The employees of the Hyderabad based Singareni Collieries Company Limited (SCCL,) are going to get their Diwali bonus on the 11th of October.
The State run coal mining company announced a huge amount of Dussehra, Diwali and advance bonuses for its employees.
Mr. N. Sridhar, the Chairman and Managing Director (MD) of the SCCL, confirmed the 29 % profit sharing amount. The profit sharing amount was announced by Mr. K. Chandrashekar Rao, the Chief Minister of Telangana, on the evening of the 6th of October.
The Telangana Rashtra Samithi (TRS) President approved the festival bonus to the SCCL employees. The Dussehra and Diwali bonuses would be paid to all employees on the 11th of October, Monday.
On behalf of the SCCL employees and management, Mr. N. Sridhar extended gratitude to the Telangana CM for the bonus approval. With this, the company is going to release Rs. 79.07 crore for Dussehra profit sharing bonus. In addition, the bonus amount for Diwali would be credited into the bank accounts of employees under the National Coal Wage Agreement on the 1st of November. For Diwali the SCCL would release Rs. 300 crores, providing Rs. 72,500 to each employee.
In addition to the announced bonuses, the company also decided to give Rs. 25,000 as festival advance which is to be paid on the 8th of October.
With this, each SCCL employee would get around Rs. 1.15 lakh as bonus and advance by the 1st of November. While Dussehra bonus and advance money would be released on the 11th of October, Diwali bonus is expected to be released by the 1st of November.
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