In summary the government on Thursday announced a hefty 50 to 300 percent increase in pay-packages with effect from January 1, 2007. The new scales for 1,20,000 non-unionised supervisory staff and 2,58,000 board level officers in 216 operational Central PSUs.
approved uniform fitment of 30 percent of basic pay plus dearness allowance for profit making PSUs with effect from January 1, 2007. For weak and non-profitable PSUs, the fitment will depend on their affordability and will range between 10 percent and 20 per cent.
The Cabinet relied on the Committee of Secretaries recommendations to classify PSUs into four categories - A, B, C and D, instead of five categories - A+, A, B, C and D recommended by the Rao Committee in May.
The chairman of 'A' category PSU will now be eligible for Rs 80,000 to 1,25,000 pay scale as against Rs 18,500 to 23,900 currently.
Performance-related pay introduced; gratuity ceiling raised.
source There are 247 CPSEs, of which 216 are in operation. In all 16,14,000 are employed in these, of which 12,36,000 are unionised workmen who negotiate their wages directly with their respective companies. reports zee news
Govt approves higher pay for central PSU officers
The government has given its approval to increase pay for officers of central Public Sector Undertakings(PSUs) with effect from January 1, 2007.
psu wage revision, dpe, cpsu, zee business
It pays to work for PSUs; employees get salary hike
Employees of private companies may fear for their jobs, but for their counterparts in public sector companies it’s bonanza time.
The Government on Thursday announced a pay hike for central public sector undertakings (PSU), a decision which would benefit 2.5 lakh employees in over 200 companies.
The new compensation package will come into effect from January 1, 2007 and the basic pay of chiefs of central PSUs will now range from Rs 55,000 to Rs one lakh
|Over 1.6 million employees working in the estimated 240 central public sector undertakings (PSUs) are likely to receive a 50 to 60 per cent salary increase, possibly with retrospective effect from January 2006.|
|The second PSU pay revision committee, headed by former Supreme Court Justice M Jagannadha Rao, is in advanced stages of finalising its award due April-end and plans to submit its report to the government soon after.|
|the chairman of a schedule A (top-ranked navratnas like IndianOil, ONGC and NTPC, among others) central PSU, whose annual cost to company (CTC) works out to Rs 12 lakh to Rs 14 lakh, could earn a gross Rs 20 lakh after the award.|
|This will be far in excess of what an additional secretary in the government of India will get on account of the new Pay Commission award.|
|At the bottom of the PSU pay scale, an entry level attendant in a leading power PSU has a CTC of around Rs 22,000 per month, which could go up to Rs 33,000.|
It's time for the government companies or PSU company employees to chee.The reason - government has finally agreed to revise the pay scales of employees working in 69 public sector undertakings (PSUs) on the lines of the Sixth Pay Commission offered to central government staff. As per the previous news, The PSUs include Mahanagar Telecom Nigam (MTNL), Indian Tourism Development Corporation (ITDC), NHPC and North-Eastern Electric Power Corporation (Neepco) among others. These PSUs follow the central dearness allowance pattern and are governed by a separate high power pay committee.
“The pay scales of the employees will be revised with effect from January 2006. It will be now up to the board of directors of the respective public sector company to consider the pay revision, keeping in mind the affordability and capacity of the CPSU.
psu pay revision