The government on October 31, 2021 announced a Diwali bonus of Rs 28,000 for all the employees of Manganese Ore India Ltd (MOIL). Employees of the state-owned firm have also received wage revision on the same day.
This will have a financial impact of about Rs 87 crore per annum on the company. Minister for Road Transport and Highways Nitin Gadkari and Steel Minister Ram Chandra Prasad Singh made the announcement at an event organised by MOIL in Nagpur.
The statement also pointed out that the wage revision is for a duration of 10 years. The effective date has been calculated from August 1, 2017, up to July 31, 2027. The move will benefit a total of 5,800 company employees.
As per the Ministry, MOIL announced that it will be making the arrear payment in one go, which will have a financial impact of around Rs 218 crore for the period from August 1, 2017, to September 30, 2021.
MOIL CMD M P Chaudhary said that the production linked bonus for all employees for the year 2020-21 will be paid before Deepawali. Meanwhile, the steel minister also inaugurated various MOIL facilities such as the second vertical shaft at Chikla mine, and hospitals at its five mine locations, during his visit.
