Salary revision for executives of SAIL

New Delhi: Ministry of Steel, Director G. P Meena on November 18, 2021, issued a letter on the salary Revision of Executives of the SAIL. As the letter mentioned that, it is directed to refer to SAIL's letter No. PER/EC/1213 dated 02.11.2021 on the subject mentioned above says the President is pleased to direct the Chairman to implement the revision of pay and allowances of Board Level and Below Board Level Executives in SAIL strictly as per the guidelines issued by DPE vide OM No.W-02/0028/2017-DPE(WC)-GL-XI/17 dated 03.08.2017, 04.08.2017 and 07.09.2017 subject to the following conditions:

Salary Revision is for a period of 10 years w.e.t. 1.1.2017 to 31.12.2026. 

Salary revision shall be applicable for the executives who were on the rolls as on 31.12.2016 and continue to be on the rolls of the Company as on 01.04.2020. The fitment is notionally w.e.f. 01.01.2017 and with actual payment from 01.04.2020.

The pay scales corresponding to the existing scales of pay as enumerated in DPE guidelines, shall be adopted and there shall be no change in the number or structure of pay scales and every executive shall be fitted into the corresponding new pay scale.

The practice of grant of annual increment/promotion benefit, stagnation increment etc. would be as per the DPE Guidelines. 

The Company shall continue to contribute up to 30% of Basic Pay plus DA towards Provident Fund (PF), Gratuity, Post-Superannuation Medical Benefits (PSMB) and Pension of executives. Further, the enhancement of ceiling of gratuity amount will also be effected by 25% whenever Industrial Deamess Allowance (IDA) rises by 50%, as provided in DPE guidelines, while within the overall limit of 30% of Basic Pay plus DA.

Revised Performance Related Pay Scheme will be effective from FY 2020-21 as per OM dated 03.08.2017 issued by DPE with the approval of Remuneration Committee. 

Concept of variable Perks and Allowances shall be continued and will be 35% of the revised Basic Pay and shall be payable w.e.f. 01.04.2020. 

The allowances beyond the limit of 35% Le. Non Practising Allowance (NPA). Special (Difficult Area) Allowance, Underground Allowance etc. shall be made applicable from the date of issue of Presidential Directives. 

The salary revision is subject to review after every 3 years subsequent to implementation as provided in the DPE guidelines.

The issue of House Rent Allowance shall be decided by Chairman SAIL as per the DPE guidelines. 

SAIL may immediately initiate the required measures to improve productivity for improving its production and efficiency through improvements in its techno economic parameters, optimal utilization of resources as well as rationalization of manpower.

A copy of the order effecting the salary revision for executives of SAIL w.e.f. 01.04.2020 as issued by SAIL may be forwarded to this Ministry and also endorsed the Department of Public Enterprises.

This issues with the approval of the competent authority.

Read Also : KABIL inks MoU with CSIR-NGRI for advancing geophysical investigations in critical and strategic minerals sector