All employees of CPSEs (Coal India Ltd, NTPC, ONGC, IOCL, GAIL, BPCL, SAIL, BHEL, BSNL, MTNL, Nalco, HAL, BEL, NHPC, TCIL, ECIL, EIL, FCI, PGCIL, POSOCO, Vizag Steel and many others), and Private sector companies have EPF accounts for the provident fund.
The Central Public Sector Enterprises Employees get the payment as per the guidelines suggested by the Department of Public Enterprises.
The PSU staff Industrial Dearness Allowances (IDA) get revised after every quarter from the 1st day of January, April, July, and October Month.
The Department of Personnel & Training recently issued the gazetted and restricted holidays list through an office memorandum for the year 2020.
The Maharatna Companies ONGC, Coal India, NTPC, Gail India, IOCL, BPCL, and BHEL has implemented the 3rd PRC report for their staff. There are many Navratna and Miniratna PSUs which also started executing the pay revision order.
Whenever the government implements the pay revision committee benefits, the basic pay, DA and all other allowances get revised. Due to this the method and ceiling for calculating the retiral benefits like Gratuity and Leave encashment also get changed.
Bharat Petroleum Corporation Limited is a Maharatna Company under the control of Ministry of Petroleum and Natural Gas. The company’s apex office located at the financial capital of India (Mumbai).
I am going to discuss here the salary structure of the Management Trainees who join the BPCL through the GATE examination.
The Maharatna & Navratna Public Sector Enterprises offers the top package to the fresh engineer who joins these government companies at the executive level. The total compensation was further increased due to the implementation of the 3rd Pay Revision Committee report in the profit-making CPSEs.