By Admin 
We all feel that the highest salary or salaried jobs in the country are held by officers holding posts like IAS, IPS and IFS, which are obtained through UPSC. This is true in many ways, because this is one of the biggest and most powerful positions in the country. However, many people do not know that even more than the salary of bureaucrats like IAS and IPS, the salary of another officer is higher, who works on the post of Chairman and Managing Director (CMD) in Public Sector Undertaking (PSU) companies. The salary of the officer holding this post is very high.
What are PSU companies?
Public Sector Undertaking (PSU) companies are those companies in which the government has about 51 percent or more stake. That means these are government companies only. Their work is related to power generation, exploration, management and production of oil and natural resources. These government companies include companies like ONGC, IOCL, BPCL, NTPC, BHEL, SAIL, SBI, PNB.
Position and responsibilities of CMD
The chief officer of these Public Sector Undertaking (PSU) companies is called CMD i.e. Chairman and Managing Director, who is the senior most officer of the company. The job of the CMD is to plan the future of the company, lead board meetings and take investment decisions. PSU companies are completely answerable to the government. The CMD works closely with the government and reports every important matter to the concerned ministries. It also gives information about government goals to the government and prepares future strategies.
Government facilities and salary received by CMD
- The salary of CMD depends on which category the company falls in, i.e. Maharatna, Navratna or Miniratna.
- The basic salary of a CMD usually ranges from ₹2 lakh to ₹3.70 lakh per month.
- CMD also gets dearness allowance, which is updated every 3 months. Apart from this, they are also given bonus facility.
- Along with salary, CMD level officers also get many facilities from the government. These include facilities like accommodation, government vehicles, medical facilities, travel expenses and security. All these benefits are available to the officer as well as his family.
Also read: Why did the three biggest battles of India take place in Panipat only? Why did the king not choose any other place?
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