Update- Keeping in view the number of queries that have been raised in the same thread, it has been decided to retain this thread in the forum itself due to the restrictions applicable in the AE section. Members are requested to use their best judgement while posting responses here.
'Our knowledge is a receding mirage in an expanding desert of ignorance'- Will Durant.
All national institutes of technologies and IIts will be under the governance of Ministry of HRD, Government of India, The pay scales will be as per the UGC norms. The scales are dependent on the experience also. For experienced people, they will give some advanced increments also. Earlier they used to call the designations of teaching staff as Professors, Readers and Lecturers. But now they are changed as Professors, Associate Professors and Assistant Professor. For all the three positions the educational qualifications are same that is doctorate degree in the concerned subject. For next promotions to a higher level will depend upon your experience, the number of papers published and a number of students obtained PhD under the guidance of the staff. They are not stressful and people who are interested in working on research projects will have a lot of scope for working. The government will sanction projects to work upon. The salaries are not very low and a lecturer starting salary will be around 80,000/- rupees per month and it is a pride to work in such institutions and the candidates having worth will get international exposure and recognition. These jobs are permanent in nature and all benefits will be there, The pension rules are applicable and Pf rules are also applicable.
AGP: academic pay grade
for Assistant professors: 7000,8000,9000
for Professors it is around 10500
For AP with AGP of 900 it is Rs 37400 and for Professors it starts from Rs 48,000.
The TA is around Rs 3200
The DA is 107% of the basic pay and TA
Since the list of questions is too vast, I'm enclosing the links regarding salaries and other regular benefitsfor NIT staff
They also are eligible for the Central Government pension scheme on par with other central government employees. Those recruited before 2004 will have the old scheme and those after 2004 will have to follow the new central government pension scheme guidelines.