The company has once again given a big gift to its permanent employees. Actually, their salary has been increased up to 17000 (Variable increment of 3000 rupees including 14000 basic pay). The grade pay of the employees has also been revised. Thousands of employees will get the benefit of this.
Tata Motors gave a big gift to its 5600 employees. Actually the revision of grade pay has been done. After which the basic salary has been increased. Now the basic salary of the employees has been increased by ₹ 6618. Earlier in the year 2021, the basic salary of the employees was increased by ₹ 4400.
According to the new rule issued, this grade revision will be valid for 4 years, the benefit of new grade pay will be given from April 1, 2022. At the same time, it will be applicable till 31 March 2026. Under this, 5680 employees will get its benefit. Along with this, there will be an increase of 65 percent in the basic pay of the employees. The same growth of 15 percent will be recorded for the second year and 10 percent for the third and fourth years.
In another agreement, the amount of variable pay in the salary of the employees has also been increased to ₹ 3000. Giving a big gift to the employees, the company has decided to bring 151 other employees in the permanent category. Apart from this, the salary of by-six temporary employees has also been increased from ₹ 4000. ₹ 20000 will be provided as bonus to all the permanent employees of Jamshedpur plant. At the same time, the facility of medical referral to the employees has been increased from Rs 4 lakh to Rs 5 lakh.
A four-year long-term MoU was signed between the Tata Motors Jamshedpur Management and the Tata Motors Workers’ Union on Saturday, April 23, 2022 at the Jamshedpur plant for the period between the financial years ’22 and ’26. The signing of the agreement was completed in the presence of VP Operations, CVBU AB Lal, VP (HR) – Sitaram Kandi and CVBU (HR Head) Biswaroop Mukherjee.
Salient Features of the Agreement and the Big Announcement
- Fixed increment of Rs 14,000,
- Variable increment with maximum benefit up to Rs.3,000,
- One-time signing bonus of Rs.20,000 on time for LTS,
- Rs 4,000 increment for temporary employees
- 151 temporary employees have been included in the permanent tax.