The employees of the Singareni Collieries Company Limited will receive hefty bonus and festival advance this year.
The SCCL management has announced its decision to give a bonus (performance linked reward) of ₹ 57,000 each for Diwali in addition to Dasara festival advance of ₹ 25,000, taking the total to ₹ 82,000. The commitment will cost the company ₹ 456 crore — ₹ 336 crore towards bonus and another ₹ 120 crore towards festival advance.
SCCL Chairman and Managing Director N. Sridhar said on the instructions of Chief Minister K. Chandrasekhar Rao, the company had decided to give bonus of ₹ 57,000, ₹ 3,000 more than ₹ 54,000 paid out the previous year. Similarly, the festival advance had been enhanced from ₹ 18,000 to ₹ 25,000.
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The festival advance would be credited to the accounts of the workers on September 22 while the bonus would be credited into the accounts in second week of October. Conveying his greetings to workers, the CMD advised them to utilise the amounts judiciously to meet their needs.