The Joint Forum of Unions (JFTU) and Associations in Public Sector General Insurance Companies nearly 58,000 employees are on strike on Friday.
The employees are demanding wage revision. The companies include Oriental Insurance Company Limited, National Insurance Company Limited, The New India Assurance Company Limited, United India Insurance Company Limited, and General Insurance Corporation of India.
Girish Khurana National Convener said, “With wage settlement pending for the past five years, about 58,000 employees in the government-owned four general insurance and reinsurance companies are striking work on Friday.”
“The wage revision is pending since August 1, 2017. We have been regularly taking this up with the Department of Financial Services (DFS) and the management of the public sector general insurance companies for early wage revision and other aspects,” Khurana added.
The main reason behind the strike is that wage revision is pending since August 1, 2017, in these public sector companies.
The forum is demanding a 15% wage hike along with arrears. This same pay revision that Life Insurance Corporation (LIC) employees received last year.