Nowadays many Graduate engineers want to join the Government PSUs for a Job due to Job security, better salary structure & good facility etc. As most of us thinking that all government Companies may have the same pay scale for Graduate engineers but it’s not true at all.
The pay revision for Central Public Sector Enterprises is prepared by Government appointed the committee which is commonly known as PRC (Pay revision Committee). On the basis of the committee report, Govt of India takes the decision on pay revision of employees of PSUs. As all the Central Public sector Enterprises are Companies registered under Company Act. Hence government usually doesn’t provide monetary support to these PSUs. Hence their pay revision totally depends on the affordability of the Company. It also means that financially weak company may not afford the pay revision burden and hence they are free to not to implement the same due to financial constraints. Whereas the companies with sound financial status may provide the best compensation to its employees in the market, sometimes it may be better than private MNCs.
Read also: 3rd PRC Estimated Salary
Pay scales of TOP PSUs for engineers
|PSU Name||Name of the Post||Pay Scale||Initial Basic Pay in Rs||Approx Gross salary per Month|
|Oil and Natural Gas Corporation (ONGC)||Assistant Executive Engineer||24900-50500||24900||70k to 80k|
|National Thermal Power Corporation Limited (NTPC)||Executive Trainee||24900-50500||25650||70k to 80k|
|Bharat Petroleum Corporation Limited (BPCL)||Management Trainees||24900-50500||24900||70k to 80k|
|Hindustan Petroleum Corporation Limited (HPCL)||Officers||24900-50500||24900||70k to 80k|
|Indian Oil Corporation Limited (IOCL)||Engineers/Officers||24900-50500||24900||70k to 80k|
|Oil India Limited (OIL)||Executive Trainees||24900-50500||24900||70k to 80k|
|Gas Authority of India Limited (GAIL)||Graduate Trainees (GTs)||24900-50500||24900||70k to 80k|
|Power Grid Corporation of India Limited (PGCIL)||Executive Trainee||24900-50500||24900||70k to 80k|
|Neyveli Lignite Corporation Limited (NLC)||Graduate Executive Trainee||20600-46500||20600||60k to 70k|
|Steel Authority of India Limited (SAIL)||Management Trainee||20600-46500||20600||60k to 70k|
|Hindustan Aeronautics Limited (HAL)||Management Trainee||16400-40500||16400||60k to 70k|
|Bharat Heavy Electricals Limited (BHEL)||Engineer Trainee||24900-50500||24900||70k to 80k|
|Coal India Limited (CIL)||Management Trainees||20600-46500||20600||60k to 70k|
|National Hydroelectric Power Corporation(NHPC)||Graduate Engineers||20600-46500||20600||60k to 70k|
|Mahanagar Telephone Nigam Limited (MTNL)||Junior Telecom Officer (JTO)||20600-46500||20600||50k to 60k|
|Mazagon Dock Shipbuilders Limited (MDL)||Graduate Trainees||16400-40500||16400||50k to 60k|
|National Buildings Construction Corporation Limited (NBCC)||Management Trainee||16400-40500||16400||50k to 60k|
|Bharat Sanchar Nigam Limited (BSNL)||Junior Telecom Officer (JTO)||16400-40500||16400||45k to 55k|
|Bharat Electronics Limited (BEL)||Deputy Engineer||16400-40500||16400||45k to 55k|
Components of salary in PSUs
Every executive is working on a pay scale. It is a range of basic pay in which employee is fixed. This is also an indication of employees rank, gross salary, facilities etc. Same is shown in the 3rd column of above table. Pay scales are revised after every 10 years. Next pay revision is due from 01.01.2017.
It is actual current basic pay of an employee. On the basis of basic pay other benefits like Dearness allowances, perks, performance related pay, House rent allowances, medical facilities, travel allowances are calculated. So high basic pay means higher CTC.
It is the percentage of basic pay which is added on basic pay for salary purpose. Current Industrial dearness allowance rate is 114.8.It is calculated on the basis of All India Consumer Price Index (AICPI). It is revised 4 times in a year & generally increased on the basis of AICPI data.
House rent allowances are applicable to employees who are not provided Company accommodation. Current HRA rates are 10%, 20% & 30% based on the location/city of posting of an employee.
Perks are generally provided by profit making Government PSUs to their employees. It varies from a company to company.
It is a type of retirement benefit scheme in which contribution from the employee as well as the same amount from the employer is deposited to employees EPF account on monthly basis. The current rate is 12% of Basic Pay plus IDA. It means every month total 24% of basic pay plus DA is deposited in employee’s account.
Apart from these benefits Public sector employees get Leave Travel Concessions, Medical facility for employee & his /her dependents, Superannuation benefit (Retirement benefit), Gratuity etc.
I have tried to include main benefits available to public sector employees; they could be more from company to company. In the case of any doubt please feel free to comment.
Read it also: