Big Bonanza: Centre Announces Rs 28,000 Bonus, Wage Revision for This PSU Employees Ahead of Diwali

The decision was announced by the by Minister for Road Transport & Highways Nitin Gadkari  and Ram Chandra Prasad Singh, Minister of Steel.

Written by: India.com News Desk Edited by: Victor Dasgupta

Updated: November 1, 2021, 1:12 AM IST

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New Delhi: What can be termed as a big Diwali bonanza, the Modi government on Sunday announced a hefty bonus as well as wage revision for the employees of the state-owned Manganese Ore India Limited (MOIL). According to the latest update, the Manganese Ore India Limited (MOIL) employees will get a bonus of Rs 28,000.

The decision was announced by the by Minister for Road Transport & Highways Nitin Gadkari and Ram Chandra Prasad Singh, Minister of Steel.

The employees must note that the wage revision is for 10 years’ duration with effect from 1 August 2017 up to 31 July 2027, benefitting close to 5,800 company employees.  This comes after an MOU was signed between the management and recognized union of MOIL i.e. MOIL Kamgar Sanghatan (MKS).

The Proposal Includes:

•  The proposal includes fitment benefit of 20%
• Perks/allowances at the rate of 20%
• An Interim relief 12% of Basic and DA was given by the company with effect from May, 2019.

The company announced that it will be making the arrear payment in one go, which will have a financial impact of Rs 218 crores approximately for the period it is due i.e. from 1st August, 2017 to 30th September, 2021.

“In addition, the production linked bonus for all employees @ Rs 28,000/- for the year 2020-21 will be paid before Deepawli,” said the Ministry of Steel.