Sanand: The long-term wage settlement (LTS) between the Tata Motors Sanand Union and Tata Motors was amicably agreed upon and has been signed today for a period of 5 years, w.e.f October 2015 to September 2020, said a statement issued by Tata Motors today.

‘The total wage package allotted is Rs. 16,000/- and will be spread across the LTS term uniformly. In addition to the amount, the company has also introduced a performance linked payment, which is accounted as 10% of total salary and will be linked to productivity, quality & safety. This new measurement of performance has been well received by workmen. The Annual Bonus linked to performance covering all permanent workers was also agreed upon,’ the statement said.

The statement further reads, ‘additionally, other benefits like Transport and Canteen facilities and various other facilities, like rationalization of leave rules and block closure days up to 24 days per year were mutually agreed.’

DeshGujarat