Coal India has announced that it will pay the outstanding dues of its terminated employees by March 31. In a letter to the CEOs of all associate companies, Deepak Iyer, Vice President of Coca-Cola India, stated that the salaries of inactive employees were revised in July 2021. However, many non-working employees have not received their NPS-11 dues, which will be paid by March 31.
As soon as the letter was received, teams from BCG, EY, and KPMG, which are part of the human resources department, have started preparing for the payout. The number of such employees is around 18,000.
Payment of revised salaries of terminated employees will also be made soon.
Furthermore, legal and general employees have been transferred in various companies of Coal India , but their payment has not been made yet. It has been announced that their payment will be made soon.
Similarly, there are such cases in BCG as well. The Chief Financial Officer, Vittorio Ardino, and the Human Resources Director, Murli Krishna Ramayya, are looking into this matter. They have stated that if the deadline is not met, appropriate action will be taken against the concerned authority.
This move by Coal India comes after facing backlash for terminating several employees without paying their dues. The company has assured that all outstanding dues will be cleared by the end of March 2023.
Coal India’s decision to pay the dues of its terminated employees by March 31 is a positive step towards addressing the concerns of its former employees. The company’s commitment to paying the revised salaries and legal and general employees’ dues soon is commendable. It is essential for companies to prioritize their employees’ welfare, especially during times of uncertainty.
Here are some actionable steps that companies can take to avoid such situations in the future:
- Clear communication: Companies should maintain clear communication with their employees regarding their employment status, salary revisions, and dues.
- Timely payments: Companies should ensure that all payments, including salaries, bonuses, and dues, are made on time.
- Compliance with labor laws: Companies should comply with labor laws and regulations, including those related to layoffs and terminations.
- Transparent policies: Companies should have transparent policies regarding employment, compensation, and benefits.
- Employee welfare: Companies should prioritize their employees’ welfare, especially during times of uncertainty.
By following these steps, companies can build trust and loyalty among their employees, leading to a positive work culture and a motivated workforce.
