Chennai, Jan 29 (PTI) 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.Also Read - Trade Unions Call For Nationwide Strike On March 28, 29; Bank Services To Be Hit | Details Here
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. Also Read - No Bank Strike Tomorrow! Trade Union Defers Nationwide Bandh to March
“The MOU will be converted into Memorandum of Settlement before the Chief Labour Commissioner (Central), New Delhi in due course,” it said. Also Read - New Zealand MP Cycles to Hospital While Having Labour Pain, Gives Birth To Baby Girl | See Pics
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 companies, including India Cements, Ultra Tech, Ramco Cements, Dalmia Cement, Chettinad Cement, Zuari Cement, JK Lakshmi Cement and Century Cement had authorised the CMA to negotiate with the trade unions on their behalf.
Srinivasan headed the negotiation committee and the talks were coordinated by top business leaders including K K Maheshwari, Managing Director, UltraTech Cement Ltd. and Mahendra Singhi, Group CEO and Whole Time Director, Dalmia Cement (Bharat) Ltd and President, CMA, it said.
The trade unions were represented by G Sanjeeva Reddy, President, INTUC, Deo Raj Singh, Organising Secretary, INTUC, Ghisulal B Kalal, National Executive Member, BMS and M Shanmugam, General Secretary, LPF, among others.
Srinivasan, a past President of CMA, has been spearheading the negotiations for the past 26 years and helped in amicably concluding seven out of the eight wage settlements for the cement industry including the current MOU, the release said.
He was quoted as saying the cement industry was facing many challenges and that not all regions were prosperous.
Limestone deposits were available in just seven states and the industry had faced weak demand in the last seven years, he said.
The cement industry was left to face enormous cost pressure, though at the same time it has been a “benevolent employer,” he said.
“The national level, industry-wide settlement since 1992 is unique as it is collective bargaining in its truest sense as the management and the unions sit across the table and then it is signed before the Central Chief Labour Commissioner in New Delhi.
This has assured industrial peace in the industry in the last 26 years,” he added.
This is published unedited from the PTI feed.