Singareni disburse Performance Linked Reward Scheme for the year 2019-20 to the Retired-employees

 SCCL disburse Performance Linked Reward Scheme

for the year 2019-20 to the Retired-employees 

SCCL decided to pay amount under Performance Linked Reward Scheme for the year 2019-2020 to the eligible ex-employees (Non-Executives), nominees of those employees who ceased to be on rolls of the Company due to various reasons like Death 1 Retirement 1 Resignation 1 Medical Unfit etc., during the period 2019-20 and 01-04 2020 to 11-11-2020 after due verification of pay sheets by F&A Department.

Amount under Performance Linked Reward Scheme shall be calculated on the basis of prorata attendance during the accounting year 2019-20 for ex-employees. To calculate the amount on prorata based attendance, the following procedure is to be adopted.

The maximum attendance to be taken per month is:

• 20 days (i.e.240/12) in case of surface employees.
• 16 days (i.e.190/12) in case of underground employees.

The following formula shall be adopted to arrive at the amount under Performance Linked Reward Scheme per month. Rs.68,5001- = Rs/- 360.521 RS.285.41 X No. of attendances in a month 190/240 not exceeding 16/20 days. However, the maximum amount payable per month shall not exceed Rs.5,708.20.

The total amount under Performance Linked Reward Scheme for the period the ex-employee (Non-Executive) was on rolls' during the year 2019-20 will be arrived at by taking the month-wise total of PLR amount. However, the total amount of Performance Linked Reward Scheme shall not exceed Rs.68,500/- per employee.

Amount under Performance Linked Reward Scheme as was laid down in the circular cited:

• Layoff musters with compensation
• Leave with Pay
• Sick leave with pay
• Casual Leave with pay
• Paid Holiday
• Maternity Leave/Accident sick etc.
• Special leave with full pay for sports relief etc.
• Special leave with half pay for chronic diseases under NCWA
• Transit leave.

Note: 30 actual musters during the period they were in service in the year 2019-20 are eligible for payment of amount under Performance Linked Reward Scheme.

SCCL decided to pay the amount to the eligible ex-employees through Bank.

Official Circular: