Union Steel Minister announces bonus, wage revision for MOIL employees

Union Minister of Steel Ram Chandra Prasad Singh on Sunday announced a bonus of Rs 28,000 as well as wage revision for the employees of the state-owned Manganese Ore India Limited (MOIL).

Singh was addressing a gathering at the inauguration 2nd Vertical Shaft, Chikla Mine and various other facilities of the company based at Nagpur in Maharashtra.

He announced a production-linked bonus of Rs 28,000 for all the MOIL employees, which will be paid before the upcoming Diwali festival.

The wage revision is for 10 years, with effect from August 1, 2018 to July 31, 2027, and will benefit around 5,800 employees of the company, it said in a release.

It is based on an MoU arrived between the company's management and the MOIL Kamgar Sanghatan, a recognised union of its employees.

The proposal includes fitment benefit of 20 per cent and perks /allowances at the rate of 20 per cent, the release said.

An interim relief at 12 per cent of the basic and dearness allowance (DA) was given by the company with effect from May 2019, it said.