New Wage Settlement of MOIL workers signed between MOIL Management-MOIL Kamgar Sanghathan, in the presence of Chief Labour Commissioner (Central)

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Ministry of Labour & Employment New Wage Settlement of MOIL workers signed between MOIL Management-MOIL Kamgar Sanghathan, in the presence of Chief Labour Commissioner (Central) Wage revision to benefit close to 6000 company employees. Posted On: 17 NOV 2021 6:29PM by PIB Delhi In a major development & relief to more than 6000 workers wage settlement was signed between MOIL Management-MOIL Kamgar Sanghathan in presence of Chief Labour Commissioner (Central).MOIL Limited is a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, Government of India. Thewage revision is for 10 years’ duration w.e.f 01.08.2017 up to .31.07.2027, benefitting close to 6000 company employees.  It is based on an MOU arrived between management and recognized union of MOIL i.e.  MOIL Kamgar Sanghatan (MKS).  The settlement includes fitment benefit of 20% and perks/allowances at the rate of 20%.  An Interim relief @ 12% of Basic and DA was given by the company w.e.f May, 2019. ​It was agreed that MOIL will be making the arrear payment in one go, which will have a financial impact of Rs. 218 crores approximately for the period it is due i.e. from 1st August, 2017 to 30th September, 2021. The financial impact of the proposed wage revision will be about Rs.87 crores per annum. MOIL LIMITED has already made full provisions for this wage increase in the books of accounts.   Recently approval of the wage revision of MOIL workers was announced by Shri Nitin Gadkari, Hon’ble Minister for Road Transport & Highways and Shri Ram Chandra Prasad Singh, Hon’ble Minister of Steel, Government of India, However, long standing formal wage settlement was Signed today at Delhi with Recognized workers Union, CMD(MOIL) in presence of Shri D.P.S. Negi, Chief Labour Commissioner (Central). Representing the Management​ at the historic wage settlement were Shri Mukund P. Chaudhari, Chairman-cum Managing Director MOIL Ltd., Shri Rakesh Tumane, Director (Finance), MOIL Ltd., Smt. Usha Singh, Director (HR) MOIL Ltd., Shri PVV Patnaik, Director (Commercial) & I/c (P&P), MOIL Ltd. and Shri C.B. Atulkar, ED (Technical) MOIL Ltd. The Union was represented by Shri Ramawatar Dewangan, Secretary General, MOIL Kamgar Sanghathan HO Nagpur, Shri Mukunda Jambulkar, vice President, HO Nagpur, Shri Vedprakash Diwan, Branch Secretary.Shri Appu Nair,Treasurer, HO Nagpur and Shri Aifaz Kureshi, General Secretary MOIL is the largest producer of manganese ore in the country and operates eleven mines in the State of Maharashtra and Madhya Pradesh. MOIL holds nearly 34% of manganese ore reserves of the country and is contributing nearly 45% of the domestic production. The company has ambitious vision of almost doubling its production to 25 lakh MT by FY 2024-25. MOIL is also exploring business opportunity in the State of Gujarat, other areas in the State of Madhya Pradesh, Rajasthan and Odisha. *** GK     (Release ID: 1772698) Visitor Counter : 996 Read this release in: Urdu , Hindi