NABARD Grade A Salary Slip 2024: Detailed Breakdown of Pay, Revised Allowances, and Perks|Exact Data

Summary

In this video, the presenter explains the differences between various banking sector jobs, comparing NABARD Grade A to higher roles like RBI Grade B. The focus is on the salary structure, which includes base salary, multiple allowances, and self-declaration options for some benefits. The net monthly salary is approximately ₹8,997, with annual perks like medical reimbursements, housing loans, and holiday home facilities. The video also emphasizes the work culture, which offers stability, fixed office hours, and minimal public dealing. Overall, NABARD Grade A offers an attractive balance of salary, benefits, and work-life stability.

Takeaways

• 😀 NABARD Grade A is considered a 'papa' job, one step below the top 'dada' jobs in the banking sector.
• 😀 NABARD employees receive multiple allowances such as Dearness Allowance, Location Allowance, Special Allowance, and more.
• 😀 The gross monthly earnings of a NABARD Grade A employee amount to ₹114,294 after including all allowances.
• 😀 The net pay after deductions (excluding festival advance) is ₹8,997 per month for NABARD Grade A employees.
• 😀 Monthly allowances include petrol, equipment maintenance, and knowledge update allowances, with most based on self-declaration.
• 😀 Self-declaration means employees do not need to submit bills for most allowances, except for spectacles allowance.
• 😀 Employees can claim various annual allowances such as medical, furniture, LTC (Leave Travel Concession), and more.
• 😀 The total annual compensation (CTC) for NABARD Grade A after one year is approximately ₹10,79,640.
• 😀 NABARD Grade A employees enjoy a stable work-life balance with a fixed workweek and no high-pressure public dealings.
• 😀 Benefits include housing loans at 5.5% interest, festival advance as interest-free loans, and access to NABARD holiday homes.
• 😀 The job comes with a relatively low work-pressure environment, making it attractive for those seeking stability in the banking sector.

Q & A

What is NABARD Grade A considered in the banking sector?

NABARD Grade A is considered a prestigious job, often referred to as a 'papa job' in comparison to other roles like Bank PO or Clerk due to its higher allowances and benefits.

What is the starting basic salary for a NABARD Grade A employee?

The starting basic salary for a NABARD Grade A employee is ₹47,000.

How much is the dearness allowance for NABARD Grade A employees?

The dearness allowance for NABARD Grade A employees is ₹3,203.

What are the total gross earnings before deductions for NABARD Grade A?

The total gross earnings before deductions for NABARD Grade A employees is ₹1,14,294.

What deductions are made from the salary of a NABARD Grade A employee?

The deductions include Provident Fund (₹9,778), medical premium (₹200), income tax (₹1,912), professional tax (₹200), and festival advance (₹800), totaling ₹3,512.

What is the net salary after deductions (excluding festival advance) for NABARD Grade A?

The net salary after deductions, excluding festival advance, for NABARD Grade A is ₹8,997.

What allowances are available for NABARD Grade A employees monthly?

Monthly allowances include fuel allowance (₹20,800 in Mumbai), equipment maintenance allowance (₹10,000), knowledge update allowance (₹20,000 annually), internet reimbursement (₹0), and telephone allowance (₹1,173), with total monthly allowances amounting to ₹7,015.

Which allowances require bills to be submitted and which are self-declared?

Most allowances are self-declared, including fuel, equipment maintenance, and internet. Only the spectacles allowance requires a bill to be submitted.

What is the annual leave travel concession (LTC) for NABARD Grade A employees?

The annual leave travel concession (LTC) for NABARD Grade A employees is ₹31,000, and it can be claimed for up to four dependents.

What are the additional benefits provided to NABARD Grade A employees?

Additional benefits include a 5.5% interest rate on housing loans, access to holiday homes, medical reimbursements, and insurance coverage, making the job financially secure and offering a good work-life balance.