Salary and Allowances for Union Bank Clerks in India (2020 and 2024)

The salary of a Union Bank clerk in India can vary based on a number of factors, including time of employment, location, and specific bank policies. Below is a detailed breakdown of the salary and allowances for Union Bank clerks in both 2020 and recent years.

2020 Salary for Union Bank Clerks

In 2020, the salary of a clerk in the Union Bank of India typically ranged from approximately 23,000 to 30,000 per month, depending on the location, experience, and specific bank policies. This figure includes both basic salary and various allowances and benefits.

Salary Breakdown (2020)

Basic Pay: Rs 24,050 Special Allowance: Rs 6373.25 Transport Allowance: Rs 850.00 Dearness Allowance (DA): Rs 5,379 (17.2% of 30,500) HRA (House Rent Allowance): Rs 2,465.125 Gross Salary: Rs 39,117.37 Total Deductions: Rs 3,708.34 (mainly for Contributory Pension Scheme) Net Salary: Rs 35,409.03

Salary for Union Bank Clerks in 2024

For the month of July 2024, the gross earnings for a customer service associate (CSA) at Union Bank of India have been reported as Rs 45,425.57, with net earnings of Rs 41,717.23 after all deductions.

Salary Breakdown (July 2024)

Dearness Allowance (DA): Rs 4,583.39 HRA (House Rent Allowance): Rs 2,941.75 Special Pay: Rs 19,700 Total Deductions: Rs 3,708.34 (mainly for Contributory Pension Scheme) Gross Salary: Rs 45,425.57 Net Salary: Rs 41,717.23

Detailed Salary Structure for Union Bank Clerks

The salary of a bank clerk in Union Bank of India follows the salary structure set by the Public Sector Banks (PSBs) industry. This structure is typically determined through a bipartite settlement between the bank unions and the Indian Banks Association (IBA).

Key Components of the Salary

Basic Pay: The starting salary, as mentioned in the Union Bank Clerk notification or the IBPS Clerk notification, if recruitment happens through IBPS. The latest pay scale can be found in the official documents published by Union Bank. Allowances: Various allowances that significantly boost the take-home pay. These include: Dearness Allowance (DA): Linked to living costs and adjusted periodically. Housing Rent Allowance (HRA): Helps cover housing expenses, as per the city of posting. City Compensatory Allowance (CCA): Varies based on the city, compensating for higher living costs in metro cities. Travel Allowance (TA): Reimbursement for commuting expenses. Medical Allowance: Covers medical expenses.

Considering these allowances, the take-home salary for a Union Bank clerk can range between Rs 28,000 to Rs 30,000 per month initially, depending on the specific pay scale, city of posting, and allowance revisions.

Resources for Further Reading

Union Bank of India Website: For the latest recruitment notifications, visit the official website of Union Bank of India. IBPS Clerk Salary Structure: If recruitment happens through IBPS, you can refer to the IBPS Clerk salary structure for general information. News Articles: Stay updated with news articles related to recruitment drives by the bank for detailed salary information.

For the most accurate and up-to-date salary information, it is advisable to refer to official sources or bank notifications.