Delhi,30 May:The Second Pay Revision Committee Report for the Executives of Central Public Sector Enterprises (CPSEs) was presented here today by the Chairman of the Committee Justice M. Jagannadha Rao, Retired Judge of Supreme Court to Shri Sontosh Mohan Dev, Union Minister for Heavy Industries and Public Enterprises.
The Committee was constituted by the Government in November 2006. The Committee discussed various issues with a number of CPSEs, Officers’ Associations, Public representatives, SCOPE, Sixth Central Pay Commission, PESB, selected private sectors and other stake holders.
The highlights of the recommendations of the Committee are as follows :
The effective date of pay revision will be 1.1.2007. The CPSEs have been classified into five categories and the classification is based on the turnover, size of manpower and geographical spread of the CPSE. There will be five sets of pay scales based on categorization of CPSEs. There will be two components of pay i.e. Basic Pay and Risk Pay. Risk Pay is in addition to Basic Pay which depends on the categorization, profitability of the Company and the level of the executive.
Fixed Pay for CMDs and Directors has been recommended. CMDs Basic Pay ranges from Rs. 55,000 to Rs.1,00,000 depending upon the category. Directors basic pay ranges from Rs. 50,000 to 80,000 depending upon the category.
Basic Pay of below board level executives ranges from a minimum of Rs. 11,500 to Rs.70,000 at maximum level. Risk Pay will be in addition to the Basic Pay. Risk Pay ranges from Rs. 1100 to Rs. 25,000 p.m.
CPSEs will follow IDA. HRA will be at the rates of 30 per cent, 20 per cent and 10 per cent of the Basic Pay depending upon the classification of the cities/towns based on population.
A new scale Rs.65,000-75,000 at below Board level has also been suggested.
There is no change in retirement age and CCA has been dispensed with. Retirement benefits to be 30 per cent of the Basic Pay., which includes CPF, Pension, Gratuity and post retirement medical benefits.
Revision of the scales of pay and other benefits of non-unionized supervisors to be decided by the Board of Directors of concerned CPSE. *
I dont think any of the stimulus packages announced by the Indian Govt. have been implemented so far whether it be the 6th CPC or the 2nd PRC. I eagerly await the notification on enhanced Gratuity to Rs.10 lakhs as I have retired recently from a Defence PSU and look forward to receiving some relief to take care of my needs in my old age.
Can you plz. tell me if the notification on Gratuity is issued and implemented anywhere? Thanks.
I retired as a Supervisor from Mazagon Docks Ltd. Mumbai a Central PSU on 31.12.2008. Till date, I have not received my Gratuity as also my leave encashment. It is almost 2 months since I retired and since there is no income, I am losing heavily in terms of interest which could have helped me run my daily expenses. Moreover, the rates of interest have come down since then and I am a loser here as well.I shall be happy to know if I am eligible for the enhanced Gratuity of Rs.10 lakhs and when the presidential directive would be issued to this effect?
I have retired as a Supervisor from Mazagon Docks Ltd. (a CPSU) on 31.12.2008 on lumpsum basis. What is the amount of Gratuity I am eligible to receive – Rs.3.5 lakhs or Rs.10 lakhs? Please inform. Thanks.
Till when will the guys at DPE bone their hungry tongues…I warn them to immediately accept the change and let the guys with talent and hardwork, dedication & sincerity be given encouragement. Otherwise the day is not far when the mother India which has been harnessed freedom after so many sacrifices by their & our parents & forefathers will be slave to MNCs like East India Company. The bottom line is be flexible for performers with talent & skills, give them the package who works with their hands to uplift the country!
For God sake do not talk about degrees, talk about basic graduate with skills and talents in specific field!
Rest is not needed to be said…feel it if you have little grey matter left in your head!
How can this Government ignoring the requirements of a common men( Gr’C’ & Gr’D’ Employees ) in a country like India? Is it justified to recommend a wage revision ahead of Non executives?
WHAT ABOUT THE ONGC EMPLEY
when the 2nd pay revision committee recommendations will implemented.
market price are on rise. difficult to meet both ends. why the common man has to suffer. Cannot the revision of the pay scales be implemented by November 2008
WHAT ABOUT HMT REVISION
Thoufg the pay scales are being revised, nothing has been mentioned about the date of implementation of the same. Can it be implemented by the end of year 2008?
So no one thinks of the Group C & D Category of PSU Staffs. Its is expected for the Group A & B stafs as in the 6 CPC Report also marked. So in this country we cannot expect good for the Group C & D.
So can any one update when our Hounarable DPE is going to declare Pay review for the loww level staffs of PSU.
only executives are taken care of. wat bout the hard working, back bones Non executives. In majority of the cases they know more in and outs of the job performed by the organisation than their bosses, who only know how to simply sign the paper.
Non executves should be given more acceleration in terms of promotions and monetary benefits.
A new rag.