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New Delhi, Oct 11

Indian Railways would give a Productivity Linked Bonus (PLB), equivalent to 70 days wages, to around 13.30 lakh of its non-gazetted employees for the financial year 2006-07. The proposal was cleared by the Union Cabinet today. Railways has a total of 14.2 lakh employees. This bonus would result in a total expense of about Rs 666 crore for Railways. The 70-day bonus would roughly translate into Rs 5,800 for most of the eligible employees, a railway ministry official said ad ding that the bonus would be handed out before Dussehra. Currently, the ceiling of bonus per employee is Rs 2,500 per month which translates into Rs 5,800 for 70 days. Railways had incurred an expenditure worth Rs 624 crore last year when it gave PLB equivalent to 65 days wages to its non-gazetted officials. “While a proposal to raise the ceiling of this bonus from Rs 2,500 per month to Rs 3,500 per month has been okayed by the Cabinet, it will need to be formalised through either a Bill or an Ordinance in the Parliament,” the official added.

– Our Bureau

More Stories on : Bonus Announcements | Railways

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