PSU Salary Structure, Graduate Engineers Salary Structure in Top Govt PSU
PSU Salary Structure for Engineers: The Government Public sector enterprises are the simplest option to work because of security, pay package and amenities for the young energetic graduate engineers in Republic of India. the highest Central Public sector enterprises are paying over ten lakh once a year package to engineering graduates simply after the appointment with the corporate.
The pay revision for Central Public Sector Enterprises is ready by Government appointed the committee that is often referred to as PRC (Pay revision Committee). On the premise of the committee report, Govt of India takes the decision on pay revision of workers of PSUs.
As all the Central Public-sector Enterprises are corporations registered underneath the company Act. Therefore the govt. typically doesn’t give financial support to those PSUs. Therefore their pay revision all depends on the affordability of the corporate. It conjointly implies that financially weak company might not afford the pay revision burden and therefore they’re unengaged to not implement a similar due to financial constraints. Whereas the businesses with sound monetary status could give the simplest compensation to its workers within the market, typically it’s going to be higher than private MNCs.
Top PSU Pay Scales for Engineers:
|PSU Company Name||Grades||Salary||Initial Basic Pay in INR||Approx Gross Pay Scale per Month|
|Oil and Natural Gas Corporation (ONGC)||Assistant Executive Engineer||60,000 to 1,80,000||60,000||120k to 150k (The CTC per annum would be higher than 15 Lakh)|
|National Thermal Power Corporation Limited (NTPC)||Executive Trainee|
|Bharat Petroleum Corporation Limited (BPCL)||Management Trainees|
|Hindustan Petroleum Corporation Limited (HPCL)||Officers|
|Indian Oil Corporation Limited (IOCL)||Engineers/Officers|
|Oil India Limited (OIL)||Executive Trainees|
|Gas Authority of India Limited (GAIL)||Graduate Trainees (GTs)|
|Power Grid Corporation of India Limited (PGCIL)||Executive Trainee|
|Bharat Heavy Electricals Limited (BHEL)||Engineer Trainee|
|Engineers India Limited (EIL)||Engineer/Officer|
|National Aluminium Company Limited (NALCO)||Graduate Engineer|
|Power System Operation Corporation Limited (POSOCO)||Executive Trainee|
|Neyveli Lignite Corporation Limited (NLC)||Graduate Executive Trainee||50,000 to 160,000||50,000||100k to 120k ( Here to Cost to Company would be more than 12 Lakh)|
|Coal India Limited (CIL)||Management Trainees|
|National Hydroelectric Power Corporation(NHPC)||Graduate Engineers|
|Hindustan Aeronautics Limited (HAL)||Management Trainee||40,000 to 1,40,000||40,000||80k to 100k (The Package for these CPSEs would be greater than 10 Lakh per year.)|
|Mazagon Dock Shipbuilders Limited (MDL)||Graduate Trainees|
|National Buildings Construction Corporation Limited (NBCC)||Management Trainee|
|Bharat Electronics Limited (BEL)||Deputy Engineer|
|Telecommunication Consultants of India Limited (TCIL)||Engineer|
|Bharat Broadband Network Limited (BBNL)||Executive Trainee|
|Bharat Earth Movers Limited (BEML)||Management Trainee|
|Airport Authority of India (AAI)||Junior Executive|
|Dredging Corporation of India (DCI)||Assistant Manager|
|Railtel Corporation of India||Deputy Manager|
Overview of Salary Payscale in PSU Companies:
Every government is functioning on a pay scale. It’s a variety of basic pay within which worker is mounted. This is often conjointly a sign of employees rank, gross salary, facilities etc. Same is shown within the third column of the on top of table.
Pay scales are revised once each ten years. The govt of India already given its nod for the third Pay Revision Committee report implementation within the Public Sector Enterprises. The highest PSU staff might get the hike of 15 percent within the basic pay from the 01 January 2017.
It is the particular current basic pay of an worker. On the idea of basic pay, different advantages like dearness allowances, perks, performance connected pay, House rent allowances, medical facilities, travel allowances are calculated.
If you see and compare the pay package pattern of a non-public MNC and a Government Company, one would realize that a Govt firm provides higher basic pay as compare to private Company. Higher Basic pay means that the great authority and an honest yearly hike within the emoluments.
Current Industrial dearness allowance rate is 114.8. It’s calculated on the idea of All India consumer price index (AICPI). The economic dearness allowance gets revise fourfold within the year by the govt of India on the premise of All India consumer price index.
House Rent Allowance (HRA):
The House rent allowance rates for the general public Sector Undertakings workers are 8 percent, 16 percent based on the category of town.
Perks are typically provided by profit-making Government PSUs to their workers. It varies from a corporation to company.
It is a kind of retirement fund theme during which contribution from the employee additionally as the same quantity from the employer is deposited to employees EPF account on monthly basis. The present rate is 12 percent of Basic Pay and IDA. It means that monthly total 24 percent of basic pay and DA is deposited in employee’s account.
Apart from these edges Public sector workers get Leave Travel Concessions, the Medical facility for worker & his /her dependents, Superannuation profit (Retirement benefit), Gratuity etc.
I have tried to incorporate the most advantages offered to public sector employees; they might be a lot of from company to company. Within the case of any doubt please be at liberty to comment.