Team News Riveting
Coal India Limited (CIL) on Thursday declared a Performance Linked Reward (PLR) of Rs 68,500 per employee for its non-executive cadre workforce for the year 2019-20.
This is linked to their attendance during the period. The payment would be made before 22 October.
The CIL would shell out a little over Rs 1,700 crore on account of the PLR. Around 2.62 Lakh employees of CIL and its eight subsidiary companies on the company’s roll in the FY ’20 would stand to gain the PLR.
Despite the pandemic slowdown and crimp in coal sales, CIL offered a 5.87 per cent rise over the earlier year’s PLR of Rs. 64,700 per employee, the absolute increase being Rs 3,800.
The non-executive employees who have completed at least 30 working days during 2019-20 will be eligible for the payment on a pro-rata basis.
The pact was amicably sealed in the 10th meeting of the Standardization Committee of the Joint Bi-partite Committee of Coal Industry (JBCCI-X) held in Ranchi on Thursday between CIL’s management and representatives of the central trade unions.
“We are happy that we could conclude the performance related reward on time to the satisfaction of both sides for the benefit of our employees. The company always enjoyed harmonious industrial relations with the unions” said a senior executive of the company.
CIL turned the corner in September with its output and supplies scripting a high growth of nearly 32 per cent in both the parameters. The company is sustaining the performance pace during the ongoing month as well.
“The payment ahead of the festive season should enthuse our employees to put in greater effort to raise our performance levels significantly”, said the referred executive. CIL is a manpower intensive industry and the largest corporate employer in the country.
