Tata Motors employees have a reason to rejoice with the management sanctioning a wage revision.
After revision, the employees will get a minimum benefit of Rs 7,530 and a maximum of Rs 9,052 in their monthly wages.
Plant head A.B. Lall and Telco Workers’ Union president and cabinet minister Rajendra Prasad Singh signed the memorandum of settlement at the company’s general office on Monday evening.
The agreement will be valid from April 2013 to March 2016. Sources from the company revealed that the management had also agreed to regularise the services of nearly 250 temporary workers.
The wage highlights comprise revision of HRA to 10 per cent of revised basic pay, minimum guarantee fitment benefit of Rs 2,500, one increment in the revised grade and merger of fixed DA of Rs 2,500 in basic pay.
The Intuc-affiliated union expressed joy over the new wage structure. “The revision is employee-friendly and we are happy,” said Santosh Singh, a senior functionary.