Coal India Concludes Wage Settlement; agrees on 25% Allowance Hike
Post the agreement implementation, approximately 2.81 lakh non-executive employees of CIL and SCCL, who were employed by the company as of July 1, 2021, will be the recipients of the benefits
Coal India Concludes Wage Settlement; agrees on 25% Allowance Hike
The state-owned corporation Coal India (CIL) declared on May 22, 2023 that it has successfully struck a salary revision deal with its 238,000 non-executive employees.
From July 1, 2021, the agreement ensures a minimum benefit of 19% on a variety of payscales, including base pay, variable dearness allowance, special duty allowance (SDA), and attendance bonus. Additionally, there will be a 25% rise in allowances. Coal India revealed this information in a filing with the stock exchanges.
The Joint Bipartite Committee for the Coal Industry (JBCCI)-XI has recommended and approved the National Coal Wage Agreement (NCWA)-XI.
Members of the committee include the management of Coal India, the Singareni Collieries Company (SCCL), and the BMS, HMS, AITUC, CITU, and Indian National Mine Workers’ Federation (INMF) five key trade unions. Beginning on July 1, 2021, the agreement will be in force for a period of five years.
The enhanced pay will become effective with the adoption of this agreement for approximately 281,000 Coal India and SCCL employees who were working as of July 1, 2021. For a period of 21 months, from July 1, 2021, to March 31, 2023, Coal India has set aside a provision of Rs 9,252.24 crore to cover the pay modifications.
The final effects of the permitted increase of 25% will be announced soon, but they are not anticipated to be particularly substantial. The pay of Coal India’s non-executive employees, who make up 94 percent of the workforce, are revised every five years, it is important to note.
- PwC Plans to Track Employees’ Working Locations in Hybrid Crackdown – will this be the best way? - September 11, 2024
- Two in five employees do not think their manager is trained enough, survey finds - September 11, 2024
- Mandatory 180 Days ‘Maternity Leave Benefits to Every Women in Private and Unorganized sector : Rajasthan High Court - September 9, 2024
