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