Hyundai hikes average monthly wages by Rs 25,200

NEW DELHI: Korean auto major Hyundai Motor India Limited (HMIL) Monday inked a wage settlement pact with technicians at its Chennai facility raising average monthly salary by Rs 25,200 for a three-year period till March 31, 2021.

The agreement will come into retrospective effect from April 2018. As per the agreement, technicians will receive 55% of the increased salary in the first year, 25% in the second year and 20% in the third year.

“This would mean a monthly salary raise of Rs.13,860 will be given in the first year, Rs. 6,300 in the second year and Rs. 5,040 a month in the third year”, the company said in a statement.

The United Union of Hyundai Employees (UUHE) has been in talks with the management for finalising the wage pact for the past several months. Hyundai Motor has over 2,200 permanent workers, around 3,500 trainees and another 5,000 contract workers in the Sriperumbudur facility.

Sources in the know informed Maruti Suzuki too has raised average monthly salary of workers at its Gurugram and Manesar facilities by Rs 22,700 for three years till 2021. Workers will receive 55% of their increment in the first year and 25% and 20% of the increment in the second and third years respectively.

Hyundai Motor India had previously signed a wage settlement pact with workers of its Chennai plant, under which it gave technicians an average salary hike of up to Rs 19,000 per month spread over three years in February 2016. The three year wage settlement was implemented with retrospective effect from April 2015 and was in effect until March 2018. As per the agreement, technicians received an average salary increase of Rs 19,000 per month spread over three years. The technicians received 50% of the increased salary (Rs 9500) in the first year and 25% (Rs 4750) in the remaining two years.

In September 2015 , Maruti Suzuki India had reached a wage settlement with workers of its Gurgaon and Manesar plants, under which employees got an average salary hike of around Rs 16,800 per month spread over three years.

Hyundai Motor India Ltd.