New Delhi, Oct 3 (IANS) The union cabinet Thursday approved payment of productivity linked bonus (PLB) equivalent to 78 days wages for 2012-13 for 12.37 lakh eligible non-gazetted railway employees, said a statement.
The financial implication of the move is estimated to be Rs.1,043.43 crore.
According to the statement, PLB equivalent to 78 days wages will be paid as a special case considering the good financial performance which is expected to motivate employees.
The Gross Traffic Receipt (GTR) during 2012-13 is Rs.1.24 lakh crore showing an increase of 18.85 percent against GTR of Rs.1.04 crore during 2011-12.
The wage calculation ceiling prescribed for payment of PLB to eligible railway employees is Rs. 3,500 per month.