Workers of the Singareni Collieries Company Ltd (SCCL) would be given a 25% share in the company’s profits for 2016-17 as bonus along with performance-linked reward (PLR) of ₹57,000 each announced already. The two amounts would be credited to their bank accounts on Friday.
The fresh decision assumes significance as it comes only days ahead of the October 5 polling for identification of recognised trade union. Telangana Boggu Gani Karmika Sangham (TBGKS), affiliated to the ruling Telangan Rashtra Samithi, which was chosen as recognised union in the 2012 election, is making all-out efforts to win the election.
However, workers under the banner of the All India Trade Union Congress (AITUC), affiliated to the Communist Party of India backed by Indian National Trade Union Congress (INTUC), affiliated to Congress, and TNTUC of Telugu Desam Party are taking the fight into the union affiliated to the TRS.
Chairman and Managing Director of the coal company N. Sridhar stated on Thursday that the bonus from the 25% share in the profit made by the company last financial year would work out to ₹15,000 to ₹20,000 per worker. The performance-linked reward and bonus from the share in profits would work out to a total of ₹72,000 to ₹77,000 per worker.
Mr. Sridhar said Chief Minister K. Chandrasekhar Rao had directed the company to pay the bonus along with PLR before Dasara on Friday itself. Initially, it was planned to pay the PLR in the second week of October ahead of Deepavali.
The coal company workers were also paid festival advance of ₹120 crore at ₹25,000 each last week and the PLR amount worked out to ₹336 crore. In addition, the bonus announced on Thursday would benefit the workers by ₹98.84 crore more. Singareni officials stated that 25% share in profits announced as bonus now was highest ever in the company’s history. It was only 18% before formation of Telangana State, whereas it was increased to 21% for 2014-15 and 23% for 2015-16 and now 25% for 2016-17.
