NEW DELHI — The Railway Board has announced the appointment of Rajesh Naik as Director (Projects) at IRCON International Limited, following the approval of the President of India.
Tenure and Performance Review
Naik’s appointment took effect on February 13, 2026 (forenoon) and will continue until May 31, 2030 — the date of his superannuation — or until further orders, whichever is earlier. The appointment is subject to the provisions of the Companies Act, 2013.
After completing one year in office, his performance will be reviewed by the Government to determine continuation for the remainder of his tenure. Either party may terminate the appointment with three months’ notice or salary in lieu of notice.
Compensation and Benefits
Naik will receive a basic monthly salary of ₹180,000 under the 2017 IDA pay scale of ₹180,000–₹340,000, in line with Department of Public Enterprises (DPE) guidelines.
Additional benefits include:
- Dearness Allowance (DA) under the new IDA scheme
- Annual increment of 3% of basic pay, with stagnation increments subject to a performance rating of “Good” or above
- House Rent Allowance (HRA) and other perks as per DPE memorandums dated August 3 and 4, 2017
- Total allowances and perks capped at 35% of basic pay
- Performance-Related Pay (PRP) and superannuation benefits as per government norms
Housing and Official Facilities
He will be entitled to company-provided accommodation in New Delhi, either owned, leased, or self-leased, with rent recovery as per DPE norms.
The position also includes access to a staff car for official and limited personal use, subject to defined monthly mileage ceilings and prescribed recovery charges for non-official usage.
Conduct and Post-Retirement Restrictions
Naik will be governed by Conduct, Discipline, and Appeal Rules applicable to below Board-level executives, with the President of India serving as the Disciplinary Authority.
Following retirement, he will be barred for one year from joining any private commercial enterprise that has business dealings with IRCON, unless prior government approval is obtained.
The order was issued with the concurrence of the Finance Directorate of the Ministry of Railways.
IRCON International Limited is a public sector enterprise under the Ministry of Railways and specializes in railway infrastructure development in India and overseas.
