₹35 lakh salary? SBI manager's form 16 goes viral, sparks gross vs take-home pay debate

A State Bank of India (SBI) manager's Form 16 showing an annual gross salary of ₹35.24 lakh has gone viral on social media, prompting a debate over how salaries in public sector banks are perceived and the difference between gross income and actual take-home pay.

The document, shared on X, is said to belong to an SBI employee who reportedly joined the bank as a Probationary Officer (PO) eight years ago and has since been promoted to the position of Scale 3 Manager.

According to the Form 16 for the financial year 2025-26 shared in the viral post, the manager's gross annual salary stood at ₹35,24,315.88. The figure surprised many users online, with several initially believing it reflected the employee's regular monthly earnings.

Viral Post Explains Why The Figure Is Higher

Sharing the document, the X user said the amount mentioned in the Form 16 should not be mistaken for the employee's regular annual salary or monthly income.

"People often say that SBI employees have a 'settled life' but this Scale 3 Manager's salary slip might completely change your perspective," the post read.

The user explained that the gross salary includes one-time or infrequent payments that significantly increase the annual figure.

"At first glance, the figure looks huge. But the reality is quite different. The gross salary includes LFC Encashment and Leave Encashment, which are one time benefits received only once every four years, not part of the regular monthly salary," the post added.

According to the post, Leave Fare Concession (LFC) encashment and leave encashment are occasional benefits and are not part of the employee's recurring monthly pay.

The user also pointed out that several deductions further reduce the amount credited to the employee's bank account every month.

These include income tax, contributions towards the National Pension System (NPS), Employees' Provident Fund (EPF), as well as repayments for a home loan, car loan and two-wheeler loan.

As a result, the post argued, the monthly take-home salary is considerably lower than what the gross annual figure might suggest.

Social Media Weighs In

The post quickly gained traction on X, with many users saying it highlighted a common misconception that gross salary is the same as take-home pay.

One user wrote, "Agreed, 35 lakh gross looks great but includes 4 yearly encashments. After tax, NPS, PF & loans, monthly take home is far lower. Common myth about bank officers' settled life."

Another commented, "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."

A third user said, "Looking only at Form 16 without considering taxes, deductions, one-time benefits, and loan repayments can create a misleading picture. It's better to judge earnings by the actual monthly take-home and overall responsibilities, not just the headline number."

Echoing a similar sentiment, another user wrote, "A person's income can be accurately assessed not just from their gross salary, but from their actual take-home pay and responsibilities."

A fifth user added, "Gross salary doesn't tell the full story. Take home salary is what truly reflects actual earnings."