What is the starting package in IOCL after the GATE?
The pay scale for IOCL employees is INR 60,000 - 1,80,000/-. Naturally, the salary varies depending on the post. Here are the various components of IOCL salary.
| Salary Components | Amount (in INR) |
| Basic Salary | 60,000 |
| Pay Scale | 60,000 - 1,80,000 |
| Dearness Allowance | 5,280 |
| Employer Contribution | 15,668 |
| PRP | 24,000 |
| Perks | 21,000 |
| Total Gross Salary | 1,25,948 |
The in-hand salary of IOCL officers is in the range of INR 60,000 to INR 55,000, per month, without any perks. Adding perks the amount will be higher.
IOCL Payscale 2022 for Different Designations -
Indian Oil Corporation Limited has three classes of employees, i.e. Board Level Employees (like Chairman, Director), Below Board Level Workers, and Workmen.
The pay scale for board-level employees - Director and Chairmen are respectively INR 1,80,000 - 3,40,000 and INR 2,00,000 - 70,000 respectively.
The pay packages for workers below board level are as follows.
| Designation | Employee Level | Pay scale (in INR ) |
| Assistant Officer | A0 | 50,000 - 1,60,000 |
| Officer | A | 60,000 - 1,80,000 |
| Assistant Manager | B | 70,000 - 2,00,000 |
| Deputy Manager | C | 80,000 - 2,20,000 |
| Manager | D | 90,000 - 2,40,000 |
| Senior Manager | E | 1,00,000 - 2,60,000 |
| Chief Manager | F | 1,00,000 - 2,80,000 |
| Dy. General Manager | G | 1,20,000 - 2,80,000 |
| Executive Director | I | 1,50,000 - 3,00,000 |
| Director | Director | 1,80,000 - 3,40,000 |
| Chairman | Chairman | 2,00,000 - 3,70,000 |
Along with good salary packages, IOCL offers many perks and benefits to their employees.
Comments
This year 2020 for entry-level officers CTC is 15 LPA. This is for Grade A entry-level officers. In general, around 50,000 per month is the salary which one gets in hand (without HRA or overtime).
The salary you get will also depend on your work location. That is if you are working in the field or working in an office. There are similarities between the 2 though. Basic pay+ DA + Cafeteria are the same for field and office.
Pay Structure:
IOCL pay scale structure for freshers is as follows.
|
Salary Component |
Pay Scale Structure (in INR) |
|
Basic Pay |
24,900 |
|
DA (126.9% of Basic Pay) |
31,598 |
|
Perks (50% of Basic Pay) |
12,450 |
|
HRA (for metro cities) |
7,470 |
|
EPF (12% of Basic Pay + DA) |
6,780 |
|
Total Gross Salary |
83,198 |
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Basic pay (BP): BP for an entry-level Grade A officer in IOCL is INR 24,900.
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Dearness allowance (DA): DA varies every quarter. It is around INR 31,598.
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Cafeteria allowance: This includes many allowances like House maintenance allowance, transport allowance, cafeteria subsidies, fitness allowance, and furniture allowances. The maximum cafeteria allowance comes out to INR 15,000.
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HRA (House Rent Allowance): Only for those who do not have company accommodation. This amount will depend on the location.
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Shift allowance: This is compensation for overtime in IOCL. There are 3 shifts: Morning, afternoon & night shift. Your pay can increase by 5,000 to 6,000 per month by taking up overtime work.
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Transport maintenance allowance: Extra pay for officers who have a vehicle. This depends on the type of vehicle you have.
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Overtime compensation: This is for working during the holidays. Comes out to around INR 1500
Deductions:
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Provident Fund (PF): Around 12% of BP+DA goes into PF.
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Other deduction: INR 1500 approx.
Working in IOCL is very rewarding as it comes with a hefty paycheck. However, you may need to travel frequently and work in fields as well.
Comments
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