Coal India
25% allowances hike for Coal India non-executive workers after agreement
Mumbai: Coal India Ltd (CIL) has revealed that it has successfully concluded discussions with its extensive workforce of 2.38 lakh non-executive employees over the revision of wages, media reports said.
As per the agreement reached, starting from July 1, 2021, a minimum guaranteed benefit of 19% will be provided on emoluments, which include basic pay, variable dearness allowance (VDA), special allowance (SDA), and attendance bonus. Further, there will be a 25% increase in allowances, Coal India said in a filing to the stock exchanges, according to a report in the media.
"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 i.e. BMS, HMS, AITUC, CITU and Indian National Mine Workers' Federation (INMF) on May 20, 2023, recommended and inked National Coal Wage Agreement (NCWA)-XI for the period of five years w.e.f. 01.07.2021," the miner said.
After the agreement's implementation, approximately 2.81 lakh employees of Coal India Ltd (CIL) and Singareni Collieries Company Ltd (SCCL) who were on the company's payroll as of July 1, 2021, will become beneficiaries of the revised wage structure.
In order to account for the revised wage agreement, Coal India Ltd (CIL) has allocated a provision of Rs 9,252.24 crore for a period of 21 months, spanning from July 1, 2021, to March 31, 2023.
This provision will accommodate the financial implications of the agreement. Additionally, the exact impact of the 25 percent increase in allowances will be communicated soon, although it is anticipated to have a negligible effect.
The wages of non-executive workers, who make up 94 percent of Coal India's total workforce, are typically revised every five years. As per this recent agreement, the wages have been revised.
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