The decision to put off the proposed strike was taken after a four-hour long meeting of union leaders at company's Chakan plant.
"We have decided to defer our proposed strike at Chakan plant by two weeks. We have conveyed our decision to the management," Bajaj Auto employee union President Dilip Pawar told PTI.
Pawar said the decision was taken keeping in view the interest of employees and also grant more time to the management to consider the union's demand.
The union, on April 14, had served a notice with a list of demands, which include allocation of CSR funds for education of employees' children, setting up a museum in the name of company's founder Jamnalal Bajaj within a year and allotment of shares at a discounted price.
However, the management had termed the demand for allocation of funds for tribal development from CSR spend and setting up a museum in founder Jamnalal Bajaj's name as "insane".
The company had rubbished all the demands and said it would ensure that production is not hit if the union makes any attempt to disrupt it.
Bajaj Auto had said it has received a notice from its employee union for stoppage of work from April 28 at its Chakan plant.
The Chakan plant employs over 2,000 workers, including around 900 permanent ones, and produces 1.2 million units of bikes including the Pulsar, Avenger, Ninja and the KTM brands a year.