AGREEMENT / SETTLEMENT BETWEEN UNION OF ASSOCIATED INDUSTRIES LIMITED - 2001
The Employees Union Associated Industries Ltd. Nowshere (C.B.A) has served upon the Management of the factory a Demand Notice for Bonus bearing No. AIL/EU/53 dated 27th July 2001. The issue was discussed between the Union and the Management.
It was mutually agreed to pay an ex-gratia equivalent to 5 (five) months and 20 (Twenty) days (Basic salary + COLA) to all permanent employees of the company who were on the pay roll of the company on 30th June 2001. Except Management staff (Officers) This ex-gratia payment is for the year ending 30th June 2001.
All eligible employees with less than one-year service as on 30-06-2001 shall receive ex-gratia payment on pro-rata basis and calculations in all such cases shall be made strictly, according to procedure. Leave without pay for upto 40 (forty) days would be condoned for this purpose and cost of living allowance would be added to basic salary drawn by illegible employees on 30th June, 2001, for the purpose of calculation of the amount payable to each employee.
Employees who wish to pay up advance outstanding against their names are Welcome to exercise their option to do so.
The Management has, as a very special case, decided for this occasion only, that the above ex-gratia payment will also be made to all those employees who died or retired from the service of the company.
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