Coal India Limited (CIL) the Maharatna public sector coal mining giant, on 31 January 2012, finalized the wage agreement for its 3.63 Lakh strong non-executive work force by giving a 25% increase on gross wages as of 30 June 2011. The wage hike that would be effective retrospectively from 1 July 2011 is for a five-year period.
The National Coal Wage Agreement (NCWA) IX was inked in New Delhi between the Central trade unions representing the coal workers and the Management of the coal sector behemoth, CIL, in the Joint Bi-partite Committee for Coal Industry (JBCCI) set up for the purpose. The trade unions are AITUC, INTUC, HMS and CITU.
The minimum basic in NCWA IX now will be Rs. 15,712 per month, an increase of 88% from Rs. 8,360 of NCWA VIII. The minimum guaranteed benefit in the new wages would be 25% of total emoluments as on 30 June 2011, (Basic + DA + SDA + Attendance Bonus) when NCWA VIII came to an end. The other important highlights of the agreement are a special allowance of 4% of revised basic; HRA of 2% of the Basic pay for those who have not been provided with residential accommodation in other than urban area; post retirement medicare scheme for retired non-executives and their spouses to be finalized within 3 months. The annual increment has been fixed at 3% of the basic. All the other fixed monetary allowances are increased by 88%. The financial outflow on account of wage revision will be approximately Rs.6,500 Crores per annum.
With the conclusion of the wage negotiation, Coal India for the second time becomes the first Central Public Sector Undertaking in the country to successfully finalize the wage pact. The NCWA IX was concluded in a record time of only 6 months since the formation of JBCCI in August 2011. Never in the history of CIL was a wage agreement concluded so swiftly. It may be recalled that CIL was the first Central PSU in the country to conclude the wage deal with its employees in January 2009, for NCWA VIII, where a minimum guaranteed benefit of 24% of total emoluments as of 30 June 2006 was agreed. And, that took 13 months for wrapping up.
Source : Coal India
The National Coal Wage Agreement (NCWA) IX was inked in New Delhi between the Central trade unions representing the coal workers and the Management of the coal sector behemoth, CIL, in the Joint Bi-partite Committee for Coal Industry (JBCCI) set up for the purpose. The trade unions are AITUC, INTUC, HMS and CITU.
The minimum basic in NCWA IX now will be Rs. 15,712 per month, an increase of 88% from Rs. 8,360 of NCWA VIII. The minimum guaranteed benefit in the new wages would be 25% of total emoluments as on 30 June 2011, (Basic + DA + SDA + Attendance Bonus) when NCWA VIII came to an end. The other important highlights of the agreement are a special allowance of 4% of revised basic; HRA of 2% of the Basic pay for those who have not been provided with residential accommodation in other than urban area; post retirement medicare scheme for retired non-executives and their spouses to be finalized within 3 months. The annual increment has been fixed at 3% of the basic. All the other fixed monetary allowances are increased by 88%. The financial outflow on account of wage revision will be approximately Rs.6,500 Crores per annum.
With the conclusion of the wage negotiation, Coal India for the second time becomes the first Central Public Sector Undertaking in the country to successfully finalize the wage pact. The NCWA IX was concluded in a record time of only 6 months since the formation of JBCCI in August 2011. Never in the history of CIL was a wage agreement concluded so swiftly. It may be recalled that CIL was the first Central PSU in the country to conclude the wage deal with its employees in January 2009, for NCWA VIII, where a minimum guaranteed benefit of 24% of total emoluments as of 30 June 2006 was agreed. And, that took 13 months for wrapping up.
Source : Coal India
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