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corporate salary

By djmaza Oct 11, 2013 1043 Words
CORPPORATE SALARY PACKAGE
This package offers many concessions in service charges, interest rates on loans, etc. to employees of Corporates and Institutions which include Schools, Colleges, Universities, Government establishments/ organizations, Service organizations such as Hospitals, Hotels, Transport Corporations etc. The Package can be specially customized depending upon the business relationship that the Corporate / Institute has with the Bank.

CRITERIA
• Minimum 25 Employees
• Minimum Gross Monthly income Rs.5000/-
• Minimum monthly salary pay-out of Rs.1,25,000/- for the employer • Available in four variants of Silver, Gold, Diamond and Platinum depending on the monthly income of employees  
BENEFITS FOR EMPLOYER
Centralized compensation and salary administration.
Convenient management of salaries through 14902 plus core banking branches. One debit and multiple credits.
Reduced paperwork.
Savings on remittance cost.
BENEFITS FOR EMPLOYEES:
Employers have free access to:-
More than 31000 + ATMs of State Bank Group.
Internet banking.
Mobile banking.
Complete bouquet of banking services including :
Overdrafts, Loans at attractive rates on preferential basis & Range of value added benefits.

CORPORATE SALARY PACKAGE PRODUCT:

FEATURES OF CUSTOMER SALARY PACKAGE:
No service charges for non-maintenance of minimum balance.
Cheque books:
Free for all variants
Multi City Cheques (payable AT par cheques):
Unlimited Free
Maximum amount per cheque Rs.10 Lakhs

Internet Banking: Free internet banking which permits utility bill payments/fund transfer etc.

Restrictions in Transaction at the Branch: NIL

Free Demand Drafts:
Depending on Salary Package variants, free Drafts with a ceiling of Rs.50,000/- on each drafts, available for DSP/ PMSP/ ICG, subject to draft issue through Salary Package account.

RTGS/NEFT For CSP customers:
Available at standard rates.
Free for DSP, PMSP, CGSP, RSP.

RTGS/NEFT For Corporates:
The NEFT/ RTGS charges waived for Corporates/ Institutions while uploading through CINB.

ATM cum Debit Card:
No issue charges and also No annual Maintenance Charges for Domestic, Gold International and Platinum International Debit Cards.  
For silver variant State Bank Silver International ATM cum Debit Card issued and 1 extra card for Joint account holder.

For Gold and Diamond category accounts, State Bank International Gold ATM Cards.  
For Platinum category accounts Platinum International Debit Card issued.

Maximum Withdrawal at SBI ATMs:
Rs.40,000/- for Silver International ATM cards
Rs.50,000/- for Gold International ATM Cards
Rs.1,00,000/- Platinum International ATM Cards

Maximum daily transaction at Point of Sales (PoS):
Rs .75,000/- for International Silver Int. ATM cards
Rs 2,00,000/- for Gold International ATM Cards
Rs 2,00,000/- Platinum International ATM Cards

Free Personal Accident Insurance (Death) Cover:
Free Complimentary Personal Accidental Insurance (PAI) cover for Primary Salary Package account holder, ranging from Rs.1 Lakhs to Rs.10 lakhs on accidental death. Salary Package Account
Variant
PAI Death Cover
CSP,SGSP,CGSP,RSP, Jawans of PSP
Silver
Rs.1 lac
DSP,PMSP,ICGSP
Silver
Rs.3 lac
All Salary Package
Gold and Diamond
Rs.5 lac
All Salary Package
Platinum
Rs.10 lac

Transactions at ATMs other than that of SBI Group:
Free transaction (financial and/or Non-Financial) in Savings Account 5 times in a month with a maximum cash withdrawal of Rs.10,000/- at one time.

Mobile Banking:
No charges including for funds transfer up to Rs.50,000/-
Balance Enquiry
Funds Transfer to any other account in any SBI Branch across the country. Transfer of Funds to Non SBI Bank Account through NEFT.* - for more details contact your nearest SBI Bank branch. Service Requests. – Cheque Book request/ stop payment instructions. Utility Bill Payment.

SBI Credit Card / SBI Life Insurance Premium Payment.
Demat Accounts

AUTO SWEEP:
Free auto sweep facility to transfer amount to Fixed deposits.

Reimbursement Current account: Available (For crediting of amounts other than monthly salary by employer)

SMS alert/Statement in Email: Available.

Pass book: Available. There are no service charges for Passbook updation even at Non Home branches.

Transactions at other branches
Preferential allotment of Lockers:
Available for all variants.
25 % concession in locker rentals available for Platinum Variant Customer.

Purchase of Gold Coin by CSP Account holders:
1% concession on card rate for purchase of 2, 4, 5, 8, 10, 20 and 50 gm denominations.

Core power:
ANYWHERE BANKING SERVICE offered to the customers would allow to operate your account from any branch of SBI at the same center or other location, other than the Home branch where you have opened your account.

DOCUMENTS REQUIRED FOR OPENING A SALARY ACCOUNT:
Passport size photographs (2 nos.)
 
For proof of identity:
Identity Cards issued by the employer with duly authenticated Photographs For proof of Address:
.Employer’s letter for opening Salary Accounts
Employer’s letter for proof of residence of other proof of residence Salary slips for last three months
For new recruits, a copy of the letter of offer along with salary details  
In addition to the above at least one of the documents of provided in Prevention of Money Laundering Rules or utility bills to be submitted for KYC purpose for opening Savings Bank account.  
a) Proof of Identity (Any one document)
Passport
Voter ID card
PAN Card
Govt./Defence ID card
Driving License
Voter ID Card
Photo identity card issued to bonafide students by a University, approved by University Grant Commission (UGC) and/or an Institute approved by All India Council for Technical Education (AICTE). Government / Defence services / Public Sector undertaking / Photo-identity Card Letter issued by United Identification Authority of India (UIDAI) containing details of name, address, and Aadhar Number.  

b) Proof of Address (Any one document)
Passport
Credit Card Statement- not more than 3 months old
Telephone –not more than 6 months old
Electricity Bill- not more than 3 months old.
Ration Card
Gas connection registration letter
Income tax / Wealth tax assessment order
Registered lease / leave and licence agreement with a utility bill in the name of the landlord. Income/ Wealth Tax Assessment Order
Letter from any recognized public authority
Voter ID Card (only if it contains the current address)
Bank account statement
Letter from reputed employer
Letter from any recognized public authority having proper and verifiable record of issuance of such certificates.  
Joint accounts:
For joint accounts the above documents are required for both, the applicant as well as joint accounts.

SALARY TRANSFER THROUGH CORPORATE INTERNET BANKING:
Set up, forget it.
Employees details to be keyed in only once.
Flexibility of time/access 24/7 database.
Multiple level of authentication possible.
Virtual cheque generated.
Audit facility available.
Generates E-voucher.
Authoriser can be different locations.
Payment of income tax, corp tax, service tax made easy.
Print E-receipt and submit return.

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