Hyundai Motor India Limited (HMIL) today announced the successful completion of its long term wage settlement with their recognized union, the UUHE (United Union of Hyundai employees). The three year wage settlement will be implemented with retrospective effect from April 2015 and will remain effective until March 2018.
As per the agreement technicians will receive an average salary increase of Rs.19,000/- per monthspread over three years. Technicians will receive 50 percent of the increased salary in the first year and 25 percent each in the remaining two years. This would mean a salary raise of Rs.9500/- a month will be given in the first year and Rs. 4750/- a month in the second and third year respectively.