Second Pay Revision Committee for CPSEs submits report
The Second Pay Revision Committee Report for the Executives of Central Public Sector Enterprises (CPSEs) was presented here today by the Chairman of the Committee Justice M. Jagannadha Rao, Retired Judge of Supreme Court to Union Minister for Heavy Industries and Public Enterprises. The Committee was constituted by the Government in November 2006. The Committee discussed various issues with a number of CPSEs, Officers’ Associations, Public representatives, SCOPE, Sixth Central Pay Commission, PESB, selected private sectors and other stake holders.
The effective date of pay revision will be 1.1.2007. The CPSEs have been classified into five categories and the classification is based on the turnover, size of manpower and geographical spread of the CPSE. There will be five sets of pay scales based on categorization of CPSEs. There will be two components of pay i.e. Basic Pay and Risk Pay. Risk Pay is in addition to Basic Pay which depends on the categorization, profitability of the Company and the level of the executive.
Fixed Pay for CMDs and Directors has been recommended. CMDs Basic Pay ranges from Rs. 55,000 to Rs.1,00,000 depending upon the category. Directors basic pay ranges from Rs. 50,000 to 80,000 depending upon the category.
Basic Pay of below board level executives ranges from a minimum of Rs. 11,500 to Rs.70,000 at maximum level. Risk Pay will be in addition to the Basic Pay. Risk Pay ranges from Rs. 1100 to Rs. 25,000 p.m.
CPSEs will follow IDA. HRA will be at the rates of 30 per cent, 20 per cent and 10 per cent of the Basic Pay depending upon the classification of the cities/towns based on population.
A new scale Rs.65,000-75,000 at below Board level has also been suggested.
There is no change in retirement age and CCA has been dispensed with. Retirement benefits to be 30 per cent of the Basic Pay., which includes CPF, Pension, Gratuity and post retirement medical benefits.
Revision of the scales of pay and other benefits of non-unionized supervisors to be decided by the Board of Directors of concerned CPSE.
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