Not long ago POWERGRID circulated the recruitment notice for the post of Executive Trainee-22nd Batch in the discipline of Electricals, Electronics, Civil and Computer Science. This article enlightens the pay structure of newly recruited engineers in POWERGRID Corporation. The Power Grid Corporation of India Limited (POWERGRID), a Navratna Company, is one of the largest Transmission Utilities in the world. Of the total power generated in India, POWERGRID alone transmits about 50% of it. It is headquartered in Gurgaon, India.
PGCIL Executive Trainee Salary in Hand
Power Grid Corporation of India provides best CTC among government PSUs. The basic pay of newly recruited ET will start from Rs 24900 on the E2 pay scale (24900-50500). On that basic pay, the employees will also get Dearness allowances, House Rent allowances, Provident Fund, superannuation benefits, gratuity etc. You can get the salary breakup for the Executive Trainees of PGCIL in below table.
|Salary Component||Amount in Rs|
|Initial Basic Pay||24900|
|DA ( 120.3% of Basic pay as on 01.08.2016)||29955|
|Perks (49% of Basic Pay)||12201|
|HRA (30% for Metro city)||7470|
|EPF (Employers contribution 12% of Basic pay plus DA)||6418|
|Total Gross Salary in Rs||80944|
After the implementation of 2nd PRC POWER GRID Corporation had revised the pay scales of the Officers post which came into effect from 01.01.2007. The details of the pay scales for an Executive position at PGCIL is mentioned in the points below:
PGCIL PAY SCALES for Executives from 01.01.2007
- The existing structure of grades and entitlements in the case of executives will remain same wherever there is a sharing of pay scales.
- Applications for board level posts in Schedule A CPSEs shall be provided to Public Enterprise Selection Board in respect of executives in E8 and above grades only.
- The rate of annual increment in the revised scales of pay shall be 3% of the basic pay rounded off to the next multiple of INR 10/-
- The current and corresponding revised scale of pay effective from 01.01.2007 for the Engineers are mentioned in the table below:
|Grade||Pay Scales from 1997 (Rs.)||DPE Grade||Pay Scales from 2007 (Rs.)|
|E1||10,750 - 16,750||E2||20,600 - 46,500|
|E2||11,225 - 17,250||E3||24,900 - 50,500|
|E2A||12,000 - 17,500||E3||24,900 - 50,500|
|E3||13,750 - 18,700||E4||29,100 - 54,500|
|E4||16,000 - 20,800||E5||32,900 - 58,000|
|E5||17,500 - 22,300||E6||36,600 - 62,000|
|E6||18,500 - 23,900||E7||43,200 - 66,000|
|E7||19,000 - 24,750||E8||51,300 - 73,000|
|E7A||19,500 - 25,600||E8||51,300 - 73,000|
|E8||20,500 - 26,500||E8||51,300 - 73,000|
|E9||23,750 - 28,550||E9||62,000 - 80,000|
The Dearness Allowance in the Revised pay scales as on 01.01.2007 shall be zero, linked to All India Consumer price Index (AICPI) 2001 = 100 which is 126.33 as on 01.01.2007. The period of adjustment shall be once in three months as per the existing practice. The current rate of dearness allowances is 120.3%.
The stagnation increment will be included for the purpose of basic pay the right of which shall be 3% of the revised basic pay rounded off to next multiple of INR 10/-.The officers are allowed to draw a maximum of three stagnation increments, one after every two years, upon reaching the maximum of the revised pay scale provided the executives get a performance rating of “Good” or above. Stagnation increments shall be treated as basic pay for all purposes except for further stagnation increments and promotion benefit.
HOUSE RENT ALLOWANCE (HRA)
The house rent allowance (HRA) is at the following rates:
|Cities Population||HRA % of Basic Pay|
|50 Lakh and Above||30%|
|5 to 50 Lakh||20%|
|Less than 5 Lakh||10%|
CITY COMPENSATORY ALLOWANCE
The city compensatory allowance was abolished from 26.11.2008
Employer’s, as well as employee’s contribution to the provident fund, will be active by the revised pay and DA.
OTHER PERKS AND ALLOWANCES
The profit making Navratna & Maharatna Companies are not only paying high CTC but also providing many extra facilities to their officers. The Power Grid extends many benefits to employees which are the best among the whole government sector. Here are the few of them
- Benefits of cafeteria approach limited to 49% of basic pay
- Locational Allowances
- Performance Related Pay
- Telephone/Mobile Facility
- Conveyance Reimbursement
- Medical facilities, Group Insurance
- Personal Accident Insurance
- Short and Long Term Loans & Advances
- Company Car
- Superannuation Benefit