IOCL salary in hand for freshers/Engineers 2017

Indian Oil Corporation limited is one of the largest commercial enterprises in India. With a strong workforce of 30,000, IOC is fulfilling the energy demands of India. In the year 2016, Indian Oil Corporation was listed in prestigious “Global 500” at 161st position.

Indian Oil Corporation recently circulated the notice for the recruitment of Officers through GATE-2017. This article is mainly about the pay structure for the post of Engineers at Indian Oil Corporation with the short job description.

IOCL Engineers Job Profile

  • This recruitment is for the post of Engineers/Officers i.e. Grade A officers
  • The candidate must appear for GATE-2017 examination because the recruitment will be done strictly through the result of GATE-2017
  • Students with four years Engineer Degree in the streams of Chemical Engineering, Civil Engineering, Computer Science & Information Technology, Electrical Engineering, Electronics & Communications Engineering, Instrumentation Engineering, Mechanical Engineering, Metallurgical Engineering and Polymer Science & Engineering from recognized Institutes/University are eligible to apply for this post.

IOCL Salary for freshers

On successful appointment, engineers are placed in IDA pay scale of E3 (24900-50500) grade. The basic pay for the post of Engineers falling under Grade A is INR 24,900. The Dearness Allowance (D.A.) is 120.3% of the Basic Pay. The House Rent Allowance (H.R.A.) for the Officers depend on the class of city of posting. HRA varies from 10% to 30% of the basic pay of an employee. The cafeteria Approach given to the Engineers/Officers is 50% of Basic Pay. The total Cost to Company is INR 12 Lakhs. Here is the salary breakup for IOCL Officers.

Salary ComponentAmount in Rs
Basic pay24900
DA ( 120.3% of Basic pay as on 01.12.2016)29955
Perks (50% of Basic pay)12450
HRA (For metro cities)7470
EPF (12% of Basic pay plus DA)6418
Total Gross Salary in Rs81193

Facility available to IOCL Officers

  • Medical facilities for self and family members
  • Performance Related Pay (PRP)
  • Gratuity
  • Contributory Provident Fund
  • Employees’ Pension Scheme
  • Leave Encashment
  • Leave Travel Concession (LTC)/(LFA)
  • Group Personal Accident insurance scheme
  • Contributory Superannuation Benefit Fund
  • Conveyance Advance / Maintenance Reimbursement
  • Performance related incentives
  • Laptop at INR 50,000/-
  • Mobile Phone at INR 15,000/-
  • Furniture worth INR 1,20,000/-
  • INR 2600/- for two-wheelers
  • INR 5800/- for four-wheelers

Posting Places

The successful candidates can be placed anywhere in the registered office, corporate office, Refineries Division, Pipelines Division, Marketing Division, IBP Division or any other group IOC companies as per the enterprise requirements the details of which is given below.

Registered Office

  • Indian Oil Bhavan, Mumbai

Corporate office

  • New Delhi

Refineries Division

  • New Delhi (Delhi)
  • Begusarai (Bihar)
  • Vadodara (Gujarat)
  • Guwahati (Assam)
  • Midnapur (West Bengal)
  • Mathura (Uttar Pradesh)
  • Panipat (Haryana)
  • Dhaligaon (Assam)
  • Paradip (Odisha)

Pipelines Division

  • Noida (Head Office)
  • Panipat (Northern Region)
  • Rajkot (Western Region)
  • Chennai (Southern Region)
  • Kolkata (Eastern Region)

Marketing Division

  • Mumbai (Head Office)
  • New Delhi (Northern Region)
  • Kolkata (Eastern Region)
  • Mumbai (Western Region)
  • Chennai (Southern Region)

Assam Oil Division

  • Digboi (Assam)

IBP Division

  • Kolkata

Group Companies

  • Chennai Petroleum Corporation Limited (Chennai)
  • Indian Oil (Mauritius) Limited (Port Louis, Mauritius)
  • Lanka IOC PLC (Colombo, Sri Lanka)
  • IOC Middle East (Dubai, UAE)
  • Indian Oil – CREDA Biofuels Limited (Raipur)

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