Bank Of Baroda Salaries
Increment in PO/Clerk/SO Salary Structure….! Candidates who are interested in knowing the Bank Of Baroda Salaries they can get entire information from this page. As we have provided latest BOB salaries details regarding PO, Clerk or Specialist Officer Posts along with their Perks & Allowances offered to them. Bank Of Baroda offers good and satisfied salary package to its freshers candidates or also increase the salary time to time. Job entrants who are willing to get job in Bank Of Baroda are curious to know about BOB Salaries for getting answer of this question, you’re advised to go through this page and get complete details about latest Bank Of Baroda Salaries.
Do you know Bank of Baroda is the second largest bank of India as it comes after State Bank Of India, it is an Indian state-owned International banking and financial services which have headquartered in Vadodara in Gujarat, India. So Let’s Check Revised Bank Of Baroda Salary Structure from this page which is well modified by the hard working team members of www.resultinbox.com.
Bank Of Baroda Salaries
Typical Salary Structure of a Bank PO – Entry Level (Indicative):
in Area I
|Metro Cities||(State Capital etc.)||(District Level
and Rural Areas)
|Dearness Allowance @ 99.9%||14485.5||14485.5||14485.5|
(3% to 4% Max. Rs 540/-)
(Excluding HRA i.e. if Leased Accommodation is availed by the officer)
|Rs 29525.5||Rs 29360.5||Rs 28985.5|
|HRA – 8.5% ; 7.5%; 6.5%||Rs 1232.50||Rs 1087.50||942.50|
(Including HRA i.e. if officer does not avail leased accommodation)
|Rs 30758.0||Rs 30448.0||Rs 29927.5|
Check Here: Latest Bank Jobs
Typical Salary Structure of a Bank Clerk – Entry Level (Indicative):
|Particulars||Places with population||Places with population||Places with population||Other Places|
|of more than 45 lakhs||of more than 12 lakhs||5 lakh and above, State Capitals / UT etc|
|HRA – 10 ; 9%; 7.5%,7%||720.00||648.00||540.00||504.00|
|Total Salary (including HRA )||14842.80||14770.80||14662.80||14626.80|
Bank Of Baroda Salaries
|Specialist Officer Scale I||Rs. 5,01,840/-|
|Rs. 3, 89, 444/- (Average Pay Scale)|
|Officer Scale I||Rs. 33,750/-|
|Officer Scale I||Rs. 4,68,318/-|
|Computer Operator||Rs. 4,52,125/-|
|Assistant Manager||Rs. 4,27,500/-|
|Computer Operator||Rs. 41,568/-|
|Branch Manager||Rs. 36,435/-|
|Specialist Officer Scale I||Rs. 39,064/-|
|Manager Credit||Rs. 38,986/-|
|Manager Credit||Rs. 6,07,632/-|
|Credit Officer||Rs. 37,478/-|
|Single Window Operator||Rs. 44,780/-|
Allowances Offered By BOB:
There are numerous benefits that are offered to Specialist Officers and many other managers such as Dearness Allowances, House Rent Allowances, Travelling Allowances Travelling Allowances, Medical Benefits, Bonus and Provident Funds etc., have a look on each of them in detail:
In addition to salary, bank also offers good amount of Dearness Allowances to all government employees as cost of living adjustment. It is calculated as a percentage of an employee’s basic salary to alleviate the impact of inflation on people. Currently DA rate is 99.9% of Basic Salary.
Read Here: Private Banks Vs Government Banks
House Rent Allowances:
HRA is also is included in the salary structure of employees but those, who are having their own houses, can’t claim for HRA here House Rent Allowances consist of Accommodation rent. Check out proper distribution of HRA from below table.
|i)||Major “A” Class Cities and Project Area Centers in Group A||8.5 % of Pay|
|ii)||Other places in Area I and Project Area centers in Group B||7.5 % of Pay|
|iii)||Other Places||6.5 % of Pay|
This allowance mainly offered to Specialist Officers along with the salary paid to them which is basically travelling charges from home to office and same for office to home charges.
