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HPCL Fresher Employee Pay Scale Salary Slip Matrix Perks Allowance Under 7th Pay Commission
Public sector companies are often looked down by the corporate world, but they provide much more financial security to their employees than a corporate job. One of those public sector undertakings is Hindustan Petroleum Corporation Limited (HPCL). It’s an oil and gas major that supplies large part of our country’s domestic and industrial energy requirement. Let’s see how much salary and other benefits do employees working at this company receive:
HPCL Grade Pay
Like other PSUs, HPCL has a clearly outlined pay structure for every grade of its employees. Therefore, there’s no need of grade pay to compensate for the promotion of employees. As employees advanced in their careers at this company, they move from one pay grade to another, as you’ll see in upcoming sections of this article.
The salary of an HPCL employee depends largely upon the category to which he/she belongs, but it also depends a lot on the number of perks and allowances he/she is availing. In order to understand their salaries, it’s important to understand how each of these benefits are distributed to these employees. Let’s move towards understanding that.
HPCL Officer and Staff Salary
The compensation structure inside HPCL is well-defined. There’re two categories of staff members, namely Management staff and Non-Management staff. The second category is further divided in two other branches, namely Marketing staff and Refinery staff. Employees in each of these categories are further organized into various grades and different pay scales are determined for them.
The salary of management & Non management staff in HPCL is as follows:
|Management Staff Grade &
|Non Management Staff Grade
& Pay Scale
|A||24,900 – 50,500||00||10,380 – 15,000|
|B||29,100 – 54500||01||12,370 – 20,410|
|C||32,900 – 58000||02||12,510 – 22,470|
|D||36,600 – 62000||03||12,550 – 26,310|
|E||43,200 – 66000||04||12,610 – 27,150|
|F||51,300 – 73,000||05||12,670 – 29,380|
|G||51,300 – 73,000||06||12,870 – 31,250|
|H||51,300 – 73,000||07||13,110 – 32,850|
|I||62,000 – 80,000||08||13,500 – 37,630|
|09||13,610 – 39,300|
|10||13,920 – 40,680|
|11||14,470 – 48,600|
Pay scales of workmen in refineries of HPCL vary among various refineries.
Allowances and Other Facilities
- Health Insurance: The employee and his family members are provided health insurance by the company. HPCL ensures that all of its workers are covered by sufficient financial security for any urgent medical needs that may arise.
- Pension: HPCL has a PF scheme for its employees towards which a portion of their salary is contributed automatically. This builds a good corpus for the retirement of employees.
- Professional Development Facilities:The company also runs an Educational Refund Plan (ERP) to refund the expenses incurred by its employees for their professional development. They can pursue any course of their interest and its fees along with other expenses are refunded to them. Paid time-offs are also provided to them for pursuing higher studies.
- Other Benefits: A large range of benefits can also be availed by HPCL employees, which include Variable Dearness Allowance (VDA), House Rent Allowance (HRA), computer advance, furniture advance, accommodation, gratuity and so on. When it comes to perks, there’s no shortage of options to choose from at HPCL.
HPCL Pay Scale and Allowances Under 7th Pay Commission
- Increased Salary: The employees at HPCL may see their salaries rise by as much as 30% due to various hikes in their allowances, basic pay and other benefits. But the most significant part of this hike will come by the merger of DA with base salary, which will also raise the ceiling of allowances that an HPCL employee can receive.
- Performance Based Increment: High-performers in the company will be entitled to a performance-based annual increment of 5% – 6%. This is arguably second most significant benefit of 7thCPC for HPCL employees, as it can further increase their take-home salaries.
- Retirement Benefits: The current PF scheme for retirement of employees is likely to be improved further to provide better financial security for the retirement of HPCL employees.