Business Standard

Coal Ministry nod to hike in wage of Coal India non-executive employees

The agreement will benefit around 2.81 lakh employees of CIL & SCCL who were on the rolls of the company as on July 1, 2021

CIL's corporate headquarters in Kolkata

CIL's corporate headquarters in Kolkata

Press Trust of India Kolkata
The Coal Ministry has said it approved a wage revision agreement that was reached with trade unions for non-executive employees of Coal India Limited.
The agreement provides for a 19 per cent of minimum guaranteed benefit from July 1, 2021, on emoluments - basic, Variable Dearness Allowance (VDA), Special Dearness Allowance (SDA) and attendance bonus besides a 25 per cent increase in allowances.
In a communication to Coal India, the ministry said, "The MoA (memorandum of agreement) for NCWA-XI as signed by Coal India Limited, Singareni Collieries Company Limited and trade union representatives, has been confirmed."

The agreement was reached in May by the Joint Bipartite Committee for the Coal Industry (JBCCI)-XI consisting of representatives of CIL management, Singareni Collieries Company Limited (SCCL), five central trade unions - BMS, HMS, AITUC, CITU and Indian National Mine Workers' Federation (INMF).
The agreement will benefit around 2.81 lakh employees of CIL & SCCL who were on the rolls of the company as on July 1, 2021.
CIL has made a provision of Rs 9,252.24 crore for a period of 21 months effective July 1, 2021, to March 31, 2023, for this effect. The company's net profit declined 18 per cent to Rs 5,528 crore in Q4 of FY 2023 due to increased provisions towards wages.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 24 2023 | 4:32 PM IST

Explore News