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
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)
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