IOCL Salary: The Indian Oil Corporation Limited (IOCL), Oil and Gas Company, is the largest PSU (public sector undertaking) that is owned and operated by the Indian government. Employees at IOCL can get anywhere from INR 60,000 to INR 1,80,000/- in gross pay. However, the amount of money earned will differ from post to post. There are a variety of allowances, including DA, HRA, TA, MA, and so on.
IOCL Salary Structure
The IOCL provides different pay grades for different workers depending on their circumstances. The growth in the IOCL PayScale will be somewhere in the centre of 30 and 40 percent, and it will be converging into the basic compensation.
|Pay Scale||60,000 – 1,80,000|
IOCL In-Hand Salary 2022
Without taking into account any additional compensation or benefits, the cash salary of an officer at Indian Oil Corporation Limited can range anywhere from 60,000 to 55,000 dollars per month. However, if we were to add more benefits to this the amount will be significantly higher than this.
IOCL Sary: Pay Scale
- At Indian Oil Corporation Limited, there are three categories of workers, which are as follows: Employees at the Board Level, including the Chairman and Directors, Employees Below the Board Level, including Workers and Workmen.
- The compensation range for directors is between $1,80,000 and $3,40,000, while the pay range for the chairman is between $200,000 and $3,70,000.
- Workers whose positions are below those of the board are compensated according to the following pay scales:
|Designation||Level||Pay Scale (INR)|
|Assistant Officer||A0||50,000 – 1,60,000|
|Officer||A||60,000 – 1,80,000|
|Assistant Manager||B||70,000 – 2,00,000|
|Deputy Manager||C||80,000 – 2,20,000|
|Manager||D||90,000 – 2,40,000|
|Senior Manager||E||1,00,000 – 2,60,00|
|Chief Manager||F||1,20,000 – 2,80,000|
|Dy. General Manager||G||1,20,000 – 2,80,000|
|General Manager||H||1,20,000 – 2,80,000|
|Executive Director||I||1,50,000 – 3,00,000|
|Director||Director||1,80,000 – 3,40,000|
|Chairman||Chairman||2,00,000 – 3,70,000|
IOCL Salary: Perks and Allowances
Indian Oil Corporation Limited will not only obtain a fantastic wage, but it will also receive the best number of benefits and allowances, which will also be given to the newly recruited executive of the company as outlined in the following paragraphs.
Conveyance Maintenance Allowance
Post-retirement facility plan Allowances
Superannuation Benefits Allowance
Composite Social Security plan as per company guidelines
In IOCL, there are shift allowance rules and regulations for workers who work rotating shifts. The following are their rates for this allowance.
|Category||Evening and Morning shift||Night Shift|
|Workmen||INR. 65 per shift||INR. 105 per shift|
|Officers (Grade A & B)||INR. 80 per shift||INR. 130 per shift|
|Officers (Grade C and Above)||INR. 100 per shift||INR. shift150 per|
House Rent Allowance
HRA, or House Rent Allowance, is paid to IOCL employees dependent on where they are stationed. Because of this, IOCL has divided Indian cities into three categories: X, Y, and Z. The following is the HRA distribution in this town:
|Z||Less than 0.5 million||10% of basic pay|
|Y||0.5 million to 5 million||20% of basic pay|
|X||5 Million and more||30% of basic pay|
Despite this, workers do not receive House Rent Allowance when IOCL provides housing in the city.
The AICPI, or All India Consumer Price Tax Index, is used to calculate Dearness Allowances for Indian Oil Corporation Limited employees. The DA is reviewed every three months, and the current rate is 121 percent of base wage.
IOCL Salary FAQs
The officers’ IOCL behaviour is determined by the pupils’ GATE results. To be considered for this position, you must first apply.
IOCL stands for Indian Oil Corporation Limited. Visit the official website for additional information.
The monthly starting wage for students is INR 60,000. The total compensation package is worth INR 17 lakhs.