Understanding the salary structure is an important aspect for candidates preparing for SBI Clerk 2024 recruitment. The SBI Clerk position not only offers a stable and prestigious career but also offers an attractive salary package, which includes an impressive in-hand salary, a comprehensive job profile, and a variety of perks and allowances. This article provides information about the detailed SBI Clerk salary structure 2024, ranging from monthly income to various benefits and responsibilities, to what a candidate should expect as an SBI Clerk.
SBI Clerk Salary Structure 2024
SBI Clerk in-hand salary is the amount an employee receives after deductions such as Provident Fund (PF), Professional Tax and Income Tax. The in-hand salary may vary depending on individual deductions and allowances. SBI Clerk salary varies according to the place of posting of the candidate. The given table contains the SBI Clerk salary structure covering various components.
| SBI Clerk Salary Structure | |
| Constituent | amount |
| Basic Pay (including 2 annual increments) | 19,900.00 |
| Dearness Allowance (46.5%) | 9.253.50 |
| House Rent Allowances | 2,091.00 |
| Transport Allowance | 600.00 |
| Special Allowance | 3,263.00 |
| Special Pay | 500.00 |
| gross pay | 35607.50 |
| Cuts | 3,043.00 |
| Total Payment | 32,564.50 |
SBI Clerk Mains Score Card 2024 Released- Check Here
SBI Clerk Mains Cut Off 2024 Released- Check State-Wise Cut Off Here
SBI Clerk in hand Salary
The in-hand salary of an SBI Clerk in a metropolitan city like Mumbai would be around Rs 37,000 per month This includes dearness allowance and other allowances at current rates and two additional increments for newly appointed junior associates. pay scale SBI Clerk 2024 Salary is Rs.17900-1000/3-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. Candidates can refer to this article to get complete details regarding the salary.
SBI Clerk Latest Salary Slip
Candidates must understand the nuances of SBI Clerk salary after 11th Bipartite Agreement. For complete details, candidates can check the latest salary slip of SBI Clerk which includes basic pay and allowances. When you combine the basic pay with perks and allowances, it gives you the total gross salary. The latest salary slip of SBI Clerk for August 2022 is given below.
SBI Clerk Salary Cuts 2024
SBI deducts a variety of deductions from the gross salary of its employees like professional tax etc. These deductions are mainly statutory and are considered for calculating income tax. Candidates can check the deductions listed below.
| SBI Clerk Salary Cuts 2024 | |
| Cuts | amount |
| Professional tax | 209 |
| pension fund | 2,834 |
| Total | 3,043 |
SBI Clerk Salary Hike 2024
SBI employees are entitled to annual increments as per the pay scale provided by SBI. Candidates should note that there will be significant revisions in the salary structure for SBI Clerk posts from time to time. These revisions are aimed at ensuring competitive compensation for employees in sync with current market standards and internal policies.
| SBI Clerk Salary Hike 2024 | |||
| Basic Pay | Salary increment | Duration | years of service |
| ₹ 17,900 | 1000/- | For 3 years | 03 |
| ₹ 20,900 | 1230/- | for the next 3 years | 06 |
| ₹ 24,590 | 1490/- | for the next 4 years | 10 |
| ₹ 30,550 | 1730/- | for the next 7 years | 17 |
| ₹ 42,600 | 3270/- | for the next 1 year | 18 |
| ₹ 45,930 | 1990/- | for the next 1 year | 19 |
| ₹ 47,920 | , | , | , |
SBI Clerk Allowances and Perks 2024
The allowances given to Junior Associates may vary depending on their place of posting. They will have the opportunity to receive reimbursements for various benefits and facilities such as Provident Fund, Pension under New Pension Scheme (Defined Contribution Benefit), Medical Benefits, Leave Fare and other facilities. These reimbursements and facilities will be given as per the instructions issued by the Bank from time to time.
conveyance allowance
The table gives the details of the monthly reimbursement of conveyance allowance to be given to the candidate appointed to the post of Junior Associate.
