Air India relaxes PL norm for staff approaching retirement: Report
1 min read 26 May 2023, 08:09 PM ISTEarlier in March, the the Tata Group-owned carrier had revised its policy related to privilege leaves for both permanent and full-term contract staff to align the policy with prevailing market conditions.
PremiumPrivate aviator Air India on 26 May relaxed the new norm related to the accumulation of privilege leaves for those employees retiring in the current and next financial years.
Earlier in March, the the Tata Group-owned carrier had revised its policy related to privilege leaves for both permanent and full-term contract staff to align the policy with prevailing market conditions.
According to that, the Privilege Leaves (PLs) accumulation limit for all employees from 1 April is 60 days in a particular financial year.
The airline has made a relaxation for staff approaching retirement against this backdrop.
Air India CEO and Managing Director Campbell Wilson in his message to the staff on Friday mentioned the airline deciding in March that all PLs beyond 60 days would be encashed.
"Subsequently, many of you approaching retirement asked whether this could be deferred until your superannuation," he said
"Our HR team followed up with the external tax authorities and happily were able to reach an agreement that, for those superannuating in the next two financial years i.e., FY 2023-24 and 2024-25, we are now able to meet the request. I'm sorry we were not able to secure the ability to do so for those retiring later, but we tried," he added.
The move will help the employees approaching superannuation in terms of retirement benefits. Apart from this, there is an exemption of tax for encashment of leaves for up to ₹25 lakh during retirement and that benefit can be availed with the relaxation.
Meanwhile, the airline is working on the five-year transformation plan 'Vihaan.AI'.
"From now through June, I and other colleagues from the management and the various Vihaan project teams will be travelling to cities around the country to meet more of you face to face," Wilson said.
"We'll be sharing detail on what is being worked on, seeking your thoughts, suggestions and help to take our mission forward, and providing updates on what is happening in the company more generally. These will help ensure we all share the same direction, purpose and energy," Wilson added.
With agency inputs.
