The disbursement of the outstanding employee dues of British India Corporation Ltd. (BIC), a public sector company under the Ministry of Textiles, is expected to start tomorrow, i.e. 24 June 2023. The total amount to be paid for the overdue salaries and retirement benefits for BIC employees go up to INR 80.17 crore. The 2023 Union Budget had approved a disbursement for the long-awaited resolution of these quotas.
The amount allocated for salary and pension dues for 1,101 employees in BIC Head Office at Kanpur, CWM Branch (Lalimli) Kanpur and NEWM Branch Dhariwal is INR 74.71 crore. An amount of INR 5.46 crore has been allocated for the employer’s part of the EPF and ESI contributions.
The disbursement of the outstanding dues will bring immense relief to the employees and their families who have been enduring financial hardships since the cessation of manufacturing operations in 2009 at both the Dhariwal and Lalimli Kanpur units.
The much-needed relief will benefit employees at BIC’s headquarters in Kanpur and its units at its Cawnpore Woolen Mills (CWM) branch (Lalimli) in Kanpur and its New Egerton Woolen Mills (NEWM) branch in Dhariwal, whose salary and pension payments have been expired since June 2019 and June 2017 respectively.
British India Corporation Ltd. is a historic textile enterprise with roots dating back to 1876, based in Kanpur, India. The company operates two woolen mills, one at Cawnpore Woolen Mills (Lalimli) in Kanpur and the other at New Egerton Woolen Mills in Dhariwal, Punjab. Despite the enduring challenges of recent years, BIC remains committed to its employees and continues to explore avenues for corporate revitalization.