Financial Daily from THE HINDU group of publications
Monday, Jul 11, 2005
Financial Daily from THE HINDU group of publications Monday, Jul 11, 2005 |
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Agri-Biz & Commodities
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Plantations Nilgiri planters sign 3-year wage pact with unions Our Bureau
Coimbatore , July 10 THE Nilgiri Planters' Association (NPA) and the trade unions have signed a three-year wage agreement, up to December 2007. The settlement is expected to benefit over 20,000 permanent workers and the total outgo for the industry is estimated at Rs 4 crore per annum. Referring to the latest settlement as an `amicable' accord reached at a time when the industry was in the midst of a severe financial crisis, Mr Pinto said the association decided a marginal upward revision to encourage wo The settlement would see the wages rise from Rs 74 per day to Rs 77 from January 1, 2005, and by another rupee to Rs 78 from April 2005. The fixed quarterly dearness allowance has been raised from 0.25 paise per day to 0.30 paise, which would increase at this rate every quarter up to December 2007. He added that there would also be an increase in service weightage benefiting the senior workers.
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