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SAIL Announces Enhanced Performance Incentive for 2020 for its Non-Executive Employees

Oct 18th, 2020 12:49 pm | By | Category: LATEST NEWS

New Delhi, 17th October, 2020: Steel Authority of India Limited (SAIL) has announced an increase of more than 6% in the annual payment of SAIL Performance Incentive / ex-gratia / bonus in comparison to previous year to the Non-executive employees on the festive occasion of Durga Puja / Dussehra. It was finalized based on discussions and mutual agreement between SAIL Management and Sr. Central Trade Union leaders representing the workers and belonging to the constituent Unions of NJCS viz. INTUC, CITU, AITUC, HMS & BMS. In line with the Government’s initiative to boost economy by way of incentivising the working class, SAIL has also announced the distribution of Ex-gratia during the festive season. While an amount of Rs. 16,500/- will be paid to the Non-executive employees of SAIL’s five Integrated Steel Plants at Bhilai, Bokaro, Durgapur, Burnpur and Rourkela and also Raw Materials and Collieries Divisions, an amount of Rs. 14,500/- will be paid to the Non-executive employees of other plants and units of SAIL.

“SAIL prioritizes the welfare of its workforce and is committed to take strides in strengthening such initiatives by Government. This Ex-gratia will help in boosting the spending power of the workmen of SAIL in the ensuing festive period”, commented Anil Kumar Chaudhary, Chairman, SAIL.

The enhanced SAIL Performance Incentive will be disbursed to Non-executive employees’ before the onset of festive season (Durga Puja/Dussehra) and will augment the purchasing capacity of the employees during the festive season. Further, it will also aid in infusion of liquidity and boost the economic activity especially in the Steel Townships and facilitate in alleviating, to some extent, the adverse impact of COVID on economy.

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