NMDC signs wage pact for nonexecutive staff ensuring DA neutralization
Business
NMDC, India's top iron ore producer, just signed a fresh wage agreement for its nonexecutive staff.
Starting from January 2022, employees get full Dearness Allowance neutralization and at least a 15% minimum guaranteed benefit.
There's also a cafeteria system now, so workers can pick extra benefits worth 30% of their basic pay to better fit their needs.
NMDC project staff receive 5% allowance
Staff at NMDC projects like Bacheli, Kirandul, Donimalai, and Panna will see an extra 5% allowance on top of their basic salary. Night shift and other allowances have also been updated.
CMD Amitava Mukherjee said the wage revision reflected NMDC's commitment to recognizing and rewarding the contributions of its non-executive and workmen employees.