WHAT IS A MAHARATNA COMPANY

Dream of every engineering student is to get through the GATE examination and secure a job in government PSU and Maharatna PSU is like the shining jewel among the CPSE’s.

This article targets to highlight the advantages which Maharatna PSU presents to an engineering graduate.

In the year 2009, the government of India decided to establish Maharatna status for the CPSEs. There are certain conditions to be a Maharatna PSU. The Maharatna status gives more autonomy and authority to a company than the other categories such as Navratna or Miniratna. Maharatna CPSEs can invest from INR 1,000 crore to INR 5,000 crore. PSUs with Maharatna status can invest 15% of their net worth in a project without the prior permission from the Government of India.

The following conditions have to be fulfilled for a CPSE to be a Maharatna PSU: –

  1. Firstly, it should be a Navratna company; it is a kind of promotion of status.
  2. The company should have a turnover of more than INR 25,000 Crore for the last three years.
  3. The net worth of the company should be more than INR 15,000 Crore for the last three years.
  4. After the payment of taxes, the company should be making a net profit of more than INR 5000 Crore annually.
  5. The company, as per the rules of Securities and Exchange Board of India (SEBI) of minimum prescribed public shareholding limit, must mark its presence at Indian Stock Exchange.

How many Maharatna Companies are there in India?

Currently, there are eight Maharatna PSUs, including BPCL that was recently added to the list. Below is the complete list of companies/PSUs that fall under the Maharatna status:

  1. Bharat Heavy Electricals Limited (BHEL)
  2. Coal India Limited (CIL)
  3. Gas Authority of India Limited (GAIL)
  4. Indian Oil Corporation Limited (IOCL)
  5. National Thermal Power Corporation Limited (NTPC)
  6. Oil and Natural Gas Corporation Limited (ONGC)
  7. Steel Authority of India Limited (SAIL)
  8. Bharat Petroleum Corporation Limited (BPCL)

Job in a MAHARATNA COMPANY

A job at Maharatna company provides tremendous opportunities in various managerial and technical fields and helps to grow professionally. Whether it is its great pay scale especially after the recommendations made by the 7th pay revision commission, which tends to increase the salary or the pay-related allowances or the reputation in society or the other numerous benefits like leaves, medical benefits, good work environment, pension scheme, cafeteria approach, which means employees can make a preference from the benefits given to according to their needs and other allowances – the advantages are many. These are just some of the reasons among others to make it as popular as it is. The status of Maharatna PSU is like of a crown among the other and scoring good score in GATE examination is one of the popular ways to get this crown, as many of these companies, now recruit through the GATE exam followed by their own criteria. The aspirants must secure a decent GATE score to land in this job.

 

Let us now take a brief look at the various Maharatna PSUs and perks of joining them individually:

 

NATIONAL THERMAL POWER CORPORATION (NTPC)

NTPC is the largest power company, engaged in the generation of the electricity. It contributes to the 25% of the total power generation. The company is also involved in the consultancy and turnkey project which includes engineering, project management, construction management, and management of power plants. Apart from its core business, it is also involved in the gas exploration and coal mining activities.

NTPC recruits engineers for the post of executive trainees through the GATE exam. The fields of engineering stream of Electrical, Mechanical, Civil, Electronics & Instrumentation are eligible to apply for the recruitment process in the power company.

Pay Scale, Perks, and Allowances

The pay scale of INR 60,000ill be given to entrance level Executive Trainee.

Other than the basic salary, employees will also get Dearness Allowance dependent on the basic pay, House Rent Allowance (HRA), Conveyance Allowance, Travel Allowance, Medical Benefits, Leave Encashment, Gratuity among others

 

OIL AND NATURAL GAS CORPORATION (ONGC)

ONGC is the largest crude oil and natural gas company in the India, contributing to 70% to Indian domestic production.

ONGC recruits engineers from various streams of engineering. Graduates from the Electrical, Mechanical, Instrumentation, Electronics, Petroleum, Chemical, Civil, Telecom, E&T, Computer, Auto engineering, Information Technology or Applied Petroleum Engineering are eligible to apply. And post graduate candidates in physics with electronics, geology, chemistry, geophysics, mathematics, physics, petroleum technology or computer applications and candidates having M.Sc. or M. Tech degree in petroleum geoscience, petroleum geology, geology technology, or geophysics technology can apply for the for the position of Assistant Executive Engineer through the GATE examination.

Pay scale, Perks, and Allowances

The Trainees will get the basic salary of INR 60,000- 1,80,000/- with 3% rise annually.

