New Delhi, Sep 17 (ANI): The Union Cabinet today approved the proposal of the Ministry of Railways for payment of Productivity Linked Bonus (PLB) equivalent to 75 days’ wages for all eligible non-gazetted Railway employees.
The move will benefit 13.05 lakh employees and it will cost the xchequer Rs 889 crore
The salient features of the PLB scheme evolved as a result of review of the scheme and approval of the cabinet on September 23, 2000.
Railways were the first departmental undertaking of the Government of India wherein the concept of PLB was introduced. The main consideration at that time was the important role of the Railways as an infrastructural support in the performance of the economy as a whole.
In the overall context of Railway working, it was considered desirable to introduce the concept of PLB as against the concept of Bonus on the lines of ‘The Payment of Bonus Act – 1965′.
The PLB scheme for the Railways came into force from the year 1979-80 onwards and was evolved in consultation with the two recognised federations viz. All India Railwaymen’s Federation and National Federation of Indian Railwaymen and with the approval of the Cabinet. The scheme envisages a review every three years. (ANI)