Chennai, Oct 18 (IANS) Car manufacturer Hyundai Motor India Ltd (HMIL) Thursday announced that it had successfully completed wage settlement negotiations with United Union of Hyundai Employees (UUHE).
In a statement issued here, the company said the three-year wage settlement with UUHE will run from April 1, 2012 and remain effective till March 31, 2015.
The wage increase ranges from Rs.11,000 to Rs.13,000 excluding components like the variable dearness allowances and other welfare benefits. The employees will get 40 percent of the wage increase in the first year and 30 percent in the next two years.
Hyundai Motor has its 630,000 units-per-annum auto plant at Irrungattukottai near here.