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BANK EMPLOYEES || 12TH BPS SALARY 17% HIKE || LOAD FACTOR 3% CALCULATOR

Nuances of 12th BPS Insights for Dedicated Bank Professionals :

The 12th Bipartite settlement to bank employees has been finalized. Now everyone looks to calculate their pay slip package based on this hike. Now the salary hike in banks settled to 17% in which a 3% load factor is included in this. Over all on the payslip, you will get a 17% hike. Dearness Allowance(DA) is merged with the present basic. Special allowance is calculated on basic pay and DA which was 16.4 % in the 11th Bipartite settlement. Now this special allowance is not yet finalised as of 7/12/2023. 





12TH BPS SALARY CALCULATION WITH 17 HIKE.

Here I have calculated the present gross salary as per 11th BPS and also as per 12th BPS. 

WHAT IS LOAD FACTOR 3% IN SALARY CALCULATION EXPLAINED. 

Load factor is considered in the 12th BPS. This is the thing that mostly benefits bank staff among other allowances because this load factor arrived by considering both BASIC and DA. In the below chart load factor at 3% is taken from both BASIC AND DA.

TOTAL SALARY INCREASE IS EXACTLY  17% AS PER 12 TH BPS SETTLEMENT

Gross salary before 12TH BPS( Rs. 74,125 /- ) and Gross salary after 12TH BPS ( Rs. 89,601 /-)is shown below. Thus the increase is 17% on payslip as said in the 12BPS final negotiating committee.

12th BPS CALCULATED FOR OFFICERS' SALARIES.

The below salary chart is prepared for the employee who has joined bank in 2021 with basic pay of Rs. 36,000 /- as per 11th BPS. The employee has passed both JAIIB AND CAIIB certification courses which was conducted by www.iibf.org which carries 1 increment each. For the year 2022 and 2023 the employee has got two yearly increments. Thus total (1+1+1+1)  = 4 increments. Each increment is Rs. 1490 /- in BASIC PAY for officers. The below chart shows salary calculation for Officer employee with CAIIB qualification and 2 yearly increments he already had. 

1 LAKH PLUS SALARY IN BANKS.

The officer in banks will get 89,601 as per my calculation in the above calculation sheet  with CAIIB and 2 years experience. With other allowances like RENT AND PETROL the gross salary of officer employee in banks crosses 1lakh. Thus it is best to choose bank job for your professional career growth. This is decent salary which is very good news for bank staff as per 12th BPS.
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SALARY SLIP COMPONENT'S OF BANK EMPLOYEES LOAD FACTOR 


THE COMPONENTS OF THE PAYSLIP FOR OFFICER EMPLOYEE IN BANKS ARE BASIC PAY, DA,  SPECIAL ALLOWANCE  And LOAD FACTOR of 3% is included in new salary for bank employees. In the below chart load factor of 3 % is calculated to new basic pay of 12th bps and New DA. i.e 3% of (56212+10286) = 1994. Thus Rs. 1994 is added to basic pay as load factor for the present pay slip and the other components like DA, SPECIAL ALLOWANCE AND HRA are calculated as per 12th bps settlement. 


The components that are eligible for DA, HRA, PF, GRATUITY, PENSION,  NPS are Basic pay, stagnation increments, Special Pay, Graduation pay/ Professional qualification pay and Officiating Pay. The percentages will be given in the final 12th BPS which will be given soon