New Delhi, Oct 7 (IANS): Ahead of the festive season, the union cabinet on Wednesday declared a productivity linked bonus for Indian Railways' employees to the tune of Rs.1,030.02 crore for the current year.
The bonus - equivalent to 78 days' wages - will be calculated according to the prescribed ceiling for the eligible non-gazetted railway employees at Rs. 3,500 per month.
The maximum amount payable per eligible railway employee is Rs.8,975 for 78 days.
In a statement, the government said the bonus has been declared considering the good financial performance of railways and is expected to motivate employees for working towards improving the same in future.
About 12.58 lakh non-gazetted railway employees are likely to benefit from the decision.
The highest such bonus amounting to 78 days wages was paid for the fiscal years 2010-11, 2011-12, 2012-13 and 2013-14.