Steel Authority of India Limited (SAIL) has arrived at an employee friendly agreement with the workers' representatives for revision of wages with retrospective effect from January 1, 2007. Under this agreement which is valid for five years, the SAIL employees are entitled to a guaranteed benefit at 21 per cent of the basic pay plus dearness allowance.
Following the revision, the basic pay and dearness allowance (DA) of the S1 grade of employees of SAIL would go up from Rs 10,969 to Rs 14,320 and that of S4 grade employees from Rs 13246 to Rs 17290.
Similarly, the basic pay and DA of the S8 grade employees has been increased from Rs 17921 to Rs 22570 and that of S11 employees from Rs 21413 to Rs 27950.
The SAIL Management has agreed to the demand of the workers' representatives to fix a uniform rate of increment at three per cent.
“This agreement of SAIL is one of the best in terms of benefits accruing to the workers compared with the agreements arrived at other companies in the recent past like Coal India and Tata Steel. The benefit to the SAIL employees as a result of this agreement works out to be 15 per cent higher than the wage settlement at Tata Steel”, said a SAIL release.
On issues pertaining to contract labour, SAIL has constituted a committee which is likely to meet shortly and address the issues.
