In a major development, tripartite settlement for wage revision of Manganese Ore India Ltd workers was signed between management of MOIL and the representatives of the recognized union, in presence of Chief Labour Commissioner, Government of India. This wage revision is for 10 years’ duration w.e.f 01.08.2017 up to 31.07.2027, benefitting close to 6,000 company employees. It is based on an MOU arrived at between management and recognized union MOIL KamgarSanghatan. The proposal includes fitment benefit of 20% and perks & allowances at the rate of 20%. An Interim relief at 12% of Basic and DA was given by the company w.e.f May, 2019.The company will be making the arrears payment in one go, which will have a financial impact of Rs.218 crores approximately for the period it is due i.e. from 1st August, 2017 to 30th September, 2021. The total financial impact of the proposed wage revision will be about INR 87 crores per annum.The agreement also specifies that the settlement will be implemented within 60 days of signing of the same.
In a major development, tripartite settlement for wage revision of Manganese Ore India Ltd workers was signed between management of MOIL and the representatives of the recognized union, in presence of Chief Labour Commissioner, Government of India. This wage revision is for 10 years’ duration w.e.f 01.08.2017 up to 31.07.2027, benefitting close to 6,000 company employees. It is based on an MOU arrived at between management and recognized union MOIL KamgarSanghatan. The proposal includes fitment benefit of 20% and perks & allowances at the rate of 20%. An Interim relief at 12% of Basic and DA was given by the company w.e.f May, 2019.The company will be making the arrears payment in one go, which will have a financial impact of Rs.218 crores approximately for the period it is due i.e. from 1st August, 2017 to 30th September, 2021. The total financial impact of the proposed wage revision will be about INR 87 crores per annum.The agreement also specifies that the settlement will be implemented within 60 days of signing of the same.
