CIRCULAR 09.08.2010.
Friends,
On 09.08.10, one more LTS meeting is held at Waltair Park by GM IR and Director HR. In this meeting they once again requested us to decide what the wage periodicity should be - for 5 yrs or 10 yrs. Both the unions explained that they had submitted Charter of Demands for 5 yrs only and in several PSUs, good LTS packages are given for 5yrs only and hence our wage periodicity should also be 5 yrs only. The Director said, since IOC, a major player in Oil Sector, already made a 10 yrs. agreement, it may not be possible for us to go for a 5yrs. settlement. However, in Oil sector, if any 5yrs. settlements are made in near future, only then he may consider such possibility, he said.
Another point that is brought for discussion is – LTS Co-terminus with MR & Marketing. If it is agreed up on, our present LTS due date of 01.07.2007 would be shifted back by 15 months to 01.10.2008, in line with MR & Mktg. However, mgmt. did not propose any lump sum package for the 15 months period in this meeting.
Bonus / prodn. Incentive would be paid as Adhoc Adjustable Amount with August salary, just like last year, he said.
Once again “RW-3 basic” issue was brought for discussion, and the Director expressed hope that the same may be brought inline with IOC’s Diploma entry level basic.
with regards,
HPCL EMPLOYEES UNION.
with regards,
HPCL EMPLOYEES UNION.
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