IBPS Clerk 2021: In-Hand Salary & Future Promotions

IBPS Clerk 2021: It was not so long ago when IBPS announced the official notification for IBPS Clerk 2021. The news came in just yesterday. The interested aspirants should be happy to know the fact that the salary for this job will come under the purview of the seventh pay commission. All the aspirants should have a detailed overview of the salary and job profile before applying for this job.  

The awareness about the job role and in-hand salary does give the aspirants a clear picture of what they can expect if they clear the IBPS Clerk 2021. Heer are some pointers to keep in mind before applying for the recruitment: 

• The following exam is being conducted for clerical jobs under the organisation of “The Institute of Banking and Personnel Selection.”  
• You will be expected to clear two rounds of examination: Prelims and Mains.  
• In order to appear for mains candidates will have to clear the prelims cut-off. 
•  a provisional allotment list is generated for those candidates who have scored high enough.
• You will be offered the job once you have cleared the mains. Some candidates are kept in the waiting list and if those from the former list don’t join the job, the ones in the waiting list are given a chance.   

IBPS Clerk Job Profile 

Any clerical job in any bank is an entry level job at an administrative level. A clerical job is literally like an on-job training. The very first practical experience of how a bank and banking sector operates. So, ideally your workload is high in terms of the operational and administrative work. You will be constantly working under the supervision of senior employees.  

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Some of the major responsibilities of an IBPS Clerk: 

• Verification of documents submitted by the customers 
• Single window operations 
• Updating passbooks of customers 
• Assisting senior managers 
• Maintenance of various documents such as bank’s ledger, balance sheets, etc.  
• Management of cash deposits and withdrawals 
• Attending treasury related works 
• Handling regular customer grievances 
• Other miscellaneous tasks and duties 

IBPS Perk In-Hand Salary 2021 

The in-hand salary is decided by multiple factors such as basic pay, allowances, HRA, etc. And also by the population of state.  

The monthly in-hand salary would either be Rs. 19,588 or Rs. 19,470. The perks and allowances are calculated as per a fixed percentage of the basic pay. The percentage is different for each type of allowance or perk.

IBPS Clerk Payscale 2021: 11765-655/3- 13730-815/3- 16175-980/4- 20095-1145/7- 28110-2120/1- 30230/1310-1- 31540.  

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IBPS Clerk Additional Benefits and Allowances 

IBPS Clerk Year-Wise Pay Scale 2021 

The minimum basic pay as mentioned is Rs. 11,765. The maximum basic pay can be Rs. 31,540. Here are the year-wise increments and salary structure: 

• Initial basic pay of Rs. 11,765 will have a yearly increment of Rs. 655 for the first three years 
• Basic pay after 3 years: Rs. 13,730 with a yearly increment of Rs. 815 for the next three upcoming years.  
• Basic pay after another 3 years: Rs. 16,175 with a yearly increment of Rs. 980 for the next 3 years. 
• Basic pay after the next 4 years: Rs. 20,095 now with an annual increment of Rs. 1,145 for the next 7 years.  
• Basic pay after the next 7 years: Rs. 28, 110 now with an annual increment of Rs. 2,120 for the next one year. 
• Basic pay after the next 1 year: Rs. 30,230 now with an annual increment of Rs. 1,310 for the next one year. 
• Basic pay after next year: Rs. 31,540 (Maximum Basic Pay) 

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Future Promotions Available for an IBPS Clerk 

You may start as a clerk with a nominal salary at such banks but as you grow further with time you can enjoy the luxury of being a highly respected bank official.  

Criteria for Promotion for an IBPS Clerk 

Normal Process of Seniority/Experience 

Normally, clerks are promoted on the basis of work experience and seniority. You will have to give an internal exam which is conducted for an employee’s qualification for a promotion. After the first exam a clerk becomes a trainee officer and by the next exam, they are probationary officers.  

Merit-based Process 

The merit-based process would require the employees to take JAIIB and CAIIB diplomas from the Indian Institute of Banking & Finance.  

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