Bank Unions and Indian Bank's association signed an agreement to increase bank employees salary and allowances by 15%. The scale pay of Officers has been revised from Rs.14500 – Rs.52000 to Rs.23700 – Rs.85000.
For a newly recruited bank Probationary Officer,
Basic Pay = 23700
Dearness Allowance = 33.7% of Basic Pay = 7986.9
Basic Pay + Dearness Allowance = 23700 + 7986.9 = 31686.9
NPS Contribution = 10% of 31686.9 = 3168.69
Basic Pay + Dearness Allowance – NPS Contribution = 28518.21
Special Allowance = 7.75% of Basic Pay and Dearness Allowance = 7.75% of 31686.9 = 2455.73
House Rent Allowance = 7% of Basic Pay = 1659
Total = 28518.21 + 2455.73 + 1659 =
32632.94
Apart from this there can be other deductions like professional tax and for officers association. It depends on the bank and place of posting. Also there is City Compensatory Allowance for certain places. There can be higher hra (8% or 9%) based on place of posting.
So a newly recruited Probationary Officer can expect take home salary of 32250+