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  #1  
Old May 10th, 2013, 12:14 PM
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Join Date: Dec 2011
Default Corporation Bank PO Salary

Can you please provide me the idea of Corporation Bank PO Salary??

As you want to get the salary Corporation Bank PO Employees, so here I am providing the following information about salary:

Corporation Bank PO Pay Scale (Expected)




SCALES of Bank PO (Expected)
JMGS-I - Rs.14, 500/- TO Rs.31, 500/-@
MMGS-II - Rs.19, 400/- TO Rs.34, 200/-@
MMGS-III - Rs.25, 700/- TO Rs.35, 100/-@
@including two additional stagnation increments
SMGS-IV - Rs.30, 600/- TO Rs.36, 200/-
SMGS-V - Rs.36, 200/- TO Rs.40, 400/-
TEG-VI - Rs.42,000/- TO Rs.46,800/-
TEG-VII - Rs.46,800/- TO Rs.52,000/-

Dearness Allowance
For every 4 points rise/fall in index, Dearness Allowance at 0.15% per slab.

City Compensatory Allowance
CCA rates are as under:
Places in Area I - 4% of Basic Pay, Max. Rs.540/-p.m.
Places with population of more than 5 lacs - 3% of Basic Pay,
Max. Rs.375/-p.m.

House Rent Allowance
We have retained the existing rate of HRA as under:
Major A class cities - 8.5%
Other places in Area I - 7.5%
Other places - 6.5%

Medical Aid
For officers other than SBI, the medical aid has been enhanced as;
Scale I to III – Rs. 5100/- p.a.
Scale IV & above - Rs. 6320/- p.a.

Bank PO Perks and Facilities (Expected)



Here I am giving you idea of Corporation Bank PO Salary

Corporation bank Pay Scale
Basic pay 14500
DA 8720
HRA 1232
City compensatory allowances 540
SO 25k
Allowances
Petrol 35litres Rs 1150rs
Entertainment 450 Rs
Canteen Subsidy 250 Rs
Telephone expenses 386 Rs
Paper-125 Rs
All together 3800 Rs
Medical expenses 5100 Rs per annum

Corporation bank PO Pay Scale:
Basic pay Rs14500
DA ( ie current 60.15%) Rs 8721.75
CCA Rs 540
Lease in 'a' grade city Rs 6500
Furniture allowance after probation Rs 150000
Petrol after probation Now 25 ltr
News paper Rs 150 per month
Deduction
Pf contribution Rs 2322
Professional tax Rs200

Hello, the salaries of the POs are fixed by the government as per the rules. So here I am sharing the details of salaries of major PSU banks:
PSU Bank PO Salary at Joining Time in India

As per the 7th pay commission of the government, the pay scale for the PO in Corporation Bank will be as follows in year 2015 and 2016.

Basic Salary
Major A class cities :Metro Cities Rs.14500.00
Other places in Area I(State Capitals etc) Rs.14500.00
Other places (District level and Rural Places) Rs.14500.00
Dearness Allowance (110.10%)
Major A class cities :Metro Cities Rs. 15964.50
Other places in Area I(State Capitals etc) Rs. 15964.50
Other places (District level and Rural Places) Rs. 15964.50
CCA(4% max Rs.540=)
Major A class cities :Metro Cities Rs. 540.00
Other places in Area I(State Capitals etc) Rs.375.00
Other places (District level and Rural Places) nil
HRA (Major A class cities - 8.5%, Other places in Area I -7.5%, Other places - 6.5%)
Major A class cities :Metro Cities Rs.1232.50
Other places in Area I(State Capitals etc) Rs.1087.50
Other places (District level and Rural Places) Rs.942.50
Total
Major A class cities :Metro Cities Rs. 32237.00
Other places in Area I(State Capitals etc) Rs. 31927.00
Other places (District level and Rural Places) Rs. 31407.00
Add 15 % increase in pay slip as per new settlement which is expected to be implemented from June 2015(w.e.f. Nov 2012)
Major A class cities :Metro Cities Rs.4835.00
Other places in Area I(State Capitals etc) Rs.4789.00
Other places (District level and Rural Places) Rs.4711.00
Gr Total
Major A class cities :Metro Cities Rs. 37,072.00
Other places in Area I(State Capitals etc) Rs. 36,716.00
Other places (District level and Rural Places) Rs. 36,118.00

