K M Dayashankar
Employees to get Rs 1.15 lakhs as bonuses and festival advances
Festival advance of Rs 25,000 on October 8
Profit linked bonus on October 11
Diwali bonus on November 1
PEDDAPALLI: It is festival time for the employees of the Singareni Collieries Company Limited (SCCL) as they would be getting 29 per cent of the profit as a bonus before Dasara, a productivity linked reward bonus for Diwali and Rs 25,000 festival advance on October 8.
In a press note here today, Singareni chairman and managing director N Sridhar said that following Chief Minister K Chandrashekhar Rao’s instructions to provide 29 per cent profit-sharing as a bonus would be paid to the employees on October 11. The Singareni would pay Rs79.07 crores as a profit-sharing bonus to all employees.
Similarly, the Diwali bonus (Production Linked Reward Bonus) which was announced recently would also be credited in the NCWA (National Coal Wage Agreement) employees bank accounts on November 1. The company is allotting Rs300 crores for this bonus. Each NCWA employee would be getting Rs 72,500 under this bonus.
The Singareni had allocated Rs 379.07 crores for these two bonuses. In addition to bonuses, the company had also announced Rs 25,000 to each employee as festival advance, which would be paid on October 8.
With the above two bonuses and festival advance put together, each NCWA employee would get approximately a total amount of Rs1.15 lakh in the next 3 weeks time. The Chairman informed the employees to save the amount and do not spend unnecessarily.