Allowances and other benefits are included in the wage structure. Interested applicants can apply online at www.jkbank.com, where they can also get answers to their other questions. Continue reading to find out!
JK Bank PO Salary 2023: Salary Structure
Go through JK Bank PO Salary structure from the below table:
| Type of Pay | Amount |
| Basic Pay |
|
| Special Allowances | Rs 18, 36.75 |
| Dearness Allowances | 40% of the basic pay(Varies based on inflation rates) |
| City Compensatory Allowances | Rs 870 |
| House Rent Allowance | Rs 2133 |
| Gross with HRA | Rs 38, 703.38 |
| Medical Aid | Rs 8000 |
| Entertainment | Rs 500 |
| Newspaper | Rs 300 |
| Petrol | Rs 3000 |
| Telephone | Rs 400 |
| Canteen Subsidy | Rs 400 |
| Pension Contribution | Rs 25000 |
| Gross Annual CTC(with HRA but without leased accommodation) | Rs 5, 57, 640 |
JK Bank PO Salary 2023: Pay Scale
J&K Bank employees are paid a starting salary of Rs. 23700/-, with periodic raises. Different allowances and other benefits are included in the wage structure.
The wage structure for Jammu and Kashmir Bank Probationary Officers is divided into two parts: Basic Pay and Allowances. Because the base pay is Rs. 23700/-, the allowances are calculated in addition to the basic pay. The post and salary will be incremented on a regular basis.
JK Bank PO Salary: Basic JK Salary
The beginning basic pay for Junior Management Grade Scale-l is Rs. 23700/- (scale 23700-980/7-30560-1145/2-32850-1310/7-42020) with various benefits.
| Scale | Basic Salary | Payscale |
|---|---|---|
| JMGS – l | Rs. 23700/- | 23700-980/7-30560-1145/2-32850-1310/7-42020 |
JK Bank PO Salary Increments
- The newly hired Bank Associate will be paid a base salary of Rs. 23700 with two advance increments.
- After that, employees would receive a pay raise of Rs. 980 each year for the next seven years.
- The basic wage will be Rs. 30560 after seven years. The employees will thereafter receive an annual raise of Rs. 1145 for the next two years.
- The basic pay will be Rs. 32850 after the following two years.
- Then, for the next seven years, the annual increment will be Rs. 1310, till the basic wage is Rs. 42020.
JK Bank PO Salary: Joining Details
- The selected candidates would be required to sign a Rs.5 lakh bond upon joining the bank in order to serve for a minimum of 5 years.
- If the candidate resigns from the bank’s service before the completion of five years from the date of joining, the bank will trigger the bond.
- The chosen candidates are labeled as “Probationary Officers” upon joining and are placed on probation for a term of two years.
- Candidates are continually evaluated for their performance during their probationary period.
- Candidates who pass the evaluation according to the bank’s requirements will be confirmed in the bank’s Junior Management Grade Scale (JMGS-l).
- If a candidate does not comprehend the bank’s basic requirements, his or her services may be terminated.
- The J&K Bank offers tremendous chances for professional advancement and skill development, as well as options to work outside of the state of J&K.
JK Bank PO Salary: Other Allowances
- Dearness Allowance (DA)
- House Rent Allowance (HRA)
- Hill and Fuel Allowance
- Variable Pay
- Lunch allowance
- Risk Allowance
- Refreshment Allowance
- City Compensatory Allowances (CCA)
- Travel Allowance
- Medical Allowance
Details on Allowances Dearness Allowances (DA) are updated every three months in tandem with the consumer price index. This portion of the compensation usually accounts for roughly 40% of the Essential Pay. Because the CPI is affected by inflation rates, the DA might rise or fall in response.
House Rent Allowances (HRA) vary according to the job area, whether the candidate is assigned to metropolitan cities, large cities, or other regions. HRA can be as high as 9%, 8%, or 7% of the LIC AAO Basic Pay. The City Compensatory Allowance (CCA) may be 4 percent, 3 percent, or 0 percent of the LIC AAO Basic Pay, depending on the candidate’s job location.
Other Important Links:
JK Bank Recruitment for PO 2021
JK Bank PO Previous Year Papers
eligibility criteria for JK Bank PO
We have covered complete details on JK Bank PO Salary 2021. If you have any queries related to the JK Bank PO Exam, feel free to comment below.
FAQs on JK Bank PO Salary 2023:
What is the basic JK Bank PO Salary for 2023?
The beginning basic pay for Junior Management Grade Scale-l is Rs. 23700/- (scale 23700-980/7-30560-1145/2-32850-1310/7-42020) with various benefits.
What are the other allowances provided by JK Bank?
Dearness Allowance (DA)
House Rent Allowance (HRA)
Hill and Fuel Allowance
Variable Pay and more. Refer to the above article.
What are the steps in the JK Bank PO selection process?
Preliminary Exam
Mains Exam
Interview Process
Does the JK Bank provide increments to the selected candidates?
Yes, you can refer to the above article for more information.
What is the number of vacancies announced by JK Bank for the post of PO?
The Jammu and Kashmir Bank has advertised 350 probation officer positions (PO).