Coal India has announced a performance-linked reward or PLR of Rs 68,500 per employee for 2019-20. All non-executive cadre employees will be paid the reward before October 22. The same will mean a financial burden of over Rs 1,700 crore for the state-owned coal mining and refining company. The reward is linked to the attendance of the employees during 2019-20.
The reward will benefit about 2.62 lakh employees on the rolls of the Indian public-sector company, as well as its eight subsidiaries.
In spite of the pandemic resulting in a slump in demand for coal, CIL has increased the PLR by Rs 3,800, in consultation with the trade unions. It had paid Rs 64,700 per employee the previous year. The non-executive employees who have worked for a minimum of 30 working days in 2019-20 are eligible for the PLR on a pro-rata basis.
It is the usual practice for CIL to pay a productivity-linked bonus to its employees around the time of Durga Puja, for the previous fiscal. In the 2018-19 period, CIL had spent more than Rs 17 billion on the bonus.
It is CIL’s belief that timely payment of PLR, with the festive season just around the corner, will motivate the employees to perform better.
Coal India booked 41.4 million tonnes of raw coal in e-auctions during the April-September 2020 period, which is much more than the 25.1 million tonnes booked in the same period in the previous financial year.