Ahead of the festival season, coal Public Sector Undertakings (PSUs) like state-owned Coal India Ltd. (CIL) on Friday announced a reward of Rs 1.03 lakh for its non-executive workers, a move that will have a financial implication of Rs 2,153.82 crore. A performance-linked reward (PLR) is a payment or benefit given to an individual for achieving specific, measurable goals.
The PLR aims to recognise the contribution and hard work of non-executive workers across all CIL subsidiaries and state-owned coal mining firm Singareni Collieries Co Ltd (SCCL) and ensure they are fairly rewarded for their efforts.
The payment of PLR provides a timely boost to workers and their families during the festive season. The PLR will benefit around 2.1 lakh non-executive cadre employees of CIL, its subsidiaries and around 38,000 non-executive cadre employees of SCCL.
Coal India accounts for over 80% of domestic coal output. “The incentive was announced after the sixth meeting of the standardisation committee of Joint Bipartite Committee for the coal industry,” the coal ministry said in a statement.
The amount will be credited on a pro-rata basis, depending on attendance.
