What is the rule of promotion?

Promotion shall mean movement of an employee from a post in a lower grade to a post in the next higher grade along the line of promotion in his discipline, as prescribed in these rules. Jumping of scale(s) shall not be allowed, save in specific case(s) for Selection Posts, as may be specified in these Rules. 4.2.

What is the promotion policy of a company?

A promotion policy helps the company to promote only those who are qualified and who will bring needed skills to advance the company. It also helps keep the company from getting sued and having to pay expensive legal fees.

What is E1 in PSU?

PSU are categorized in Miniratna, Navaratna and Maharatna and all are taking fresher’s at a different executive level. for example in maharatna entry level is start at E1(which is E3 in miniratna); and in Navaratna entry level is E1(which is E2 in miniratna).

What are the 5 basic types of promotion?

There are five (sometimes six) main aspects of a promotional mix: Advertising, Personal selling, Sales promotion, Public relations, and Direct marketing.

Can promotion be reverted?

They may be reverted at any time during this period by the authority competent to promote them, if their conduct and work are not satisfactory, or if they are found unsuitable for the appointment to which they have been promoted.

What is promotion policy in HRM?

A promotion policy signifies management’s commitment to recognize & reward excellent performance. It motivates people to aspire for advancement opportunities within the organization. A person is eligible for promotion if: He or she has completed at least three years & two appraisal cycles in the current role.

What is E3 in PSU?

Basic Pay – E3 Grade – ` 24,900/- to ` 50500/- pm & E4 Grade – ` 29100/ – to ` 54500/-pm. 2. Dearness Allowance – DA is currently 85.5\% of Basic – it is revised every quarter as per cost of living index (AICPI – All India Consumer Price Index).

What is the procedure for promotion in PSU?

In a PSU the employee becomes eligible for promotion after a particular year of service in a grade. This is commonly referred to as “Due”. The employee continues to remain eligible for promotion to the next grade, in every of the next promotion season, till he is promoted to the next grade.

What are the major PSU reforms in India?

The major PSU reforms are given below: The government gave them a significant degree of autonomy so they can perform better. PSU also must have a significant global presence. In 2010 Govt granted 4 Navratnas Maharatnas status to ONGC, IOCL, SAIL, and NTPC. After sometime Govt granted this status to CIL.

What is the importance of Public Sector Undertakings (PSUs) in Indian economy?

Therefore, PSUs hold a central platform of importance in the Indian economy through manufacturing and providing advancement in the field of science as well as being career magnet for youth for jobs. Public Sector undertakings (PSU) can be classified into three following categories:

What are the benefits of working in a PSU?

Salary – The PSUs offer an attractive package of salaries from 7 lakhs to 20 lakhs per annum which is really good considering the young age of aspirants as general age limit set by PSUs is often as low as 25 years. Easy promotions – You will get time bound promotions and various increments.