Hyderabad: In good news to the employees of the Singareni Collieries Company Ltd (SCCL), the management upon the directions of Chief Minister K Chandrashekhar Rao has decided to release 28 per cent bonus on profits to its staff on October 23 along with the pending part of March month’s salary withheld during Covid related lockdown in the State.
In a statement here on Tuesday, the Chairman and Managing Director of SCCL N Sridhar said that the state owned company has earned a profit of Rs 993.86 crore during 2019-20 and 28 per cent of that amounts to Rs 278.28. “As per this calculation each employee will receive around Rs 60,468 as bonus. Similarly the withheld salary will also be deposited into their accounts on October 23. The festival advance of Rs 25,000 which is an annual fare will be deposited into their accounts on October 19,” he said.
Thanking the Chief Minister on behalf of the SCCL staff, the CMD said that even though the coal industry was under severe financial duress, because of the lockdown the government took the decision to release the bonus and other benefits keeping in mind the welfare of the staff. The Chief Minister on the hand has been increasing the percentage of bonus for the staff of the collieries since the formation of the State on an annual basis.
While the percentage of bonus was only 18 per cent in 2012-13, Chief Minister increased it to 20 per cent (Rs 83.65 crore) immediately after formation of the State, then to 21 per cent (Rs 103 crore) in 2014-15, 23 per cent (Rs 245 crore) in 2015-16, 25 per cent (Rs 98.85 crore) in 2016-17, 27 per cent (Rs 326.25 crore) in 2017-18, and 28 per cent (Rs 479 crore) in 2018-19. The staff is expressing happiness over the declaration of 28 per cent of bonus this year by the Chief Minister.
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