Singareni: Under Profit and Diwali Bonuses Rs. 379.07 Cr Company paying to workers: CMD N Sridhar wishes Dussehra to workers
Profit bonus payment to Singareni workers on the 11th of this month
Diwali bonus on November 1, festival advance payment on the 8th of this month
Through these three, the average worker earns up to Rs 1.15 lakh Payments
Chief Minister Shri Kalwakuntla Chandrasekhar Rao announced that the 29 per cent profit bonus announced for Singareni workers would be paid on the 11th of this month (October). Mr. N. Sridhar CMD said in a statement today. On the occasion, he thanked the Chief Minister of the state on behalf of the Singareni employees. Also conveyed his best wishes to the workers.
The company will distribute Rs 79.07 crore to workers under a 29 per cent profit bonus. He also said that the recently announced Diwali Bonus (Production Linked Reward Bonus) would be credited to workers’ accounts on November 1. He said the company was spending Rs 300 crore on the bonus and each worker would receive Rs 72,500 under the bonus.
Singareni will spend Rs 379.07 crore on the payment of the above two bonuses. Singareni, on the other hand, has announced Rs 25,000 per worker under the festival advance, which will be paid on the 8th of this month (October).
The above two types of bonuses, combined with the festival advance, are expected to receive an average of about one lakh 15 thousand rupees in the next three weeks, which the workers are asked to utilize without wasting, saving or using for household needs.
He also said that they should work more enthusiastically and together in the coming days to achieve the set goals so that they can receive better bonuses and welfare this year. On this occasion, the chairman of the company and M.D. Shri N. Sridhar wished the workers and their family members a happy Dussehra and Diwali.