Companies

Telangana Chief Minister nod for ₹111 crore performance related pay for Singareni Collieries officials

Our Bureau Hyderabad | Updated on January 06, 2021

Telangana Chief Minister K Chandrashekar Rao on Wednesday agreed for performance related pay (PRP) for the year 2018-19 to officials of the State-owned Singareni Collieries Company limited.

This approval will entail a payment of ₹111 crore as PRP for the year to 2,500 officials. Each Singareni official is likely to receive ₹1 lakh to ₹5 lakh, according to a statement.

N Sridhar, Chairman and Managing Director of SCCL, thanked the Chief Minister for clearing the PRP which would be paid to the officials in February.

While ‘it is Deepavali bonus for the workers, it is PRP for officials.’ Every year Coal India Limited pays PLRS (performance linked reward scheme) to its workers in the name of Diwali bonus. Similarly, the Chief Minister agreed to pay Deepavali bonus along with profit bonus to the workers every year. For 2019-20, KCR agreed for profit bonus of 28 per cent (₹278 crore), Deepavali bonus of (₹261 crore), together amounting to ₹539 crore. Each employee received approximately ₹1.6 lakh in 2020.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 06, 2021
This article is closed for comments.
Please Email the Editor