Last edited by Aakashd; December 18th, 2019 at 06:03 PM.
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  #2  
Old May 10th, 2013, 02:59 PM
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Default Corporation Bank PO Salary

Can you tell me the exact salary of the bank PO for all grade.?
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  #3  
Old May 13th, 2013, 03:51 PM
Super Moderator
 
Join Date: Apr 2013
Default Re: Corporation Bank PO Salary

Salary for Major A class cities :
Metro Cities
Basic Salary Rs.14500.00
Dearness Allowance (80.25%) Rs.11636.25
CCA(4% max Rs.540) Rs. 540.00
HRA Rs.1232.50
Total Rs.27,908.75

Salary for Other places in Area I(State Capitals):

Basic Salary Rs.14500.00
Dearness Allowance (80.25%) Rs.11636.25
CCA(4% max Rs.540) Rs.375.00
HRA Rs.1087.50
Total Rs. 27,598.75

Other places (District level and Rural Places):
Basic Salary Rs.14500.00
Dearness Allowance (80.25%) Rs.11636.25
CCA(4% max Rs.540 ) nil
HRA Rs.942.50
Total Rs.27,078.75


Here I am providing you the screen shot for more detail information about the salary.



Address:
Corporation Bank
Corporate Office
Mangaladevi Temple Road
Pandeshwar
Mangalore - 575 001
Karnataka
ph. 91-824-2426416

Quote:
Originally Posted by Unregistered View Post
Can you tell me the exact salary of the bank PO for all grade.?

Last edited by Aakashd; January 30th, 2014 at 10:25 AM.
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  #4  
Old October 29th, 2015, 02:00 PM
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Guest
 
Default Re: Corporation Bank PO Salary

Hello, I had given the exam of bank PO and I got cleared. Now I want to know the salary of bank PO of corporation bank.
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  #5  
Old March 24th, 2017, 11:16 PM
ks rao
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Default Re: Corporation Bank PO Salary

pl let us know the leased house rental slabs for corporation bank managers,and is ther any change in the comming months.
kv.sudhi@gmail.com
9844355178
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  #6  
Old August 24th, 2019, 06:10 PM
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Default Re: Corporation Bank PO Salary

Can you provide me the salary structure for PO (Probationary Officer) in Corporation Bank which makes its recruitment through Institute of Banking Personnel Selection (IBPS) score?
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  #7  
Old August 24th, 2019, 06:11 PM
Super Moderator
 
Join Date: Jun 2013
Default Re: Corporation Bank PO Salary

The salary structure for PO (Probationary Officer) in Corporation Bank which makes its recruitment through Institute of Banking Personnel Selection (IBPS) score is as follows:


IBPS PO Salary: Basic Pay

The Basic IBPS PO Salary is: 23700-(980 7)-30560-(1145 2)-32850-(1310 7)-42020

This means upon joining, one will get a Basic Salary of Rs 23700. In addition to that there will be other allowances. The POs will also get an annual increment of Rs 980 for 7 years.

That is:

Basic Pay after 7 years Rs 30560
Basic Pay after 2 more years Rs 32850
Basic Pay after 7 more years Rs 42020


IBPS PO Salary: Allowances

Dearness Allowance (DA)

Revised quarterly, based on the CPI, the DA forms around 40% of the basic pay.
It is to be noted that since DA depends upon CPI, it can increase or decrease based on the inflation rates.


House Rent Allowance (HRA)
This depends upon the location of posting of the Probationary Officers. Based on whether they are posted in metropolitan cities, big cities or other locations, the HRA can be 9%, 8% or 7% of the Basic Pay.


Special Allowance
The Special Allowance is 7.75% of the Basic Pay.


City Compensatory Allowance (CCA)
The CCA too, like the HRA, depends upon the location of posting. It can be 4%, 3% or 0% based on the job location.


The total in-hand IBPS PO Salary including all these allowances is thus around Rs 35700-Rs 36570. With the HRA, it becomes Rs 37360-Rs 38700.


IBPS PO Salary: Other Benefits and Perks
In addition to the IBPS PO Salary, there are other advantages and benefits of this job:

Leased Accommodation: In some locations the bank provides accommodation/quarters, in such cases HRA is not provided. The amount goes directly to the owner of the accommodation.

Travelling Allowance: The bank also provides Travelling Allowances. Otherwise, the expenses on petrol is reimbursed.

Medical Aid

Newspaper Reimbursement

New Pension Scheme
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