What is IOCL Salary 2024? the Salaries of Indian Oil Corporation Limited (IOCL) employees vary according to the person’s designation and the location of the company’s headquarters. Engineers and managers are paid the highest salaries ranging from Rs. 60,000 to Rs. 80,000 per month. Get to know Read IOCL Salary 2024 Trade Apprentice, Engineers, Officers Pay Scale in Hand from here from here
In 2024, the Indian Oil Corporation Limited (IOCL) is all set to announce the pay scale of its trade apprentice, engineers, and officers. This will have been revealed to the candidates who have qualified for the written examination and appeared for the interview rounds. This information was revealed to the candidates who have qualified for the written examination and appeared for the interview rounds. The information was revealed to the candidates who have qualified for the written exam and are in the interview rounds.
IOCL 2024 Highlights!
| IOCL Full Form | Indian Oil Corporation Limited |
|---|---|
| Name of Organization | Indian Oil Corporation Limited |
| Type of Job | Central Government Job |
| Mode of Application | Online |
| Location of Job | All Over India |
| Name of Job | Several |
| Vacant Posts | Technical and Non-Technical Apprentice |
| Mode of Application | Online |
| Mode of Exam | Online |
| Official Website | iocl.com/ |
About IOCL!
Indian Oil Corporation Limited (IOCL), also known as IOCL, 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, and is headquartered in Delhi, India. It is a public sector undertaking, and the largest PSU or Public Sector Undertaking under the Ministry of Petroleum & Natural Gas, Government of India.
IOCL is an Indian state-owned oil and gas company headquartered in Mumbai, Maharashtra. It is the biggest PSU or Public Sector undertaking belonging to the Government of India. The company is engaged in the refining, marketing, and distribution of petroleum products in the Indian subcontinent.
IOCL Salary 2024
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 increment will be between 30% to 40% which will be merged with the basic pay.
IOCL Pay Scale 2024:
| Designation | Level | Pay Scale (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 – 2,60,00 |
| Chief Manager | F | 1,20,000 – 2,80,000 |
| Dy. General Manager | G | 1,20,000 – 2,80,000 |
| General Manager | H | 1,20,000 – 2,80,000 |
| Executive Director | I | 1,50,000 – 3,00,000 |
| Director | – | 1,80,000 – 3,40,000 |
| Chairman | – | 2,00,000 – 3,70,000 |
Indian Oil Salaries:
| Post Name | Avg. Total Pay |
|---|---|
| Assistant Manager | ₹ 14,09,210/yr |
| Operations Officer | ₹ 13,41,590/yr |
| Engineering Officer | ₹ 89,808/mo |
| Officer Grade A | ₹ 82,592/mo |
| Production Engineer | ₹ 82,267/mo |
| Sales Officer | ₹ 91,674/mo |
| Engineer | ₹ 8,97,590/yr |
| Manager | ₹ 17,62,956/yr |
| Officer | ₹ 76,719/mo |
| ISO | ₹ 11,49,271/yr |
| Project Engineer | ₹ 77,514/mo |
| Mechanical Engineer | ₹ 82,429/mo |
| Deputy Manager | ₹ 21,28,927/yr |
| Assistant Manager (Retail Sales) | ₹ 12,68,655/yr |
| Management Trainee | ₹ 66,557/mo |
| Operations and Maintenance Engineer | ₹ 92,369/mo |
| General Manager | ₹ 2,50,342/mo |
| Process Engineer | ₹ 76,164/mo |
| Electrical Engineer | ₹ 74,246/mo |
| IOCL Officer | ₹ 60,000/mo |
IOCL Allowances and Benefits:
- Telephone Allowances
- Mining Allowances
- Post-retirement facility plan Allowances
- Performance Allowances
- Medical Allowances
- Location Allowances
- Conveyance Maintenance Allowance
- Composite Social Security plan as per company guidelines
- Superannuation Benefits Allowance
House Rent Allowance
| City | Population | HRA |
|---|---|---|
| X | 5 Million and more | 30% of basic pay |
| Y | 0.5 million to 5 million | 20% of basic pay |
| Z | Less than 0.5 million | 10% of basic pay |
Shift Allowance
| Category | Evening and Morning shift | Night Shift |
|---|---|---|
| Officers (Grade C and Above) | INR. 100 per shift | INR. shift150 per |
| Officers (Grade A & B) | INR. 80 per shift | INR. 130 per shift |
| Workmen | INR. 65 per shift | INR. 105 per shift |
Dearness Allowance:
IOCL employees are paid DA as a percentage of their basic pay per the All India Consumer Price Index (AICPI). DA is revised quarterly, and its present rate is 121% of Basic Pay.
