same excluding the extra benefits given but the salaries of employees working in urban and rural areas have different salaries. Payscale depicts the calculation of working/non-working days, Holidays, and allowances

For the employees performing at the different levels some pay scale details for the bank, employees are given based on their locality and workload  and the employee payslip also shows the same

The newly revised wage revision is effective from01. 11.2021 has the following picture. For the bank employees working in PSB as well as private banks as per 11th BPS here is the pay scale detail for officers and workmen

Payscale Bank Workmen

AS per the new pay revision here is the revised pay scale and this is the clerk salary after Subordinate Staff and 11th bipartite settlement

Pay Fixation Pay Scale
Clerical Clerical for 20 Years
Pay Fixation 1 17900 – 1000(3) – 20900
  20900 – 1230(3) – 24590
  24590 – 1490(4) – 30550
  30550 – 1730(7)
Pay Fixation 2 42660 – 3270(1) – 45930
  45930 – 1990(1) – 47920
Subordinate Staff Subordinate Staff for 20 Years
Pay Fixation 1 14500 – 500(4) – 16500
  16500 – 615(5) – 19575
  19575 -740(4) – 22535
  22535 – 870(3)
Pay Fixation 2 25145 – 1000(3) – 28145

Revision Chart Bank Officers Wage

Pay Fixation Salary Scales
Scale1 36000 – 1490(7) – 46430
  46430 – 1740(2) – 49910
  49910 – 1990(7) – 63840
Scale 2 48170 – 1740(1) – 49910
  49910 – 1990(10) – 69810
Scale 3 63840 – 1990(5) – 73790
  73790 – 2220(2) – 78230
Scale 4 76010 – 2220(4) – 84890
  84890 – 2500(2) – 89890
Scale5 89890 – 2500(2) – 94890
  94890 – 2730(2) – 100350
Scale6 104240 – 2970(4) – 116120
Scale7 116120 – 3220(4) – 129000

These pay scales are according to the 11th Bipartite settlement

The new pay scale for officers and workmen is to be implemented from 01.11.2012 as per 11th BIpartite settlement is both for PSB and private banks employees

Under 11th Bipartite Government PSB’s

  • Bank of Baroda (Vijaya Bank & Dena Bank from 01.04.2019)
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank (Syndicate Bank from 01.04.2020)
  • Central Bank of India
  • Indian Bank(Allahabad Bank from 01.04.2020)
  • Indian Overseas Bank
  • Punjab & Sind Bank
  • Punjab National Bank (Oriental Bank of Commerce & United Bank of India from 01.04.2020)
  • UCO Bank
  • Union Bank of India (Andhra Bank & Corporation Bank from 01.04.2020)
  • State Bank OF India (State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore)

Under 11th Bipartite Private Banks

  • IDBI Bank
  • The Catholic Syrian Bank Ltd
  • The Dhanalaxmi bank Ltd
  • The Federal Bank Ltd
  • Kotak Mahinda Bank
  • Jammu Kashmir Bank
  • Karnataka Bank Ltd
  • Karur Vysya Bank Ltd
  • Lakshmi Vilas Bank Ltd
  • Nainital Bank Ltd
  • Ratnakar Bank Ltd
  • South Indian Bank Ltd
  • Bank of America
  • The Bank of Tokyo Mitsubishi UFJ Ltd
  • BNP Paribas
  • Citibank NA
  • The Hongkong & Shanghai Banking Corporation Ltd
  • Sonali Bank
  • Standard Chartered Bank

Based on all three categories of net salary calculation bank employee payslip has earned, deductions, and benefits section. The salary is given to the employee’s bank account and completely tax-free as to taxation on credited salary

Salary Of Bank Employees

  • Dearness Allowance:     Based on the consumer price index changing quarterly DA is calculated DA is 46% of the basic salary on average
  • City Compensatory Allowance: The allowance is decided by the bank based on the employee’s working area
  • Leased House Rent Allowance: HRA is different based on localities in which employees live and is directly added to the salary
  • Travel Allowance: Based on the working grade TA is initiated and decided by the bank
  • Furniture Allowance: During the initial setup eligibility of SBI PO is 1.2 lakhs as furniture allowance

Salary Benefits

These are the extra benefits added to employees salary based on scale or grade of work of the employee This vary with time and work experience

  • Newspaper allowance
  • Books allowance
  • Magazines Allowance
  • House Maintained Allowance
  • Telephone Bill reimbursement
  • Employee and Family medical allowance

Concession in interest rates is given to bank employees in case they apply for any kind of loan

Salary Deductions

All the mentioned expenses are deducted from the salary of the employee before it is credited thus making the salary interest free

  • Tax Deduction: In the deduction column, the applied tax on the total salary is mentioned
  • Medical Claim Allowance: As per the selected plan medical claim allowance is deducted annually
  • EMI is deducted in case the employee has taken any loan from SBI

For Workmen Bank Employees Pay Scales In India

  • Clerical Staff
Pay Fixation 1 11765 – 655/3 – 13730 – 815/3 – 16175 – 980/4 – 20095 – 1145/7
Pay Fixation 2 28110 – 2120/1 – 30230 – 1310/1 – 31540 – 20 Years
  • Subordinate Staff
Pay Fixation 1 9560 – 325/4 – 10860 – 410/5 – 12910 – 490/4 – 14870 – 570/3
Pay Fixation 2 16580 – 655/3 – 18545 – (20 Years)
  • Pay Scales For Bank Officers In India From 01.11.12
Scale 1 23700 980/7 30560 1145/2 32850 1310/7 42020
Scale 2 31705 1145/1 32850 1310/10 45950    
Scale 3 42020 1310/5 48570 1460/2 51490    
Scale 4 50030 1460/4 55870 1650/2 59170    
Scale 5 59170 1650/2 62470 1800/2 66070    
Scale 6 68680 1960/4 76520        
Scale 7 76520 2120/4 85000        

These pay scales for bank officers have been revised from1st November 2012 and is mutually agreed for Public banks as well as some of the private banks which have accepted the 11th Bipartite Settlement

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