Coal India Announces Pay Scale Upgrade for Mid-Level Executives
State-owned Coal India Ltd. has officially upgraded the pay scales for its executives up to the mid-management level. According to a recent regulatory filing, the change is backdated to January 1, 2017, on a notional basis.
Effective Dates and Financial Impact
While the pay grade change is linked to 2017, the company clarified that actual cash payments will be made moving forward. The revised salaries are payable starting from August 23, 2023.
Coal India estimates that the total cost of this pay revision will be approximately Rs 3,400 crore. This figure covers the financial impact through December 31, 2026.
About Coal India
As the world’s largest coal producer, Coal India plays a vital role in the energy sector. The company manages extensive operations through several subsidiaries located across India’s coal-rich states.
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