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Meaning of pay scale : rs. 24900-50500/-

E V RAMA KRISHNA (CHARTERED ACCOUNTANT) (361 Points)

03 August 2011

companies offers payscale as Pay Scale : Rs. 24900-50500/-

wat is the meaning of it.........

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18 Replies

Ajay Kumar (CA) (279 Points)
Replied 03 August 2011

Hi,

Initial pay starts at 24900 and with increments every year u will get a maximum of 50500 for that designatin over a period.

%$ anil ....article trainee (help ever fnd forever) (204 Points)
Replied 03 August 2011

Hi boss,ur question was not so clear bt if u feel ur query was correct, wat d answer replied by ajay is correct.....nd if ur query was like dis, i mean 20000/- -1000/- -50000 den dis wil be indicates intial payment is 20000 nd incriment per yr is 1000 until its reached to 50000.....

1 Like

Sudhanshu Prajapati (Article) (981 Points)
Replied 03 August 2011

Originally posted by : Ajay Kumar
	Hi, Initial pay starts at 24900 and with increments every year u will get a maximum of 50500 for that designatin over a period.

Joey Tribbiani (fdg) (2010 Points)
Replied 03 August 2011

Its a scale where u wud be put anywhere in between. Like u can start by getting a basic pay of Rs 29500 pm. the scale decides your grade pay,transport allowance and other amenities. one of my friends in this pay grade gets a basic of around 29000,and his overall income comes out to Rs 52000 pm..

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 03 August 2011

Originally posted by : anil.............
	Hi boss,ur question was not so clear bt if u feel ur query was correct, wat d answer replied by ajay is correct.....nd if ur query was like dis, i mean 20000/- -1000/- -50000 den dis wil be indicates intial payment is 20000 nd incriment per yr is 1000 until its reached to 50000.....

AGREED

Abhishek (CA FINAL) (119 Points)
Replied 03 August 2011

I have a doubt whether that increment happens on per month basis or per year basis because the salaries of Rs. 24900-50500 are for per month thats why .

Ajay Kumar (CA) (279 Points)
Replied 03 August 2011

Hi abhishek,

Salary is be for p.m. but increment will happen on an yearly basis only.

1 Like

CA Gaurav Rastogi (Finance & Account Officer) (189 Points)
Replied 04 August 2011

HI ram krishana,

Pay scale of 24900-50500 means that your would be getting Basic Pay of 24900 + Dearness Allowance as a % of Basic + HRA as a % of Basic + Other Allownances and Perqus as a % of Basic + Other reimbursements (if any as per company policy) = in Hand before tax and PF , and CTC would be equal to the above total + PF @ 12% of Baisc nd DA,

if grade pay was there, you will get that also.

chaitu (n/a) (25 Points)
Replied 26 January 2012

hi have a query......if i got opportunity as a trainee software engineer with a pay scale of 9300-34900

does it means i can get a max of 34900 on this post or in case my position changes does this same pay scale applies o what.....

Law Aspire (CS) (755 Points)
Replied 13 December 2016

I think Basic can go upto 50500 in the payscale of 24900-50500

a person can initially ask for that?

Law Aspire (CS) (755 Points)
Replied 13 December 2016

U can get a maximum basic of 34900

even on initial joining

Jeet Biswas (ACMA (in Service)) (5073 Points)
Replied 16 December 2016

The initial fitment will be Band Pay of Rs. 24900 + Grade Pay. Together, we call it Basic Pay.

Allowances like DA & HRA will be a % upon the summation of above.

You will get yearly increments on a % basis, say 3% p.a

So upon completion of 1 year of service subject to confirmation, your Basic pay will be 1.03 ( 24900+ GP) and the band pay will be 1.03 ( 24900+ GP) - GP

DA & HRA will increase as a cascading effect.

The Band pay will increase as above and will increase by the increment % till :

a) You get promoted to the next pay band

b) You reach 50,500 (Unlikely) ; as you will definitely get promoted to next pay band before you reach that stage of band pay.

gopal (student) (212 Points)
Replied 16 December 2016

why are you so much confused about pay scales. it solely depends on your performance. I know the person who was offered 23000-68000 pay scale and now he is GM of the company and earning 98000 pm

Jeet Biswas (ACMA (in Service)) (5073 Points)
Replied 17 December 2016

Originally posted by : gopal
	why are you so much confused about pay scales. it solely depends on your performance. I know the person who was offered 23000-68000 pay scale and now he is GM of the company and earning 98000 pm

Actually, in PSUs, promotions are not as fast as in the pvt sector.

A lot of factors are considered in PSUs including the rapport with seniors in case of merit based promotions.

However, in any given PSU, a GM earns much more than 98k per month. It would be around 1.5 Lac p.m