Singareni Collieries deposit Rs 1,450 Cr in 39,000 workers' accounts towards arrears
While on average each employee received Rs 3.70 lakh per head, Ramagundam area head overman Vemula Sudarshan Reddy received the highest amount of Rs 9.91 lakh
HYDERABAD: The State-owned Singareni Collieries Company Ltd (SCCL) has deposited Rs 1,450 crore in the bank accounts of 39,000 workers of the coal company towards pending arrears. Director of finance and personnel N Balaram released the funds online and handed over high-value cheques directly to the employees.
While on average each employee received Rs 3.70 lakh per head, Ramagundam area head overman Vemula Sudarshan Reddy received the highest amount of Rs 9.91 lakh. “This is the first time in SCCL history that arrears have been paid on such a huge scale in a single go. The SCCL also released the 11th wage board salaries much ahead of Coal India,” Balaram noted. He said that the amounts were deposited after duly deducting statutory taxes and cuts.
Rs 700 cr for Dussehra
The SCCL staff would also receive another bonanza in the shape of a profit-based bonus of Rs 700 crore to be paid for the Dussehra festival. “Not only this, the bonus for Deepavali will also be paid ahead of the festival,” Balaram said.