IB ACIO Salary Structure:
Salary structure is one of the important ingredients of every post. For that here we have given the detailed IB ACIO Salary Structure for Grade-II post. The Net Salary & Gross Salary has been given along with the salary structure. Candidates go through this and know the useful information for your reference.
| Payscale | 9,300 – 34,800 |
| Grade Pay | 4,200 |
| Basic Pay | 13,500 |
| CPC Fitment Factor | 35,370 |
| HRA | 4,050 |
| Transport | 3,200 |
| Gross Salary | 42,620 |
| Deductions | |
| EPF | 1,350 |
| CGHS | 500 |
| Total Deductions | 1,890 |
IB ACIO Salary Ingredients:
Payscale:
Payscale term is a system that determines how much an employee is to be paid. The pay scale is generally associated with Government Organizations, PSUs wherein every category of employee is recruited under a pay scale.
How to Calculate Payscale?
The sum of basic pay, grade pay, benefits, and allowances. The pay scale may vary depends upon the grade, rank, posting area, seniority, etc. Based on these factors, the pay scale has been determined by the organization/government.
Basic Pay:
Base pay is the initial salary paid to an employee for their work. It does not include allowances, benefits, bonuses, etc. Basic Salary is a fixed amount of money and based on this factor further calculation can be done.
CPC Fitment Factor:
CPC fitment factor means Common Pay Commission Fitment Factor. On the basis of this fitment factor, the minimum basic pay for central government employees has been determined. Multiply the fitment factor with the existing basic pay which results to the next pay commission as a revised pay.
House Rent Allowance(HRA):
House rent allowance (HRA) is a basic component of your salary. For most employees, House Rent Allowance (HRA) is a part of their salary structure. If a post is applicable to the HRA means an employee can be reimbursed from the organization. The minimum entitled HRA for Class X, Y, and Z cities is Rs. 5400/- pm, Rs. 3600/- pm and Rs.1800/- pm respectively. The HRA would be 24%, 16%, and 8% of the Basic pay for X, Y, and Z class cities respectively.
| Category of Cities | HRA After 7th Pay Commission |
| A | 24% |
| B | 16% |
| C | 8% |
Employee Provident Fund:
The Employee Provident Fund (EPF) is a retirement benefits scheme in which employees of an organization contribute a small portion of their basic pay monthly. It encourages systematic consistent saving during the service.
Central Government Health Scheme:
Central Government Health Scheme(CGHS) is nothing but provide comprehensive healthcare to beneficiaries through Wellness Centres. This has been introduced for the central government employees during their service by the Ministry of Health & Family Welfare-Government of India.
IB ACIO Salary In-Hand:
The IB ACIO Salary In-Hand is about
- Rs. 68, 256/- Per Month(Metro Cities)
- Rs. 61,064/- for Rural Areas.
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