As Per Grade:
The remuneration of the workers is decided through negotiations with the workers’ union, subject to the overall guidelines of the Department of Public Enterprises, Government of India.
| Grades | Indian Oil Salary Structure (in Rs.) |
|---|---|
| I | 10500-24500 |
| II | 10600-26500 |
| III | 10800-29000 |
| IV | 11900-32000 |
| V | 12800-35000 |
| VI | 13800-38500 |
| VII | 14800-40500 |
| VIII | 16000-43700 |
| IX | 20000-49200 |
| I | 10500-24500 |
| II | 10800 -29000 |
| II | 10800-29000 |
| III | 11900-32000 |
| IV | 12800-35000 |
| V | 13800-38500 |
| VI | 16000 -43700 |
| VI | 16000-43700 |
| VII | 20000-49200 |
For Freshers:
| IOCL Officer Salary Component | IOCL Pay Scale Structure (in Rs) |
|---|---|
| Basic pay | 24900 |
| DA ( 126.9% of Basic pay) | 31598 |
| Perks (50% of Basic pay) | 12450 |
| HRA (For metro cities) | 7470 |
| EPF (12% of Basic pay plus DA) | 6780 |
| Total Gross Salary in Rs | 83198 |
After the 7th Pay Commission:
The below table will give you an idea about the Indian Oil Corporation Limited salary after the 7th pay commission. Please have a look..!
| Particulars | Indian Oil Employees Salary |
|---|---|
| Production Operator | Rs. 353,833/- |
| Mechanical Engineer | Rs. 663,806/- |
| Sales Officer | Rs 707,445/- |
| Finance Manager | Rs 930,165/- |
| Information Technology (IT) Manager | Rs 875,456/- |
| Sr. Human Resources (HR) Manager | Rs 1,926,485/- |
| Production Engineer | Rs 1,196,665/- |
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 from ₹ 1 lakh to ₹ 45 lakhs, depending on experience, location, and other factors.
What are the benefits of working for Indian Oil Corporation?
Indian Oil Corporation offers a comprehensive benefits package to its employees, including medical insurance, life insurance, a pension plan, paid leave, and education allowance.
How can I apply for a job at Indian Oil Corporation?
You can apply for a job at Indian Oil Corporation by visiting the website and submitting your resume and application materials.
What are the qualifications for a job at Indian Oil Corporation?
The qualifications at Indian Oil Corporation vary depending on the position. However, most positions require a bachelor’s degree and some experience in the oil and gas industry.
What is the work culture like at Indian Oil Corporation?
The work culture at Indian Oil Corporation is professional and supportive. Employees are encouraged to be innovative and to take on new challenges.
How can I contact Indian Oil Corporation?
You can contact Indian Oil Corporation by phone, email, or mail. The company’s contact information is available on its website.
Write By
Riya Sharma
Meet our accomplished author, Ms. Riya Sharma, a passionate educator and mentor with over 15 years of experience in the field of education. With a Master's degree in education from Delhi University, she has dedicated her career to empowering and inspiring students, especially young, enthusiastic students, to excel in their academic pursuits. Her expertise lies in exam preparation, and she has helped numerous students achieve academic success through her innovative teaching methodologies. With her in-depth knowledge of the education system and career options in India, she provides insightful analysis and guidance to students looking to chart their career paths after completing their 12th grade.