Coal India and its subsidiary Singareni Collieries Company Ltd. (Singareni Collieries Company Ltd- SCCL) non-executive cadre employees will get a PLR of Rs 72,500 for the financial year 2020-21.
New Delhi: Ahead of the festive season, public sector Coal India Ltd. (Coal India Limited) has announced a performance-based incentive ie PLR (Performance-Linked Reward) of Rs 72,500 for all its non-executive cadre workforce for the financial year 2020-21. The Maharatna company said that the PLR will be paid on or before October 11, 2021. That is, the employees will get the reward before Dussehra.
Reward of Rs 72500 to all employees
The company said, ‘Coal India and its subsidiary Singareni Collieries Company Ltd. The non-executive cadre employees of (Singareni Collieries Company Ltd- SCCL) will be given a PLR of Rs 72,500 for the financial year 2020-21. The decision was taken in a bilateral meeting between the representatives of the Central Trade Unions and the management of Coal India and SCCL.
The company made bumper profit in the June quarter
The company made a lot of gains in the June quarter. Coal India’s profit grew 52.4 per cent to Rs 3,169.85 crore in the first quarter of the current financial year. In fact, the company’s profits have increased tremendously due to the increase in operating income. Let us tell you that in the first quarter of the last financial year, the company earned a profit of Rs 2,079.60 crore.
80% share in coal production
Let us tell you that the raw coal offtake of the company was 120.8 million tonnes in the same quarter a year ago, which increased to 1604 million tonnes. That is, the share of Coal India in the country’s coal production is more than 80%. Coal India plans to invest Rs 1.22 lakh crore in coal mine exploration, extraction and clean coal technologies to achieve the coal production target of one billion tonnes by 2023-24.
Demand for raising the retirement age
Meanwhile, the demand for employees and workers is increasing continuously from the company. Let us tell you that earlier the workers of the company were demanding 50 percent increase in daily wages. But now the trade union is demanding from the company that the retirement age limit of the employees working there should be increased from 60 years to 62 years. Let us tell you that about 2 lakh 56 thousand workers work with Coal India. About 5 percent of the employees are retiring every year. The company spent a total of 38 thousand 700 crores ($ 5.2 billion) on the salary of the employees in the financial year 2020-21.
