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govt approves revised pay scales for psu employees PSU CPSU New Pay Revision Scales Grades

74 rate or flag this pageTwitter By bhagwat dig it Ads by Google Update is DPE approved in Increased salary structure check details and DPE guidlines released on April 2 2009. Govt approves revised pay scales for psu employees, In summary the government on Thursday announced a hefty 50 to 300 percent increase in pay-packages with effect from January 1, 2007. The new scales for 1,20,000 non-unionised supervisory staff and 2,58,000 board level officers in 216 operational Central PSUs. approved uniform fitment of 30 percent of basic pay plus dearness allowance for profit making PSUs with effect from January 1, 2007. For weak and non-profitable PSUs, the fitment will depend on their affordability and will range between 10 percent and 20 per cent. The Cabinet relied on the Committee of Secretaries recommendations to classify PSUs into four categories - A, B, C and D, instead of five categories - A+, A, B, C and D recommended by the Rao Committee in May. The chairman of 'A' category PSU will now be eligible for Rs 80,000 to 1,25,000 pay scale as against Rs 18,500 to 23,900 currently. There are 247 CPSEs, of which 216 are in operation. In all 16,14,000 are employed in these, of which 12,36,000 are unionised workmen who negotiate their wages directly with their respective companies. reports zee news Govt approves higher pay for central PSU officers The government has given its approval to increase pay for officers of central Public Sector Undertakings(PSUs) with effect from January 1, 2007. psu wage revision, dpe, cpsu, zee business It pays to work for PSUs; employees get salary hike Employees of private companies may fear for their jobs, but for their counterparts in public sector companies it’s bonanza time. The Government on Thursday announced a pay hike for central public sector undertakings (PSU), a decision which would benefit 2.5 lakh employees in over 200 companies. The new compensation package will come into effect from January 1, 2007 and the basic pay of chiefs of central PSUs will now range from Rs 55,000 to Rs one lakh Over 1.6 million employees working in the estimated 240 central public sector undertakings (PSUs) are likely to receive a 50 to 60 per cent salary increase, possibly with retrospective effect from January 2006. The second PSU pay revision committee, headed by former Supreme Court Justice M Jagannadha Rao, is in advanced stages of finalising its award due April-end and plans to submit its report to the government soon after. “The sixth Pay Commission report has also said that PSU salaries should not be linked to government. We are taking a realistic view of the situation,” ndtv, govt approves revised pay scales for psu employees, psu pay commission, cpsu pay revision, dpe the chairman of a schedule A (top-ranked navratnas like IndianOil, ONGC and NTPC, among others) central PSU, whose annual cost to company (CTC) works out to Rs 12 lakh to Rs 14

com » Business » Salary windfall for PSU staff soon Salary windfall for PSU staff soon May 31. Popular.000. This will be far in excess of what an additional secretary in the government of India will get on account of the new Pay Commission award.nic.NIITEducation. Easy. an entry level attendant in a leading power PSU has a CTC of around Rs 22.lakh.000 executives in estimated 240 central public sector undertakings are in for a bonanza with a pay revision committee recommending a massive hike in their annual cost-to-company. Apply for Free Demo Are you a Fresher? www. The hike ranges between 379 per cent at the highest level and 57 per cent at the lowest across companies and Ads by Google Asian Human Capital Award 2012 Application Now Open. could earn a gross Rs 20 lakh after the award. At the bottom of the PSU pay scale. which could go up to Rs 33. Rediff. Submit Entry! Online Payroll Software Take 8th National IT Aptitude Test& Open Doors to India's best IT jobs. Also check out department of public enterprises DPE website for Pay Revision Committee for Executives and Non-unionised Supervisors of CPSEs Report of 2nd Pay Revision Committee For Executives of CPSEs at http://dpe. . Be Recognized In Asia.000 per Fast. 2008 11:11 IST Over 210. Adrenalin pay roll software .singaporehcsummit.

