Indian PSU Companies Salary For Freshers In 2023-2024

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Indian PSU Companies Salary For Freshers

Hi Guys, You can get all top Indian PSU companies which pay top salary to freshers.

This is approximate pay scale for fresher’s which are offered.

This page contains information related to salary structure of various PSUs for different positions(Management Trainee (MT), Graduate Apprentice Engineers(GAE),Engineers Executive Trainees (EET),Graduate Trainee (GT),Engineer Trainees (ET)Graduate Engineers (GE),Executive Trainees (ET),Technical Officer (C),Trainee Engineers) in India.

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Try to understand your salary Calculation and know some truth about PSU companies

Take home salaries are different from the package or cost to company salary definitions.
PSU’s are not for brain stormer or proving one’s cally. It is a place of team work, team responsibility and having average salary.
PSU’s are classified into Maharatna, Navratna, Miniratna based on their financial profibitality.
Mid level entries are difficult and quite less at PSU’s. So you have to try for entry level only(through competition exams and vacancy declared)
Salary at PSU have Basic Pay+ DA+ Perks+HRA/Quarter accommodation+Medical facilities+CPF(Company pay equal amount to your contribution to PF fund)+Gratuity+Yearly PRP(Bonus) depending on performance of company,unit and your gradings.
Current industrial DA is around 91%(it varies companies to companies).
Perks will be around 46 % of basic pay (it varies companies to companies)..
Company owned accommodation is provided wherever
townships are located. Type of quarter depends upon the
grade and seniority. Employees who reside in own house
may avail self-lease facility within prescribed rental ceilings.
Monthly recovery is made for company owned and leased
accommodation, which depends upon the carpet area and the
Employees who stay in rented accommodation are
paid HRA as per classification of city as notified by
Government :30% of basic pay, if posted in Mumbai, Delhi, Kolkata and
Chennai ,25% of basic pay, if post in other ‘A’ class cities. 22-
1/2% of basic pay, if post in B-1 class cities. 17-1/2% of basic
pay, if post in B-2 class cities. 15% of basic pay, if posted in C
and unclassified cities.Hope you to calculate accordingly and take decision.

Explanation 1 of salary for fresher:

Suppose anybody joined as Deputy Engineer in the payscale of 16400-500-40500. Say for example employee X joined in BE as E-II . How much he can expect salary per month?
Let me explain. 16400 is your basic pay. You will additionally get DA and HRA along with Basic pay each month. Approximately you will get near 35+ according to today’s rate of DA and HRA(depends on branch location). Other than this, you will be getting LTA(Leave travel allowance) of ~20k, PDA(Professional Development Allowance) of ~20k once in a year. There is one more thing called PRP(Performance Related Pay) for which you are eligible to get ~80k based on your performance ratings, but generally people in E-II grade get very less. Nearly 20k around as of last year.

All in all, CTC on paper will be around 5.5L per annum out of which you can get direct benefit of nearly 5L per annum.

500 is the increment you will get in your basic pay at the end of each year upto three years after 6 months of probationary period. After 3 years and 6 months you will be promoted as Senior engineer, only when your pay scale will increase. I think this information will help to calculate you monthly salary.

Explanation 2 of salary for fresher:
Suppose X employee is in Y company and his Basic is 9300. There is another component in salary of government jobs which is called Dearness Allowance or D.A. which is typically 120% of Basic( varies from 80 to 120 companies to companies so 120% of 9300 = 11160.
so, total = 9300 + 11160 = 20460, this is gross salary per month.
Take home salary should be gross – employee’s provident fund contribution – income tax – professional tax
EPF is usually 12.5% of Basic.
Again roughly take home salary = 19000.
Grade pay means if you get promoted to the next grade / band / role / position, your basic will be increased by Rs 4600, so the new basic will become 13900. DA will again be 120% of this, so in effect gross salary will increase by corresponding amount.
34800 is the highest basic salary level for this job.
In government jobs, usually Basic does not increase every year, the DA increases/ decreases every quarter along with the inflation rate. So, the Basic and in effect Gross salary gets increased considerably only when people get promotion, say every 4/5 years. I hope, it’s somewhat clearer now.

