In a significant boost to non-executive workers across the coal sector, Coal Public Sector Undertakings (PSUs) have announced a Performance Linked Reward (PLR) of Rs 1,03,000 for the financial year 2024-25. The announcement, made after the 6th meeting of the standardisation committee of the Joint Bipartite Committee for the Coal Industry, will benefit around 2.1 lakh non-executive employees of Coal India Limited (CIL) and about 38,000 from Singareni Collieries Company Ltd (SCCL). The PLR is set to be credited on a pro-rata basis depending on attendance.
Scope and Financial Impact:
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The PLR will cover 2.1 lakh non-executive workers in CIL and its subsidiaries plus 38,000 non-executive employees of SCCL.
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Total financial implications amount to Rs 2,153.82 crore for CIL and Rs 380 crore for SCCL.
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The amount will be credited before the festival season providing timely financial support.
Purpose and Significance:
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The reward recognizes the hard work and contributions of non-executive workers in coal mining operations.
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It aims to boost morale, productivity, and job satisfaction among the workforce.
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Underlines Coal India's and Ministry of Coal's commitment to welfare and motivation of workers.
Payment Details:
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The PLR amount will be paid on a pro-rata basis depending on the worker’s attendance.
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This marks an increase from previous year’s PLR of Rs 93,750.
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The announcement was unanimously agreed upon after hours-long deliberations between management and trade unions.
Outlook:
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The PLR announcement comes as a morale booster ahead of the festive season.
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It highlights the integral role of non-executive workers in achieving India’s coal production targets and contributing to Aatmanirbhar Bharat.
Sources: Press Information Bureau, Ministry of Coal, The Economic Times, Business Standard, IndianPSU.com