submitted its recommendations on Friday to Minister of Heavy Industries and Public Enterprises Sontosh Mohan Dev. They can earn more profit and can share it with their employees. Shorn of variable components like risk pay and performance-related pay. inclusive of basic.13/29. The report has been sent to the Prime Minister's Office and the finance ministry." he said.98 %) 6.36 %) No of CPSUs 8.10 %) 3.10 %) 10. 28 (220. would mean that government servants.56 6.8/6. risk pay.35/3 4.36/21.20 yA+ (379.96/12 .96/15 .8/7.94 %) 3." he added.36/24. The award.18 (198. a final proposal will be put up for Cabinet approval.69 (82. headed by former Supreme Court Justice M Jagannadha Rao. 23 (63.56 57 ) (75%) %) Figures in Rs lakh/ annum are the total costto-company.33 11 %) 10.57 %) 3.8/5. Categor 8/19.96/12 96 yD (44.7 yB (273. "We are giving more authority to the companies. "This is a paradigm shift in the government's thinking on running a business enterprise.76 yA (283. according to SM Dewan.79 (83.47 45 %) 10. director general.96/13 /48 (93.70 52 %) Director E5 s E/P 10.22 %) E/P 6.89/5 Categor 2. The second PSU pay revision committee. PSU GRAVY TRAIN CMD E/P 10.70 %) 8. Standing Conference of Public Enterprises. After it is examined.76 %) E0 E/P 3.8/6. It does not put us on a par with private sector companies. The process could take three-six months.91 51 %) 9.This is assuming the maximum possible payout an executive can get.35/3 Categor 8.50% . but it is a very good beginning. particularly defence personnel.96/12 . if accepted.6 6 (101.80/6.9 7 (83. would be paid far less in comparison even if one takes into account the recent hike recommended by the Sixth Pay Commission. Categor 28 yC (220.35/3 6.96 (257.92 (122.67 %) 6.42 %) 3.13/29.21 (230. 42 (156. all perks and performance related pay.3 5 (67.53 %) 9.32 %) 6. the effective pay hike works out to between 25 per cent and 40 per cent.These .9 8 (57.89/4 Categor 1.

who was a member of the committee. E5: Mid level. For instance. much more than the annual compensation of Rs 15 lakh (inclusive of all allowances and perks) that a secretary in the central government will get if the Sixth Pay Commission award is implemented in toto. In comparison. the award calls for complete delinking of public sector and government pay scales. E/P: Existing/Proposed The revised salary structure is proposed to come into effect from January 1. "We want total delinking of PSUs from the government as we want them to become profitable and strong. The proposed pay structure seeks to reduce the disparity between public sector executives and their private sector counterparts and introduce a performance-based compensation culture. Loss-making firms will not be required to shell out risk pay. the chairman and managing director of a company like ONGC [ Get Quote ].000 of E-10 in A+ companies Sick companies to be allowed pay revision (without risk pay or variable pay) if they make cash profit Central PSUs not making cash profits to be examined by the Board for Reconstruction of Public Sector Enterprises CMDs and directors of sick central PSUs which have seen a turnaround will retire at 60 No upper limit on gratuity Separate fund for post-retirement medical treatment and to meet emergency needs of those who have retired . while the cabinet secretary will be paid Rs 90. PSU employees are proposed to get much more than government officials. Figures in bracket are the % increase over existing annual CTC E0: Entry level. The pay will be split into two components.20 lakh a year. Pay panel's other recommendations • • • • • • • • • Employee stock options. a government secretary will be paid a fixed Rs 80. The report also recommends that central PSUs be categorised into five (A +. C.amounts are the maximum payable.000.000 per month New pay scale of Rs 65.000 a month in category D companies. 2007. basic pay and risk pay. D) based on turnover.25 lakh a month in category A and Rs 65.000 . manpower and geographical spread. profitability and the executive's grade. A. In another far-reaching recommendation. linked to performance pay Performance-related payout amounting to 40-200 per cent of basic pay Risk pay of Rs 1.100 to Rs 25." said Board for Reconstruction of Public Sector Enterprises Chairman Nitish Sengupta. On a strictly fixed-pay basis.000 a month.75. NTPC or Bharat Sanchar Nigam Ltd is proposed to be paid Rs 52. a public sector chairman and director will get Rs 1. with the latter depending on categorisation. B.

which includes CPF.• • Revision of pay for non-unionised supervisors to be decided by board of directors Retirement benefit of 30 per cent of basic pay. pension. gratuity and post-retirement medical benefits The sixth pay commision: Complete coverage MOST RECENT • • • 'Crisis in Maldives a WARNING for Muslim nations' Age row: Govt withdraws order rejecting army chief's plea Interceptor missile successfully launched off Odisha coast .

