Singareni: Orders have been issued raising the retirement age to 61
Applicable to all retirees from 31st March this year
Retired employees and officers must join the duties by the 31st of this month
The cheers of the employees, the labor unions
CMD thanks to CM KCR
The management on Thursday (August 12) issued orders raising the retirement age of Singareni employees to 61 years.
It is learned that at the recent Singareni Board of Directors meeting chaired by CMD Shri N. Sridhar, the company had approved raising the retirement age of employees to 61 years as per the directions of CM KCR.
In this context, the Director (Personnel) Shri N. Balaram issued orders containing the duty policies related to raising the retirement age.
According to the orders, every employee and officer who retires after March 31 this year will be given the opportunity to return to duty. It is clearly stated that he should join the duties by the 31st of this month.
He said he would not be able to return to work if he did not return to work within the stipulated time. The period between the date of retirement and the date of return to duty is considered as “no work-no” pay. But that period is marked by company service.
Singareni will ask CMPF officials to withhold the pension of those who retire and return to duty. Employees who return to work will be required to undergo medical examinations in accordance with Coal Mines regulations.
Orders with comprehensive duty policies are made available to workers on all mine offices and notice boards throughout the company.
EP operators / MV drivers are required to renew their driving license within a month of joining the service. The retirement increase will benefit a total of 43,899,000 employees, including 1,082 who have already retired.
Highlights in Retirement Age Raise Orders
Employees and officers who retire on March 31 and receive gratuity and leave encasement must pay the company within 15 days of joining duty.
In case of non-payment of Gratuity, Leave Encasement, interest will be payable from the monthly salary as per the cash credit rate. They will pay the remaining amount as per the rules, excluding the amount already paid in the form of interest after retirement after the age of 61 years.
Terminal benefits such as Gratuity, FBIS, JPAIS, GIS, Leave Encasement are paid as per the rules after 61 years of retirement.
In the case of retirees who have taken pension and CMPF money, the next steps will be as per the directions of the CMPF officers. Different orders will be issued for these.
Those who retire after March 31 will be treated as deceased while in company service and their family benefits will be provided by the company.
Further processing but Gratuity, CMPF other claims will be withdrawn / canceled immediately. Processed after the employee, officer retires.
Those who have taken the CPRMS medical card should return them to the company. Cards are issued again after retirement. They can use the balance on it.
Employee pay revision will be as per JBCCI agreements. The salary revision of officers will be as per PRC / DPE regulations. The seniority of employees returning to duty will be protected.
Singareni employees, officials and trade union leaders expressed their happiness over the retirement age increase orders. CMD N Sridhar extended special thanks to CM KCR. Singareni stated that they will work with a greater sense of dedication to the enlistment..