Jamshedpur, Nov. 7: The management of the Tinplate Company Limited and the Golmuri Tinplate Workers’ Union (GTWU) today signed a wage revision agreement that was overdue since November 1, 2002. Having signed the landmark agreement, GTWU president Rakeshwar Pandey thanked the company management, especially managing director B.L. Raina, for his “benevolence.”

The GTWU executive committee praised Rakeshwar Pandey for his far-sightedness in meeting the aspirations of the workers. According to a press release, issued by GTWU, the benefits that the employees are entitled to get is not only exemplary, but also rare in the present day industrial scenario.

According to the revised wage, an employee would now get Rs 10,000 as travel allowance instead of Rs 7,500. Similarly, the travelling allowance has been increased from Rs 416 to Rs 800. The dearness allowance has been increased from Rs 2 to Rs 2.50 per point. The retirement reward has been fixed at Rs 6,000.

In addition to this all, the company management has taken care of the health aspect of the employee and his dependants. In case, an employee dies in course of treatment, then his dependants would get Rs 5,000 as emergency allowance.

The amount of life cover scheme (LCS) has been increased from Rs 79,000 to Rs 1 lakh. “Moreover, there is provision for payment of pension to the nominee of an employee in case of death in service, provided that the provident funds and gratuity of the deceased employee are settled with the company,” the press statement added.