Hyundai finalises wage agreement
Chennai, Oct 19 (IBNS)
Automobile major Hyundai Motor India Limited (HMIL) has announced the successful completion of its wage settlement negotiations with the United Union of Hyundai Employees (UUHE).
"The three year wage settlement with UUHE will be from April 1, 2012 and remain effective until March 31, 2015," said the company in a statement.
The wage increase ranges from Rs 11,000 to Rs 13,000 excluding components like the variable dearness allowances and other welfare benefits.
The employees will get 40pc of the wage increase in the first year and 30pc in the next two years.