Hyderabad: In a momentous move, Singareni Collieries Company Limited (SCCL) Chief Managing Director N Sridhar has approved the release of the 11th wage arrears for SCCL employees spanning 23 months.
This approach is likely to release a stunning Rs 1,726 crore in arrears, with each employee receiving an average of Rs 4 lakh. This long-awaited decision will benefit an amazing 40,000 SCCL employees. Officials have pledged that the funds will be placed into the workers’ bank accounts within a month.
The calculation of wage arrears has already begun, with a multi-departmental effort underway. HR, accounts, audits, ERP, SAP, IT, and other departments are all involved in this entire process.
Mr. N Balaram, Director (Finance & Personnel) of SCCL, urged personnel to begin the process by meticulously auditing the employees’ unpaid salaries. Following the existing employees, the retiring workers will collect their arrears.
This big financial gain for SCCL employees is a good move that is expected to considerably assist the workforce by addressing long-standing worries about wage arrears.
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