Cement Manufacturers' Assn reaches wage pact with unions
The Cement Manufacturers' Association has reached a wage pact with the federation of major trade unions, including INTUC and AITUC, on enhancing pay and other benefits for employees in the sector.
India Cements Vice Chairman and Managing Director N Srinivasan headed the negotiations and the MoU was reached on January 21, 2019, a company release here said Tuesday.
"The MOU will be converted into Memorandum of Settlement before the Chief Labour Commissioner (Central), New Delhi in due course," it said.
The MoU, the eighth national level settlement, will be for four years from April 1, 2018 to March 31, 2022.
It provides for an increase of Rs 5,000 per month in the Gross Pay of employees, which will be paid in two instalments of Rs 2,500 each with effect from April 1, 2018 and April 1, 2020, it said.
It also provides for enhanced Dearness Allowance, Service Weightage and other benefits, it said, adding arrears for 10 months will be paid in two instalments.
A total of 21 ...