Eight years into government sector and yet the take home salary is not as perceived. A post featuring SBI bank employee salary slip on X has sparked debate on the internet with users shocked to the stark difference between what is showcased and reality.
The post quickly garnered attention with many users expressing shock and highlighting concerns on the misconcetption amonsgt the crowd. While some argued that Rs 35 lakh is still a substantial annual package.
What looks like a huge take away of Rs 35 lakh by 1 employee annually is purpotedly a gross salary which includes Leave Fare Concession (LFC) Encashment and Leave Encashment, which are one-time or infrequent benefits rather than recurring components of the salary and not the pay for every month.
People often say that SBI employees have a ‘settled life ’, but this Scale 3 Manager’s salary slip might completely change your perspective,” the caption of the viral post on X read as the user broke the ‘sham’ of a ‘settled life’. The user joined SBI as a Probationary Officer (PO) eight years ago and was promoted to the position of Scale 3 Manager.
“On top of that, there are monthly deductions for Income Tax, NPS, EPF, Home Loan EMI, Car Loan, and Two Wheeler Loan. So, the Gross Salary mentioned in Form 16 can be very different from the actual amount credited to the bank account every month,” the post further stated.
One user remarked, “Form 16 shows the pride, but the monthly take-home shows the struggle. Gross numbers never tell the true story of a banker’s pocket.” Another criticizing the post wrote- “Hello job security? Hello pension? Hello lower-rate home loans, etc? Hello pay commission? Hello housing in heart of city? Hello first dibs on houses that are auctioned sometimes much below market,” mentioned while listing the perks enjoyed by government and public sector employees.