The new wage agreement was signed with workers at its main plant in Pune at Mundhwa. The new wage agreement will be effective from July 1, 2019, and to June 30, 2022.
Bharat Forge has signed a three-year wage agreement giving workers a hike ranging from Rs 14,500 to Rs 15,600 per month. Following this, the average wage levels at Bharat Forge will now be in the range of Rs 45,000 to Rs 80,000 per month.
The new wage agreement was signed with workers at its main plant in Pune at Mundhwa. The new wage agreement will be effective from July 1, 2019, and to June 30, 2022. The new wage agreement will benefit 1,331 permanent workers who are part of the Bharat Forge Kamgar Sangh union at the Mundhwa plant.
B N Kalyani, CMD, BFL, spoke to the workers after the agreement and told them the company would grow and its future prospects were good with forays into defence and aerospace segments. He wanted workers to focus in skill upgradation and get trained in Industry 4.0 and become future ready.
Santosh Sable, general secretary of the Bharat Forge Kamgar Sangh Mundhwa, said there was a delay of 19 months in signing the wage agreement with the pandemic coming in the way but they were satisfied with this agreement that has given workers a good hike and a host of other benefits which are not offered by any other company in the region. The uncertainty caused by the pandemic and lockdowns has receded and production was in full swing. which was reassuring for the workers, Sable said.
In the new agreement, the company has increased health policy cover from Rs 1,50,000 to Rs 2,00,000, offered highly subisized canteen food, a special five month gratuity, scholarships, wedding allowances, increase in death benefit and 85% wages to workers who meet with accident at work and are incapacitated, Sable said. In return, workers have to upgrade themselves and participate in training provided by the company in areas of in digital manufacturing, Industry 4.0, AI and other emerging areas, he said.