The disbursement of pending dues of employees at British India Corporation Ltd. (BIC), a Public Sector Undertaking under the Ministry of Textiles, is expected to begin from tomorrow i.e. June 24, 2023. The total amount to be disbursed for overdue salaries and retirement benefits to BIC employees comes up to INR 80.17 crore. The 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 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 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. Despite enduring challenges in recent years, BIC remains committed to its employees and continues to explore avenues for business revitalization.