NMDC signs wage settlement for workmen
NMDC has finalized a tripartite wage settlement for its non-executive employees, effective retroactively from January 2022. The agreement includes a 15% guaranteed benefit and revised allowances for workers across various project sites.
Why it matters
Wage settlements in major public sector enterprises impact labor relations and the economic stability of thousands of industrial workers.
India’s largest iron ore producer, NMDC, on Tuesday signed a tripartite wage settlement in New Delhi for its non-executive (workmen) employees, effective from January 1, 2022.
Under the revised wage structure, employees will receive 100% Dearness Allowance (DA) neutralisation as of January 1, 2022, along with a 15% minimum guaranteed benefit. Perks will be provided under the cafeteria approach at 30% of basic pay.
The settlement also introduces a special allowance equivalent to 5% of basic pay for employees posted at NMDC’s Bacheli, Kirandul, Donimalai and Panna projects. Changes have additionally been made to night-shift and other allowances.
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