SBI PO emoluments

I want to know about the SBI PO starting salary and the emoluments so can you please give me some information about this?

[Kiran Chandar]

At present SBI PO monthly emolument at Mumbai will be approximately Rs 70000/- i.e. Rs. 840000/- per year inclusive of lease rental.

This is not fully in cash as it includes Rs. 29500 as facility to get a house in Mumbai if you are posted there.

The SBI bank probationary officers are required to make 10% of their basic pay as contribution to Provident Fund and 10% of Basic Pay and D.A. towards pension scheme

For the year 2014:
The starting basic pay is 16,900/-(with 4 increments) in the scale of 14500-600/ 7-18700-700/2-20100-800/7-25700 applicable to Junior Management Grade Scale I.

The official will also be eligible for D.A, H.R.A & C.C.A as per rules in force

The compensation per annum at Mumbai is around Rs. 8,40,000/-.

The breakup of ` monthly compensation is as under:
Cash Component 34,320/-

Bank’s contribution to PF 1,690/-

Housing (Lease Rental) 29,500/-

Perquisites
(Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc.) 4,130/-

In addition, the officers are also entitled to other benefits like –
(i)Medical Aid for self (100%) and for family (75%)

(ii) Home Travel Concession/Leave Fare Concession

(iii) Concessional Interest Rates for Housing/Car/Personal Loans