SCCL staff to get up to Rs.1 lakh bonus

The Singareni Collieries Company Limited (SCCL) will be crediting double bonus, comprising 25 % from the profits for 2016-17 (Rs 98.84 cr) and advance Diwali bonus (Rs 57 cr), as well as salaries in advance to its employees totaling upto Rs 1 lakh on Friday.

 According to the company’s chairman and MD, D Sridhar, the Diwali bonus (productivity-linked), which had been earmarked for October, would be provided to employees, along with the bonus for 2016-17, in accordance with the instructions of Chief Minister K Chandrasekhar Rao. “Each employee



would be receiving between Rs 72,000 and Rs 77,000 as combined bonus,” the official said.  

Apart from the bonus, all employees had already received salaries in advance. This means that each of the employees would receive around Rs 1 lakh for this festive season.  The SCCL would be spending a total of Rs 554 crore towards payment of the employees’ double bonus and salaries in advance.  “After formation of Telangana, the government hiked the percentage of bonus from 18 percent to 25 percent,” he mentioned.