Explanation 3 of salary for fresher:

Employee Pay Band is : 5200-20200, Grade Pay 2800.

The government employees salary contains various component viz
a) Basic Pay
b) Grade Pay
c) Dearness Allowance
d) House Rent Allowance
e) LTA
f) Perquisites etc.

a) BASIC PAY
In your question the pay band would be 5200-3%-20200 and grade pay is 2800. This symbolizes the following:
5200 denotes: The initial basic pay which you will receive as soon as u join the govt department .
3% denotes: The amount of hike that you will receive to meet the inflation every year i.e. you will get a salary hike of 3% every year in the same cadre/designation.
20200 denotes : The highest basic you can get in the same cadre/designation would be 20200/-. However before reaching 20200/- you ll be promoted to next cadre/ rank having salary slab like 6400-3%-26200.

b) GRADE PAY
Grade pay is amount paid in excess of basic pay to meet the inflation i.e. Rs 2800/-.

c) DEARNESS ALLOWANCE
The dearness allowance is the fixed percentage of pay on basic+grade pay fixed by govt at every interval. In case of PSU DA is revised after every three months and in case of state govt and central govt employees, it is revised once in six months. Current DA for central govt employees is 119% of the basic + GP.

d) HOUSE RENT ALLOWANCE
The payment of HRA varies from govt org/department to department. Further the HRA rate also varies from place to place. There are 3 percentage of HRA based on the population and price index of particular area. In metropolitan cities the HRA is 30% of the Basic +GP, however in part B Cities it is 15% and remaining area it is 10%. It is not out of place to mention that if you are provided with government quarter, then HRA will not be paid. You need to confirm it from your HR.

The net pay of the person in the same organisation in the same cadre may varies due to difference in payment of HRA, perquisites etc. Suppose if you are posted in remote area , you may get some remote area allowance which the other person may not get. It all depends on the department /organisation policies.

The minimum pay you ll receive if you join in the aforesaid mentioned grade pay will be (5200+2800*2.19)= 17520/- (Only basic + GP+DA).

For rest details like perquisites, other allowances you need to contact your HR.
I hope that this information provided by me is useful for you guys.
7th Pay commission will be effective from 1 January 2016, How your salary will get impacted:

Salary will hike by 30-40%. Because in 7th pay revision , your basic will be doubled by merging your DA in basic, but then DA come down to 0%. So then this basic pay will only increase your perks and that will be reflected in your salary.
For Example : In basic of 24900/- the gross salary of employee is 55k to 60k (depends on perks of that organization).
But after 7th pay revision this same basic will be doubled(approx). Then salary will be calculated as follows.
(24900*2)(basic)+0(DA)+24900*2*45%(45% perks) = 75k (approx).
So this new salary is around 30% more of old salary.

Pay Scale of Rs. X(minimum starting basic ) – Y(maximum ending basic) Per month for Freshers( Approximate starting salary you will get is 2.2 time X per month)

