CIL concludes National Coal Wage Agreement, granted 25% increase in allowances
The 10th meeting held on 20th May 2023 recommended and inked the National Coal Wage Agreement (NCWA)-XI for the period of five years w.e.f. 01.07.2021.
Image: Coal Bhawan
New Delhi: India's largest coal producer and a central public sector undertaking on May 22 announced the National Coal wage Agreement. The company in a letter mentioned the Joint Bipartite Committee for the Coal Industry (JBCCI)-XI consisting of representatives of Management of Coal India Limited (CIL), Singareni Collieries Company Limited (SCCL), five central trade unions i.e. BMS, HMS, AITUC, CITU and Indian National Mine Workers’ Federation (INMF), an affiliate of INTUC in its 10th meeting held on 20th May 2023 recommended and inked National Coal Wage Agreement (NCWA)-XI for the period of five years w.e.f. 01.07.2021.
19% Minimum Guaranteed Benefit (MGB) w.e.f. 01.07.2021 on emoluments (i.e. Basic, VDA, SDA & Attendance Bonus) as on 30.06.2021 and 25% increase in allowances have been granted in NCWA-XI.
Read Also : ERES-XXXIX incorporated as wholly subsidiary of REC Power Development& consultancy Limited
Around 2.81 lakh employees of CIL & SCCL who were on the rolls of the company as on 1st July 2021 would be the beneficiaries post-implementation of NCWA-XI.
Read Also : Adani Green Operationalizes 180 MW Solar Power Plant In RajasthanFurther, CIL has made provision of Rs 9252.24 Crores for a period of 21 Months w.e.f. 01.07.2021 to 31.03.2023 for this effect.
The final impact of 25% increase in allowances will be intimated shortly which is not likely to be significant.
Read Also : Tata Passenger Electric Mobility and HPCL partner to optimize EV charging infrastructureNews Must Read
- Shri. Bikram Ghosh takes charge as Director (Finance) in WCL
- SBI to change debit cards maintenance normal from 1 April, 2024
- NMDC excels at Governance Now 10th PSU Awards
- NTPC Group ties up JPY 30 billion funding from JBIC
- Jabalpur Airport connects Madhya Pradesh to other cities
- Best Organisations for Women title to PowerGrid
- Air India Faces Heavy Fine from DGCA of Rs 80 Lakh
- NCL's mega achievement; surpasses 500 Million Cubic Meters of Overburden
- RailTel bags major order from CDAC worth Rs 36 crore
- ICRA withdraws long term rating of NCDs of ONGC