What Perks and Benefits Can You Expect from the Role of an RRB Clerk

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IBPS RRB

A decent salary package offered by IBPS RRB is one of the primary reasons why more job aspirants from across the country prefer the Officer and Office Assistant positions. The RRB clerk salary is comparable to the best in the banking industry, not to mention the perks that come with the job.

There is a lot of excitement after the IBPS RRB exam’s official notification for 2020-21 was released. Candidates are attracted by the decent salary structure for a clerk’s post, which includes liberal perks, other permissible benefits, and rapid career growth for focused candidates who excel in their jobs. Millions of aspiring candidates are applying for the RRB clerk’s position because of the salary package offered.

Popular Choice

The Indian banking sector has emerged as one of the most popular choices for young job aspirants looking to build their banking careers. Apart from the regular RRB clerk salary, there is job security to consider and the attractive perks and allowances that are part of the salary package, making it one of the most attractive. This is the primary reason for the huge rush of applicants trying to pass the exams to fill the few vacancies announced by the IBPS every year.

The IBPS RRB Clerk Salary Package

The salary package for the IBPS RRB clerk post range is Rs.7200-400/3-8400-500/3-9900-600/4-12300-700/7-17200-1300/1-15800-800/1-19300. The approximate cash on hand you can expect is around Rs.19000 to Rs.22000.

Salary and Allowances

The IBPS RRB salary packages include Dearness Allowance (DA) and House Rent Allowance (HRA) for all the positions in various scales. Here are the details, given as a breakup:

Dearness Allowance:                                   46.5% of the basic pay

House Rent Allowance                             For Rural Areas: 5% of the basic pay

                                                                               For Semi-urban Areas: 7.5 of the basic pay

                                                                               For Urban Areas: 10% of the basic pay

Special Allowances                                      7.75% of the basic pay

Besides these regular allowances, the IBPS RRB clerk position is eligible for the following perks:

Travelling Allowances:

The bank offers an option where the full expenses incurred on fuel, either diesel or petrol, for travelling to the office are reimbursed.

Leased Accommodation:

The banks generally provide their employees with accommodation, and they can stay in the staff quarters located within easy travelling distance.  If there is no vacant accommodation available, there is an option to take accommodation on lease in the bank’s name, and the bank pays the rent.

Medical Reimbursement:

The banks’ salary package includes a fixed amount for medical treatment for employees and their dependents.

Pension Schemes:

All employees come under the bank’s pension scheme, and they are eligible to draw a pension after retirement. However, only employees who have put in the minimum prescribed years of service are eligible for a pension. Most banks come under the National Pension Scheme, which encourages their employees to develop their saving habits. A small percentage of the salary is deducted from the employees’ salary, which is added to the banks’ contribution and saved in the pension account. The employees’ pensions are drawn from this account, which is maintained perpetually.

Summing it Up

The Indian banking sector offers an attractive salary structure to its officers and clerks. This is the primary reason why there is an unprecedented rush of applications every year for IBPS RRB clerks.

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