IndiaCatalog.com
India News
Search Web Directory
News Home
Ashok Leyland signs bonus pact with union
Posted on 14th September 2019
Hinduja group flagship Ashok Leyland (ALL) on Friday announced that it has signed a memorandum of understanding with Ashok Leyland Employees Union (ALEU), the recognised union, for an ex-gratia/bonus amount of Rs 1.75 lakh for the unionised category of employees at its Ennore plant (the mother plant) for the year 2018-19 (April 2018 to March 2019).

In a notice to employees, the company said that the payment would be pro-rated to the actual attendance and earnings thereof during the financial year of 2018-19. However, loss of earnings on account of permission/late in/early out and industrial accidents during the course of employment shall be excluded. The company further said that all applicable deduction/dues like income tax as applicable, insurance premium including excess premium paid by the company for the employees to the insurance company in 2018, credit society loans, bank loans, any other advances in the name of eligible employees and other deductions, if any, will be recovered from the Bonus amount.

The above mentioned payment will be made on September 16 (Monday) through bank transfers. The company also said that the ex-gratia/bonus will not be paid to all the trainees and apprecentices, employees who have been found guilty and dismissed for misconducts enumerated under Section 9 of the Payment of Bonus Act, where an employee has been found guilty of misconduct causing financial loss to the company, the amount of loss shall be deducted from the ex-gratia/bonus payable, the notice further said.

It may be recalled that the workers’ union has been demanding 7% of the profit made last fiscal, but the management was adamant at 5% or 5.5%. The current bonus/ex-gratia is worked out to be around 5.42%, union sources said. All the 6,146 employees are expected to be benefited by this bonus, the union official then said.

The bonus announcement came in amidst ongoing production holidays the company had announced last week. With uncertainty looming large over the early demand revival in the CV sector as well as to avoid any inventory pile-up due to ensuing BS VI norms, ALL has extended its production holidays beyond Chennai plant to all other plants across the country for a large number of days.

After absorbing close to two weeks at its Chennai plant in the last few days, the company on Monday announced that it will absorb production holidays at its plants including Chennai (Ennore), Hosur, Pant Nagar, Alwar, Bhandara in September. The company said that due to continued weak demand, it has been decided to absorb production holidays across plants.

Except Hosur (1,2 and CPPS) for 5 days, the company has decided to go for a minimum of 10 days production cut across all other plants. A maximum of 18 days production cut will be absorbed at its Pant Nagar plant in Uttarkhand, followed by 16 days at its Ennore plant (Chennai). In the other two plants of Alwar and Bhandara, the company decided to cut 10 days of production during the month, the firm informed the stock exchanges.

Related Companies: Ashok Leyland Limited   

Other Latest News
'Be more careful in future': SC closes contempt plea against Rahul Gandhi over 'chowkidar chor hai' remark
Posted on 14th November 2019
In a relief for Rahul Gandhi, the Supreme Court on Thursday closed a contempt plea filed by BJP MP Meenakshi Lekhi against the former Congress chief for wrongly attributing to the court his "chowkidar chor hai' slogan against Prime Minister Narendra Modi in the Rafale case.

The Supreme Court said, "Mr Rahul Gandhi needs to be more careful in future," for attributing to the court his remarks.


Schools shut today, tomorrow as air quality deteriorates in Delhi
Posted on 14th November 2019
The schools in the national capital will be closed on Thursday and Friday, the Delhi government announced on Wednesday.

The city’s air quality reached the higher end of the ‘severe’ category on Wednesday, even as the Centre’s Task Force, meant to advise on implementing the Graded Response Action Plan, recommended that schools be shut and industrial activities be curbed till November 15.


VST Industries hits new peak after Radhakishan Damani buys shares
Posted on 14th November 2019
Shares of VST Industries jumped up to 7.5 per cent to hit a new high of Rs 4,600 apiece on the BSE on Thursday, a day after Radhakishan Damani bought 2,70,000 shares at Rs 4,259.99 apiece on the BSE, according to bulk deal data. The data also showed HDFC Mutual Fund sold 273,706 shares at Rs 4,260 apiece.

At 10:53 am, the stock was trading at Rs 4,573.70, up nearly 7 per cent. In comparison, the S&P BSE Sensex was trading flat at 40,182 levels, up just 0.16 per cent.


Women's entry at Sabarimala: Supreme Court refers matter to larger bench
Posted on 14th November 2019
A five-judge bench of the Supreme Court on Thursday referred to a larger bench pleas seeking a review of its 2018 ruling that allowed menstruating women from entering the Sabarimala temple in Kerala.

Chief Justice Ranjan Gogoi, Justice A M Khanwilkar and Indu Malhotra said a larger bench will hear if the court can decide matter of religious practice. Justices R F Nariman and DY Chandrachud gave dissenting opinion.


'No inquiry needed': SC dismisses review petitions against its previous order on Rafale deal
Posted on 14th November 2019
The Supreme Court on Thursday dismissed Rafale review petitions against its December 14, 2018 judgement, after it was found to be without any merit.

The Supreme Court was due to deliver the verdict on the review petitions against its earlier judgment dismissing any corruption in the deal to purchase 36 Rafale fighter jets from a French company.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Ashok Leyland signs bonus pact with union
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Ashok Leyland signs bonus pact with union

Most Read News

Ayodhya verdict shouldn't be seen as victory for any side: Left parties

Govt gives sugar mills time till Dec 31 to export last year's balance quota

Reliance Industries puts off gas bid for the second time to November 15

Jindal Steel & Power hits over 4-month high, zooms 60% in one month

Moody's cuts India outlook to negative, predicts 'prolonged slower growth'

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement