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Business Economy

Telangana : Singareni to pay wage board arrears of Rs 1,726 cr to workers within month

Hyderabad, Sep 1 (UNI) State-owned Singareni Collieries Company Limited (SCCL) will pay the wage board arrears of 23 months to its workers within a month.
The company will make the payment, amounting to about Rs 1726 crores.
Director (Finance, Personnel) N. Balaram took up the Mummara arrangements in the context of the order of the Chairman and Managing Director N. Sridhar to pay the arrears of the 11th wage board of 23 months due to Singareni workers as soon as possible.
According to the preliminary estimate, Rs.1726 crores will be paid as arrears and an average worker will receive arrears of approximately Rs.4 lakhs, Balaram said in a statement here.
He said that for the first time in the history of Singareni, a large amount of salary arrears will be deposited in the accounts of the workers in two installments within a period of one month.
The arrears calculation process has been started from Friday with the coordination of the personnel department, accounts, auditing, ERP, SAP, IT and other departments, he said.
The 11th Wage Board was implemented in Singareni before the payment of wages, and to this extent, the company is incurring an additional cost of Rs.1200 crores per year, in addition to which the current arrears of Rs.1726 crores will be added to the total payments of Rs.3000 crores.
Balaram said that these dues are being paid to the currently employed workers and it will be paid to the retired workers soon.
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