Other than the basic pay, they will also get allowance, Cafeteria Approach, House Rent Allowance (HRA), Mining Allowance, Contributory Provident Fund, Conveyance Maintenance, Performance Related Pay, Gratuity, Medical facilities, Composite Social Security Scheme among others

 

STEEL AUTHORITY OF INDIA LIMITED (SAIL)

SAIL is the largest steel making company. It produces steel and iron and own five integrated plants and three special steel plants. It is according to survey, one of the fastest growing company.

SAIL has also started the recruitment process through GATE exam for the post of Management Trainees. The eligible engineering branches are Ceramics, Computer, Civil, Chemical, Electrical, Electronics & Instrumentation, Mechanical, Metallurgy & Mining.

Pay scale, Perks, and Allowances

The basic pay scale given to a Management Trainee of Grade E1 is INR 20,600 – 46,500/- approximately.

Other than the basic pay, employees will get Dearness Allowance, Cafeteria Approach which is 46% of basic pay, the medical facilities, Provident Fund, Gratuity, and other additional benefits.

 

BHARAT HEAVY ELECTRICALS LIMITED (BHEL)

BHEL is the engineering and manufacturing company, involved in the design, engineering, construction, testing, commissioning and servicing and catering to the needs of the economy through power generation, transmission, industry, transportation, oil and gas, renewable energy, defense, energy storage solutions etc.

BHEL has also announced the recruitment process of fresh graduates for the post of Engineer trainee through GATE examination. The Mechanical & Electrical Engineering are the eligible fields.

Pay Scale, Perks, and Allowances

The entry-level post of Engineer Trainee gets a pay scale of INR 50,000-1,60,000/- approximately throughout the training period and pay scale of INR 60,000-1,80,000/- approximately after the training period.

Other than to basic pay, Dearness Allowance dependent on basic pay, Cafeteria Approach (46% of basic pay), Leave Encashment, Medical facilities for self and reliant, Provident Fund, Gratuity, Performance Related Pay, Subsidized Canteen Facilities, House Rent Allowance are the same benefits enjoyed by employees.

 

INDIAN OIL CORPORATION LIMITED (IOCL)

IOCL also known as INDIAN OIL is involved in refining, transportation and marketing of petroleum product. It is largest commercial oil company. Besides its core business, it is also engaged in hydrocarbon value chain, exploration and production of oil and gas and alternative energy resources.

IOCL employee officers for the executive post through GATE examination. The Eligible fields are Chemical, Civil, Computer, Electrical, Electronics, Instrumentation, Mechanical, Metallurgical, and Polymer Engineering.

Pay Scale, Perks, and Allowances

Basic Pay scale of INR 50,000 – 1,60,000/- will be given to candidates selected for the post of Engineers or Officers.

In addition to basic pay scale, Dearness Allowance, House Rent Allowance, Cafeteria Approach, Medical facilities for self and family members, Gratuity, Performance Related Pay and many more other facilities are offered by the company to Engineers or Officers.

 

GAS AUTHORITY OF INDIA LIMITED (GAIL)

GAIL is the natural gas processor and distributor company.

GAIL has also made GATE score mandatory for the recruitment for the post of Executive Trainee. Engineering students of Chemical, Mechanical, Electrical, Instrumentation & Civil streams are eligible to apply.

Scale Pay, Perks and Allowances

The basic salary for the candidates selected for the various posts are INR 60,000-1,80,000/- for E2 grade, INR 70,000-2,00,000/- E3 grade approximately.

In addition to basic pay, the employees get Dearness Allowance, cafeteria approach, Performance-related pay, House Rent Allowance, medical facility, group insurance, conveyance advance, and other numerous advantages.

 

BHARAT PETROLEUM CORPORATION LIMITED (BPCL)

BPCL is the oil and gas company and also ranked as 2nd largest oil company in the India.

The BPCL recruits through the GATE exam in the disciplines of Mechanical engineering for the post of Management Trainee.

Pay scale, Perks and Allowance:

The employees will get the basic salary of INR 24,900- 50,500/- approximately.

In addition to the basic pay scale, employees will also be entitled to Dearness Allowance based on the IDA pattern, provident fund, medical facilities, and other numerous benefits.

This was all about Maharatna PSUs. We will soon share more about Navratna and Miniratna PSUs. Hope you found this article informative and beneficial for a right career choice.

Leave a Reply

Your email address will not be published. Required fields are marked *