Hyundai Motor India Limited (HMIL) has inked a wage settlement with the United Union of Hyundai Employees (UUHE).

The three-year wage settlement with UUHE will be from April 1, 2012, and remain effective until March 31, 2015.

“The wage increase ranges from Rs.11,000 to Rs.13,000, excluding components such as variable dearness allowances and other welfare benefits,’’ says a company release.  The employees will get 40 per cent of the wage increase in the first year, and 30 per cent in the next two years.

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