Companies

Hyundai Motor India inks revised wage pact with employees union 

G Balachandar | | Updated on: Jun 30, 2022

FILE PHOTO: The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo | Photo Credit: ANDREW KELLY

The country’s second-largest passenger vehicle maker Hyundai Motor India Ltd (HMIL) has successfully completed its long-term wage settlement with its recognised union, the UUHE (United Union of Hyundai Employees).  

HMIL and  the union have cordially signed the long-term wage settlement with mutual trust being the key pillar of the agreement, a company communication said.  

The three-year wage settlement will be implemented with retrospective effect from April 1, 2021, and will remain effective until March 31, 2024. 

The revised all-inclusive package will see a salary increase of ₹28,200 per month (in the ratio of 55 per cent, 25 per cent and 20 per cent for a period of three years) amongst other benefits. As many as 2,239 technicians of the company will benefit from the revised wage package. 

In the previous wage agreement signed with UUHE in 2019, the average salary increase was ₹25,200 a month spread over three years. 

HMIL’s two factories at Sriperumbudur manufacturing complex can produce up to 7.5 lakh units per annum. 

Published on June 30, 2022
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