Hyundai India completes wage agreement with its employee union
India's largest car exporter, Hyundai Motor India Limited (HMIL) has announced the successful completion of its long term wage settlement with their recognised union the UUHE (United Union of Hyundai Employees). According to the company, the three year wage settlement will be implemented with retrospective effect from April 2015 and will remain effective until March 2018.
The technicians working at Hyundai will receive an average salary increase of Rs.19,000 per month spread over three years. This will be done in a phased manner. The technicians will receive 50 per cent of the increased salary in the first year while the rest 50 per cent will be equally divided in the remaining two years.
"This would mean a salary raise of Rs.9500/- a month will be given in the first year and Rs. 4750/- a month in the second and third year respectively," said the statement.
| Chennai, Feb 17th: Hyundai Motor India Limited (HMIL) today announced the successful completion of its long term wage settlement with their recognized union, the UUHE (United Union of Hyundai employees). The three year wage settlement will be implemented with retrospective effect from April 2015 and will remain effective until March 2018. As per the agreement technicians will receive an average salary increase of Rs.19,000/- per month spread over three years. Technicians will receive 50 percent of the increased salary in the first year and 25 percent each in the remaining two years. This would mean a salary raise of Rs.9500/- a month will be given in the first year and Rs. 4750/- a month in the second and third year respectively. | |