Coal India Concludes Wage Revision Pact With Non-Executive Workers

Talks on wage revision between Coal India Limited (CIL) and stakeholders representing non-executive employees have reached an amicable closure. 

While the CIL has agreed to a 19% minimum guaranteed profit on perquisites, it is also going to hike the allowances by 25 per cent. CIL has informed that it has allocated Rs 9,252.24 crore for this purpose for a period of 21 months. 

The announcement is crucial because non-executive employees at Coal India await revision every five years as compared to the standard yearly appraisals which most organisations opt for.

The wage revision will come into effect from July 1, 2021.