Engineering Physics degree holders from IITs are involved in research and development activities. They usually get hired by various industries like telecom, microelectronics, lasers and micro devices etc.

Also, students with Engineering Physics degree from IITs generally holds the designation of scientists, technical director, staff engineer and managing engineer.

Apart from that, there are many big companies which recruit these engineers as few of them are mentioned below -

Microsoft
Oracle
CISCO
BMG
RBS India Development
National Physical Laboratory
DRDO
Indian Space Research Organization (ISRO)
Vikram Sarabhai Space Centre (VSSC)
BHEL
Applied Research International

Good Luck!!!