Draft of Settlement  before Labour authorities whereby the Employees agree to Accept increase in the salaries and to withdraw their pending Dispute

Representing of Management  :	Representative of Workman :	
1)	1)	
2)	2)	

This settlement is made this day of …………….(Date) between the Company (hereinafter referred to as "Management") and their employees as represented by their authorized representatives.  Shri………………………………... by authority letter dated ……………….. executed by the employees which is enclosed herewith an Annexure A.

Whereas the employees of the management have collectively raised certain demands upon the management.  And whereas the Managements did not concede to the demands and an industrial dispute was raised by the employees which is pending for subjudice before the Labour Court/Industrial Tribunal

In order to maintain harmonious human relations and have finally arrived at a settlement on the following terms & conditions:-

1. The Management has agreed to give ……………….. per cent increase to all the employees who have completed one year of service or to give one special increment in their existing scales.

2. The employees have agreed to withdraw all their disputes/demands pending with Labour authorities/Labour court/Industrial tribunal as settled amicably.

3. The representatives assure to maintain high standard of discipline, efficiently and cooperation on the part of the employees.

4. Is further agreed by the parties to get this settlement registered with the Labour authorities and the employees assure to extend all cooperation for registration of this settlement.

5. This settlement will remain in force for …………..years from the date of settlement and the employees will not raise any demand involving financial obligations.

In witness whereof both the parties have agreed to abide by the above terms and conditions 

Date :…………….

1. ……….................   ……………... 1. For and on behalf of the Management 
2. ………………….   ………………2. Authorised representatives of the employees

Witness: