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SAIL announces enhanced performance incentive for employees in 2020

Aiming to boost the purchasing power of workmen during the ongoing festive season, steel giant SAIL has announced enhanced performance incentive for its non-executive employees

SAIL announces enhanced performance incentive for non-executive employees in 2020
  • SAIL announces enhanced performance incentive for its non-executive employees in 2020

  • The idea behind SAIL's increased performance incentive decision is to boost the purchasing power of workmen during the ongoing festive season, said SAIL

New Delhi: Steel Authority of India Limited (SAIL) has announced an increased performance incentive for its non-executive employees for the ongoing festive season. In a statement, the steel PSU said that it has announced an increase of more than 6 percent in the annual payment of SAIL Performance Incentive or ex-gratia or bonus in comparison to the previous year to the Non-executive employees on the festive occasion of Durga Puja and 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 the 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 the government. This Ex-gratia will help in boosting the spending power of the workmen of SAIL in the ensuing festive period,” commented SAIL’s Chairman Anil Kumar Chaudhary.

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

The enhanced SAIL performance incentive will be disbursed to non-executive employees’ before the onset of the festive season (Durga Puja & Dussehra) and will augment the purchasing capacity of the employees during the festive season. Further, it will also aid in the 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 the economy.

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