There is great news for the officers and employees of Steel Authority of India (SAIL) including Bhilai Steel Plant (BSP Employees) of Chhattisgarh. The Union Steel Ministry has approved the pending wage settlement for 5 years.
Under this, now the amount of arrears from April 1, 2020 to October 2021 will be transferred to the accounts of the employees-officers. As a rough estimate, the officers 2.50 to 9.50 lakhs and employees will get the benefit of arrears from 75 thousand to 2.50 lakhs. About 54 thousand employees will be benefited by this decision.
According to media reports, the Union Ministry of Steel has approved the salary agreement of 54,000 SAIL officers and employees and an order has also been issued in this regard. This includes about 22 thousand officers and employees of BSP. , who will be paid arrears from April 1, 2020 to October 2021. The company will spend around Rs 950 crore in this. Out of this, about Rs 300 crore will come in the account of BSP employees and officers. It is likely that the amount of arrears payment will be transferred in November itself. will get.
According to media reports, according to the salary agreement, it will be applicable to all the employees working in SAIL from January 1, 2017. This wage settlement will remain in force for 10 years. The fitment benefit will be the new basic pay by adding 13% of the basic pay and 40.1% dearness allowance as of December 31, 2016. Variable perks will include 26.5 percent of the new basic pay, six percent special perks and other special allowances in the variable perks. All subsidy facilities will end. 6 arrears will be available in one installment from April 1, 2020 till now.
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