20% more pay hike to PSU Employees

Government annouced today 20% More pay hike to PSU Employee's that will benifits about four lakh executives. The improvement is over and above the pay package notified by the government in November last year, which prompted officers, particularly in the oil sector, to take to the streets. The decision for bettering the pay packages just ahead of the general elections was taken after government took the clearance from the Election Commission.

Excluding superannuation benefits, on a basic salary of Rs 100 an officer will now draw Rs 370.48 as against Rs 351.12 that was approved last year. If superannuation benefit is added, the emoluments on a basic salary of Rs 100 would become Rs 532.65 against Rs 504.70 on the scale based on the Jaganadha Rao Committee recommendations. The total increase taking into account allowances and HRA would be 19.37 percent. The new scales have been cleared on the recommendations of the Committee of Ministers, headed by Home Minister P Chidambaram, which revisited the pay revision after the strike by oil PSU officers in January.
Thie news will definately add a smile to all PSU Employees.