Memorandum Of Settlement Under Section 12(3) Of The Industrial Disputes Act, 1947 Reached Between The Management Of………………………………… And Their Workmen Represented By………………. 605 Legal Draft Template

PARTIES TO THE SETTLEMENT:

The Management received letter dated……… from the General Secretary of ………….., in his letter dated: …………… and submitted a list of demand including revision, of wages D.A., H.R.A., Casual Leave, National Festival Holidays. As such various issues raised by the union were first discussed in the joint meeting at the factory level and was then admitted into conciliation on …………………….by the Labour Department. Since then, the conciliation meetings were held on ……………… and finally on …………….. in the conciliation meeting held finally on ……………………..and of various alternative suggestions made by the conciliation officer, both the parties agreed to resolve the differences amicably and further agreed to sign a memorandum of settlement under section 12(3) of Industrial Disputes Act, 1947 on the following terms and conditions.

1. By the previous memorandum of settlement under …….. of I.D. Act, 1947 signed on……………….. the permanent workmen were entitled to an interim Relief of Rs. ……/- per month as oil tile expiry of that agreement. Both parties have agreed that the period of payment of Interim relief be extended so long as the present memorandum of settlement is in force.

2. The Management has agreed to increase with effect from………………. the emoluments of permanent workmen in all categories by a sum of Rs…../- that is Rs.20/- in basic wages and Rs……./- in fixed dearness allowance. For clarity, a permanent worker, whose basic monthly wage is Rs. …..……../- plus Rs. …../- F.D.A. as on …………… will…………….. from……………. receive Rs……/- basic plus Rs……./- fixed dearness allowance.

A further increase of Rs. …../- in F.D.A. will be granted from ……………….to all categories of permanent workmen. Therefore. the revised wages and Dearness allowance will be as mentioned below against each category.

3. Variable Dearness Allowance linked with the Consumer Price Index will continue as per the conditions in the previous memorandum of settlement signed on……………

4. The permanent workmen will be entitled to a total of ……. (….) paid Festival Holidays, which includes three (3) National Holidays with effect from the Calendar year…………… This will include all such holidays declared by government authorities from time to time.

5. Attendance Bonus will continue as per the previous agreement signed on……………….

6. All workers, who work overtime throughout the third shift (………Timing) will be paid overtime wages calculated for …… hours working.

7. It is agreed that there is no further dispute now pending between the parties and all demands have been withdrawn. The workmen have agreed to extend co-operation to the management and shall not resort to any action likely to harm production or discipline in the factory and shall strive to increase the productivity and maintain industrial peace.

8. This agreement shall come into operation from…………….. for a period of ……. years and the workmen shall not raise any further demands involving financial implications or burden on the Management during the period of this agreement and continue to be binding on the parties.