HomeBUISNESS NEWSAdditional gratuity limit on death of THESE employees increased to Rs 7.05L...

Additional gratuity limit on death of THESE employees increased to Rs 7.05L from Rs 6.15L–Check details | Personal Finance News

Mumbai/New Delhi: The Maharashtra State Road Transport Corporation has given approval for increasing the dearness allowance of MSRTC employees and officials to 34 per cent from the present 24 per cent, apart from the salary revision proposal of its officers for a six year period from 2016-17 to 2021-22.

A release from the office of Chief Minister Eknath Shinde, who is chairman of MSRTC, also said that the limit of additional gratuity to the heirs of employees who died while in service has been increased to Rs 7.05 lakh from Rs 6.15 lakh under the additional gratuity and employee deposit linked insurance scheme.

MSRTC is one of the biggest state-owned public transport undertakings in the country with a fleet of over 16,000 buses. The loss-making corporation was ferrying over 65 lakh passengers daily before the outbreak of the COVID-19 pandemic.

Furthermore, MSRTC will hire 5,150 electric buses, buy 2,000 diesel buses and convert 5,000 vehicles from diesel to LNG, the decisions being taken in the state-run undertaking’s directors’ board meeting on Friday. A release said he had approved in principle a plan to take a loan from the Asian Development Bank for electric buses.


With PTI Inputs


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