Specialist Officers post is not cool just because of its work but also for the different types of expenses paid to them as another one is Medical Allowances. They are paid medical debits per month as well as Medical and Health Insurance too.
This allowance only distributed to employees when they work with proper quality and quantity as required by the organization, you can also say that it will totally depend on some occasion or according to their performance. Any employee can’t claim for Bonus.
Check Now: Career In Banking Sector
This allowance basically offers when the officer leaves the bank he/she gets the amount collected by him/her and employer per month in the form of Provident Funds or some of the purposes of PF’s given in below table along with the Limit for non refundable withdrawal of Provident Fund:
|Purpose||Limit for non refundable withdrawal of Provident Fund|
|For meeting the expenses in connection with the marriage of children||-6- months grow salary subject to maximum of 50% of Member’s own contribution towards PF/VPF|
|For meeting the cost of Higher Education of dependent children||Estimated expenses for complete course or 50% of Member’s own contribution towards PF/VPF(which is less)|
City Compensatory Allowance:
|i||Places in Area I and in the State of Goa||4 % of Basic Pay||Rs. 540 /- p.m.|
|ii||Places with population of five lakhs and over and State Capitals and Chandigarh, Pondicherry and Port Blair||3 % of Basic Pay||Rs. 375/- p.m.|
You Can Also Check: Bank PO Salary
FPP as indicated in “C” above shall be payable to those officer employees who are provided with bank’s accommodation on and from 1st November 2007 FPP together with HRA shall be at the following rates and shall remain frozen for the entire period of service.
|Increment component||D.A. As on 01.11.2007||Total FPP payable where bank’s accommodation is provided|
Professional Qualification Pay
Bank also offers Professional Qualification Pay which is denoted as POQ to all employees as under:
- Those who have passed only CAIIB – Part I / JAIIB will get Rs. 410/- p.m. one year after reaching top of the scale
- Those who have passed both parts of CAIIB will get Rs. 410/- p.m. one year after reaching top of the scale and Rs. 1030/- p.m. two years after reaching top of the scale
Mid Academic year transfer allowance
W.e.f 01.05.2010 it is payable @ Rs.700/- per month subject to other conditions.
On and from 1st May 2010, Deputation Allowance shall be at the following rates :
- An officer deputed to serve outside the bank – 7.75% of pay with a maximum of Rs2300/- p.m.
- An officer deputed to an organization at the same place or to the training establishment of the bank – 4% of Pay with a maximum of Rs 1200/- p.m.
Hill and Fuel Allowance
|a||Place with an altitude of 1000 meters and above but less than 1500 meters and Mercara Town||2% of Pay subject to a maximum of Rs 550/- p.m.|
|b||Place with an altitude of 1500 meters and above but less than 3000 meters||2.5% of Pay subject to a maximum of Rs 680/- p.m.|
|c||Places with an altitude of 3000 meters and above||5% of Pay subject of a maximum o Rs 1570/- p.m.|
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Project Area Allowance
Project Area Compensatory Allowance shall be payable at the following rates:
- Project Areas falling in Group A – Rs 290/- p.m.
- Project Areas falling in Group B – Rs 255/- p.m.
Split Duty Allowance
- Split Duty Allowance shall be payable at Rs 165/- p.m.
New Pension Scheme
Under this New Pension Scheme, the current allocation of the fund is in proportion of 35%, 33%, and 32% respectively, whereas employees exit or after 60 years of age from Tier I Fund will get 40% of Pension Wealth Fund mandatory for investment on exit. To leave the scheme before 60 years of age, 80% of the Pension Wealth Fund is mandatory for investment. The maximum equity exposure is restricted to 15%.There will be three Pension Fund Managers namely:
- LIC Pension Fund Limited
- SBI Pension Fund Limited
- UTI Retirement Solutions Limited
Bank of Baroda provides an impressive amount of salary structure and also a secure future to its employees. It is also one of the reputed banks that provide a good salary and other allowances to its employees. Stay tuned with this web portal of www.resultinbox.com to grab latest updates related to Bank of Baroda Salaries.
Check Below Given Links
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