The Cement Manufacturers Association (CMA) has finalised a long-term wage settlement covering employees working in 20 companies accounting for 65 per cent of domestic cement production. According to an industry source, the four-year settlement from April 2014 to March 2018 covers workers in 85 cement factories producing about 189 mt annually out of the total production of about 285 mt.
The settlement provides for a total hike of approximately Rs 6,000 a month on the gross pay to be paid in two instalments-with a Rs 3,000 hike from April 2014 and the next in September 2016-?which translates into an increase of about 33 per cent in salary.
The arrears for 16 months will be paid in two instalments. This is the seventh such national level settlement. It was finalised on July 29 between the CMA and the trade unions in New Delhi before the Chief Labour Commissioner PP Mitra and CMA representatives including the President OP Puranmalka, and N Srinivasan, Vice-Chairman, India Cements, who led the settlement on behalf of CMA.