Starting Salary In IOCL

I want to know the starting salary in Indian Oil Corporation Limited (IOCL) so will you please tell me?

The Indian Oil Corporation Limited (IOCL) is the largest Public Sector Undertaking (PSU) belonging to Government of India.

There’s a very clear and well-defined pay structure in IOCL for various employee grades, no grade pay is paid to employees aside from their basic pay.

The salary of IOCL employees consists of basic pay, performance related benefits, superannuation benefits and any allowances that they may receive.

IOCL Post-Wise Pay Scale

There’re 3 categories of employees in IOCL: Board Level Employees (consisting of Chairman and Directors), Below Board Level Employees and Workmen.

The pay scales of Chairman and Directors are 80,000 – 125,000 and 75,000 – 100,000 respectively.

Employees below the board level are compensated according to following pay scales:

For Grade, the Pay Scale are as follows:

Grade Pay Scale Refineries/ Pipelines/ R&D Marketing/ IBP
(Employees) Grade (Employees) Grade

1st 24,900 – 50,500 1st 1st
2nd 29,100 – 54,500 2nd —
3rd 32,900 – 58,000 3rd 2nd
4th 36,600 – 62,000 4th 3rd
5th 43,200 – 66,000 5th 4th
6th 51,300 – 73,000 6th 5th
7th 51,300 – 73,000 7th —
8th 51,300 – 73,000 8th 6th
9th 62,000 – 80,000 9th 20,000 – 49,200 (prospective)

IOCL Allowance & Perks

IOCL Employees are also provided various allowances and perks. For example:

Dearness Allowance:

Employees are paid DA as a percentage of their basic pay in accordance to All India Consumer Price Index (AICPI). The DA is revised quarterly and its current rate is 121% of basic pay.

House Rent Allowance:

IOCL employees also receive HRA, which depends largely on the place of their posting. For the purpose of this allowance IOCL has categorized Indian cities in three categories, namely X, Y and Z.

The distribution of HRA in these cities is as follows:

City Class Population HRA
X 5 million and above 30% of Basic Pay
Y 0.5 million to 5 million 20% of Basic Pay
Z Less than 0.5 million 10% of Basic Pay

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Answered By StudyChaCha Member