MOIL Employees: The Ministry stated that in addition to the interim relief of 12% of Basic and DA was given by the Company from May 2019 onwards.
7th pay commission DA hike (DA Hike) of central employees, now MOIL (Manganese Ore India Limited) has increased the salary of its employees. Due to which more than 6,000 people associated with MOIL have been benefitted. This has resulted in an increase of about 20% in the salaries of the employees.
The Ministry of Labor and Employment on Wednesday said that a new wage agreement for MOIL employees has been signed between MOIL Management and MOIL Kamgar Sangathan, which will benefit more than 6,000 workers. The pay revision is for 10 years from August 1, 2017 to 2027. As per the agreement with the employees, the company will give a slew of benefits including fitment benefit of 20% and another allowance at 20%.
The ministry said that with effect from May 2019 the interim relief of 12% of principal and DA was given by the company. The company will also pay the dues in one go. While the dues will have a financial impact of around Rs 218 crore, the revision in salary will have an annual impact of Rs 87 crore on the company.
The agreement also states that the agreement will be implemented within 60 days of signing the same. MOIL is a Miniratna state-owned manganese ore mining company headquartered in Nagpur. With a market share of 50%, it is the largest producer of manganese ore in India. MOIL operates 11 mines in Maharashtra and adjoining districts of Madhya Pradesh.
The Ministry said that this agreement heralds a new era of growth and prosperity for MOIL and its employees. This will surely motivate the employees to work towards higher production and productivity.
