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IPPB PO and Clerk Salary Structure, Pay Scale, Allowances and Benefits 2021

Updated On -

Mar 19, 2021

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Abanti

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The India Post Payments Bank was established in 2017 and headquartered in Delhi. The India Post Payments Bank has 100% government equity. India Post Payments Bank was opened with an aim to increase financial inclusion across the country. The bank is targeted towards the small businessmen who are interested in expanding their business. It provides them with the services ensuring lower cost of the transaction. The requirement conducted by this bank is for posts like Assistant Manager, Clerks, PO, and many others.

Recently, the notification for the recruitment of the IPPB Officer Scale I, II, III, IV, V, Manager and Assistant Manager 2020 – 2021 has been released. Online application forms are available at www.indiapost.gov.in or at www.ippbonline.com . The vacancies for about 1150 candidates for the post of JMGS – I, MMGS – II, MMGS – III in different categories were released for 2020-21.

  • Anyone who has a graduation or post-graduation degree can apply for appearing in the examination for the officer’s post in the India Post Payments Bank.
  • The minimum age limit for the candidates is 20 years and a maximum of 40 years as per the given date.
  • The examination works in three stages including written examination, group discussion, and personal interview or personality test.
IPPB Salary

IPPB Jobs Salary Structure/Allowances

Below given is the current salary structure for the recruited officers of the India Post Payments Bank

  • Junior Management Grade – I officer: Rs. 23, 700 /- to Rs. 42, 020 /-, Monthly salary – Rs. 65, 000 /-.
  • Middle Management Grade-II Officer: Rs. 31, 705 /- to Rs. 45, 950 /-, Monthly Salary – Rs. 83, 000 /-.
  • Middle Management Grade – III Officer: Rs. 42, 020 /- to Rs. 51, 490 /-, Monthly Salary – Rs. 1,06,000 /-
  • Senior Management Grade - V Officer: Rs. 59, 170 /- to Rs. 66, 070 /-
  • Territory Officer: Rs. 27,000 /- (monthly)

IPPB Salary for Scale II, III, IV and V

Scale Pay Scale Monthly CTC
TEGS – VI Rs. 68,680 – Rs. 76, 520 Rs. 2,18,294
SMGS – V Rs. 59,170 – Rs. 66,070 Rs. 1,76,664
SMGS – IV Rs. 50,030 – Rs. 59,170 Rs. 1,44,250
MMGS – III Rs. 42, 020 – Rs. 51,490 Rs. 1,06,000.00
MMGS – II Rs. 31,705 – Rs. 45,950 Rs. 83,000

IPPB Salary for Scale IV and V

Scale Pay Scale Monthly CTC
SMGS – V Rs. 59, 170 – Rs. 66, 070 Rs. 1, 76, 664
SMGS - IV Rs. 50,030 – Rs. 59, 170 Rs. 1, 44, 250

IPPB Salary for IV, V and VI in a corporate office

Scale Pay Scale Monthly CTC
TEGS – VI Rs. 68, 680 – Rs. 76, 520 Rs. 2, 18, 294
SMGS – V Rs. 59, 170 – Rs. 66, 070 Rs. 1, 76, 664
SMGS – IV Rs. 50, 030 – Rs. 59, 170 Rs. 1, 44, 250
Allowances & Benefits

Allowance and Benefits

  • House rent allowance

Classification of place Rate
Major ‘A” category cities (population with more than 45 lacs) 9% of pay
“A” category cities ( population over 12 lacs and below 45 lacs) 8% of pay
All other places (population over 5 lacs and below 12 lacs) 7% pay
  • Special Allowance- Scale I and II – 7.75% OF BASIC PAY +applicable Dearness Allowance
  • Fixed Personal Pay- Scale I and II – 1,453
  • Bouquet of Allowances

It includes 50% of the basic pay that is paid as a part of the salary. Once in a year, in the month of April, the officers tend to inform the HR about the allowances he/she shall opt in the given year. And the total amount of this bouquet of allowance should not exceed 50% of the basic pay. The bouquet of allowance shall involve the following things.

  • Newspaper allowance
  • Petrol (not applicable for scale VI and scale VII officers)
  • Furniture allowance
  • Club membership
  • Leave travel concession
  • House cleaning allowance
  • Casual labor
  • Entertainment allowance
  • Children education allowance
  • Reimbursement of a mobile allowance

Other allowances include halting allowance, reimbursement of expenses on traveling which varies as per different scale and different place of visit. Another type of allowance includes the duty specific allowance which is given as –

  • Special area allowance
  • Project area compensatory allowance
  • Split duty allowance
  • Hill and fuel allowance
  • Mid academic year transfer allowance
IPPB Vacancy

IPPB Vacancy 2021

Allocation of Post wise Vacancies

Job Names Vacancies Job Scale Location
Assistant Manager (Area Operations) 300 JMGS-I IPPB Branch Office
Manager (Area Sales) 200 MMGS-II
Territory Officer 650 Below Scale-I
IPPB FAQs

FAQs

Ques. The India Post Payments Bank is a government job or private job?

Ans. The India Post Payments Bank is completely a government job.

Ques. What is the exact age eligibility and as per which date?

Ans. The age limit is fixed from 20 – 40 years as per the September 1 of the respective year. For instance, the candidate should be of 20 years by September 1 of the considering year.

Ques. Is there any service bond or agreement in the India Post Payments Bank?

Ans. NO

Ques. When do these respective salaries increase?

Ans. The salaries tend to rise as per the promotions or according to increasing pay scale.

Ques. Is there any age relaxation for SC / ST / OBC candidates?

Ans. Yes, the age relaxation for SC / ST candidates is of 5 years, for OBC candidates it is for 3 years, for physically handicapped it is for about 10 years, for physically handicapped plus OBC candidates the age relaxation is given for about 13 years and for the candidates who are SC / ST and also physically handicapped, the age relaxation is given for about 15 years.

Ques. How many years are there in the probation period?

Ans. There is a time period of two years for probation. During this period the probationary officers are given the intensive training.

3 Months Crash Course

*The article might have information for the previous academic years, please refer the official website of the exam.

Comments


1 Comments
M
murlidhar pandey
Murlidhar Pandey Siwan Bihari On line application kabse start ho ra hai For the post scale 2,3,4 ke liye
S
sinbad chongtham

The registration process for the said posts are supposed to start by May 2021. However, due to the current situation of the pandemic in the country all activities have been put on hold. The official dates will be released by the at the official website once it has been decided by the concerned authority.