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Wage hike News

22 Jul 2020

Bank unions, IBA agree on 15% annual wage hike; 8.5 lakh staff set to benefit

Under the agreement reached, Performance Linked Incentive will also be introduced for public sector bank staff and it will be based on the net profit of individual banks concerned Close to 37 banks, including public, private and foreign banks, have mandated the IBA to negotiate with unions on wage hikes for their employees PLI will be applicable for public sector banks from the current fiscal, while it will be optional for private and foreign banks

12 Dec 2016

EPFO likely to hike monthly wage ceiling to Rs 25,000 on December 19

Retirement fund body EPFO is likely to approve a proposal to hike wage ceiling for coverage under its social security schemes to Rs 25,000 per month from the existing Rs 15,000 on December 19.

Barclays Report

08 Jul 2014

Rupee appreciation, wage hike may impact margins of IT players: Barclays

"Margins are expected to be negatively impacted due to rupee appreciation (100bps impact) and also by wage hikes at TCS, Infosys and Wipro," Barclays said.

16 Jun 2014

IMF cuts US forecast; urges wage hike and job creation

The International Monetary Fund on Monday slashed its forecast for the United States and urged policymakers to keep interest rates low and raise the minimum wage to strengthen growth.

12 Jun 2014

New Steel Minister okays wage revision in SAIL, 85K to benefit

Steel Minister Narendra Singh Tomar approved a 17 percent hike in basic and dearness allowances and 6 percent rise in perks for the company's non-executive employees.

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