The Government of India has approved the revised pay structure along with perks for officers and revised wages along with allowances for all regular employees of Hindustan Shipyard Limited (HSL).
The management has notified that the revised pay and wages will be credited to the employees’ salary accounts immediately in the current month itself. A 10% fitment in the revised pay for officers and 15% fitment in the revised wages for staff and workmen have been approved with effect from April 2019 and April 2018 respectively.
Chairman and Managing Director Rear Admiral L.V. Sarat Babu on Wednesday stated that due to the dedication and hard work of all employees of HSL, the company was able to post profits for three consecutive years which made it eligible for pay/wage revision as per government guidelines.
As on Wednesday, the yard had achieved four years of continuous operating and net profits after almost 65 years, the CMD said, adding that the arrears of the wage revision undertaken in 2009 but not paid till today had been cleared in full to all retired and serving employees now although it was a legacy liability.
He said they were making efforts to achieve Mini Ratna status for HSL.
