Companies

Mahanadi Coalfields annuity plan

Our Bureau Kolkata | Updated on March 23, 2013 Published on March 23, 2013

Mahanadi Coalfields Ltd (MCL) has announced an annuity plan of Rs 12,000 a month for land losers eligible for employment in the coal-bearing areas of the CIL subsidiary.

According to a MCL release, its Board has approved the scheme aligned to the Resettlement and Rehabilitation Policy (2006) of Government of Odisha.

The land losers, who have other sources of income, may now opt for the annuity of Rs 12,000/month until the age of 60 years in lieu of employment in the company, the release said. The annuity amount would also be inflation-adjusted.

According to the release, if a person availing annuity dies before 60 years of age, his or her spouse will be entitled to get 75 per cent of annuity amount for the remaining years.

> ayan.pramanik@thehindu.co.in

Published on March 23, 2013
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