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I want to know the Salary Structure & Allowances of Probationary Officer PO In Syndicate Bank so can you please tell me?

[Vishal Kotkar]

The revised basic pay of Syndicate Bank Probationary Officer PO is Rs. 23700 as applicable on 1st January 2016.

The revised basic pay of PO is-

23700 - (980 x 7) - 30560 - (1145 x 2) - 32850 - (1310 x 7) – 42020

Syndicate Bank Probationary Officer PO salary-

Allowances Amount
Basic Pay Rs. 23700.00/-
Special Allowance Rs. 1836.75/-
DA Rs. 10163.63/-
CCA Rs. 870/-
Transport Allowance –
Total (without HRA) Rs. 36570.38/-
HRA Rs. 2133.00/-
Gross with HRA Rs. 38703.38/-
Medical Aid Rs. 8000/-
Entertainment Rs. 500/-
Newspaper Rs. 300/-
Petrol Rs. 3000/-
Telephone Rs. 400/-
Canteen Subsidy Rs. 400/-
Pension Contribution Rs. 2500/-
Gross Annual CTC (with HRA
but without leased
accommodation) Rs. 5,57,640.52/-

Allowances-

Dearness Allowance (DA):

Dearness Allowances are given to government employees as the cost of living adjustment allowance.
It is some fixed percentage of the basic salary and based on location of the job of employees and inflation.

HRA:

House Rent Allowance or HRA based on the location of posting. All bank employees are given House Rent. If employees are having their own home, can’t claim for HRA.

Special Allowance:

Some special allowances are given to the Probationary Officers/ Management Trainees like 10th Bipartite Settlement.

CCA:

City Compensatory Allowance also depends on place of posting. This is given to the employees for balancing the high cost of living. It can be max 4% (Rs.870/-) or 3% (Rs.600/-) or 0%.