Jamshedpur: Tata Steel’s ISWP and JEMCO employees to get pay rise under 7-year agreement

Mail News Service

Jamshedpur, May 28: On Tuesday, the pending wage revision agreement for employees of Tata Steel-operated Indian Steel and Wire Products (ISWP) and JEMCO was successfully finalized. As a result, employees will witness a substantial increase of Rs 10,000 per month in their salaries. The agreement was signed by MD Abhijit A Nainoti, Vice President Rod and Wire JK Singh, Vice President Finance UN Mishra, Vice President Purchase Vijayant Kumar, CHRO Shilpi Shivangi, Manager HR Aditi, and on behalf of the union, President Rakeshwar Pandey, Deputy President Shrikant Singh, General Secretary Pankaj Singh, Dani Shankar Tiwari, Amrik Singh, Manjeet Singh Minte, Gurvinder Singh, Manjeet Singh, Anwar Siddiqui, Gemco Union General Secretary Amit Sarkar, Manjeet Singh, Manoj Kumar, Sameer Mahato, Ramesh Kumar, and Ravindra Singh.

Under the terms of the agreement, the minimum guaranteed benefit (MGB) has been raised by Rs 3000 per month. This agreement is slated to be effective for seven years starting from April 1, 2023, benefiting a total of 260 employees directly. Consequently, the pay scale for employees will now range from Rs 62,000 to Rs 72,500 per month. Additionally, the long service award for employees has also been augmented. Employees with 25 years of service, previously receiving Rs 1500, will now receive Rs 3000. Likewise, employees with three years of service will witness an increase from Rs 3000 to Rs 6000. Those with 35 years of service will now receive Rs 9000 instead of Rs 6000, while employees serving for 40 years will see their long service award raised to Rs 12,000 from Rs 8000.