Saturday, 15 March 2014

Salary scale of a Specialist Officer in public sector bank

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Salary of a Specialist Officer Scale 2

Basic Pay

Rs 19400 – 700/1 – 20100 – 800/10 – 28100/-
The above salary doesn’t include Allowance such as HRA, DA and CCA etc. The Figure 700/1 shows the increment for the first year and 800/10 indicates an increment of Rs 800 for next ten years in the basic pay. A minimum of 2 years of relevant experience is required for an individual to be appointed as officer scale 2.

Allowances

(a) Dearness Allowance (DA) : It is revised on a quarterly basis mostly in the months of February, May, August and November  based on the Consumer Price Index  as declared by Government of India.
So what is a Dearness Allowance?
It is a cost of living adjustment allowance paid to Government employees  in India every year.It is calculated as a percentage of Basic Salary. DA always changes based on the rate of inflation. Higher the inflation, higher is DA and vice verse. Currently DA has reached 96.15%.
(b) House Rent Allowance (HRA) : As the name suggests it is an house rent allowance given to employees.  This depends on the place of posting and it can be either 6.5% or 7.5% or 8.5% of the Basic Salary depending on the place of posting.
(c) City Compensatory Allowance (CCA):  It is an allowance which is given when an employee moves from one city to another . This also depends on the place of posting and can be either 4% / 3% / 0% of the basic salary
Approximate Salary Figure Ranges Rs. 35,000-40,000 Including All Allowances 

Salary of a Specialist Officer Scale 1

Basic Pay

 Rs 14500 – 600/7 – 18700 – 700/2 – 20100 -800/7 – 25700/-
The above salary figure  also doesn’t include Allowance such as HRA, DA and CCA etc. The Figure 600/7  shows the increment of Rs.600 for first 7 years and 700/2  indicates an increment of Rs 700 for next 2 years and so on .
Approximate Salary Figure Ranges Rs. 25,000-30,000 Including All Allowances


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