Last Update: May 22, 2023, 18:21 IST
Around 2.81 lakh employees of CIL and SCCL, who were on the rolls of the company as on July 1, 2021, will be the beneficiaries after the implementation of the agreement.
Under the agreement, 19 percent minimum guaranteed benefits on emoluments and 25 percent increase in allowances have been given from July 1, 2021.
State-owned Coal India Limited (CIL) on Monday said it has reached an agreement with its 2.38 lakh strong non-executive employees over revision of wages. Under the agreement, a 19 per cent minimum guaranteed profit, on perquisites (basic, VDA, SDA and attendance bonus) and a 25 per cent increase in allowances has been given from July 1, 2021, Coal India said in a filing to the exchanges.
“The Joint Bipartisan Committee for Coal Industry (JBCCI)-XI consists of representatives from CIL Management, Singareni Collieries Company Limited (SCCL), five Central Trade Unions i.e. BMS, HMS, AITUC, CITU and Indian National Mine Workers Federation (INMF) . ) National Coal Wage Agreement (NCWA)-XI was recommended and signed on May 20, 2023 for a period of five years from 01.07.2021,” the miner said.
Around 2.81 lakh employees of CIL and SCCL, who were on the rolls of the company as on July 1, 2021, will be the beneficiaries after the implementation of the agreement.
Further, CIL has made a provision of Rs 9,252.24 crore for this purpose for a period of 21 months from July 1, 2021 to March 31, 2023.
The final impact of the 25 per cent increase in allowances will be informed shortly, which is not likely to be much.
The salaries of non-executive employees, who constitute 94 per cent of Coal India’s workforce, are revised every five years.
On Monday, Coal India shares closed at Rs 238.35, down 0.60 per cent, on the BSE.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI,