Wage Agreement has been reached between the SAIL Management and the Unions on 2nd June 2014, which will be with retrospective effect from 01-01-2012. The last wage revision was in 2007 and the five year agreement is on vogue in SAIL. There will be 17% hike in basic pay and DA and 6% in perks. About 92,000 non-executive employees will benefit out of this agreement.
It is reported that last year the revenue of SAIL was Rs. 46,837 croes with a profit of Rs. 2,631 crores. The wage bill will be about rs. 9,594.03 crores, which is about 20% of the total income.
Congratulations to the SAIL workers and Unions for their achievement.