PSU Salary Structure 2024 – Perks, Allowances, Salary in Hand

“What is the salary structure for various PSUs?
What is the salary in hand for various PSUs?
What is the CTC for various PSUs?
You all must have this kind of questions in your mind. Below article will solve this puzzle of yours. Just take a look.”

PSU Salary Structure 2024 – Here we are providing detailed information about various PSU salary structure (pay scale & perks) for newly recruited engineers. Public sector undertaking (PSUs) recruiting thousands of engineers every year for various kind of posts as per their requirement.

Different-different PSU’s offer different-different positions to engineers with different salary structure after clearing all stages of selection decided by PSUs.

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PSU jobs are now one of the dream jobs for engineering graduates. One of the major reason of being dream job is PSUs providing tremendous employment opportunities in various technical and management areas where selected engineers can use their technical and managerial skills very well and work better for company.

Apart from this PSUs provides Job security, Good work environment, Holiday’s same as govt. jobs, Dearness Allowance, CPF Allowance, Pension schemes, Medical benefits & many more other benefits.

PSUs also offer good salary structure and CTC range from 5 lakhs to 14 lakhs at initial level of selection. Here we are providing entry level salary in PSUs like ONGC, IOCL, BHEL, GAIL, SAIL, CIL, HPCL and many more.

1. Maharatna, Navratna and Miniratna Companies

A good GATE (Graduate Aptitude Test in Engineering) score is your ticket to get PSU jobs in many Maharatna, Navratna & Miniratna companies.

Public Sector undertakings (PSUs) or CPSEs are mainly divided on the basis of their financial performance, net worth, revenue, profit etc. PSU companies are divided into three categories :

• Maharatna, Navratna & Miniratna Companies in India List 2024

1.1 Maharatna Companies

1. Indian Oil Corporation Limited (IOCL)
2. Bharat Petroleum Corporation Limited (BPCL)
3. Oil and Natural Gas Corporation Limited (ONGC)
4. Steel Authority of India Limited (SAIL)
5. National Thermal Power Corporation Limited (NTPC)
6. Coal India Limited (CIL)
7. Bharat Heavy Electricals Limited (BHEL)
8. Gas Authority of India Limited (GAIL)
9. Power Grid Corporation of India Limited (POWERGRID)

1.2 Navratna Companies

1. Hindustan Petroleum Corporation Limited (HPCL)
2. Bharat Electronics Limited (BEL)
3. Bharat Heavy Electricals Limited (BHEL)
4. Container Corporation of India Limited (CONCOR)
5. Engineers India Limited (EIL)
6. Mahanagar Telephone Nigam Limited (MTNL)
7. National Aluminium Company Limited (NALCO)
8. National Buildings Construction Corporation Limited (NBCC)
9. National Mineral Development Corporation Limited (NMDC)
10. Neyveli Lignite Corporation Limited (NLC)
11. Oil India Limited (OIL)
12. Power Finance Corporation Limited (PFC)
13. Rural Electrification Corporation Limited (REC)
14. Shipping Corporation of India Limited (SCI)
15. The State Trading Corporation of India Limited (STC)

Miniratna Companies: There are two categories of Miniratna companies: Category-I and Category-II. Here are a few examples from each category:

1.3 Miniratna Category-I

1. Bharat Earth Movers Limited (BEML)
2. Hindustan Aeronautics Limited (HAL)
3. National Small Industries Corporation Limited (NSIC)
4. National Seeds Corporation Limited (NSC)
5. Northern Coalfields Limited (NCL)

1.4 Miniratna Category-II

1. Airports Authority of India (AAI)
2. Chennai Petroleum Corporation Limited (CPCL)
3. Export Credit Guarantee Corporation of India Limited (ECGC)
4. Kudremukh Iron Ore Company Limited (KIOCL)
5. Mazagon Dock Shipbuilders Limited (MDL)

2. Difference Between CTC and In Hand Salary

The Basic difference between CTC and In Hand Salary / Take Home Salary is:

CTC = Direct benefits + indirect benefits + saving contributions

In Hand Salary = Direct benefits – employee PF – other deductions if any – income tax

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Here we are providing salary structure of various PSUs for different positions such as Graduate Trainee (GT), Management Trainee (MT), Executive Trainees (ET),Graduate Engineers (GE), Engineer Trainees (ET), Graduate Engineers (GE),Trainee Engineers (TE) etc.

