Read unofficial details of SBI PO Salary 2022: Check In-Hand, Salary, Salary Slip, Promotion & Perks on e akhabaar. We have taken this Salary data from People Employed in the organisation.
The basic salary for a State Bank of India Probationary Officer (SBI PO) is Rs 41,960. According to the modified Bipartite Settlement, a Probationary Officer’s salary is 36,000-1490/7-46430-1740/2-49910-1990/7-63840, with four advance increments.
SBI PO Salary 2022
An SBI Probationary Officer’s starting basic salary is Rs 41,960. According to the amended Bipartite Settlement, the salary of a Probationary Officer is 36000-1490/7-46430-1740/2-49910-1990/7-63840 with four advance increments. It means that the PO will receive a basic salary of Rs 36000 with an annual increment of Rs 1490 for the following seven years, followed by a basic salary of Rs 46430 with an annual increment of Rs 1740 for the next two years, and so on. The maximum basic pay is Rs 63840.
SBI PO Salary Structure
Candidates interested in the position of SBI Probationary Officer should be aware of the salary structure for this post:
|Basic Pay||Rs. 41,960|
|Special Allowance||Rs. 6,881|
|Location Allowance||Rs. 700|
|Learning Allowance||Rs. 600|
|Gross Salary||Rs. 65,780|
|Deduction (PF/Income Tax/Professional Tax/Pension)||Rs. 12,960|
|Net Salary||Rs. 52,820|
What is SBI PO In-Hand Salary?
The starting salary of an SBI PO is between Rs. 52000 and Rs. 55000 per month, with a basic compensation of Rs. 41,960. The annual gross compensation ranges from Rs. 8.20 lakhs (minimum) to Rs. 13.08 lakhs (highest). In addition to base pay, SBI Probationary Officers are eligible for Lease Rental/ HRA, DA, Medical, CCA, and other allowances. The fee fluctuates depending on where the job posting is located.
Starting Salary of SBI PO Officers and Increment
In the first year, an SBI PO officer will get a basic pay of Rs 36000. For the first 7 years, the officer will get an increment of Rs. 1490. In the next two years, the officers will draw a salary of Rs. 46430 and get an increment of Rs. 1740. For the next 7 years, the officer will get a salary of Rs. 49910 and get an increment of Rs. 1990. Following this period, the candidates will get a salary of Rs. 63840.
SBI PO Salary Increment
|Basic Pay||Rs 41,960 (Increment in 4 stages):|
|1st Increment||Rs. 36000-1490/7|
|2nd Increment||Rs. 46430-1740/2|
|3rd Increment||Rs. 49910-1990/7|
|4th Increment||Rs. 63840|
SBI PO Allowances
SBI POs are eligible for benefits such as DA, HRA/Lease Rental, CCA, Medical and other allowances and perquisites as per the rules in force from time to time. Location and other factors impact the annual salary amount drawn by an SBI PO officer. Refer to the below table to know the salary, allowances and increments received by an SBI PO officer:
|Dearness Allowance||26% of the Basic Pay|
|City Compensatory Allowance||3% – 4% depending on location|
|House Rent Allowance||7% – 9% depending on the Place of Posting|
|Furniture Allowance||Rs. 1,20,000|
|Medical Insurance||100% covered for employees | 75% covered for dependent family|
|Travelling Allowance||AC 2-tier fare is reimbursed to the employee for official travels|
|Petrol Allowance||Rs. 1,100 – 1,250|
|Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.||Varies based on Cadre|
SBI PO Perks
Along with the handsome and lucrative in-hand salary, SBI POs also enjoy the following perks and benefits:
- Contribution Pension Scheme/New Pension Scheme.
- Medical Aid for self (100%) and for family (75%).
- Home Travel Concession/ Leave Fare Concession.
- Concessional interest rates for Housing/Car/Personal Loans.
SBI PO Salary Deduction
While knowing the in-hand salary of an SBI Probationary Officer is important for applicants filling out the application form, paying attention to the deduction in the salary is also worth it. After candidates are shortlisted as SBI POs, they will get a monthly in-hand salary; however, some amount from their overall income is deducted.
These deductions could be income tax, professional tax (PT), or others. Take a look to find out more:
Deduction in SBI PO Salary
|Provident Fund (PF) Contribution||Rs 4,196|
|Income Tax (IT)||Rs 3,290|
|Contributory Pension Fund||Rs 5,274|
|Professional Tax (PT)||Rs 200|
|Total Deductions||Rs 12,960|
What Benefits are Provided apart from SBI PO Salary 2022?
Apart from the allowances mentioned above, an SBI PO candidate also gets the following benefits:
- Medical Insurance (100 per cent for SBI PO and 75 per cent for family members)
- Cashless Treatment in selected medical facilities around the country
- Newspaper Allowance
- Books and magazines allowance
- Petrol allowance
- House maintenance allowance
- Telephone bill reimbursement
- Entertainment allowance
- Leave Fare Concession/Home Travel Concession
- Concessionary interest rates for House Loan, Car Loan, and Personal Loan