Coal India Limited (CIL) on Thursday declared a Performance Linked Reward (PLR) of Rs. 68,500 per employee to all 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 October 22.
The total estimated financial implication is a little over Rs 1,700 crores on account of the PLR. Around 2.62 Lakh employees of CIL and its eight subsidiary companies who were on the company’s roll in the FY’20 will stand to gain the PLR. The non-executives working in CCL is 33, 220 including CCL headqarters.
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. Director (Personnel and Industrial Relations), RP Srivastava and , Director (Finance) Sanjiv Soni represented CIL in the negotiations. CMD, Northern Coalfields Limited, PK Sinha and Directors (Personnel), CCL, Vinay Ranjan of other subsidiary companies were other members who made up the team.
“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'20 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.