Coal India Limited-Historical Pay Agreement

Historic wage agreement by Coal India Limited

Question: Recently, 10th Wage Agreement of Coal Workers was finalised on the 10th meeting on 10th day of 10th month of this year. In this meeting, at what percentage of increase in the salary was agreed upon?
(a) 15 percent
(b) 20 percent
(c) 25 percent
(d) 30 percent
Answer: (b)
Related Facts:

  • On October 10th, 2017, the 10th Wage Agreement of Coal Workers was finalised in the 10th meeting this year.
  • Wage Agreement of the employees has been due from 1 July 2016.
  • Trade Union representatives were insistent for 50% of wage increase.
  • Their demand was there should be 50% wage increase for the employees.
  • But considering the country’s position, CIL’s benefit and financial position, a new record has been created by agreeing 20% increase on wages.
  • The special accomplishment of this agreement is that every employee shall get one day’s rest in a week.
  • It has also been decided that from 16th October to 15th November, 2017 welfare, safety and productivity drive shall be carried out.
  • To implement the agreement in totality, the payment of arrears would be made in three stages – 40%, 30% & 30%.
  • For the welfare of workers an amount of Rs.40,000/- would be paid to the employees before Diwali as a one-time advance.
  • CIL and its employees will contribute, for the first time, 7% towards pension fund which will help retired employees to avail the pension facility.
  • To implement the scheme of medical treatment to the retired employees, CIL will contribute an amount of Rs.18,000/- for each employee towards contributory post retirement medical scheme, apart from Rs.40,000/- by each employee contributed towards the said scheme. This fund will be operated through a Trust.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=171575
http://pib.nic.in/newsite/PrintHindiRelease.aspx?relid=67592
http://www.univarta.com/news/india/story/1014901.html
http://www.livehindustan.com/jharkhand/dhanbad/story-40-thousand-rupees-to-coal-workers-before-diwali-1590617.html