Corporate News     22-May-23
Coal India inks National Coal Wage Agreement for period of 5 years

The Joint Bipartite Committee for the Coal Industry (JBCCI)-XI consisting of representative of Management of Coal India (CIL), Singareni Collieries Company (SCCL), five central trade unions i.e. BMS, HMS, AITUC, CITU and Indian National Mine Workers' Federation (INMF), an affiliate of INTUC in its 10th meeting held on 20th May 2023 recommended and inked National Coal Wage Agreement (NCWA)-XI for the period of five years w.e.f. 01 July 2021.

19% (Nineteen Percent) Minimum Guaranteed Benefit (MGB) w.e.f. 01 July 2021 on emoluments (i.e. Basic, VDA, SDA & Attendance Bonus) as on 30 June 2021 and 25% increase in allowances have been granted in NCWA-XI. Around 2.81 lakh employees of CIL & SCCL who were on the rolls of the company as on 1st July 2021 would be the beneficiaries post implementation of NCWA-XI. Further, CIL has made provision of Rs 9252.24 crore for a period of 21 Months w.e.f. 01 July 2021 to 31 March 2023 for this effect. The final impact of 25% increase in allowances will be intimated shortly which is not likely to be significant.

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