Coal India Ltd (CIL) has declared a Performance Linked Reward (PLR) of 68,500 per employee to all its non-executive cadre workforce for 2019-20.
The total estimated financial implication is a little over ₹1,700 crore 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 payment would be made before October 22, said a press statement issued by CIL.
Despite the pandemic slowdown and crimp in coal sales, CIL offered a 5.87 per cent rise over the earlier year’s PLR of ₹64,700 per employee, the absolute increase being ₹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.