(TH)
A deal between Khadi and Village Industries Commission (KVIC) and ONGC has brought cheers to Khadi institutions in Gujarat which have seen never-before sales of over ₹14 crore in just two months. ONGC usually distributes bonuses and gifts to its employees in the form of cash, recognising their services and rewarding their work. In January 2017, however, ONGC reached an agreement with KVIC and rewarded its staff in kind.
VK Saxena, Chairman, KVIC, said here on Monday that following the deal, ONGC rewarded its employees in kind, at a value higher than the cash value of bonus or gift.Accordingly, ONGC provided Khadi vouchers worth ₹10,000 each to its regular employees and ₹5,000 each to its non-regular workers.
Incentive on vouchers
KVIC allowed an additional 35 per cent incentive on these vouchers, thus enhancing the value of ONGC bonus to 135 per cent of its cash value for its staff. These Khadi vouchers can be used by ONGC staff over a period of 2 months. KVIC will get ₹35 crore from ONGC due to this initiative. The total sale of KVIC products will be more than ₹50 crore, including ₹10 crore as wages.
