.jpg?lang=en-US&ext=.jpg)
-(1).gif?width=220&height=200&mediaprotectionhash=8011a71ede637cd523c67b1296fc49e6151560fde821a46f29cc85998cc76615&ext=.gif)
Tata Steel Management and Workers’ Union Sign Memorandum of Settlement
02/20/2008 - Management of Tata Steel and the Tata Workers' Union sign memorandum of settlement that provides for interim relief to qualifying employees of the company’s Steel Works and Tubes Division at Jamshedpur.
Management of Tata Steel and the Tata Workers' Union signed a memorandum of settlement on February 18, 2008 that provides for interim relief to qualifying employees of the company’s Steel Works and Tubes Division at Jamshedpur.
Based on the settlement, employees of Steel Works and Tubes Division will be paid a monthly amount of Interim Relief pending finalization of wage revision. The settlement covers all permanent employees (workers and supervisors) of the company at Jamshedpur (including the Tubes Division) that were covered by the Memoranda of Settlement dated 17-12-2001. Such employees must have been on the company’s rolls as of 31-12-2006, and must continue to be on the rolls as on the date of the settlement. The settlement also covers the employees who were appointed on the permanent rolls after 31-12-2006 and are also on the permanent rolls as of the date of this settlement.
Qualifying employees will be paid Interim Relief and an Adhoc amount toward increment, depending on their respective basic salary as on 12-31-2006, with effect from January 1, 2007. The company noted that the Interim Relief amount will not be paid for the duration of leave without pay/unauthorized absence or suspension from duty.
The company and union will discuss and finalize the Charter of Demands submitted by the union for wage settlement within four months of the date of this settlement.
In case the wage settlement does not take place early, eligible employees who would be on the company’s rolls as of July 1, 2008 would be paid an additional Adhoc amount towards Increment with effect from 1-1-2008, taking into consideration the basic salary of the employees as on 12-31-2006.
The settlement was signed by B Muthuraman, Managing Director of Tata Steel, H M Nerurkar, Chief Operating Officer of Tata Steel, and Raghunath Pandey, President of the Tata Workers' Union, as well as senior officials of the Company and the Union. The signing took place in the presence of Ram Pravesh Singh, Dy. Labor Commissioner, Government of Jharkhand, Jamshedpur.
