KIOCL revises wages of its employees

KIOCL Ltd, the 100 per cent EoU under the ministry of steels, on Tuesday revised the wages. The revised wages will come into effect retrospectively from January 1, 2007, and shall remain in operation for five years.

With this revision, the employees stand to see a 27 per cent increase in their wages apart from their other allowances and the fringe benefits.

There will be a 100 per cent neutralisation of the dearness allowance in the revised pay scales as on January 1, 2007.

It will be revised quarterly as per All India Consumer Price Index base 2001=100, the company said in a press release.

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