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Maruti Suzuki reaches wage settlement, workers bag Rs 16,800 monthly salary hike

The wage agreement with workers at its Manesar and Gurgaon plants will set a new benchmark for the automobile industry in India.

, ET Bureau|
Updated: Sep 26, 2015, 04.17 AM IST
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After about six months of negotiations, Maruti Suzuki India has reached a wage settlement with its three labour unions.
After about six months of negotiations, Maruti Suzuki India has reached a wage settlement with its three labour unions.
NEW DELHI: After about six months of negotiations, Maruti Suzuki India has reached a wage settlement with its three labour unions, entailing employees an average salary increase of around Rs 16,800 spread over three years. The wage hike of about 38 per cent will take effect retrospectively from April 1 and will be valid till March 31, 2018. The wage agreement with workers at its Manesar and Gurgaon plants will set a new benchmark for the automobile industry in India.

According to a source, the monthly cost to company in 2014-15 for a worker would be a little over Rs 50,000, a month, which is better than the industry average. Maruti workers will receive 50 per cent of the increased component in the first year and 25 per cent each in the remaining two years. This would mean a salary raise of Rs 8,430 a month, will be given in the first year and an increment of Rs 4,200, a month in the second and third year respectively.

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