Financial Daily from THE HINDU group of publications
Tuesday, Sep 20, 2005
Financial Daily from THE HINDU group of publications Tuesday, Sep 20, 2005 |
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Corporate
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Trade & Labour Unions Wage pact in Tata Steel Our Bureau
Kolkata , Sept. 19 A "HISTORIC" wage agreement was signed between Tata Steel Ltd and the Rashtriya Colliery Mazdoor Sangh (REMS), outside the purview of the National Coal Wage Agreement (NCWA) umbrella. This is for the first time in Tata Steel's history that the wage settlements were done bilaterally with the union. A Tata Steel statement said that the wage agreement, signed on Sunday at Jamshedpur, covers over 10,500 employees of the Tata Steel collieries at Bhelatand, Jamadoba, Sijua, 6 & 7 Pits, Digwadih and Jamadoba washery at Jharia and West Bokaro washery. The agreement, effective for a period of seven years from June, 2001, has ensured a minimum wage of Rs 5,650 per month as against Rs 5,550 per month in the seventh NCWA. The total minimum and maximum wages have been revised to about Rs 6,316 to Rs 17,906 per month respectively as against about Rs 6,204 and Rs 14,843 per month in NCWA-VII. The wage agreement has also revised allowances such as house rent, underground working, night shift, washing, conveyance and gas.
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