STOCK MARKET BSE NSE

MCL offers annuity for land oustees

Published: 25th March 2013 12:40 PM  |   Last Updated: 25th March 2013 12:40 PM   |  A+A-

In a decision which would benefit land owners in coal bearing areas under it, Mahanadi Coalfields Limited (MCL) has announced annuity of Rs 12,000 per month for land oustees eligible for employment as per Resettlement and Rehabilitation (R&R) policy.

Stating this in a Press release, spokesperson of MCL Dikken Mehra said as per new scheme, person eligible for employment in priority may can opt for annuity of Rs 12,000 per month till the age of 60 years in lieu of employment in the company.

In addition to this, the company has decided that the annuity amount will be increased by a fixed sum to cover inflation, Mehra added.

However, he clarified that eligible families in Category A and B of R&R policy, 1989 and 1998 and Category (i) and (ii) of R&R policy, 2006 of Government of Odisha, who are being considered for employment will only be entitled to avail the annuity scheme.

The persons eligible for employment including the dependant spouse of the deceased will have the option to avail the scheme.

They also have the option to avail one time cash compensation of  Rs 10 lakh in lieu of employment, said Mehra.

Further, in case of death of the person availing option of annuity before 60 years, the dependant person will be entitled to get 75 per cent of annuity.

This accounts for balance years of the person who has been initially extended annuity, Mehra added.

Stay up to date on all the latest Odisha news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp