11.27 Lakh Indian Railways Employees Will Get 78-Days Salary As Diwali Bonus!
Indian Railways employees will receive their bonus for 2022 before the Dussehra holidays begin.
The Prime Minister Narendra Modi-led Union Cabinet had on 1 October, approved a bonus -equivalent of 78 days of wages for the Railway employees.
The Productivity Linked Bonus (PLB) equivalent to 78 days of wages will be paid to non-gazetted railway employees, excluding RPF/RPSF personnel, for the financial year 2021-22.
About 11.27 lakh non-gazetted Railway employees are likely to benefit.
Payment prior to festivities
Railway Minister Ashwini Vaishnav said that where wages exceed ?7000 for the employees, the bonus would be calculated at ?7000 per month.
The bonuses will be paid before Dussehra holidays begin.
“The President is pleased to sanction Productivity Linked Bonus (PLB) equivalent to 78 (Seventy Eight) days wages without any ceiling on wages for eligibility for the financial year 2021-22 to all eligible non-gazetted Railway employees (excluding all RPF/RPSF personnel).
Where, wages exceed 7000/- per month, Productivity Linked Bonus will be calculated as if the ‘wages’ are 7000/- p.m.” the circular read.
Importance and role of railway employees
The circular further mentioned that the employees have been instrumental to the growth of the sector since they have ensured uninterrupted movement of essential commodities like food, fertilizer, coal and other items even during the lockdown period.
They have played an important role in the performance of Passenger and Goods services which also acted as catalysts for the economy.
Railways has ensured there is no shortage of such commodities in the area of operations, said the Ministry statement.
In the past three years the Railways has undertaken steps to regain market share in freight and increase realization in passenger fares through suitable policy initiatives.
As a result, in the current year (2022-23), Railways has regained momentum in receipts, disrupted previously due to the pandemic.
How PLB will help
The payment of PLB would serve as an incentive and motivation for a large number of Railways employees, particularly those involved in the execution and operations of railways, to improve their productivity and ensure safety, speed and service for Railway customers.
The payment will also boost the demand in the economy in the upcoming festival season.
The financial implication of payment of 78 days’ PLB has been estimated to be ?1,832.09 crore.
The maximum amount payable per eligible railway employee is ?17,951 for 78 days.