After negotiations that lasted six months, three unions in Maruti Suzuki India Ltd’s plants in Haryana said they had reached a wage settlement with the country’s largest car maker under which employees will get an average salary hike of ₹16,800 per month, over three years.

A statement issued by Kuldeep Janghu, General Secretary, Maruti Kamgar Udyog Ltd, said the agreement was reached amicably after 40 meetings between the three unions — Maurti Udyog Kamgar Union, Maruti Suzuki Workers Union and Maruti Suzuki Powertrain Employees Union.

A source in the company confirmed the development to BusinessLine saying: “Yes, it is true. The management of the company has in-principle agreed to their demand and has signed the agreement.”

According to sources, the average hike in the salary of workers will be 38 per cent over three years compared with their remuneration in 2014-15.

The agreement will be implemented from April 1, 2015 to March 31, 2018. Under the pact, the basic pay hike will be ₹16,800 per month, to be paid in three instalments over three years — 50 per cent this year and 25 per cent each in the next two years. “The arrears of the first lot will be paid by this month-end,” Janghu said.

“On an average, the salary hike per worker is around ₹16,800 per month, of which ₹8,430 (per month) will be given in the first year and ₹4,200 each in the second and third years,” he said.

Janghu also announced that in appreciation of the amicable settlement, the company’s MD and CEO, Kenichi Ayukawa, has promised to pay ₹3,000 each to the workers as a one-time incentive, to be paid this month.”