Hyundai Motor India Limited (HMIL), nation’s second largest car maker, today announced the successful completion of its wage settlement negotiations with the United Union of Hyundai Employees (UUHE). The three year wage settlement with UUHE will be from April 1, 2012 and remain effective until 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% of the wage increase in the first year and 30% in the next two years.