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The State Bank of India (SBI), the largest bank in India, offers one of the most sought-after positions through the SBI PO (Probationary Officer) exam. SBI PO is highly competitive due to the prestigious role and the attractive compensation package that comes with it. This article delves into the comprehensive salary structure for SBI POs, detailing both the gross salary and the net in-hand pay that officers receive. We’ll explore the various components, such as basic pay, allowances, deductions, and additional benefits, providing insights into the financial perks of this esteemed role.
SBI PO Latest Salary 2024
| Component | Amount (₹) |
|---|---|
| Initial Basic Pay (with 4 increments) | 56,480 |
| Dearness Allowance (17.20%) | 11,545.86 |
| House Rent Allowance (HRA) | 5,648.00 |
| City Compensatory Allowance | 2,300.00 |
| Learning Allowance | 850.00 |
| Special Allowance | 14,967.20 |
| Gross Salary | 91,791.06 |
| Deductions | 9,617 |
| Net Salary | 82,174 |
SBI PO Latest Salary 2024 Deductions Details
| Deduction | Amount (₹) |
|---|---|
| Employee PF Contribution | 5,648.00 |
| Professional Tax | 200.00 |
| Income Tax Deducted During Month | 3,769.00 |
| Total Deduction | 9,617.00 |
SBI PO Latest Salary Slip
SBI PO Allowances, Perks and Benefits
- Leased Accomodation Facility
- Dearness Allowance
- City Compensatory Allowance
- House Rent Allowance
- Medical Insurance
- Travelling Allowance: Reimbursement for AC 2-tier fare on official trips
- Additional Allowances: Newspaper, Entertainment, Books, vary by location
- Cashless Treatment: Available at selected medical facilities nationwide
- Loan Benefits: Concessionary rates on home, car, and personal loans
- Pension Contribution: Under new pension scheme
- Leave Travel Concessions (LTC)
(FAQs) Frequently Asked Questions about SBI PO Salary
- What is the basic pay for an SBI PO in 2024?
The starting basic pay is ₹56,480, including four annual increments. - What allowances are included in an SBI PO’s salary?
Allowances include Dearness Allowance, House Rent Allowance, City Compensatory Allowance, and Special Allowance. - Are there additional benefits?
Yes, benefits include Medical Insurance, Travelling Allowance, cashless medical treatment, and concessionary loan rates. - What are the deductions in the SBI PO salary?
Common deductions include Employee PF Contribution, Professional Tax, and Income Tax, totaling about ₹9,617. - What is the net monthly salary of an SBI PO?
After deductions, the net monthly salary is approximately ₹82,174. - Is there a pension scheme for SBI POs?
Yes, SBI POs are eligible for contributions to a new pension scheme. - What is the gross monthly salary for an SBI PO?
The gross salary typically amounts to around ₹91,791, though it may vary slightly based on specific allowances and location.
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