The pension scheme was envisaged several years ago, but was implemented only recently mainly due to delay in clearances from the government. As part of the scheme, Coal India management will contribute 9.84% of basic pay and dearness allowance minus central government’s contribution towards coal mines pension scheme.
How much pension do Coal India employees get?
“Whereas even the lowest-level employees of both the PSUs — CIL and SCCL — retiring today get more than Rs 10,000 per month as pension due to increase in salary in 2007 and 2017 pay revision for executives and different NCWA (National Coal Wage Agreement) over the last 20 years,” the statement said.
Does India have a pension system?
The National Pension System (NPS) is a voluntary defined contribution pension system in India. … The contribution under Tier-II of NPS is covered under Section 80C for deduction up to Rs. 1.50 lakh for income tax benefits, provided there is a lock-in period of three years.
What is other income of Coal India?
Profit & Loss – Coal India Ltd. Rs (in Crores)Mar’20Mar’17Other Income11566.330015004.7500TOTAL INCOME12411.4915294.63EXPENDITURE:Manufacturing Expenses83.1597.20Ещё 31 строка
Is Coal India a government company?
Coal India Ltd (CIL) is a ‘Maharatna’ Public Sector Undertaking under Ministry of Coal Government of India with headquarters at Kolkata West Bengal. CIL is the single largest coal producing company in the world and one of the largest corporate employers.
Who is the owner of Coal India?
Government of India70.96%
How long coal will last in India?
There will be no restriction on the sale and utilization of coal from these mines. India’s coal requirement is expected to go up to 1,123 million tonnes (mt) by 2023 from the present levels of around 700 mt. The earlier plan was to mine 1.5 billion tonnes of coal by 2020.
Who is eligible for pension in India?
Individuals are eligible to receive pension once they have completed 10 years of service. However, individuals must attain the age of 50 years or 58 years to withdraw the pension amount. In case individuals withdraw the pension amount when they attain the age of 50 years, they will receive a lesser EPS amount.
What is the age for pension in India?
Can I get 2 pensions in India?
Yes, a person can be eligible for two or more pensions. … One had a pension from a government position in another state so was starting all over again in a new state after moving. Sadly, he was terminated before earning the second pension due to certain actions.
What Is the Future of Coal India?
Coal use is anticipated to increase 3.8 per cent in 2021. In the medium term (to 2025), India has one of the highest potentials to increase coal consumption as electricity demand rises and more steel and cement are required for infrastructure projects, as per the International Energy Agency said.
Is Coal India a good buy?
Coal India has net cash of Rs 23,000 crore putting it in a comfortable position. … The brokerage firm has a ‘Buy’ call on the stock with a fair value of Rs 195. On the other hand Motilal Oswal has a target price of Rs 190 apiece.
How can I join Coal India?
The Eligible candidates can apply online through www.coalindia.in from 21 December to 19 January 2020. Application Fee: GENERAL (UR) / OBC (Creamy Layer & Non-Creamy Layer) / EWS category – 1000/- SC / ST / PwD candidates / Employees of Coal India Limited and its Subsidiaries – No Fee.