Coal India to spend around Rs 1,600 cr for employees' bonus
Kolkata : Coal India is expected to spend around Rs 1,600 crore on account of paying performance linked reward its non-executive employees (PLR) for the financial year 2017-18, an official said.
"The outgo would be around Rs 1,600 crore for the payments of the performance link rewards to about 2.92 lakh employees," a Coal India official said.
The Standardisation Committee of the JBCCI-X (Joint Bipartite Committee for Coal Industry-X), has unanimously agreed to pay an amount of Rs 60,500 per employee on pro-rata basis to the non-executive cadre employees of Coal India and its subsidiaries as well as Singareni Coal Company Ltd. (SCCL) as performance linked reward (PLR) for 2017-18.
"Actual payment is linked to attendance and already provisions are made in the accounts," the official said.
The payment for CIL employees will be made on or before October 12 and in case of SCCL, the date of payment will be decided by itself.