Wednesday, January 28, 2009

Oil PSUs deny govt claim on execs' pay

Oil PSUs deny govt claim on execs' pay

Kalpana Pathak / Mumbai January 28, 2009, 0:19 IST

Contrary to the government’s claim that entry-level officers of the state-owned oil companies earn as much as Rs 1 lakh a month on the basis of the revised pay package, details provided by the oil-marketing companies to Business Standard show that the entry-level salaries are much lower.
At present, the annual cost-to-company (CTC) of an entry-level officer in an oil-marketing company stands at Rs 6.3 lakh per annum, including the annual performance bonus and various allowances, perks and retirement benefit that these officers are entitled to.

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Business Standard_Oil PSUs Deny Govt Claim on Execs

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