Canara Bank PO Life

Tell me the working days and the hours of the Probationary Officer PO of Canara Bank? What is the salary structure of Probationary Officer PO in this bank? If I apply for job of PO in Canara Bank then what is the minimum salary I will get?

I completed my studies and want to join banking line and for this decide to join Canara Bank for the post of PO searching for bank life. Will you provide details about Canara Bank PO Life and salry offered to them also provide detail like what other allowances and perks given to them?

[pawan]

Canara Bank is one of the largest public sector banks owned by the Government of India. Its headquarter is in Bengaluru.

It was established at Mangalore in 1906. It is one of the oldest public sector banks in the country.

PO life and salary:

Basic Pay RS. 23700.00/-
Special Allowance RS. 1836.75/-
DA RS. 10163.63/-
CCA RS. 870/-
Trans Port 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) This is an adjustment for the cost of living adjustment paid to all government and public sector probation officers. It is reviewed quarterly and is based on the consumer price index (CPI). The calculation of DA depends on inflation. DA can increase with higher inflation and also decrease if the inflation rate is negative.
HRA 0% or 8.0% or 7.0% depending on the place of posting.
Special Allowance 10th BPS (wef. 01/11/2012) and for Scale, I 7.75% on which DA is also payable
CCA 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%
Conveyance allowance It is paid for commuting between home and office.

Dearness Allowance

For every 4 points rise/fall in index, Dearness Allowance at 0.15% per slab.

City Compensatory Allowance

CCA rates are as under:

Places in Area I 4% of Basic Pay, Max. Rs.540/-p.m.
Places with population of more than 5 lacs 3% of Basic Pay,
Rs.375/-p.m.

House Rent Allowance

We have retained the existing rate of HRA as under:

Major A class cities 8.5%
Other places in Area I 7.5%
Other places 6.5%