Coal India Limited has approved a notional upgrade to the pay scale of its executives (up to mid-level), effective from January 1, 2017. The financial effect, payable from August 23, 2023, is estimated to impact the company by approximately ₹3400 Crores for the period ending December 31, 2026.
Executive Pay Revision
Coal India Limited has announced the upgradation of the pay scales for its executives up to the mid-management level. This revision comes with a significant financial implication for the company, detailed in a recent disclosure.
Financial Implications
The executive pay scale revision is effective from January 1, 2017; however, the financial effect of the revision is payable from August 23, 2023. The total estimated financial impact of this upgradation for the period up to December 31, 2026, amounts to approximately ₹3400 Crores. This expenditure will be factored into the company’s financial planning and reporting for the specified period.
Source: BSE