| SBI Clerk Conveyance Allowance | |||
| Reimbursement per month | |||
| Category of employees | Maintenance of two or four wheeler vehicles (in petrol liters) | Non-maintenance of vehicles (Amount in Rs.) | Entertainment Expenses (Amount in Rs.) |
| Chief Associate (Working as Cash Incharge) | 43 | 900 | 1140 |
| Main collaborators | 43 | 900 | 600 |
| Special Associate | 35 | 850 | 540 |
| Senior Associate | 25 | 700 | 420 |
| Associates/Junior Associates | 20 | 625 | 360 |
Provision of newspapers
The category wise amount for provision of newspapers to SBI Junior Associate is mentioned in the table below.
| Provision of SBI Clerk Newspapers |
|
| Category of Staff | Rs. per month |
| Main collaborators | 530 |
| Special Associates working as Cash-in-Charge/ATM/Locker-in-Charge/Member of Outbound Sales Force | 530 |
| Other Chief Associate/Special Associate/Senior Associate/Associate/Junior Associate | 450 |
| subordinate staff | 350 |
medical facilities
The medical benefits that an SBI Clerk gets are as follows:
- Annual Medical Assistance: Employees are eligible for annual medical aid benefits.
- Advanced Medical Assistance (Specified Critical Illnesses): Advanced medical aid coverage is provided for specifically specified critical illnesses.
- Hospital planning: A plan is in place to cover hospitalization expenses.
- Other therapeutic benefits: Additional medical benefits also include vaccination coverage.
SBI Clerk Job Profile and Promotion
Junior Associates in State Bank of India manage various daily banking operations. Along with the SBI Clerk salary, candidates must also be familiar with the job profile.
- Cash Management across the counters
- Interacting with customers and resolving their queries
- Assisting customers with documentation requirements
- Account opening process
- Conducting RTGS/NEFT transactions
- Management of checkbook requests
- Issuance of Demand Draft
SBI Clerk Career Growth
State Bank of India offers great career advancement opportunities to its employees, ensuring substantial growth. Candidates joining SBI at a young age have the potential to rise to the position of General Manager. Promotions for SBI clerks happen mainly in two ways:
- Promotion in the Cadre: Employees get the opportunity to get promotion within their existing cadre or post based on their performance, experience and eligibility criteria.
- Promotion in Office Cadre: Employees can also be promoted to higher cadres, such as officer positions, through a structured promotion process that takes into account their skills, qualifications and performance.
Promotion in the Cadre
The category of cadre promotion for SBI Clerk employee is time bound and based on home posting.
- In addition to the total salary, employees are entitled to receive a special allowance of Rs 1800 per month. It is important to note that this allowance is not included in the calculation of basic salary. On completion of 10 years of service, an Associate is promoted to the post of Senior Associate.
- After twenty years of service, an Associate becomes a Special Associate. At this level, a special allowance of Rs 2500 is provided every month. It is important to mention that after reaching this level, the allowance is included in the calculation of the basic salary.
- After completing 30 years of service, an associate is promoted to the post of Chief Associate. At this level, a special allowance of Rs 3500 is given, and this amount is taken into account while calculating the basic pay.
Promotion in Office Cadre
After completing three years of service, an associate gets the opportunity to become a trainee officer. To progress to the officer level, candidates must clear the JAIIB (Junior Associate of Indian Institute of Bankers) and CAIIB (Certified Associate of Indian Institute of Bankers) examinations, which are conducted by the Indian Institute of Banking and Finance. Apart from clearing the JAIIB and CAIIB examinations, candidates are required to clear an internal written examination and interview. On successfully clearing the written examination, candidates will have to complete a probation period of two years. After completing the probation period, candidates will have to undergo an interview. Those who clear the interview will be promoted to the Middle Management Grade (Scale 2). The remaining candidates who are unable to clear the interview will remain in the clerical grade.
SBI Clerk Salary Annual Package
The annual package of SBI Clerk Salary 2024 includes basic pay, various allowances, and additional perks. Apart from the fixed components, SBI clerks may also be eligible for performance-based incentives and bonuses, which further increase their earning potential. The comprehensive salary package includes a number of benefits including healthcare, retirement planning, and other perks, making SBI a preferred employer in the banking sector. SBI Clerk annual package would be around ₹ 4.44 Lakh.
