New Delhi: An indefinite fast being observed by a federation of NTPC executives against performance-based pay entered the third day on Saturday.
"The executives, sitting on fast at NTPC headquarters here since October 17, are opposing a performance-linked payment system, saying the mechanism deprives 10 percent of executives of such compensation," the NTPC Executives' Federation of India (NEFI) said in a statement. NEFI represents more than 11,000 officers of the company.
The federation observed a "flash day-long dharna" in the administrative buildings of all units on October 8.
"We are on indefinite fast and today Badarpur officials have extended their support by refusing to take lunch. We are opposed to anti-executive policies of the management," Rakesh Pandey, chairman of NEFI, said in a statement.
He added that executives from various units support the federation in its protest against the management's unilateral declaration of performance-related pay based on a relative ranking that would exclude 10 percent of the executives.
NEFI said variable pay should be linked with absolute performance and must be set before the financial year starts. Executives need to be aware of the levels of performance and related variable pay they will receive, they added.
The company declined to comment.
The federation had served notice to the management, seeking variable pay based on absolute performance and not on relative ranking.
Its other demands include a pay revision with effect from January 2007 and enhancement of compensation for working at night.
First Published: Saturday, October 19, 2013, 21:10