Banking Exams Exam > Banking Exams Questions > Are there any allowances or perks included in...
Start Learning for Free
Are there any allowances or perks included in the salary of an IBPS RRB Clerk?
Most Upvoted Answer
Are there any allowances or perks included in the salary of an IBPS RR...
Allowances and Perks Included in the Salary of an IBPS RRB Clerk
An IBPS RRB Clerk is an entry-level banking position in the Regional Rural Banks. The salary of an IBPS RRB Clerk is structured as per the guidelines of the Indian Banks' Association (IBA). In addition to the basic pay, an IBPS RRB Clerk is entitled to various allowances and perks, which enhance the overall compensation package. Here are the details of the allowances and perks included in the salary of an IBPS RRB Clerk:
1. Dearness Allowance (DA)
- Definition: Dearness Allowance is provided to compensate for the inflationary trends in the economy. It is a cost of living adjustment allowance.
- Percentage: DA is calculated as a percentage of the basic pay and is revised quarterly based on the Consumer Price Index (CPI).
2. House Rent Allowance (HRA)
- Definition: House Rent Allowance is provided to employees who do not have a bank-provided accommodation. It helps employees in meeting their rental expenses.
- Percentage: HRA is calculated as a percentage of the basic pay and varies based on the city of posting. It is usually 7.5%, 10%, or 15% of the basic pay.
3. Special Allowance
- Definition: Special Allowance is provided to compensate for the irregular working hours and extra efforts put in by the employees.
- Percentage: It is calculated as a percentage of the basic pay and is fixed at 7.75% of the basic pay.
4. Transport Allowance
- Definition: Transport Allowance is provided to meet the commuting expenses of the employees.
- Amount: It is a fixed amount based on the city of posting and is revised periodically by the government. Currently, it ranges from Rs. 400 to Rs. 1600 per month.
5. Medical Allowance
- Definition: Medical Allowance is provided to meet the medical expenses of the employees and their dependents.
- Amount: It is a fixed monthly amount and varies from bank to bank. Currently, it ranges from Rs. 800 to Rs. 1500 per month.
6. Leave Travel Concession (LTC)
- Definition: Leave Travel Concession is provided to employees to cover their travel expenses while on leave.
- Frequency: LTC is available once every two years or as per the bank's policy.
7. Provident Fund (PF)
- Definition:
Attention Banking Exams Students!
To make sure you are not studying endlessly, EduRev has designed Banking Exams study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Banking Exams.
|
Explore Courses for Banking Exams exam
|
|
Similar Banking Exams Doubts
Top Courses for Banking ExamsView all
Are there any allowances or perks included in the salary of an IBPS RRB Clerk?
Question Description
Are there any allowances or perks included in the salary of an IBPS RRB Clerk? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Are there any allowances or perks included in the salary of an IBPS RRB Clerk? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Are there any allowances or perks included in the salary of an IBPS RRB Clerk?.
Are there any allowances or perks included in the salary of an IBPS RRB Clerk? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Are there any allowances or perks included in the salary of an IBPS RRB Clerk? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Are there any allowances or perks included in the salary of an IBPS RRB Clerk?.
Solutions for Are there any allowances or perks included in the salary of an IBPS RRB Clerk? in English & in Hindi are available as part of our courses for Banking Exams.
Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.
Here you can find the meaning of Are there any allowances or perks included in the salary of an IBPS RRB Clerk? defined & explained in the simplest way possible. Besides giving the explanation of
Are there any allowances or perks included in the salary of an IBPS RRB Clerk?, a detailed solution for Are there any allowances or perks included in the salary of an IBPS RRB Clerk? has been provided alongside types of Are there any allowances or perks included in the salary of an IBPS RRB Clerk? theory, EduRev gives you an
ample number of questions to practice Are there any allowances or perks included in the salary of an IBPS RRB Clerk? tests, examples and also practice Banking Exams tests.
|
|
Explore Courses for Banking Exams exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup