Mail News Service
Jamshedpur, June 14: The stage is set for renewed negotiations regarding the wage revision agreement for employees of Tata Power Company. With the current agreement set to expire on December 31, 2024, the Tata Power Employees Union has proactively initiated the process by submitting a charter of demands to the management on Friday.
The union’s move comes in anticipation of the impending wage revision, prompting both parties to expedite discussions and reach a mutually acceptable agreement before the end of the year.
On Friday, representatives from the Tata Power Employees Union, including President Rakeshwar Pandey, General Secretary Pintu Srivastava, Vice President Pankaj Kumar Rai, Treasurer Mukesh Kumar, and Kumar Alok, formally presented the charter of demands to the management. The management was represented by Plant Head Jagmeet Singh Sidhu, Operation Head Vasudev Hansda, HR Head Manish Tiwari, Praveen Kumar, Rakesh Bhadoria, and Chandni Gupta.
The current wage revision agreement, which was signed on March 23, 2021, was implemented for a four-year period spanning from January 1, 2021, to December 31, 2024. Under this agreement, the minimum salary saw an increase of Rs. 13,000, while the maximum salary was raised by Rs. 17,500. Additionally, there was a 15% increase in MGB (a component of compensation) and approximately a 45% increase in allowances.
As the expiration date of the current agreement approaches, both parties are gearing up for negotiations to ensure a seamless transition and address the concerns and demands of the employees.
The wage revision talks are expected to cover various aspects, including salary adjustments, allowances, and other benefits, aiming to strike a balance between the company’s financial considerations and the employees’ well-being.