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NTPC Pay Revision

PSU 6TH PAY COMMISSION(SIXTH) AND INCREASE IN PAY N WAGE REVISION REPORT .
The government has approved an average 96% increase in salaries of those working in central public sector enterprises (CPSEs). The increase has been higher at the top, with salaries of CEOs of profit-making CPSEs rising by nearly 300%. In addition, employees could also receive up to 200% performance-related pay as well.

What’s more, the revised salary would be applicable from January 1, 2007, which means these employees would receive fat arrears as well. This would translate into an extra burden of Rs 9,000 crore every year on the CPSEs. This should also help provide some consumption boost to the slowdown-hit economy.

Employees of marginally profitable CPSEs will receive the increment in stages, while those with loss-making enterprises will have to wait for their company to return to profits. The steep revision in salaries comes after the Cabinet on Thursday approved the recommendations of the second pay revision committee for employees of government-owned companies.

A committee of secretaries (CoS) had earlier approved the MJ Rao committee’s recommendations.
As per the changes, the average increase in the compensation package of all the 3.74 lakh, non-unionised, employees of PSUs would be around 96%.

“This is the best-ever package given by any government to PSU executives. The move will certainly lower the feeling of deprivation among PSU executives and arrest attrition,” said heavy industries minister Santosh Mohan Dev.
The compensation package of the 12.36 lakh unionised workers of CPSEs would be decided through negotiations with respective company boards.

As per the revised pay structure, while chief executives of blue-chip CPSEs would get around 300% increase in salary, employees of such companies would get a raise of around 180%.

In the case of marginally profit-making PSUs, the fitment is case specific, 10-20% of their existing pay plus dearness allowance, depending on the profitability of the CPSE concerned. In the case of profit-making CPSEs, the fitment is a uniform 30%.

Under the new pay structure, board-level employees have been divided into four categories and other employees into 10 categories for fixing salary slabs. The revised pay structure retains the four-category classification of CPSEs, Schedule A includes navratnas, while Schedule D includes loss-making ones, B & C includes the CPSEs in between.

While the chairman and managing director of navratna CPSEs have been put in the pay scale of Rs 80,000-1,25,000 (up from earlier pay scale of Rs 27,750-31,500). Salaries of CEOs of other PSUs would vary from Rs 50,000 to Rs 90,000, depending on the category they fall in. The salaries of other employees would also increase between Rs 20,000 and Rs 50,000.

The government has not only approved the increase in the salary structure, but also other sops such as benefit of one additional increment for every two increments earned, a uniform rate of annual increment as well as stagnation increment (3% of basic pay).

The government will also form an ‘anomalies committee’, which will look into the grievances arising out of the implementation of new pay scales.

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NTPC Pay Revision was first posted on September 12, 2009 at 12:12 pm.
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