Tata Steel Foundation employees to get pay rise under 7-year agreement

Mail News Service

Jamshedpur, Jan 31:  Tata Steel Foundation, under the umbrella of Tata Steel, has successfully negotiated a fresh wage revision agreement benefiting its employees. The agreement, spanning from October 1, 2021, to September 30, 2028, brings about notable changes in the remuneration structure.

As per the revised terms, the basic pay has been set at Rs 15,680, with a fixed Dearness Allowance (DA) of Rs 2,200 and a variable DA of Rs 1,967.5, resulting in a minimum pay of Rs 19,847.05. Employees will also receive a two-year increment in arrears, ranging from a minimum of Rs 1,42,770 to a maximum of Rs 1,77,330. Annual increments will vary between Rs 185 to Rs 280 for the minimum range and Rs 320 to Rs 445 for the maximum range.

Additionally, employees will enjoy various allowances, including a monthly convenience allowance of Rs 600. Over the course of two years, Leave Travel Concession (LTC) will amount to Rs 7,000, while the field and maintenance allowance will be Rs 500 per month. Fuel allowance has been set at Rs 600 per month.

Medical facilities, including treatment for employees’ daughters and referral services, have been included in the agreement. The leave policy will come into effect from January 1, 2024. A total of 82 employees stand to benefit from these comprehensive revisions.

The agreement was formally signed by key representatives, including Tata Steel Foundation MD cum CEO Saurabh Rai, Chief Financial Officer Rama Iyer, Head People Officer Abhinav Sharma, Union President Rakeshwar Pandey, Working President BK Dinda, Vice President Ramchandra Tudu, Union President Advisor Vijay Khan, Treasurer Lalita Raj, General Secretary Shankar Rao, Vice President Ramakrishna, Joint Secretary Biren Tiu, and Assistant Secretary Gopal Behera, alongside Assistant Secretary Surendra Prasad.