The union cabinet has recently approved modification of the existing Productivity Linked Reward (PLR) scheme for the major ports and dock labour board employees/workers from FY 2020-21 to FY 2025-26.
The weightage for calculation of PLR has been increased to port-specific performance instead of weightage to all India performance. PLR has been calculated on the wage ceiling for the calculation of bonus at Rs 7,000 per month, and it shall be paid annually by enhancing the port-specific performance weightage from 50 per cent to 55 per cent and further increasing to 60 per cent.
The all-India port performance weightage will also decrease to 40 per cent over the period till FY 2025-26. This is replacing the existing equal weightage of 50 per cent for the all-India port performance and the specific port performance.
With a total financial implication of about Rs 2 billion for the entire period, the modified PLR scheme will benefit about 20,704 employees of major port authorities and dock labour board employees/workers.
It is expected that the proposed modification will bring about the efficiency factor along with competition among the major ports. The scheme will also foster better industrial relationships and congenial work atmosphere in the port sector, apart from stimulating better productivity.