Cabinet may discuss rly staff bonus today

The is likely to discuss a railway ministry’s proposal for productivity linked bonus for its employees in a meeting scheduled to be held tomorrow. The had recently assured productivity-linked bonus (PLB) to its employees in the grade pay ranging from Rs 1,800 to Rs 4,600, thus entailing an additional burden of Rs 600-700 crore on the finances of the public-sector employer.

The assurance was given by Railway Minister after he held extensive discussion with various employees’ federation a few days back, officials said. The Union Cabinet is also expected to discuss a proposal forward by the agriculture ministry to set up the for South Asia to undertake advanced research on agricultural practices.

Named after famous agronomist and noble laureate Borlaug, the institute is proposed to be set up in Haryana in collaboration with Mexico-based International Wheat and Maize Improvement Centre (CIMMYT).

Meanwhile, on the railway employees bonus, officials said is linked to (net tonne km traffic) earning divided by the number of employees.

Though there has been an 83.37 per cent increase in passenger traffic and 74.95 per cent increase in goods traffic in terms of kilometres covered between 2000-2001 and 2008-2009, staff strength has been reduced by 10.29 per cent. The PLB paid approximately to 13 lakh employees will amount to Rs 8,975 per employee.

According to the Bonus Act, the maximum bonus allowed to the employee for 30 days is Rs 3,500. Actually, the federations had demanded 80 days’ bonus and had asked for PLB to the employees equal to their per day salary earning.

image
Business Standard
177 22
Business Standard

Cabinet may discuss rly staff bonus today

Disha Kanwar & Sanjeeb Mukherjee  |  New Delhi 



The is likely to discuss a railway ministry’s proposal for productivity linked bonus for its employees in a meeting scheduled to be held tomorrow. The had recently assured productivity-linked bonus (PLB) to its employees in the grade pay ranging from Rs 1,800 to Rs 4,600, thus entailing an additional burden of Rs 600-700 crore on the finances of the public-sector employer.

The assurance was given by Railway Minister after he held extensive discussion with various employees’ federation a few days back, officials said. The Union Cabinet is also expected to discuss a proposal forward by the agriculture ministry to set up the for South Asia to undertake advanced research on agricultural practices.

Named after famous agronomist and noble laureate Borlaug, the institute is proposed to be set up in Haryana in collaboration with Mexico-based International Wheat and Maize Improvement Centre (CIMMYT).

Meanwhile, on the railway employees bonus, officials said is linked to (net tonne km traffic) earning divided by the number of employees.

Though there has been an 83.37 per cent increase in passenger traffic and 74.95 per cent increase in goods traffic in terms of kilometres covered between 2000-2001 and 2008-2009, staff strength has been reduced by 10.29 per cent. The PLB paid approximately to 13 lakh employees will amount to Rs 8,975 per employee.

According to the Bonus Act, the maximum bonus allowed to the employee for 30 days is Rs 3,500. Actually, the federations had demanded 80 days’ bonus and had asked for PLB to the employees equal to their per day salary earning.

RECOMMENDED FOR YOU

Cabinet may discuss rly staff bonus today

The Cabinet is likely to discuss a railway ministry’s proposal for productivity linked bonus for its employees in a meeting scheduled to be held tomorrow. The railway ministry had recently assured productivity-linked bonus (PLB) to its employees in the grade pay ranging from Rs 1,800 to Rs 4,600, thus entailing an additional burden of Rs 600-700 crore on the finances of the public-sector employer.

The is likely to discuss a railway ministry’s proposal for productivity linked bonus for its employees in a meeting scheduled to be held tomorrow. The had recently assured productivity-linked bonus (PLB) to its employees in the grade pay ranging from Rs 1,800 to Rs 4,600, thus entailing an additional burden of Rs 600-700 crore on the finances of the public-sector employer.

The assurance was given by Railway Minister after he held extensive discussion with various employees’ federation a few days back, officials said. The Union Cabinet is also expected to discuss a proposal forward by the agriculture ministry to set up the for South Asia to undertake advanced research on agricultural practices.

Named after famous agronomist and noble laureate Borlaug, the institute is proposed to be set up in Haryana in collaboration with Mexico-based International Wheat and Maize Improvement Centre (CIMMYT).

Meanwhile, on the railway employees bonus, officials said is linked to (net tonne km traffic) earning divided by the number of employees.

Though there has been an 83.37 per cent increase in passenger traffic and 74.95 per cent increase in goods traffic in terms of kilometres covered between 2000-2001 and 2008-2009, staff strength has been reduced by 10.29 per cent. The PLB paid approximately to 13 lakh employees will amount to Rs 8,975 per employee.

According to the Bonus Act, the maximum bonus allowed to the employee for 30 days is Rs 3,500. Actually, the federations had demanded 80 days’ bonus and had asked for PLB to the employees equal to their per day salary earning.

image
Business Standard
177 22

More News

  • An IT SEZ in Tamil Nadu Government gives more time to 7 SEZs to implement projects
  • Goldman Sachs positive on Indian economy Goldman Sachs positive on Indian economy
Widgets Magazine

Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard