Hindustan Aeronautics Ltd, trade unions agree to settle wage revision

The Hindustan Aeronautics Limited management and its workforce have entered into an agreement to settle the wage revision.

A Memorandum of Understanding (MoU) was signed at HAL Corporate Office here on Tuesday between the HAL management and its Trade unions, the Bengaluru-headquartered defence PSU said in a statement.

The MoU envisages revision of wage structure with effect from January one, 2017, productivity improvement and other related matters, it said.

As part of the wage revision, the HAL management has offered fitment benefit at 12 per cent and perks & allowances under cafeteria system (at 25 per cent for workmen in scale 1 to 10 and at 22 per cent for workmen in special scale) of the revised basic pay effective from January one, 2017, besides other benefits, the statement said.

Upon ratification of the Board of Directors, a tripartite settlement before the labour authorities will be executed at different locations of the company before notifying the revised wage structure, HAL added.