The new wage agreement will be effective from January 1, 2020, and valid till December 31, 2023. Workers at Bosch will be obtaining a hike of about Rs 20,300-23,000 by the finish of 2023 to take their wages to Rs 60,000-80,000 levels, based on the quantity of years with the enterprise.
Auto elements maker Bosch Chassis Systems India has signed a wage agreement with the Bosch Chassis Systems Employees Union, which guarantees a minimum 8% to a maximum 10% annual wage hike for workers for the duration of the agreement period irrespective of the inflation levels at that point of time. The new wage agreement will be effective from January 1, 2020, and valid till December 31, 2023. Workers at Bosch will be obtaining a hike of about Rs 20,300-23,000 by the finish of 2023 to take their wages to Rs 60,000-80,000 levels, based on the quantity of years with the enterprise.
Negotiations have been going on involving the management and the union at the Bosch plant at Chakan in Pune for the final 18 months. Manoj Patil, common secretary of the Bosch Employees Union and Shramik Ekta Mahasangh, stated: “With this agreement, we have worked out a new formula which fixes lower and upper limit of annual wage hikes and this will benefit the company as well as the workers,” he stated.
With this agreement, the enterprise has clarity on its labour price although workers get some protection from inflation. As per the agreement, even if the inflation rise is much less than 8%, there will be a salary hike of 8%, but if inflation rose a lot more than 10% per annum, the hike will be capped at 10%. It will be primarily based on the actual inflation if it is involving 8-10%. There are about 190 permanent workers who would advantage from this agreement.
With this agreement, Bosch will be portion of the MNCs in the region such as Sandvik, JCB, Alfa Laval Volkswagen, Mercedes-Benz and John Deere which have traditionally paid larger wages with Thermax amongst the couple of Indian providers in this league of great paymasters. However, versatile workers now account for about 60-80% of the workforce in the Pune industrial belt and they do not advantage from these wage agreements.
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