TPN , Hyderabad: Singareni Collieries Company Limited (SCCL) Chairman and Managing Director, N Balram, announced that 33 percent of the company’s profits will be distributed as a bonus to coal workers on October 9.
While part of a State government delegation touring the US, Balram conducted a virtual review meeting on Tuesday, directing officials to release the bonus before the Dasara festivities. The Congress government has announced a total of Rs 796 crore as a profit share bonus for employees.
Each of the 41,835 permanent employees will receive a bonus of Rs 1.9 lakh. Additionally, for the first time, a bonus of Rs 5,000 each will be given to the 25,000 contract employees of the company. The profit share bonus for contract employees is calculated based on the number of days they worked in the previous financial year, according to company officials.