Bonanza for Coal India staff! CIL employees to get Rs 60,500 performance-linked bonus
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Coal India (CIL) has approved the performance linked reward of Rs 60,500 for its non-executive employees against the company’s performance in FY18.
The decision was taken by the company’s standardisation committee on Friday.
Though the bonus amount is more than the Rs 57,000 it announced last year, the number of employees have been reduced by about 7% in the same period to about 2.8 lakh.
Expenses under performance related payment was Rs 156.19 crore in FY18, down from Rs 198.97 crore in FY17.
Employee benefit expenses constitute about 52% of the total cost of the company. CIL’s FY18 net profit fell more than 24.3% annually to Rs 7,020.22 crore, as employee expenses had risen 31% to Rs 21,860 crore due to wage revisions.
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