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What are the allowances for bank clerk?

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What are the allowances for bank clerk?

IBPS Clerk Salary in India

IBPS Clerk Salary Structure
Population More Than 45 lakhs Population Less Than 45 lakhs
Basic Pay Rs 11765 Rs 11765
Dearness Allowance Rs 5311 Rs 5311
Travel Allowance Rs 425 Rs 425

Can bank clerk get home posting?

IBPS Clerk Posting and Responsibilities Once the results are out, the selected candidates receive their posting. In the first few years it is less likely that clerks receive a posting that is near their home town. A clerk can expect a promotion after 3-4 years, depending on their performance.

Why bank clerk is called award staff?

On expiry of this Award “Desai Award” came into operation in 1962 revising the salaries and service conditions of Bank employees. This is applicable to all the Clerks, Peons and Sweepers working in Banks and hence these employees are popularly known as “Award Staff”.

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Does SBI provide LTC?

ACIT, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that the Leave Travel Concession (LTC) provided to the employees of SBI is not covered under section 10(5) of the Income Tax Act in cases where foreign destination is involved.

What is the role of bank clerk?

A Bank Clerk needs to ensure the compliance of KYC (Know Your Customer) for all new account holders in the Bank. The job profile requires the Bank Clerk to be the head cashier who is responsible for managing cash and also gold loans. Opening Loan Accounts and filling loan information. Monitoring NPA’s.

How many types of bank clerks are there?

There is a different type of clerks in the bank such as loan clerk, interest clerk, security clerk, exchange clerk, etc. Some of the daily tasks that a bank clerk has to perform are the following: Pay Attention to Customer and their Requirements such as withdrawal slips.

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What is the duty of clerk in Bank?

What is starting salary of SBI clerk?

A: The starting basic salary of SBI Clerk is INR 19,900. The basic pay is INR 17,900, however, with two advance increments, the starting basic salary is INR 19,900.

What is home travel concession?

Leave Travel Concession (LTC) is granted to Central Government employees for travel to various parts of the country and home as well. The number of home travel visits allowed are two. This is made available every four years. One of the hometown visits can be substituted with an “All India visit”, if needed.

What is the procedure for LTC on vacation?

The period of absence on account of availing Leave Travel Concession shall be regularised by granting earned leave, half pay leave, commuted leave or leave without allowance under Rule 88, Part l, KSRs. Teachers of Schoots andColleges witl be allowed LTC on vacation.. LTC shall be admissibte during leave preparatory to retirement.

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What is the LTA exemption for travel?

LTA Exemption is not allowed if it is encashed by the employee without going on any journey. The whole LTA amount is charged to tax. The family of the employee can also take a tour without the employee and still claim exemption u/s 10(5).

Is leave travel allowance taxable?

The amount received as LTA is exempt to a specified limit while computing Income from Salaries. The remaining amount would be taxed as per Income tax slab rates. The Leave Travel Allowance calculation is as under:

What is the maximum amount of leave encashment during LTC?

Leave encashment during LTC An employee can avail leave encashment during LTC for a maximum of 10 days and a total of 60 days in their career. However, to avail leave encashment, after availing leave encashment, the leave balance should be a minimum of 30 days.

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