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Indian Oil Corporation Limited is an Indian Government Corporation that comes under the Ministry of Petroleum and Natural Gas, Government of India. Indian oil has been fulfilling the energy needs of the country for a long time. The corporation has large refineries, Pipeline, and Marketing structure and owns companies such as Indane and Servo. It is empowered with ‘Maharatna status’.
Comparisons
IOCL is a downstream company that mainly works in refining and marketing. There is a good work-life balance in IOCL that makes it more preferable. There is less risk involved in this job as compared to PSUs like ONGC.
IOCL is India’s biggest oil distribution company and it also offers recruitment at different locations in the country. The students of engineering and management are mostly recruited by it. It also recruits for various other positions such as finance, lab officers, medical officers, and many others.
Salary Structure, Allowances, and Benefits
In starting the IOCL officer gets the basic pay of 50k. The candidates selected get dearness allowances and other allowances that get amended from time to time. The allowances include Medical allowances, Location allowances, Telephone allowances, Mining Allowances, Post-retirement facility plan Allowances, Performance Allowances, Conveyance Maintenance Allowance, Superannuation Benefits Allowance, Composite Social Security plan as per company guidelines. Other Allowances include House Rent Allowance, Shift Allowance, Superannuation Benefits, and Higher Ceiling for Perks Benefits.
Selection process
IOCL announces the vacancies on its official website https://iocl.com/ the candidate interested can apply on this site. IOCL also invites candidates for apprenticeships in IOCL in technical and non-technical fields.
The different ways to get the job in PSU is
Direct selection
Gate exam
NET exam, UGC net, or CSIR Net
The jobs of PSUs are always challenging and in-demand many people have a dream of getting this job one day. IOCL is always a better option if you are getting it as a PSU.