Bharat Heavy Electricals Limited Fresher Salary – 20,600 – 46,500
Bharat Petroleum Corporation Limited(BPCL) Fresher Salary – 23,000 – 46,500
Coal India Limited (CIL) Fresher Salary – 16,400 – 40,500
Indian Oil Corporation (IOCL) Fresher Salary – 24900-50500
National Thermal Power Corporation (NTPC) Fresher Salary- 24900-50500
Oil and Natural Gas Corporation Ltd. (ONGC) Fresher Salary 24900-50500
Hindustan Petroleum Corporation Limited (HPCL) Fresher Salary 24900-50500
Gas Authority of India Ltd. (GAIL) Fresher Salary 24900-50500
National Aluminium Company Ltd. (NALCO) Fresher Salary 16,400 – 40,500
Bharat Electronics Limited (BEL) Fresher Salary 16,400 – 40,500
Hindustan Aeronautics Limited (HAL) Fresher Salary 16,400 – 40,500
National Fertilizes Limited (NFL) Fresher Salary 16,400 – 40,500
Mazagon Dock Limited (MDL) Fresher Salary 16,400 – 40,500
PowerGrid Corporation of India (PGCIL) Fresher Salary Awaited
Steel authority of india (SAIL) Fresher Salary 20,600 – 46,500
Mineral Exploration Corporation Ltd (MECL)Fresher Salary 16,400-40,500
Visakhapatnam Steel Plant (VIZAG) Fresher Salary Awaited
Central Electronics Limited (CEL) Fresher Salary 16,400 – 46,500
Rail India Technical and Economic Service Limited (RITES) Fresher Salary 20,600 – 46,500
Rail India Technical and Economic Service Limited (RITES) Fresher Salary 37,400-67,000
Indian Space Research Organisation (ISRO) Fresher Salary 15600-39100 with grade pay of Rs 5400
Projects & development India Limited (PDIL) Fresher Salary 37000
Rail India Technical and Economic Service Limited (RITES) Fresher Salary 24,900 – 50,500
Container Corporation of India Limited(CCIL) Fresher Salary Gross Total – 31000
Engineers India Limited(EIL) Fresher Salary 20,600-46500
National Buildings Construction Corporation Limited(NBCC) Fresher Salary Awaited
NMDC Limited Fresher Salary Awaited
Neyveli Lignite Fresher Salary 20,600-46,500
Corporation Limited Fresher Salary Awaited
Oil India Limited Fresher Salary Awaited
Power Finance Corporation Limited Fresher Salary 24,900-50,500
Rashtriya Ispat Nigam Limited Fresher Salary Awaited
Rural Electrification Corporation Limited Fresher Salary 20500-26500
Shipping Corporation of India Limited Fresher Salary 20,600-46500
Airports Authority of India Fresher Salary Awaited
Antrix Corporation Limited Fresher Salary Awaited
Balmer Lawrie & Co. Limited Fresher Salary Awaited
Bharat Coking Coal Limited Fresher Salary Awaited
Bharat Dynamics Limited Fresher Salary Awaited
BEML Limited Fresher Salary Awaited
Bharat Sanchar Nigam Limited Fresher Salary 16,400-40,500
Bridge & Roof Company (India) Limited Fresher Salary Awaited
Central Warehousing Corporation Central Coalfields Limited Fresher Salary Awaited
Chennai Petroleum Corporation Limited Fresher Salary Awaited
Cochin Shipyard Limited Fresher Salary Awaited
Dredging Corporation of India Limited Fresher Salary Awaited
Kamarajar Port Limited Fresher Salary Awaited
Garden Reach Shipbuilders & Engineers Limited Fresher Salary Awaited
Goa Shipyard Limited Fresher Salary Awaited
Hindustan Copper Limited Fresher Salary Awaited
HLL Lifecare Limited Fresher Salary Awaited
Hindustan Newsprint Limited Fresher Salary Awaited
Hindustan Paper Corporation Limited Fresher Salary Awaited
Housing & Urban Development Corporation Limited Fresher Salary Awaited
India Tourism Development Corporation Limited Fresher Salary Awaited
Indian Rare Earths Limited Fresher Salary Awaited
Indian Railway Catering & Tourism Corporation Limited Fresher Salary Awaited
IRCON International Limited KIOCL Limited Fresher Salary Awaited
