Linde India, an industrial gases company, and the Indian Oxygen Workers Union have finalised a new salary agreement. The agreement introduces significant improvements in employee compensation and benefits. The agreement will be in effect for 3.5 years.
As part of this agreement, employees will receive a monthly gross salary increase of Rs 5,800, along with two increments in their basic pay. The leave travel allowance has been raised from Rs 21,000 to Rs 27,000. In cases of death during service, employees’ families will be entitled to compensation equivalent to 48 months of gratuity pay.
The retirement benefits for employees have been enhanced, increasing from Rs 4,000 to Rs 5,000 per year of service. Additionally, the company will expand medi-claim coverage to Rs 3,00,000, covering employees, their spouses and two children. Furthermore, older parents of employees will receive unlimited medical coverage, and a new provision for domestic medi-claim coverage of Rs 15,000 has been introduced.
The agreement also includes an annual allocation of Rs 45,000 for medi-claim policies for retired employees.
The signing of the agreement involved representatives from both Linde India and the union, reflecting a mutual commitment to enhancing workforce welfare and support.
