Recently Coal India Limited (CIL) started inviting applications for the post of MANAGEMENT TRAINEES, the recruitment for which will be done through online applications mode.
Now many applicants must be wondering about the pay scale and salary of the MANAGEMENT TRAINEE POST. This article includes all the details of this post that you need to know.
Coal India Limited (CIL) is one of the largest Maharatna PSU Company in India headquartered in Kolkata, West Bengal. It is the largest coal producing company in the world.
This is the post of MANAGEMENT TRAINEE in E2 grade. It means selected candidates will be appointed in a Junior Management level of the company. They get fast time bound promotions up to some level.
Places of POSTING
Management Trainee PAY Scale
- The pay scale for the post of MANAGEMENT TRAINEE in E2 grade will be Rs. 20,600-46,500 at the initial basic pay of Rs. 20,600 during the period of the first year i.e., Training Period.
- After the successful completion of training, the candidates will be standardized to E3 grade wherein the pay scale will be Rs. 24,900-50,500 at the initial basic pay of Rs. 24,900 with probation for one
The details structure of the pay scale or CTC (Cost To Company) at minimum and maximum of each grade is mentioned in the table below.
|Salary Component||First Year Amount in Rs||After 1st year completion|
|DA ( 120.3% of Basic pay as on 01.12.2016)||24781||29955|
|Perks (approx 50% of Basic pay)||10300||12450|
|EPF (Employers contribution 12% of Basic pay plus DA)||5446||6583|
|Total Gross Salary in Rs per month||61127||73888|
In addition to above salary new Management Trainee also get company accommodation or HRA, Performance related pay, superannuation benefits, Leave traveling allowances etc. These Allowances may vary depending on the place of posting, the performance of company & individual. The total CTC of a CIL MT post will be more than 9 Lakh which is a very nice amount for a fresh graduate.
OTHER IMPORTANT JOB Conditions
- The candidates will have to serve the company for a minimum period of 5 years. An amount of Rs. 5000/- will be debited from candidate’s salary for 60 months. For this, the candidates need to sign a Service Agreement Bond.
- The successful candidates will have to go through a medical examination conducted by the medical board of the company and any decision made by the board will be final.