Friday, 22 November 2024
Trending
BusinessIndia

Indian Railways to Give 78 Days’ Salary as Bonus to 12 Lakh Employees

  • 11.7 lakh railway employees to receive a bonus equivalent to 78 days’ salary.
  • The bonus, totaling ₹2,028.57 crore, is based on the seventh pay commission for the first time.
  • Maximum bonus payout for eligible employees is ₹17,951, incentivizing improved railway performance.

The Indian government has approved a Productivity Linked Bonus (PLB) for 11.7 lakh railway employees, equivalent to 78 days’ worth of salary.

The maximum bonus payout for eligible employees is set at ₹17,951, depending on their salary. Sarvjeet Singh, the National General Secretary of the Indian Railways Employee Federation (IREF), played a key role in this transition by appealing to Union Minister Ashwini Vaishnaw.

Railways Employees to Receive 78-Day Salary Bonus Under Seventh Pay Commission

Nearly 12 lakh railway employees in India will receive a bonus equivalent to 78 days’ wages, calculated under the seventh pay commission for the first time. This bonus, also known as the Productivity Linked Bonus (PLB), recognizes the dedication and performance of non-gazetted railway employees across various categories. The total financial outlay for this initiative is ₹2,028.57 crore, with a maximum payout of ₹17,951 for eligible employees.

This decision marks a shift in the bonus calculation system, as the Indian Railways previously based the PLB on the sixth pay commission. Even though the seventh pay commission had been implemented for railway employees in 2016, the PLB calculations continued to rely on outdated parameters until this year. The change comes after a concerted effort by railway unions, particularly the Indian Railways Employee Federation (IREF).

The transition to the seventh pay commission is expected to have a positive impact on employees’ morale and performance. The PLB, designed to reward productivity, is a critical component of the government’s strategy to improve the efficiency of the Indian Railways, one of the country’s largest employers. This year’s bonus will serve as an additional incentive for the employees to continue their excellent work and contribute to the growth of the national transport system.

The introduction of this bonus comes at a time when the government is focusing on modernizing and improving railway infrastructure. With higher salaries and a more comprehensive bonus structure, the railway workforce is expected to play a key role in helping India achieve its long-term transportation and economic goals.

The Productivity Linked Bonus, based on the seventh pay commission, is a significant milestone for Indian Railways. This year’s bonus will not only reward the employees for their contributions but also motivate them to strive for even greater achievements in the future.

“The best way to find yourself is to lose yourself in the service of others.” – Mahatma Gandhi. This bonus rewards railway employees who serve millions of travelers daily.

Related posts
IndiaPolitics

Maharashtra 2024 Exit Polls: Mahayuti Leads, MVA Trails in Tight Contest

Mahayuti alliance predicted to win 128-195 seats in Maharashtra Assembly. MVA projected to secure…
Read more
Business

DOJ’s Push to Force Google to Sell Chrome Doesn’t Shake Investor Confidence in Alphabet Stock

The DOJ seeks to force Google to sell its Chrome browser to weaken its dominance in search…
Read more
IndiaWorld

PM Modi Welcomes Global Collaboration at G20 Summit in Brazil Amid Cultural Celebrations

PM Modi arrives in Rio de Janeiro for the 2024 G20 Summit, greeted by Indian diaspora with Sanskrit…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

Your email address will not be published. Required fields are marked *

AirlinesBusiness

United Airlines Expands Premium Wine Options to Economy Class

Worth reading...