NEW DELHI: Coal India Ltd NSE 0.68 % (CIL) declared a performance-linked reward of Rs 68,500 per employee to all non-executive cadre workforce for the year 2019-20, estimated to cause financial impact of over Rs 1,700 crore to the company.
The reward is linked to attendance of the workforce during the year and the payment would be made before October 22, a company executive said.
Around 2.62 Lakh employees of CIL and its eight subsidiary companies who were on the company’s roll in FY20 are likely to receive the reward.
“Despite the pandemic slowdown and crimp in coal sales, CIL offered a 5.87% rise over the earlier year’s PLR of Rs. 64,700 per employee, the absolute increase being Rs.3,800. The non-executive employees who have completed at least 30 working days during 2019-20 will be eligible for the payment on a pro-rata basis,” the executive said.
