PSU NEWS
A big bang bonus for PSU employees on Diwali
There will be an additional benefit for the permanent employees of Rs 8,400.
New Delhi: This will be a big bang Diwali for all the Public Sector Undertaking (PSUs) workers/employees from the government of India. On October 21st 2020, the Union Cabinet cleared Rs 3737-crore bonus for 30.6 lakh central government employees. This Diwali gift will benefit non-gazetted employees including those in autonomous central government organisations, Union Minister of Information & Broadcasting Prakash Javadekar said.
The government of Tamil Nadu also showed this gesture by giving the gift to the government employees by giving a Diwali bonus of Rs 210.48 crore for 2.91 lakh PSU employees. In this pandemic phase, various PSU companies have faced a tough time and the growth of certain companies also stick to one point, by seeing which the central government decided to give relief to them.
2.91 lakh employees of the state government will be benefited from this Diwali bonza. There will be an additional benefit for the permanent employees of Rs 8,400. The state government has said in a statement that "8.33 percent bonus and additional 1.67 percent will be paid to the workers and employees working in all the profit/loss public sector undertakings of Group ‘C’ and ‘D’ category."
This Diwali there will be more happiness among the PSU employees. The recent press release issued by the government states that "the hard work of the employees plays an important role in accelerating the economic growth of the country. It is his hard work that the country is moving towards excellent economic development."
"The lockdown caused by COVID-19 has affected the functioning of all business entities, including state PSUs and statutory boards, it added."
In Tamil Nadu from the past six years, the income of many other companies declined due to the lack of public transport and factories and the companies also includes Tamil Nadu Transport Corporation, Power Generation and Tea Plantation Corporation, Distribution Corporation. The government mentioned that every employee will receive full pay amid the epidemic.
On the Other hand UP government also ensures to give nearly 15 lakh UP govt employees a one-month bonus. 30 days bonus will be considered as the Diwali gift from the state government. As mentioned the maximum allotted bonus would be Rs 6,908 per employee, in which 25 percent of the bonus will be given in cash, 75 percent will be added to the Provident Fund (PF). Those who do not have a PF account will be given a national security certificate for the same amount.
Finance Minister Smt. Nirmala Sitharaman also announced a one-time interest-free festival advance of Rs 10,000 each that the government claimed would help generate demand worth Rs 8,000.
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