ECGC PO Salary 2023: The ECGC PO post is a highly lucrative one not just based on the job profile but also when you consider the salary and perks associated with it. The ECGC PO salaries are given as per the 7th pay commission. They also get benefits and perks as per the rules of the central government. It is the ECGC PO salary & job profile that motivates students to grab this opportunity. This year, ECGC released a short notification for the recruitment of PO in the specialist cadre on 31 March 2023. The detailed notification was released on 19th April 2023. Read below to know all about the ECGC PO Salary 2023 and job profile details.
ECGC PO Salary 2023 and Job Profile
Before we begin the discussion of the ECGC PO salary & job profile, let us first understand who an ECGC PO is and what does he do. The ECGC PO probationary officer is an entry-level post. The position offers attractive salaries and perks as well as lets one work in a challenging job profile. ECGC PO is a financial service institution. It falls under the Ministry Of Commerce Government Of India. The Reserve Bank, along with the government representatives, governs it. The main aim of an ECGC PO is export promotion, but along with that, they also offer many other services like credit insurance coverage to Indian exporters who may encounter some issues when collecting payments from buyers. The ECGC PO also offers credit insurance coverage to banks and other credit institutions to extend enough credit facilities for exports. If you are appearing for the ECGC PO exam, then it is very important to know the ECGC PO salary & job profile 2023 to understand what will be expected of you.
ECGC PO Salary 2023: Pay-scale
The ECGC PO salary is based on the following pay scale:
The ECGC PO salary contains several other components such as DA, HRA, special allowances, etc. The ECGC PO salary also contains medical benefits and insurance coverage. Any changes in the same will be updated as per the ECGC PO Recruitment 2023.
ECGC PO Salary 2023: Job Profile
- The ECGC PO plays a crucial role as the insurance provider for the export business
- They interact with customers like exports and bankers, for which they need to possess great communication and interaction skills.
- They need to deal with all the export transactions, and their profile can be ranked as medium to high pressure.
- Usually, an ECGC PO works in a location for three years minimum before he is transferred to a new location.
ECGC PO Salary 2023: Salary Breakup
|Pay Scale|| 53600-2645(14)-90630-2865(4)-102090|
|Basic Pay||INR 53600 (Given Increment for 14 Years = INR 2645/-)|
|Basic Pay after 14 years||INR 90630(Given Increment for 4 Years = INR 2845/-)|
|Maximum Basic Pay||INR 102090|
|Cost to Company (CTC)||Rs.12 LPA – Rs.17 LPA Approx.|
Let us understand the ECGC PO salary & job profile 2023 in detail. The salary of the ECGC PO is set according to the 7th pay commission. The average pay is ₹53600 per month. Along with the salary, an ECGC PO is also eligible for allowances given to any central government employee. The above pay is the basic pay for the first 14 years. The ECGC PO gets a yearly increment of ₹2645. In the next phase, the ECGC PO will receive a salary of ₹90630 per month for four years and will get a yearly increment of ₹2845. The final pay is ₹102090 per month, which is the maximum pay an ECGC PO will get.
Apart from the pay, there are several allowances that an ECGC PO enjoys. These include:
- House lease reimbursement
- Transport allowance
- House rent allowance (HRA)
- Newspaper allowance
- Dearness allowance
- Mobile handset allowance
- Briefcase allowance
- Furniture allowance
- Meal coupons
- Household allowance
- Mobile bill reimbursement
- City compensatory allowance (CCA)
- Medical allowance
ECGC PO Salary 2023: Allowances
The ECGC PO allowance is paid over and above the basic salary. There are rules to how these allowances are paid.
- The HRA is a monthly payment.
- The furniture allowance is paid once every five years.
- The DA is 46.9% to 75% of the basic pay, and as per the job location
- The HRA is set at 7% to 10% of the basic pay
- The City Compensatory Allowance or CCA at 3% to 4% of the basic pay also depends on the location.
- Transport allowance is fixed at ₹1,330 per month.
ECGC PO Salary 2023: Other benefits
There are other ECGC PO salary & job profile 2023 benefits too that an ECGC PO enjoys along with his salary.
- Pension scheme contribution where the employee contributes 10% of the combined value of the basic pay and the dearness allowance towards a pension fund.
- Group insurance of 50 lakhs
- A group saving linked insurance of 8 lakhs
- GTS insurance worth ₹10 lakhs
- A Mediclaim coverage for the employee and the dependent for up to 40 lakhs
- A leave travel concession or LTC of ₹4,500 per 1000 km for their onward and return journey and a 2nd class AC fare for the employee and his family every two years
- A leave travel concession once in a year for the ECGC PO to travel to their hometown
- The ECGC PO also gets a bonus called the Productivity-linked lump-sum incentive (PLLI), which is only given to those working in the banking and the financial services
ECGC PO Salary Deductions
- The ECGC PO salary has similar deductions to that of any central government employee. This includes pension, provident fund, and income tax.
It is important to know the ECGC PO salary & job profile before you fill up the ECGC PO form. Once you know your job responsibilities, the salaries, and the perks that you are entitled to make, then things become transparent, and you thus get serious about your preparation for the ECGC PO examination. Read all about the ECGC PO salary & job profile 2023 on the official website.