ECGC PO Salary 2024, In Hand Salary, Pay Scale, and Allowances

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Export Credit Guarantee Corporation offers a basic salary of Rs.53,600 and an approximate monthly in-hand salary of Rs.1,13,000. In addition to the attractive salary, the role comes with a range of perks and benefits. For a detailed overview of the ECGC PO Salary 2024, including the salary structure, pay scale, and job profile, refer to the comprehensive information provided in the article.

ECGC PO Salary 2024

The ECGC PO Salary 2024 offers an attractive compensation package, starting with a pay scale of INR 53,600-2645(14)-90630-2865(4)-102090. The basic pay begins at INR 53,600, with increments of INR 2,645 for 14 years, followed by INR 2,865 for the next 4 years, reaching a maximum of INR 1,02,090. After deductions, the in-hand salary for a newly appointed Probationary Officer in a metropolitan city exceeds INR 1 lakh. This attractive salary structure, combined with various allowances and benefits, makes the position highly desirable.

Particulars	Details
Pay Scale	INR 53,600-2645(14)-90,630-2865(4)-1,02,090
Basic Pay	INR 53,600 (Increment of 2645 provided for 14 years)
Basic Pay after 14 years of service	INR 90,630
Maximum Basic Pay	INR 1,02,090
Total CTC (Cost to Company) in Mumbai	16 Lakhs per annum

ECGC PO Salary Structure 2024

The ECGC PO 2024 salary structure is designed to offer a competitive compensation package. The basic pay is set at Rs 53,600, with additional allowances and benefits significantly increasing the overall salary. These include Dearness Allowance, House Rent Allowance, and Transport Allowance. Further allowances such as City Compensation, Grade Allowance, Special Functional Allowance, Family Allowance, and Special Pay also enhance the total pay. After accounting for standard deductions like NPS contributions, income tax, and professional tax, the approximate in-hand salary amounts to Rs 1,13,395.

Components	Amount (Rs)
Basic Pay	53,600
Dearness Allowance (DA)	24,596
House Rent Allowance (HRA)	32,500
City Compensation	983
Grade Allowance	6,000
Special Functional Allowance	775
Family Allowance	950
Transport Allowance	1,330
Special Pay	1,800
Total Gross Salary	1,22,534
Deductions
– NPS	5,739
– Income Tax	3,200
– Professional Tax	200
Total Deductions	9,139
Approximate In-Hand Salary	1,13,395

ECGC PO In Hand Salary 2024

The in-hand salary for an ECGC PO in 2024 is a substantial amount, combining the basic pay with several allowances, including Dearness Allowance (DA), House Rent Allowance (HRA), Family Allowance, and Transport Allowance. After accounting for standard deductions like income tax and contributions to the National Pension Scheme (NPS), newly recruited Probationary Officers can expect to receive an in-hand salary ranging from Rs 53,600 to Rs 1,13,395. This attractive starting salary is just the beginning, as it will increase over time with continued service and experience.

Salary Component	Amount
Pay Scale	INR 53,600 – 2,645 (14) – 90,630 – 2,865 (4) – 1,02,090
Basic Pay	INR 53,600 (Increment of 2,645 provided for 14 years)
Basic Pay after 14 Years of Service	INR 90,630
Maximum Basic Pay	INR 1,02,090
Total CTC (Cost to Company) in Mumbai	INR 16 Lakhs per annum

ECGC PO Monthly Salary 2024

The starting basic pay for an ECGC PO is Rs 53,600 per month, with an annual increase of Rs 2,645. This salary includes various allowances along with the basic pay. For a complete breakdown of the ECGC PO Salary Structure in 2024, you can refer to the details provided below.

Component	Details
Initial Basic Pay	₹53,600 per month
Annual Increment	₹2,645 per month for the first 14 years
Basic Pay after 14 Years	₹90,630 per month
Subsequent Annual Increment	₹2,865 per month for the next 4 years
Maximum Basic Pay	₹1,02,090 per month
Total Cost to Company (Mumbai)	₹16,00,000 per annum

ECGC PO Salary Pay Scale 2024

The salary structure for ECGC Probationary Officers (PO) is highly attractive, especially in metropolitan cities. The ECGC PO pay scale starts at INR 53,600, with increments over the years. After deductions, the in-hand salary for a newly recruited PO in a metropolitan city exceeds Rs. 1 lakh. Here’s a detailed breakdown of the ECGC PO salary structure:

ECGC PO Salary 2024	Details
Pay Scale	INR 53,600-2645(14)-90,630-2865(4)-1,02,090
Starting Basic Pay	INR 53,600
Annual Increment	INR 2,645 (for the first 14 years)
Basic Pay after 14 years	INR 90,630
Maximum Basic Pay	INR 1,02,090
Total CTC in Mumbai	INR 16 Lakhs per annum

ECGC PO Perks and Allowances

Along with the ECGC PO Salary, candidates are also rewarded with some benefits which makes the ECGC PO Salary 2024 more attractive. Check the details of the ECGC PO Salary- Perks and Allowances below.

Benefit/Allowance	Details
Cash Medical Benefit	₹13,300 per year
Mobile Bill Reimbursement	₹400 per month
Mobile Handset Reimbursement	₹10,000 once every three years
Entertainment Reimbursement	₹800 per month
Household Help Reimbursement	₹1,000 per month
Furniture Allowance	₹87,500 + GST once every five years
Meal Vouchers	₹205 per working day
Med Claim Coverage	Up to ₹40 lakhs for the family (candidate pays one-fourth of the premium)
Office Carry Bag Reimbursement	₹3,000 once every three years
PLI Bonus	Total yearly Basic + DA up to 6% (maximum)
Paid Leaves	30 days every two years, redeemed on Basic, DA, CCA
Defined Pension Scheme	10% of Basic Pay + DA (equal contribution by the corporation)
Travel Allowance	2nd AC fare of 4,500 km to and fro with family every two years, or Leave Travel Concession to hometown for self every year

ECGC PO Salary Deductions

Along with the allowances, there will be certain deductions in the ECGC PO Salary as well. The deductions in the salary include:

Provident Fund (PF)
Income Tax
National Pension Scheme (NPS)

The amount of deduction will be as per govt rules.

ECGC PO Job Profile 2024

As an ECGC PO, candidates have important tasks and duties. Their role will primarily involve managing export transactions and preparing detailed reports on these business activities. Additionally, ECGC POs are stationed in urban areas, as the organization does not have branches in rural locations.

Overseeing Export Credit Insurance: Officers monitor and manage credit insurance processes to safeguard exporters against non-payment risks.

Managing Financial Transactions: POs ensure the smooth execution of financial operations tied to export activities, facilitating payments and credit.

Data Analysis and Reporting: Officers prepare comprehensive reports, analyzing export data and assessing the performance of credit insurance.

Urban-Based Postings: Unlike other government roles, ECGC POs are exclusively posted in cities, as the corporation operates only in urban locations to focus on export and trade services.

Career Advancement Opportunities in ECGC PO

A career as an ECGC PO provides excellent opportunities for professional growth. As employees move through various roles, they gain a deeper understanding of the bank’s operations and have multiple opportunities to demonstrate their skills and potential. Check the hierarchy for ECGC PO below.

Executive Officer/Probationary Officer – Scale I
Assistant Manager – Scale II
Manager – Scale III
Senior Manager – Scale IV
Assistant General Manager – Scale V

Position	Description
Probationary Officer (Scale I)	Entry-level role, focusing on training and daily operations, familiarizing with policies.
Assistant Manager (Scale II)	Promotion after probation; involves team management and handling more complex tasks.
Manager (Scale III)	Oversees projects and departments, responsible for strategic planning and management.
Senior Manager (Scale IV)	Handles larger teams, involved in key decision-making and managing advanced functions.
Assistant General Manager (Scale V)	Senior role responsible for strategic planning, policy-making, and shaping organizational direction.

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Most Expected Reasoning Questions for ECGC PO Exam 2024

Q1: What is the starting basic pay for an ECGC PO in 2024?

A1: The starting basic pay for an ECGC Probationary Officer (PO) in 2024 is ₹53,600 per month.

Q2: What is the in-hand salary of an ECGC PO in 2024?

A2: The in-hand salary for an ECGC PO in 2024 ranges from ₹53,600 to ₹1,13,395 per month, depending on various allowances and deductions.

Q3: What additional benefits are provided to ECGC POs besides the salary?

A3: ECGC POs receive several perks, including medical benefits, mobile bill reimbursement, furniture allowance, travel allowance, and more, making the overall compensation package highly attractive.

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