Revised pay matrix for CPSEs soon; employees could face salary cut
Failure in meeting the revised performance-related pay criteria will not only mean rating downgrades for the CPSEs but also cut in the variable pay of its employees
BusinessToday.In | February 22, 2021 | Updated 17:53 IST
With revised matrix for PRP, government aims to include these criteria in customary MoUs being signed between PSUs and administrative ministries in current fiscal year itself
The central public sector enterprises (CPSEs) employees may face a steep reduction in performance-related pay (PRP) if a public sector company fails to meet certain targets like m-cap, return on capital, asset-turnover ratio and Capex and production targets.