The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved a productivity-linked bonus (PLB) amounting to Rs 2,090.96 crore to more than 12.25 lakh non-gazetted railway employees.
The Indian Railways will pay out the PLB for 78 days' wages with a calculation ceiling of Rs 7,000 per month. This is the fifth consecutive year when the PLB is being paid for 78 days' wages.
PLB is traditionally paid before Dussehra. Eligible employees would be entitled to more than Rs 18,000 under the approved 78 days' wage PLB for 2015-16.
Last year, PLB was paid to nearly 12.58 lakh employees with wage calculation ceiling of Rs 3,500 per month which amounted to a total pay out of Rs 1,030.02 crore.
"Cabinet has given its approval to pay PLB equivalent to 78 days' wages to eligible non-gazetted railway employees for the financial year 2015-16," the Union Cabinet said in a statement.
According to the Union Cabinet, RPF (Railway Protection Force) and RPSF (Railway Protection Special Force) personnel will be excluded from the pay out of PLB.
"The approval entails a financial implication of approximately Rs 2,090.96 crore," the statement said.
"Payment of PLB would result in motivating a large number of railway employees to improve the performance of the railways and enhance the productivity levels further besides maintaining industrial peace."
Commenting on the Union Cabinet's decision, the All India Railwaymen's Federation (AIRF) said: "Dear Comrades, hearty congratulations! Union Cabinet has today approved 78-day PLB to Railwaymen for the year 2015-16 at the enhanced ceiling of Rs.7,000 p.m. This is another great achievement of AIRF."
Railway's PLB scheme that came into effect from 1979-80 was evolved in consultation with the two recognised federations -- the AIRF and National Federation of Indian Railwaymen. The scheme envisages a review every three years.
(With inputs from IANS)
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