March 5, 2014

What is the salary of executive cadre in Indian Oil Corporation?

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Salary structure of executive cadre in Indian Oil Corporation

We have compiled the CTC for the executive cadres in Indian Oil Corporation. Details as mentioned below:




Remuneration

Directional Break-up of CTC (rounded off) p.a.

Basic @ Rs 24,900 per month
Rs. 2.99 lacs
Dearness Allowance @ 67.3% of basic
Rs. 2.01 lacs
House Rent Allowance (HRA)For Metro @ 30% of BP, For C Class @ 10% of BP
Metro Rs 0.90 lacs
C Class Rs 0.30 lacs
Perks and allowances (Max admissible upto 50% of Basic Pay)
Rs. 1.49 lacs
Superannuation Benefits (Max. admissible upto 30% of Basic Pay)
Rs. 1.50 lacs
Total CTC (without performance related payment)
Rs. 8.90 lacs
Performance Related Payment(upto max 40% of BP)
Rs.1.195 lacs
Valued Gross Remuneration (CTC) (As on 1st January, 2013)
Metro Rs 10.10 lacs
C Class Rs 9.80 lacs


Perks and Perquisites
  • Car purchase advance immediately after induction training - Rs. 2.65 lakh (@ nominal interest of 2.5%)
  • Computer and furniture at home (provided by Company)
  • House-building advance after 5 years of service - Rs. 12 lakh (@ nominal 5% interest). Insurance coverage for house is also provided at nominal 0.5%
  • Almost unlimited medical benefits and nomination facility at best of the hospitals across the country for self and dependents
  • Opportunity to avail of full fee reimbursement (up to Rs. 3 lakh) for part-time MBA programme at best of the institutes in India
  • Individual performance-based incentives
  • Life-time medical care: Post-retirement medical benefits
  • Holiday Homes facility during service & after retirement
  • Nominated hotels facility on tours / leave


Disclaimer: Information compiled from website of India Oil Corporation.