IIMs . arrears from 2006 Pay hike impact on inflation factored in: FM Pay Panel: Lalu thanks PM Armed forces react positively to Pay Panel March 31. 2008 Armed forces seek 50% pay hike Govt to lure faculty with big pay package March 27. 2008 Pay panel. 2008 4 states to implement pay panel recommendations August 18. what about work? Pay panel: States can bear the burden. 2008 Pay is ok. an attempt to destabilise India March 28. 2008 PSU pay panel for 50-60% revision Fewer holidays. say experts August 14.• • How 'Arab Awakening' has transformed the Muslim world The long arm of Pakistan's ISI August 19. bigger challenge Pay revision to swell tax coffers Steep hike for regulators may attract more talent Pensioners angry at 2006 'divide' Pay hike: No direct impact on IITs. 2008 Pay hike for govt staff: What about guarantee of output? August 16. 2008 Govt nods 21% pay hike.

2 times hike for defence forces Now..March 26. 2008 Sixth Pay Commission impact may top Rs 20.000 crore Previously. 2008 40% 'peanuts'.. Irda bosses' pay hiked Should govt. Trai. 2008 Bureaucrats' salaries still lowly A 3.561 cr in first year 6th pay panel for 40% pay hike Pay hike: Good news for defence staff Avoiding office? Harder for govt staff now Pay hike to drive inflation further: BJP Sebi. we want 100% hike: PSU employees Pay panel report: Defence unhappy March 25. Good news for govt staff. 2008 Pay panel: All about the revised pay scales 6th Pay Commission for 40% salary hike What is a Pay Commission? CPI opposes govt staff pay hike It's not possible to please all: Pay panel chief Pay hike to cost Rs 12. salaries to rise Performance-linked pay? Not an easy task What happened to slashing govt jobs? Govt officers deserve higher pay The Pay Commission disaster 'We must scrap Pay Commissions' . pvt sector staff get same pay? Industry hails 6th Pay Commission report External link: Full report of the Sixth Central Pay Commission March 3. work just 20 years for full pension Govt staff to get effective salary hike of 28% Most states to implement Pay Panel proposals Entry-level govt pay higher than in pvt sector 'Flexi hours to help women take care of kids' March 24.

Pay Commission: The Election Angle Sixth Pay Commission may derail economy • .

though the defence sector was opened up in 2001-02 to 100% private investment. This could increase opportunities for obtaining advanced technologies from foreign sources. with up to 26% FDI. Officials said the guidelines would help in "enhancing fairness and transparency in the selection of the JV partner" by DPSUs while ensuring a "well-defined nature and scope" of the tie up.000 crore with global armament firms. the $20 billion MMRCA project will have 50% offsets. defence PSUs can have JVs with corporates NEW DELHI: The government on Thursday made a significant step for bolstering domestic defence industrial base by clearing of guidelines for its defence PSUs to establish joint ventures with private firms." an official release said. and formation of further subsidiaries." it said. it did not have the desired impact on the performance of the eight defence PSUs. such as amendments to the articles of association of the JV company. which was opposed by rival companies. sale of substantial assets. According to the guidelines. "The ministry will issue the guidelines to harness the emerging dynamism of the private sector in India and increasing opportunities to obtain advanced technologies from foreign sources through adoption of appropriate partnership approaches by DPSUs. Besides. There was urgency in laying down guidelines as the government is in the process of negotiating over 40 offset contracts worth Rs 50. DPSUs will retain the "affirmative rights" for taking key decisions in the JV company. declaration of dividend. ." the release said. JVs were allowed in the Defence Production Policy released last year but was put on hold by the ministry after the Mazagon Dockyards Limited (MDL) tied up with a private shipyard. The DPSUs will have the right of "prior approval to key JV decisions. However. The guidelines contain provisions for important matters that are critical from a national security perspective. "The Union Cabinet today approved the guidelines for establishing Joint Venture Companies by Defence Public Sector Undertakings (DPSUs).Now.

with the ultimate objective of better risk-management and shorter time frames for delivery to meet the increasing demands of our armed forces. fair and transparent framework for entering into JVs by DPSUs.The guidelines provide a "streamlined." .