BIC employees to get Rs80 cr in overdue salaries and retirement benefits
01 Jul 2023
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A total amount of Rs80.17 crore will be disbursed as overdue salaries and retirement benefits to former employees of defunct British India Corporation Ltd (BIC), a public sector undertaking under the ministry of textiles.
The disbursement of pending dues of employees at BIC is expected to begin from Saturday, 24 June 2023.
The disbursement will bring relief to the employees and their families enduring financial hardships since the cessation of production in 2009 at both units in Dhariwal and Lalimli Kanpur.
Union Budget 2023 had approved a disbursement towards the long-awaited resolution of these dues.
The amount allocated for salary and retirement dues for 1,101 employees across the BIC head office in Kanpur, CWM Branch (Lalimli) Kanpur, and NEWM Branch Dhariwal comes to Rs74.71 crore. An amount of Rs5.46 crore has been allocated for the employer's part of the EPF and ESI contributions.
The disbursement of the pending dues will bring immense relief to the employees and their families who have been enduring financial hardships since the cessation of production activity in 2009 at both units in Dhariwal and Lalimli Kanpur.
The much-needed relief will benefit the employees at BIC Head Office in Kanpur and its units at Cawnpore Woollen Mills (CWM) Branch (Lalimli) in Kanpur and New Egerton Woollen Mills (NEWM) Branch in Dhariwal, whose salary and retirement dues have been overdue since June 2019 and June 2017, respectively.
British India Corporation Ltd is a historic textile enterprise with roots dating back to 1876, headquartered in Kanpur, India. The corporation operates two woolen mills, one at the Cawnpore Woollen Mills (Lalimli) in Kanpur and the other at the New Egerton Woollen Mills in Dhariwal, Punjab.
