₹35k salary? SBI manager’s Form 16 has gone viral and sparked a debate on gross vs Today’s news
State Bank of India (SBI) Manager Form 16 with annual gross salary of Rs ₹35.24 lakh went viral on social media and sparked a debate on how salaries are perceived in public sector banks and what is the difference between the gross income and the actual take-home pay.
The document shared on X purportedly belongs to an SBI employee who reportedly joined the bank as a Probationary Officer (PO) eight years ago and has since been promoted to Scale 3 Manager.
According to Form 16 for the financial year 2025-26 shared on a viral post, the manager’s gross annual salary was ₹35,24,315,88. The figure surprised many online users, with some initially believing it reflected the employee’s regular monthly earnings.
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The viral post explains why the figure is taller
User X, while sharing the document, said that the amount shown in Form 16 should not be confused with the employee’s regular annual salary or monthly income.
“People often say that SBI employees have a ‘settled life’, but this Scale 3 manager pay slip can completely change your perspective,” the post read.
The user explained that gross pay includes one-time or irregular payments that significantly increase the annual number.
“At first glance, the number looks huge. But the reality is completely different. The gross salary includes LFC Collection and Holiday Collection, which are one-off benefits that are collected only once every four years, they are not part of the regular monthly salary,” added the post.
According to the post, Concessional Fare Collection (LFC) and holiday encashment are fringe benefits and are not part of the employee’s recurring monthly wages.
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The user also pointed out that multiple deductions further reduce the amount credited to the employee’s bank account each month.
These include income tax, contributions to National Pension Scheme (NPS), Employee Pension Fund (EPF) and also home loan, car loan and two-wheeler loan repayments.
As a result, the post argued, the monthly take-home pay is substantially less than the gross annual amount might suggest.
Social media weighs
The post quickly gained attention on X, with many users saying it highlighted the common misconception that gross pay is the same as take home pay.
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One user wrote, “I agree 35 lakh gross looks great but it includes 4 years encashment. After tax, NPS, PF and loans the monthly take home is much less. A common myth about the settled life of bank officers.”
Another commented, “Form 16 shows pride but monthly income shows struggle. Raw numbers never tell the real story of a banker’s pocket.”
A third user said: “Looking only at Form 16 without considering taxes, deductions, lump sums and loan repayments can create a misleading picture. It’s better to judge earnings by actual monthly take home and total responsibilities, not just the number on the headline.”
Another user wrote in a similar vein: “A person’s income can be accurately estimated not only from his gross salary, but also from his actual salary and duties.”
A fifth user added: “Gross pay doesn’t tell the whole story. Take home pay is what really reflects real earnings.”