IOCL is the Maharatna company with a turnover of Rs 506,428 Crores which is the highest among all PSUs in India. It has got the 137 positions in the Fortune Global 500 companies 2018 list.
The Maharatna Company recruits chemical, civil, Computer Science, Information Technology, Electrical, Electronics & Communications, Instrumentation, Mechanical, and Metallurgical Engineering graduates on the basis of their performance in GATE examination, Group Discussion or Group Task and Personal Interview.
I will discuss the IOCL Engineers and Research Officers salary after the regular service in the company. Let’s first check the key details of the Indian Oil Corporation Limited which is mandatory to know for everybody who is preparing to get selected in this CPSE.
|Parent Ministry||Petroleum and Natural Gas|
|Classification||Schedule – A|
|CMD||Mr. Sanjiv Singh|
|No. of Employees (As on 31 March 2018)||33,157|
|Total No. of Executives||17,123|
|Total No. of Non-Executives||16,034|
|Revenue (2017-18)||Rs 506,428 Crore|
|Profit (2017-18)||Rs 21,346 Crore|
|End Products||Indane Gas, Auto Gas, Natural Gas, Petrol/Gasoline, Diesel/Gas oil,ATF/Jet Fuel, SERVO lubricants & greases, Marine Fuels & Lubricants, Kerosene, Bulk/Industrial Fuels, Bitumen, Petrochemicals, Special Products, Crude Oil, (Read more from here)|
IOCL Engineers/ Officers Salary
As it is a profit making company, hence it has implemented the 3rd Pay Revision Committee guidelines for the executives and non-executives working in the company.
The graduate engineers are being recruited at the level of ‘A’ or ‘E1’ pay scale (60,000 – 1,80,000). The initial basic pay for research officers will be of 60,000 per month. The detailed salary structure for the newly appointed engineers in the Indian Oil Corporation of India Limited shown below.
|Pay Scale||60,000 – 1,80,000|
|Grade||E-1 Or A|
|Group||Class-I / Executive Post|
|HRA (If applicable)||4,800 or 9,600 or 14,400|
|PRP||Maximum Rs 24,000|
|Gross Pay per Month||Rs 1,18,114/- to 1,32,514|
Hence a fresh engineer would get a minimum salary of Rs 1,18,114/- per month after joining the company at a regular post.
Indian Oil Corporation of India Limited recruits engineers at lower level management post, these graduates get time bound functional promotions as per the company policy. The below table contains the IOCL managerial post hierarchy from the lower level to the top for the executives. The pay scale of an executive gets upgraded to the next higher level after every promotion.
|Ao||Asstt. Officer / Engineer||Rs. 50,000 – 1,60,000/-|
|A||Officer / Engineer||Rs. 60,000 – 1,80,000/-|
|B||Sr. Officer / Sr. Engr. / Asst. Manager||Rs. 70,000 – 2,00,000/-|
|C||Deputy Manager||Rs. 80,000 – 2,20,000/-|
|D||Manager||Rs. 90,000 – 2,40,000/-|
|E||Senior Manager||Rs. 1,00,000 – 2,60,000/-|
|F||Chief Manager||Rs. 1,20,000 – 2,80,000/-|
|G||Dy. General Manager||Rs. 1,20,000 – 2,80,000/-|
|H||General Manager||Rs. 1,20,000 – 2,80,000/-|
|I||Executive Director||Rs. 1,50,000 – 3,00,000/-|
|Director (Schedule A)||Director||Rs. 1,80,000 – 3,40,000/-|
|Chairman (Schedule A)||Chairman||Rs. 2,00,000 – 3,70,000/-|
IOCL Officers Facilities and Benefits
- Medical Reimbursement
- Leave Travel concessions
- Provident Fund
- Superannuation Benefits
- townships located at its Refinery locations are self-sufficient with all the basic amenities viz. outdoor and indoor medical facilities, schools, markets, clubs, recreation centers, etc.
- IOCL conducts annual games/ sports meets, cultural meets, etc. for its employees and their family members.
- It extends various types of special leaves to its women employees viz. maternity leave, husband joining leave, childcare leave, child adoption leave, etc.
IOCL Subsidiaries Companies
- Chennai Petroleum Corporation Limited
- Indian Catalyst Private Limited
Foreign Subsidiaries Companies
- IndianOil (Mauritius) Ltd. (Mauritius)
- Lanka IOC PLC (Sri Lanka)
- IOC Middle East FZE (UAE)
- IOC Sweden AB (Sweden)
- IOCL (USA) Inc.
- IndOil Global B.V. (Netherlands)
- IOCL Singapore Pte. Ltd.
IOCL Joint Ventures List
- Avi-Oil India Pvt. Ltd.
- Delhi Aviation Fuel Facility Private Limited
- Green Gas Ltd.
- GSPL India Transco Ltd.
- GSPL India Gasnet Ltd.
- IOT Infrastructure & Energy Services Ltd.
- IndianOil Adani Gas Pvt. Ltd.
- IndianOil Petronas Pvt. Ltd.
- IndianOil Skytanking Pvt. Ltd.
- Indian Synthetic Rubber Pvt. Limited
- Kochi Salem Pipelines Private Limited
- Lubrizol India Pvt. Ltd.
- Mumbai Aviation Fuel Farm Facility Pvt. Ltd.
- NPCIL – IndianOil Nuclear Energy Corporation Limited
- Petronet LNG Ltd.
- Suntera Nigeria 205 Limited
- IndianOil LNG Private Limited
- Hindustan Urvarak and Rasayan Limited
- Ratnagiri Refinery and Petrochemicals Limited
Source: IOCL Official Website