Steel Authority of India Limited is the only Maharatna Company under the Ministry of Steel which is also the largest producer of steel and iron. According to its official website, it is having 5 integrated plants and 3 special steel plants.
The SAIL company revenue, profit, employee strength, etc shown hereunder.
|Parent Ministry||Ministry of Steel, Govt of India|
|Chairman & Managing Director||Sri Anil Kumar Chaudhary|
|Classification||Schedule – A|
|No. of Employees (as on 01.04.2018)||76,870|
|Revenue (2017-18)||Rs 56893 Crore|
|Profit (2017-18)||Rs (-) 482 Crore|
In this post, I am going to discuss the Steel Authority of India Limited Management Trainee’s pay scale, salary structure, facility and other benefits available for the executives.
SAIL MT Salary
As per their recent official advertisement, the pay scale for the Management Trainees will be 20600-3%-46500/- on IDA grade E-1. The selected candidates have to go through One Year training and after completion of the same, they will get permanent posting in the company as a Junior Managers in the same scale of pay.
The starting basic pay for SAIL MT post will be 20,600 after the regular appointment in the company. Apart from the basic pay MT will also get many other allowances. The details of emolument per month for SAIL Management Trainee shown here.
|Post Name||Management Trainee|
|Group||Class-I / Group A /Executive Post|
|Pay Scale (Pre-revised)||20600 – 3% – 46500/-|
|Superannuation Benefits (EPF+PRMB+Gratuity+Pension)||14,918|
|Performance Related Pay||Maximum Rs 8,240|
|Gross Pay per Month||83,186/-|
As per the above table, a newly recruited MT in Steel Authority of India Limited would get the Rs 83,186/- per month.
As I have already shared that Pay Scale for MT is E-1 (20,600 – 46,500). After the first promotion, the Management Trainee get the level E-2 pay scale of 24,900 – 50,000 and his post name also get upgraded. The following table shows the Steel Authority of India Limited engineers/ executive cadre hierarchy.
|Grade/ Level||Pay Scales (W.e.f. 01.01.2007)|
|E0||12,600 -3%- 32500|
|E1||20600 – 3% – 46500|
|E2||24900 – 3% – 50500|
|E3||32,900 – 3% – 58,000|
|E4||36,600 – 3% – 62,000|
|E5||43,200 – 3% – 66,000|
|E6||51,300 – 3% – 73,000|
|E7||51,300 – 3% – 73,000|
|E8||51,300 – 3% – 73,000|
|E9||62,000 – 3% – 80,000|
SAIL Non-executive pay Scales
|Grade / Level||Pay Scale (W.e.f. 01.01.2012)|
|S1||15,830 – 3% – 22,150|
|S2||16,300 – 3% – 23,200|
|S3||16,800 – 3% – 24,110|
|S4||17,100 – 3% – 25,540|
|S5||17,300 – 3% – 27,540|
|S6||17,500 – 3% – 30,070|
|S7||17,600 – 3% – 31,230|
|S8||17,700 – 3% – 32,420|
|S9||17,800 – 3% – 35,480|
|S10||17,900 – 3% – 42,030|
|S11||18,000 – 3% – 43,950|
MT Allowances & Benefits
- Medical benefits for the employee and his/her dependents
- Leave encashment: Payable on superannuation to eligible employees who have accumulated earned and half pay leave, subject to a maximum limit of 300 days combined for earned leave and half pay leave.
- Company’s contribution to provident & other funds
- Travel concession
- Welfare expenses
- Gratuity: Payable on separation @15 days Pay for each completed year of service to eligible employees who render continuous service of 5 years or more (for service beyond 30 years, one month’s salary for every completed year of service beyond 30 years, in case of non-executives). The maximum amount of `20 lakhs for executives & nonexecutives joined on or after 1st July 2014 and without any monetary limit for other non-executives, has been considered for actuarial valuation.
- Post Retirement Medical Benefits: Available to retired employees at the company’s hospitals and/or under the health insurance policy.
- Post Retirement Settlement Benefits: Payable to retiring employees for settlement at their home town.
- Long term service Award
Source: SAIL Official Website