SCCL to contribute Rs 10 per tonne of coal produced to CMPS
Hyderabad: Singareni Collieries Company Limited (SCCL) Chairman and Managing Director N Sridhar on Thursday said that Rs 10 per tonne of coal production would be deposited in the Coal Mines Pension Scheme (CMPS) that would help in payment of pensions to retired employees. He announced the decisions of the 556th Board of Directors meeting under […]
Hyderabad: Singareni Collieries Company Limited (SCCL) Chairman and Managing Director N Sridhar on Thursday said that Rs 10 per tonne of coal production would be deposited in the Coal Mines Pension Scheme (CMPS) that would help in payment of pensions to retired employees.
He announced the decisions of the 556th Board of Directors meeting under his chairmanship held at Hyderabad Singareni Bhavan here.
After retirement, the workers would be given Coal Mines Provident Fund (CMPF) in full along with monthly pension which is calculated based on their number of years in service. “The number of workers retiring has gone up and hence there is a shortfall of funds. To compensate this, Singareni will pay Rs.10 for every tonne of coal produced to the CMPS fund along with Coal India,” Sridhar said.
This would help in smooth payment of pension to retired workers. Sridhar said the Board also approved the purchase of 12 motor graders at different OC mines at a cost of Rs 33.74 crore and 21 SDL machines needed for underground mines at a cost of Rs 7.13 crore.
The Board also approved the arrangement of mobile crushers at four OC mines apart from approving removal of overburden from RG Open Cast -3, Ramakrishnapur open cast, Srirampur open cast, KTK open cast projects.
The board primarily agreed to award small contract works to SC/ST community as per Government Order No 59. The framework and procedure with regard to this will be formed as per the GO, he said.
The Board approved Rs 2,550 crore annual budget for the year 2021-22.
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