Singareni employees to get bonus on October 11

Hyderabad: Singareni Collieries Company Limited (SCCL) Chairman and Managing Director N Sridhar on Wednesday said the 29 per cent profit sharing bonus announced by Chief Minister K Chandrashekhar Rao will be paid on October 11 to all employees. Sridhar thanked the Chief Minister on behalf of Singareni employees and also conveyed best wishes to all […]

Hyderabad: Singareni Collieries Company Limited (SCCL) Chairman and Managing Director N Sridhar on Wednesday said the 29 per cent profit sharing bonus announced by Chief Minister K Chandrashekhar Rao will be paid on October 11 to all employees.

Sridhar thanked the Chief Minister on behalf of Singareni employees and also conveyed best wishes to all the employees. The company will disburse Rs 79.07 crore among the employees as profit sharing bonus. Similarly, Deepavali bonus (Production Linked Reward Bonus), which was announced recently, would also be credited in the National Coal Wage Agreement (NCWA) employees’ bank accounts on November 1, he said in a press release here.

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He said the company was allotting Rs 300 crore for the bonus and each NCWA employee would be getting Rs 72,500 as bonus.

The SCCL was allotting Rs 379.07 crore for these two bonuses. In addition, Singareni announced Rs 25,000 as festival advance and it would be paid on October 8. With the two bonuses and festival advance put together, each NCWA employee will get approximately Rs 1.15 lakh in the next three weeks.

He requested the employees to save this amount and not to spend it unnecessarily. He asked the employees to work with the same zeal and achieve set targets to get better bonuses and welfare schemes next year.

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