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

CIL’s headquarters are in Kolkata

The Coal Ministry said it had agreed to a remuneration review agreement reached with trade unions for non-executive employees of Coal India Limited.

The agreement provides for 19 per cent minimum guaranteed benefits from 1 July 2021, on bonuses – Variable Basic Privilege Allowance (VDA), Special Pride Allowance (SDA) and Attendance Bonus plus a 25 per cent increase in allowances.

“The Memorandum of Agreement for NCWA-XI signed by Coal India Limited, Singareni Collieries Company Limited and trade union representatives has been confirmed,” the ministry said in a call with Coal India.

The agreement was reached in May by the Joint Bilateral Committee of the Coal Industry (JBCCI)-XI made up of representatives from CIL management, Singareni Collieries Company Limited (SCCL) and five central trade unions – BMS, HMS, AITUC, CITU and Indian National Mineworkers’ Confederation. (INMF).

The agreement will benefit approximately 2.81 thousand employees of CIL & SCCL who were on the company’s rolls as of July 1, 2021.

CIL has made provision of Rs. 9,252.24 crore for a period of 21 months from 1st July 2021 to 31st March 2023 for this purpose. The company’s net profit fell by 18% to Rs. 5,528 crore in the fourth quarter of FY2023 due to higher provisions for wages.

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: June 24, 2023 | 4:32 PM ist