Mazagaon Dock Limited Mahanadi Coalfields Limited Fresher Salary 16,400-40,500
Manganese Ore (India) Limited Fresher Salary Awaited
Mangalore Refinery & Petrochemical Limited Fresher Salary Awaited
Mishra Dhatu Nigam Limited Fresher Salary Awaited
MMTC Limited Fresher Salary Awaited
MSTC Limited Fresher Salary Awaited
National Fertilizers Limited Fresher Salary Awaited
National Seeds Corporation Limited Fresher Salary Awaited
NHPC Limited Fresher Salary
Northern Coalfields Limited Fresher Salary Awaited
North Eastern Electric Power Corporation Limited Fresher Salary
Numaligarh Refinery Limited Fresher Salary Awaited
ONGC Videsh Limited Fresher Salary Awaited
Pawan Hans Helicopters Limited Fresher Salary Awaited
Projects & Development India Limited Fresher Salary Awaited
Railtel Corporation of India Limited Fresher Salary Awaited
Rail Vikas Nigam Limited Fresher Salary Awaited
Rashtriya Chemicals & Fertilizers Limited Fresher Salary Awaited
RITES Limited Fresher Salary 16,400-40,500
SJVN Limited Fresher Salary Awaited
Security Printing and Minting Corporation of India Limited Fresher Salary Awaited
South Eastern Coalfields Limited Fresher Salary Awaited
State Trading Corporation of India Limited Fresher Salary Awaited
Telecommunications Consultants India Limited Fresher Salary Awaited
THDC India Limited Fresher Salary Awaited
Western Coalfields Limited WAPCOS Limited Fresher Salary Awaited
Bharat Pumps & Compressors Limited Fresher Salary Awaited
Broadcast Engineering Consultants (I) Limited Fresher Salary Awaited
Central Mine Planning & Design Institute Limited Fresher Salary Awaited
Central Railside Warehouse Company Limited Fresher Salary Awaited
CIL (India) Limited Fresher Salary Awaited
Engineering Projects (India) Limited Fresher Salary Awaited
FCI Aravali Gypsum & Minerals India Limited Fresher Salary Awaited
Ferro Scrap Nigam Limited Fresher Salary Awaited
HMT (International) Limited Fresher Salary Awaited
HSCC (India) Limited Fresher Salary Awaited
India Trade Promotion Organisation Indian Medicines & Pharmaceuticals Corporation Limited Fresher Salary Awaited
M E C O N Limited Fresher Salary Awaited
Mineral Exploration Corporation Limited Fresher Salary 16,400-40,500
National Film Development Corporation Limited Fresher Salary Awaited
National Small Industries Corporation Limited Fresher Salary Awaited
National Aluminum Company Limited (NALCO) Fresher Salary 16,400-40,500
Bharat Earth Movers Limited (BEML Limited ) Fresher Salary 16,400-40,500
Mazagaon Docks Limited Fresher Salary 16,400-40,500
National Hydroelectric Power Corporation(NHPC) Limited Fresher Salary 20,600-46500
Airport Authority Of India Limited (AAI) Fresher Salary 16,400-40,500
Defense Research & Development Organization (DRDO) Fresher Salary 15,600-39,100
Bhabha Atomic Research Centre (BARC) Fresher Salary 15,600-39,100
Electronics Corporation of India Limited (ECIL) Fresher Salary 16,400-40,500
Delhi Metro Rail Corporation (DMRC) Fresher Salary 20,600-46500
Mahanagar Telephone Nigam Limited (MTNL) Fresher Salary 24,900-50,500
National Productivity Council(NPC) Fresher Salary 15,600-39,100 Grade Pay 5400
Indian Railways Fresher Salary 9.300-34,800 Grade pay 4200
Bank Note Paper Mill India Private Limited (BNPM) Fresher Salary 9.300-34,800 Grade pay 4200
Staff Selection Commission Fresher Salary 300-34,800 Grade pay 4200
Engineering Services Examination(UPSE-ESE) Fresher Salary 15,600-39,100 Grade pay 5400
Vishakhapatnam Steel Plant(VIZAG) Fresher Salary 20,600-46,500

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