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Federal Bank will be inviting applications from the eligible candidates for the recruitment to the post of Probationary Officer this year as the openings are created under the bank. Federal Bank publishes the notification inviting them through their official website as the process of registration is completed from the part of candidates. Federal Bank PO Admit Card 2021 will be released by the recruiting body online separately for different groups and stages of examination and selection and it is important to know all the details about the post if you are planning to appear for the examination. One of the most important factors that every candidate check before applying for the job is the salary scale. Federal Bank PO Salary is also something each candidate is waiting to know about. To know about Federal Bank PO Salary for the candidates who are planning to appear for the examination is requested to go through the complete details provided in this article.
Federal Bank PO Salary Scale
Like any other job, salary is one of the important factors which are related to the work. As all the candidates who are preparing for the posts might know Federal Bank is one of the biggest private sector banks in India and it provides decent salaries to the employees. Here are the details about the pay scale provided by Federal Bank to their probationary officers.
Candidates who appear for the different rounds of examination and making it to the final Federal Bank PO Merit List will be selected for the post and also will be offered a salary package as per the banking levels. The Federal Bank salary of Probationary officer would lie between ₹23,700 – ₹42,020 per month.
Federal Bank PO Salary Structure
The Federal Bank salary of Probationary officer would lie between ₹23,700 – ₹42,020 per month. 23700 Rs is the basic pay for probationary officers under the federal bank. Apart from this basic salary, certain allowances are also given to the employees. Here are the details about the perks and benefits a Federal Bank PO receives apart from his/her basic salary.
The calculations of the Dearness Allowance (DA) are based on the Consumer price index. It varies according to the factors like inflation rate, and other market factors. It covers a wide range of requirements of an employee like conveyance, newspapers, entertainment allowance, house & furniture maintenance, etc.
House Rent allowance
The House Rent Allowance depends upon the place of posting of the employee. It varies from 7% to 9% of the basic pay, depending upon the nature of the place of posting – Metropolitan, Non-metro, small town, or village.
CCA (Compensatory City Allowance)
The Compensatory City Allowance (CCA) may vary depending upon the place of posting. It may be 4%, 3%, or 0%, depending upon whether the employee is posted in a Metropolitan, Non-metro, small town, or village. This allowance is provided so that the employee is provided with some help to bear the living costs of an expensive place if that is the case.
Other Allowances related to pay
Federal Bank PO Pay Scale
The Federal Bank PO Salary structure is one that attracts a lot of candidates for recruitment. The salary structure is as given: the starting Basic Pay applicable to Officers (in Scale I) is 23700 on the scale of pay 23700 – 980/7 – 30560 – 1145/2 – 32850 – 1310/7 – 42020. The officials will also be eligible for perks like DA, Lease rental/HRA, CCA, Medical, and other allowances & perquisites as per rules in force from time to time. The cost to the company per annum would be a minimum of 7.50 lakhs and a maximum of 9.40 lakhs depending upon the place of posting and several other factors.
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