3. Salary Structure of various PSUs

Engineering graduates aspiring for stability in their careers can explore PSU jobs after clearing the GATE exam. These positions not only carry prestigious titles but also provide appealing salary packages, typically ranging from 5 LPA to 14 LPA upon initial selection.

4. Salary Structure of various Central/State Govt. Organizations

PSUs Salary after 3rd PRC

PGCIL ET Salary Slip

IOCL GE Salary Slip

5. PSU Salary Structure for Freshers

The salary structure for freshers in Public Sector Undertakings (PSUs) in India can vary depending on the specific PSU, the position, and the location.

However, I am here providing you with a general overview of the salary components for entry-level positions in many PSUs:

1. Basic Pay: This is the fixed portion of the salary and is determined by the pay scale for the specific position. It varies from one PSU to another.
2. Dearness Allowance (DA): DA is a cost-of-living adjustment and is linked to the Consumer Price Index (CPI). It is usually revised periodically to account for inflation.
3. House Rent Allowance (HRA): HRA is provided to employees to cover their accommodation expenses. The amount may vary depending on the location of the PSU.
4. Conveyance Allowance: This allowance covers expenses related to commuting to and from the workplace.
5. Medical Allowance: Some PSUs provide a medical allowance to cover medical expenses for employees and their families.
6. Special Allowances: Depending on the PSU and the job profile, there may be additional allowances such as special duty allowance, project allowance, etc.
7. Performance-related Pay: Some PSUs offer performance-related pay or incentives based on individual and company performance.
8. Provident Fund (PF): A portion of the employee’s salary is contributed to the Employees’ Provident Fund, which is a retirement savings scheme. The employer also contributes to this fund.
9. Gratuity: Gratuity is a lump-sum payment made by the PSU to employees upon retirement or resignation. It is based on the employee’s years of service.
10. Pension: Depending on the PSU and government regulations, employees may be eligible for a pension after retirement.

It’s important to note that PSUs often follow the guidelines of the government and may have their own pay scales and allowances.

The salary structure can also vary based on the educational qualification and experience of the candidate.

Here I am providing a general example of a salary structure for a fresher in a PSU.

However, please keep in mind that the actual salary structure may vary depending on the specific PSU, the position, and other factors.

Here’s a simplified table:

Please note that these figures are approximate and can vary widely based on the specific PSU, the location of the posting, the job role, and other factors.

Some PSUs may offer additional benefits such as leave travel allowance, housing facilities, and more.

For precise and up-to-date information on the salary structure of a particular PSU for freshers, it is advisable to refer to the official website of that PSU or contact their HR department. Salary structures can change over time due to government revisions and company policies.

6. Components of Salary (Salary, Perks, Facilities & Allowances)

1. Basic salary : Basic salary is the core salary and it is the fixed part of the compensation package. A number of other components are calculated in the basic salary. Generally, the basic salary depends upon the employee’s designation or grade.
2. Allowance : Variable Dearness Allowance VDA at the applicable rates and perks & allowances under cafeteria approach to employees such as dearness allowance, house rent allowance (HRA), leave travel allowance (LTA), city compensation allowance and children’s education allowance.
3. Life and health insurance : New joiners get excited when they come to know that their organisation is taking care of them and paying the premium of their life and health insurance. But in reality, it is included in the CTC.
4. Transport facility : Getting a car from office may sound really good but actually, transport facility or pick-and-drop facility is also a component of the package. The interest-free car loans are not actually free.

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5. Reimbursement : Sometimes employees are entitled to many reimbursements such as medical treatment, newspaper, phone bill etc. One would not get the money in salary but funds will be passed against submission of such bills. So these are not included to the monthly pay slip. Most of the cases, an upper limit is there for each category.
6. Variable Pay : Performance Related Pay based on individual and organizational performance.
7. Other Benefits : Company Accommodation / Leased Accommodation / HRA, medical facility, group insurance, house building advance, conveyance advance, furnishing advance/ PC advance, etc.
8. Superannuation Benefits : Besides Contributory Provident Fund, Gratuity, pension and Post- Retirement Medical Benefits under Defined Contributory Scheme of the company.

• PSU Recruitment Through GATE 2024: Complete List of PSUs

This post is designed for providing more information about Public sector undertaking (PSUs). We have provided salary structure and CTC on latest information and we will update this list time to time.

If you find there is any change in any company / organization salary structure you may notify us using below comment box. We will update information in the above list as soon as possible.

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