Bajaj Auto and plant unions reach wage hike agreement
Bajaj Auto Limited reached a settlement with unionized workers of Vishwakalyan Kamgar Sanghatana (VKS) at the company‚Äôs plant in Chakan near Pune, thus bringing to an end a¬†long standing unrest between management and union of Bajaj Auto Limited.
As per agreement between management and workers of Bajaj Auto Limited, permanent workers with more than five years of service will get a wage hike of INR 10,000 per month while those in service between three to five years will receive a hike of INR 9,500 per month. This wage agreement is effective from 1st April 2013 and was signed on 14th August following which both management and union have agreed to withdraw all cases pertaining to the plant.
This new agreement brings to an end nearly 18 months of strikes, unrest and violence at the company‚Äôs mail plant in Chakan, Pune. However, the demand for near free allotment of Bajaj shares of 500 shares per employee has been turned down.
The wage agreement also includes regular attendance bonus of INR 480 which has been revised. 50% of this that is INR 240 will be merged while the rest will be divided in weekly payments of INR 60. This results in a minimum wage hike of INR 10,280 and a maximum wage hike of INR 11,520.
Source The Hindu via PTI