What is IOCL Salary 2026? The salaries of Indian Oil Corporation Limited (IOCL) employees vary according to the person’s designation and the location. Engineers and managers are paid the highest salaries, with starting Basic Pay ranging from Rs. 50,000 to Rs. 60,000 per month (excluding allowances). Read IOCL Salary 2026 Trade Apprentice, Engineers, Officers Pay Scale in Hand from here.
In 2026, the Indian Oil Corporation Limited (IOCL) is all set to announce the pay scale of its trade apprentices, engineers, and officers. This information is crucial for candidates who have qualified for the written examination and are appearing for the interview rounds.
IOCL 2026 Highlights!
| IOCL Full Form | Indian Oil Corporation Limited |
|---|---|
| Name of Organization | Indian Oil Corporation Limited |
| Type of Job | Central Government Job (Maharatna PSU) |
| Job Location | All Over India |
| Vacant Posts | Engineers, Officers, Trade & Technician Apprentices |
| Pay Scale Cycle | 3rd PRC (Pay Revision Committee) |
| Official Website | iocl.com |
About IOCL!
Indian Oil Corporation Limited (IOCL), also known as IndianOil, is an Indian Oil and Gas Company. It is the largest Government-owned and administered Oil and Gas Company in India. This company was founded in 1959. The Registered Office is in Mumbai, while the Corporate Office is headquartered in New Delhi. It is a Maharatna PSU under the Ministry of Petroleum & Natural Gas, Government of India.
IOCL Salary 2026: Post Wise
IOCL Grade Pay varies according to the position of the employee. We have given the Indian Oil Corporation Limited the basic pay scale along with the post-wise pay scale. The pay scale of IOCL usually sees an annual increment of 3% of Basic Pay.
IOCL Pay Scale 2026 (Officers):
| Designation | Level | Pay Scale (INR) |
|---|---|---|
| Assistant Officer | A0 | 50,000 – 1,60,000 |
| Officer / Engineer | 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 | 1,20,000 – 2,80,000 |
| General Manager | H | 1,20,000 – 2,80,000 |
| Executive Director | I | 1,50,000 – 3,00,000 |
| Chairman | – | 2,00,000 – 3,70,000 |
IOCL Apprentice Salary (Stipend) 2026
For candidates applying for the Apprentice posts, the monthly stipend is fixed as per the Apprentices Act. It does not include the allowances mentioned for officers.
- Trade Apprentice (ITI): ₹7,000 – ₹9,000 per month (approx).
- Technician Apprentice (Diploma): ₹10,000 – ₹12,000 per month.
- Graduate Apprentice: ₹15,000 per month.
Indian Oil Salaries (Estimates):
The average salaries below include variable pay and allowances.
| Post Name | Avg. Estimated Pay |
|---|---|
| Assistant Manager | ₹ 16,00,000/yr |
| Officer Grade A | ₹ 14,50,000/yr (CTC) |
| Production Engineer | ₹ 90,000/mo (Gross) |
| Graduate Apprentice Engineer | ₹ 60,000/mo (Basic) |
| Junior Engineer | ₹ 45,000/mo |
IOCL Allowances and Benefits 2026
Not only a great salary, but you will also get excellent benefits and allowances as an Indian Oil Corporation Limited employee. Hence, below are featured all the essential allowances that candidates need to know.
- Cafeteria Approach Perks (35% of Basic Pay): This includes allowances for professional development, furniture maintenance, etc.
- Performance Related Pay (PRP)
- Medical Facilities (Unlimited for self & dependents)
- Location Allowances
- Conveyance Maintenance Allowance
- Post-retirement facility plan
- Superannuation Benefits (Pension, PF)
House Rent Allowance (HRA) 2026
As per the 3rd PRC, since the DA has crossed 50%, the HRA rates are revised as follows:
| City Class | Population | HRA Rate |
|---|---|---|
| X Class (Metros) | 5 Million and more | 27% of Basic Pay |
| Y Class | 0.5 million to 5 million | 18% of Basic Pay |
| Z Class | Less than 0.5 million | 9% of Basic Pay |
Dearness Allowance (DA):
IOCL employees are paid Industrial Dearness Allowance (IDA). It is revised quarterly based on the CPI. The current IDA is approx 46-50% (as of 2025-26 trends) of the Basic Pay.
Performance Related Pay (PRP) – The “Hidden” Bonus
Apart from the monthly salary, IOCL employees receive a massive annual bonus called PRP. This is not reflected in the monthly salary slip.
- When is it paid? Usually once a year (after the financial year closing).
- How is it calculated? Based on the company’s profit + Your individual performance rating.
- Estimated Amount: For a Grade A Officer, this can range from ₹80,000 to ₹1.5 Lakhs annually, over and above the monthly salary.
For Freshers: In-Hand Salary Calculation (Officer Grade A)
This table provides a realistic In-Hand Salary estimate for 2026 based on the current Rs. 60,000 Basic Pay structure.
| Component | Amount (Approx in Rs.) |
|---|---|
| Basic Pay | 60,000 |
| DA (Est. 50% of Basic) | 30,000 |
| HRA (27% for Metro) | 16,200 |
| Perks & Allowances (35%) | 21,000 |
| Gross Salary | ~ 1,27,200 per month |
| Less: Deductions (PF, Tax, Pension) | (-) 20,000 to 25,000 |
| Net In-Hand Salary | ~ 1,02,000 per month |
Note: This is an estimate for an Officer posted in a Metro City (X Class).
Critical: Service Bond & Liability
Candidates selected as Officers/Engineers must sign a Service Bond. If you decide to leave IOCL before completing the bond period, you are liable to pay a heavy penalty.
- Bond Amount (General/OBC): Rs. 3,00,000 (3 Lakhs)
- Bond Amount (SC/ST/PwBD): Rs. 50,000
- Minimum Service Period: 3 Years from the date of joining.
Note: This bond must be executed before joining the training period.
After the 7th Pay Commission (3rd PRC):
The below list gives you an idea about the Indian Oil Corporation Limited salary structure which follows the 3rd Pay Revision Committee (PRC) guidelines for PSUs.
- Production Engineer: ~ ₹15-17 Lakhs CTC
- Senior Manager: ~ ₹24-28 Lakhs CTC
- Human Resources (HR) Manager: ~ ₹20 Lakhs CTC
Watch: IOCL Officer Salary Slip & Perks Explained
Frequently Asked Questions:
What is the average salary for a senior manager at Indian Oil Corporation?
Indian Oil Corporation senior managers in India earn an average of ₹ 30 lakhs per year. Salaries can range depending on experience and location.
What is the salary of an IOCL Trade Apprentice?
A Trade Apprentice in IOCL typically receives a monthly stipend between ₹7,000 and ₹9,000, while Graduate Apprentices get around ₹15,000.
What are the benefits of working for Indian Oil Corporation?
IOCL offers a comprehensive package including 35% perks, unlimited medical coverage, performance-linked pay, and solid post-retirement benefits.
How can I apply for a job at Indian Oil Corporation?
You can apply for a job at Indian Oil Corporation by visiting the career section at iocl.com. Recruitment is often done via GATE scores for engineers.
References (Official Sources)