The management of Singareni Collieries Company Ltd (SCCL) has credited the 11th Wage Board arrears of ₹1,450 crore to the bank accounts of 39,413 workers on Thursday. Those who received highest arrears amount were handed over cheques personally.
Every worker of the company has received ₹3.7 lakh arrears on an average and the Head Overman of Ramagundam area V. Sudarshan Reddy received the highest amount of ₹9.91 lakh. Director (Finance & Personnel) N. Balaram said while transferring the arrears amount to the bank accounts of the workers that they would be paid Dasara and Deepavali bonus in time.
Speaking on the occasion, Mr. Balaram said it was for the first time in the history of the company that such huge arrears amount was paid in one go. Although it was planned to credit the amount in two phases, it was on the instructions of Chairman and Managing Director of the company N. Sridhar that the arrears were transferred in one go.
He mentioned that it was SCCL that was implementing the 11th Wage Board pay, revised salaries, earlier than Coal India Ltd. Some of the subsidiaries of Coal India were yet to pay the arrears and they were making arrangements to pay the amount in phases. The workers were paid the arrears after deducting the amounts towards income tax, coal miners’ pension fund and pension, he stated.
The management was making arrangements to pay ₹700 crore bonus, a share in the company’s profits as announced by Chief Minister K. Chandrasekhar Rao, in time and the performance linked incentive (PLI bonus) would also be paid before the Deepavali festival. He asked the workers to make best use of the arrears for their families’ future and welfare.
V. Sudarshan Reddy (₹9.91 lakh), EP Operation of Ramagundam-2 area Mirza Osman Baig (₹9.35 lakh) and Head Overman of Srirampur area A. Rajamallu (₹9.16 lakh) were handed over cheques and felicitated by the Area General Managers concerned in their field offices.
In the corporate office of the company here, General Manager (Coordination) M. Suresh along with Mr. Balaram handed over wage board arrears cheques to Lachaiah (₹6.97 lakh), Ravi Babu (₹6.81 lakh) and Satyanarayan Reddy (₹6.69 lakh).