Salary Increase News: The Central Government has now approved the increase in the salary of some more employees (Salary Hike of Employees). Giving information, the ministry said that the wage revision agreement with trade unions for non-executive employees of Coal India Limited has been approved. Now these employees will get the benefits of Basic, VDA, Special Dearness Allowance and Bonus etc. in their salary. Apart from this, there will be an increase of 25 percent in the allowance.
In a note sent to Coal India, the ministry said that approval has been given for NCWA-XI of Coal India Limited, Singareni Collieries Company Limited and trade union representatives. This deal will benefit about 2.81 lakh employees of CIL and SCCL, who were working with the company on 1 July 2021.
The deal was done in May
The agreement was signed in May on behalf of Joint Bilateral Committee for Coal Industry (JBCCI)-XI, consisting of CIL Management, Singareni Collieries Company Limited (SCCL), five Central Trade Unions – BMS, HMS, AITUC, CITU, Mine Workers Federation (INMF) and representatives of the Indian National.
how much increase provision
CIL has made a provision of Rs 9,252.24 crore for a period of 21 months with effect from July 1, 2021 to March 31, 2023. Due to increase in provision for salary, the company’s net profit has decreased by 18 percent to Rs 5,528 crore in the fourth quarter of FY 2023.
19 percent increase in salary
After this approval from the Ministry of Coal, now apart from dearness allowance, basic salary and others will increase. The total increase can be up to 19 percent. This increase is for a total of 21 months from July 2021 to March 2023.
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