Financial Daily from THE HINDU group of publications
Friday, Dec 23, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 23, 2005 |
|
|
|
|
|
|
|
Money & Banking
-
General Insurance Insurance wage hike gets Finance Ministry's nod Our Bureau
Kochi , Dec. 22 THE Finance Ministry has okayed wage revision for over 60,000 employees of the four public-sector insurance companies, the General Insurance Officers All India Association has said. The wage revision, which had been cleared by the trade unions and the management body — the General Insurance Public Sector Association (GIPSA), at discussions held in Hyderabad last July, could not be implemented following disputes over the transfer and mobility policy, Mr P.P. Mohanan, General Secretary of the Kerala Association said. While the unions demanded independent and unconditional wage revision, GIPSA maintained that the mobility and transfer policy for clerical staff should form part of the wage revision proposals. As part of the wage revision, the management has curtailed the number of casual leave and discontinued half-day casual leave, Mr Mohanan said. The five-day week remains unchanged. The employees of four PSUs — United India Insurance, New India Insurance, Oriental Insurance and National Insurance — will be eligible for salary arrears from August 2002 as per the wage revision.
More Stories on : General Insurance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|