Friendship Day [finally!] at Bajaj Auto

John Leonard said “It takes a long time to grow an old friend.” People at Bajaj Auto might think that this is true on their case.
Vishwa Kalyan Kamgar Sanghatana and the Bajaj management have finally settled their differences and hopefully buried their hatchets. They reportedly did it on the anvil of the Friendship day which is celebrated on the first Sunday of August. The declaration of the settlement is made on 14th Aug 2014, just a day before Independence Day. 
Readers will recall earlier blog posts on this blog – Building Employment Relationship at Workplace: Bajaj Auto [Link], Bajaj Auto Strike: Statement of Vishwa Kalyan Kamgar Sanghatana [Link], and Bajaj Auto Scoots to Bigger Showdown [Link]. These blog posts covered the stories and analysed the conflict. 
The parties have now arrived at an amicable agreement. Here are the salient features:
1. Wage rise: Rs 10,000 for those with service more than 5 yrs., Rs 9,500 for those with service more than 3 yrs., and Rs 9,000 for the rest.
2. The 60% of the above amount shall be given in Basic Pay and rest in allowances.
3. The existing Variable Dearness Allowance Scheme will continue. 
4. Canteen services which charged Rs 100 pm will now be free.
5. Transport: The deduction for those availing transport is reduced from Rs 530 to Rs 350.
6. Monthly Attendance Reward Scheme has been introduced and shall be paid @ Rs. 1000/- p.m. for full attendance.
7. The existing Regular Attendance Bonus of Rs. 480/-  is revised and Rs. 240 shall be merged into allowances and rest Rs. 240 has been divided into weekly attendance allowance @ Rs. 60 per week. 
8. The Performance Appraisal process will continue as per the present practice and it will be used for career planning and up-gradation.  However, the same will not be considered for increment / CTC by way of review process.
9. Management and Union agreed to withdraw all the cases related to Chakan factory, filed before the Judiciary / Court, Government Authority against each other, within fifteen days from the date of settlement.  
10. The settlement is valid till 31.March.2016
11. The settlement also defines production/ productivity norms.
It is reliably learnt that the management and Vishwa Kalyan Kamgar Sanghatana have arrived at an understanding on pending disciplinary actions. Very often these pending matters break relationships. The settlement looks comprehensive.
Congratulations to the management of Bajaj Auto and their workers’ union Vishwa Kalyan Kamgar Sanghatana
Does this event means “Achche din aayenge?” Time will decide, but today the mood is positive. And that is good news.