Vizag steel is also known as Rashtriya Ispat Nigam limited had recently made announcement that it will recruit Management Trainee in group A or class I cadre of the Company. I want to make sure that this group A cadre is not a Gazetted Officer post.
Vizag steel isn’t earning profits, hence not able to implement the 3rd PRC guidelines for their employees. During the financial year 2016-17, the company had a gross income of Rs 12,679.03 Crore and the net loss to the firm was Rs 1,263.16 Crore in the same period. Due to these losses, the company does not meet with the 3rd Pay Revision guidelines and hence not able to implement the same. Hence executives still drawing the salary as per the 2nd PRC pay guidelines.
RINL MT Salary
The newly recruited Management Trainee placed for a one whole year training in the Vizag Steel Plant. During the training time, an MT get paid according to the pre-revised pay scale of 20,600 – 46,500. After the satisfactory performance in the training, an MT put on the probation period of one year and after the completion of one year training period, they finally confirmed as the regular employee of the Navratna PSU.
Management Trainee in Vizag steel is a lower level management post for which is appointments done in The IDA pattern of pay scale 24,900 – 50,500. The RINL MT get the initial pay of Rs 24,900/- per month and they are also eligible for DA, HRA, Provident Fund, perks and allowances as per the government rules.
The detailed salary information is hereunder.
|Salary Part||During Training||After Appointment|
|Grade||Group A/ Class-I|
|Pay Scale||20,600 – 46,500||24,900 – 50,500|
|Initial Basic Pay||20,600||24,900|
|Minimum Monthly Gross Salary in Rs||60,600/-||74,900/-|
So a newly appointed management trainee get the total salary of Rs 74,900/- per month.
- 2 Wheeler/ Car Advance, Home or Plot loan at a lower interest rate
- Bonus (Based on earning profits Margin)
- Cashless Medical Facility at Company authorized Hospitals for the Employee and dependents
- Employee’s Children Education Allowance
- Festival Advance
- Insurance for the employee
- Leave Travelling Allowance for hometown & on a Vacation once in a four year
- Rent Free Mobile & Internet Connection
- Retiring Benefits
- Subsidized canteen facility
- Transport Allowances for office
Vizag steel pay scales & promotion
The Rashtriya Ispat Nigam Limited follow the IDA scale pay pattern which is governed by the Department of Public Enterprises guidelines. The pay of RINL executive not yet revised which were due for revision from the 01.01.2017.
The existing pay and proposed revised pay bands are shown here in the table.
|Vizag Steel Executives Pay Scales|
|Grade||Existing Pay Scale||Proposed Pay Scales from 01.01.2017|
|E0||16,400 – 40,500||40,000 – 1,40,000|
|E1||20,600 – 46,500||50,000 – 1,60,000|
|E2||24,900 – 50,500||60,000 – 1,80,000|
|E3||32,900 – 58,000||80,000 – 2,20,000|
|E4||36,600 – 62,000||90,000 – 2,40,000|
|E5||43,200 – 66,000||1,00,000 – 2,60,000|
|E8||51,300 – 73,000||1,20,000 – 2,80,000|
|E9||62,000 – 80,000||1,50,000 – 3,00,000|
|Director||75,000 – 1,00,000||1,80,000 – 3,40,000|
|CMD||80,000 – 1,25,000||2,00,000 – 3,70,000|
*For the Grade E-6 & E-7 the pay scales are provisionally fixed at the max of Rs.68,000/- and Rs.70,000/- respectively.