India. RINL unions flay move to cut contribution to pension fund
Various staff unions of the Rashtriya Ispat Nigam Limited (RINL) on Wednesday criticised the management’s move to contribute just two percent towards the pension fund for the non-executive employees.
‘Agreement violated’
In a memorandum to RINL Chairman-cum-Managing Director P. Raychaudhury on Wednesday, the unions including the recognised ones said the move was in contrary with the terms of the National Joint Committee on Steel Agreement reached in July 2014 wherein it was decided to contribute six percent of salary by the management towards its contribution.
Unions operating in Visakhapatnam Steel Plant urged the management to drop the proposal and desist from getting approval in the board meeting being held here on Thursday.
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