“In case of any failure on the part of our managements to revert on priority basis, we shall have no choice but to observe 2-day complete strike in PSGICs and GIC Re on 27th & 28th July 2022 and any other IR action as warranted, in consonance with the sentiments of masses in JFTU, our constituents and members, in these companies,” said JFTU _ PSGICs
The GIPSA sources pointed out that the CMDs of the five companies are not in a position to decide anything on wage revision of their employees unless DFS approves the plans on quantum of hike of revision
New Delhi:
After observing a “one- day token strike” on 15th July, Joint Forum of Unions and Association of employees & officers in public sector general insurance companies (JFTU _ PSGICs), representing 45,000 workforce, has threatened to go for another “two days complete strike” in PSGICs and GIC Re on 27th & 28th July 2022 to press for their wage revision w.e.f. 1st August 2017 at par with Life Insurance Corporation(LIC).
“It is a matter of record that the strike on 15th July 2022 has been absolute and unprecedented. It is a matter of serious concern that the genuine demand of the workforce has not been accepted even after five years of their waiting patiently and the workforce and their leadership are forced to take such extreme step. We request our managements to introspect and take proactive actions urgently and extend wage revision in these companies at par with LIC without waiting for any further deterioration of industrial relation(IR),” said JFTU in a letter to various authorities in department of financial services(DFS) and GIPSA , the official coordinating agency for four PSU general insurers and GIC Re, on Saturday.
The PSU general re/insurers whose employees are waiting for their wage revision are — Oriental Insurance Company(OIC), National Insurance Company(NIC) New India Assurance Company(NIA0 , United India Insurance Company(UII) and General Insurance Corporation of India.
However, the GIPSA sources pointed out that the CMDs of the five companies are not in a position to decide anything on wage revision of their employees unless DFS approves the quantum of hike of the revision.
“The CMDs have already appraised the DFS about deteriorating industrial relation in the industry on the issue of wage revision but haven’t got any response from them yet,” said the GIPSA sources.
Earlier, the DFS for PSU general insurance industry had approved a wage revision of 7 per cent but without any past arrears or 5 per cent along with two per cent arrears with effect from August 2017 that have been rejected by the unions.
For banking industry, the DFS had approved a hike of 15 per cent with full arrears in 2020, while for LIC, in 2021, it had allowed a 16 per cent hike again with full arrears from 2017.
Industry observers point out that though salary revision with arrears will put a heavy burden on these PSU general insurance companies, out of which three companies, OIC, NIC, and UII are making losses and are operating with less than mandatory solvency margin,, the government has to follow the set practice where there have been always pay parity between PSU banking and insurance industry.
Recently, the government had infused Rs 5000 crore of capital into OIC,NIC and UII.
“In case of any failure on the part of our managements to revert on priority basis, we shall have no choice but to observe 2-day complete strike in PSGICs and GIC Re on 27th & 28th July 2022 and any other IR action as warranted, in consonance with the sentiments of masses in JFTU, our constituents and members, in these companies,” said JFTU _ PSGICs.
That Would be great. Still, if no decision is taken, then indefinite strike has to be done.
बहुत ही अच्छा होगा। फिर भी अगर कोई निर्णय नहीं होता है तो indefinite strike करनी ही होगी।
If GIPSA does not come forward with improved offers at par with LIC PSGI workforce has no option but to observe two days strike followed by indefinite strike. Workforce has shown lots of patience and cooperation but in vain. So from 15th july onwards only Industrial Actions.
No sooner indefinite strike in the general PSUs is called for, such a vast problem like finding a solution to
long-pending wage revision will be found out.
It is also a fact that if arrears (DAs of the State Govt. employees at par with Central Govt. employees) got solved by the intervention of Kolkata High Court, although payment of 31% arrear of DA is heavy enough for a financially weak state government, there should not be any such financial problems for the four non-life General Insurance Companies.
General insurance employees are the most sufferer in the whole insurance industry.
They have to take loss policies by mandate , and when asking for their own remuneration, they are told that they made loss !!
It’s pathetic !!
Agreed
Indefinite strike
I agree with you
If wage revision is the sole solution, then indefinite strike should be carried out but thereafter one should be sure enough that we will get it ? Or there are other solution like going to court to get it, but would it be beneficial for employees?
We’re ready for indefinite strikes..
Have you ever seen an army winning battle when soldiers do not know where to attack, who is enemy, what is the mission?
Government has been putting the PSU General Insurance Companies exactly in the same situation. All welfare schemes, where insurance is needed are done through these companies and almost all of these, meant for social welfare like PMSBY, CROP INSURANCE and various state government insurance schemes Etc.are loss making schemes Then the leader, who stood unanimously only for their own wage revision and never for any other matter, decides that these general insurance companies. are loss making or they don’t have funds and making various excuses, are holding back bread and rights of PSU insurance employees and their families. And irony is that they are holding wages, which belongs to a period, when these companies were earning profit and giving government dividend.
Justice must prevail!
Our government is not even sure whether these companies are part of their social welfare system or just like other profit making companies.
Jai hind!
Vande maataram!
Govt being owner of these companies, their employees should be taken care by it. The interest of employees of these companies including settling their wage revision should satisfy them.
Without Indefinite strike no possibility of WR.
Government should be a model employer.Employees are only asking their due wages for their work done 5 years back.
WHAT A SHAME TO the N D A GOVERNMENT!
Non response of DFS is creating huge callous attitude in Public Sector Insurance Companies who have contributed wholeheartedly during covid 19.
Govt must intervene immediately & settle the pending wage revision
Strukes for Non-settlement of Wage Revision cannot be called by PSGIC Unions at their will, but the Management and Union Govt. have dragged them to do so. If they could promptly settle Wage Revision for Banks & LICI, why not for PSGIC.: instead of putting them in such an ugly and hardship behaviour.