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Date: Sep 04, 2023 Author: Mallika Mehzabeen
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Being an IBPS PO officer offers stability of the job. Even during an economical crisis, banking sector jobs are those which are less likely to get affected.
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The basic salary of an IBPS PO officer is INR 36,000. However, with various allowances factored in and after a deduction of taxes and NPS contribution, the in-hand salary for a banking officer is INR 52,630.
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Probationary Officers receive allowances such as Dearness Allowance (DA) and House Rent Allowance (HRA) to help them manage the rising cost of living and cover accommodation expenses.
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IBPS PO officers are eligible for medical benefits, including medical reimbursement allowances to cover medical treatment expenses. A new medical reimbursement scheme extends this coverage to retired and resigned employees.
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IBPS POs contribute to the Employee Provident Fund (EPF), which is a retirement savings plan that helps them secure their financial future. They are also eligible for gratuity, which is a lump sum payment given upon retirement or resignation.
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Probationary Officers (POs) in banking often need to travel for work, so they receive travel allowances to cover their commuting expenses.