The Board of Control for Cricket in India formally approved the implementation of the contract system and graded payments for its international cricketers and enhancement of fees for domestic first class and junior players.

"The graded payment and contract system was today approved in principle by the Board. An agreement with the players has been reached on major terms and conditions, but some fine-tuning is required," Board president Jagmohan Dalmiya announced in Kolkata on Saturday.

Dalmiya, emerging from the Board meeting on the first day of the BCCI AGM, said the general body authorised him and the other office-bearers to work out the amount to be paid to players and other details.

While the details of the graded payment system for international cricketers are yet to be finalised, the Board has decided payment of 13 per cent of its total earnings to domestic first class cricketers and junior players, he said.

"Out of this, 10.6 per cent will go to first class cricketers and 2.4 per cent will be paid to juniors," he added.

For junior cricketers, part of the amount would be paid in the form of token pocket money and the rest would be deposited as fixed deposit in banks, which the players would be entitled to on completion of 21 years of age, he said.

In the case of first class cricketers also, part of the money would be handed over during their playing career while the rest would be kept in fixed deposits "so that they retire with a handsome amount of about Rs 25-30 lakh", the BCCI president said.

"How much a first class cricketer will get on his retirement will depend on how long he played in that level without interruption," Dalmiya said.

He said the Board was yet to decide on how much of the total payment, both for first class cricketers and junior players, would be given during their playing career and how much was to be saved in fixed deposit.

The Board, however, had earlier proposed to pay each member of playing eleven in first class matches Rs 12,000 per match and Rs 6,000 to each non-playing member (limited to 3).

The balance of the total amount, yet to be decided, would go into the annuity scheme at the same ratio for playing and non-playing members.

While Dalmiya did not elaborate on the plans for international cricketers, it was earlier announced that those doing national duty would get another 13 per cent of the gross earning of the Board.

Thus, a total 26 per cent of the Indian Cricket Revenue of the Board would be allocated to players through creation of a Players' Payment Pool (PPP).

In case of international cricketers, the proposal envisaged dividing the players into three grades according to their experience and giving them a fixed annual payment of Rs 60 lakh, Rs 30 lakh and Rs 15 lakh apart from match fee on the basis of number of matches in a year.

While the number of players to be contracted each year would be 20, provision would be kept for 25 players as any non-contracted player who plays three Tests and 10 one-day internationals during a particular year would also be offered contract in the lowest grade and be paid a retainership.