Latest Bank of India announced recruitment.
PAY SCALE, BASIC PAY AS BELOW & OTHER ALLOWANCES AND PERQUISITES AS APPLICABLE:
Present Scale of Basic Pay (in Rs.) – [Revision expected shortly]
JMG Scale I: 10000-470/6-12820-500/3 – 14320 – 560/7 – 18240
MMG Scale II: 13820-500/1 – 14320 – 560/10 – 19920
MMG Scale III: 18240-560/5 – 21040 – 620/2 – 22280
Pls explain how the gross salary will be calculated???
From India, Coimbatore
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PAY SCALE, BASIC PAY AS BELOW & OTHER ALLOWANCES AND PERQUISITES AS APPLICABLE:
Present Scale of Basic Pay (in Rs.) – [Revision expected shortly]
JMG Scale I: 10000-470/6-12820-500/3 – 14320 – 560/7 – 18240
MMG Scale II: 13820-500/1 – 14320 – 560/10 – 19920
MMG Scale III: 18240-560/5 – 21040 – 620/2 – 22280
Pls explain how the gross salary will be calculated???
From India, Coimbatore
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This is similar to the pay scale of Govt. employees .
The person preparing the pay role has to refer the concerned circulars notified from time to time for each DA, ADA, other allowance etc. applicable to the particular grade of employee.
For example while preparing pay role of a new joinee of JMG Scale-I, Basic Rs.10,000 + DA + ADA + OA (if any) - (minus) deductions etc. He is eligible for an increment of basic @ Rs.470/year upto 6th year of employment and then @ Rs.500/year for 3 years and @ Rs.560/year for 7 years.
In case, a person has been working for more than 8 years in the JMG Scale-I, but has been drawing his pay @ old/lower rate, now he is eligible to get this new rate i.e. basic Rs.14320/- + DA, ADA etc. and also the arrears from the effective date of this scale.
From India, Hyderabad
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5The person preparing the pay role has to refer the concerned circulars notified from time to time for each DA, ADA, other allowance etc. applicable to the particular grade of employee.
For example while preparing pay role of a new joinee of JMG Scale-I, Basic Rs.10,000 + DA + ADA + OA (if any) - (minus) deductions etc. He is eligible for an increment of basic @ Rs.470/year upto 6th year of employment and then @ Rs.500/year for 3 years and @ Rs.560/year for 7 years.
In case, a person has been working for more than 8 years in the JMG Scale-I, but has been drawing his pay @ old/lower rate, now he is eligible to get this new rate i.e. basic Rs.14320/- + DA, ADA etc. and also the arrears from the effective date of this scale.
From India, Hyderabad
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SALARY SHEET CALCULATION.xls
Salary calculation.doc