Hyundai to hike employee salary by Rs 31k per month over 3 years

New Delhi: Hyundai Motor India on Wednesday said it has decided to hike monthly employee compensation by Rs 31,000 effective from April 1, 2024, to March 31, 2027.

The company and United Union of Hyundai Employees (UUHE), the recognised union, have announced the successful conclusion and signing of a mutually beneficial wage settlement agreement for the period 2024–2027, the automaker said in a regulatory filing.

The long-term wage settlement for mostly technician/workmen cadre will be effective from April 1, 2024, to March 31, 2027, it added.

"The package includes an industry-best salary increase of Rs 31,000 per month, structured over a three-year period in the ratio of 55 per cent, 25 per cent, and 20 per cent," Hyundai Motor India said.

In addition to the salary increase, the employee welfare schemes, including initiatives like health coverage and wellness programs, will continue, it added.

"This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports long-term organisational growth," Hyundai Motor India Function Head - People Strategy Youngmyung Park said.

Registered in 2011, the UUHE is the officially recognised representative body for the workforce of Hyundai Motor India Ltd.

As of August 31, 2025, UUHE represents a membership of 1,981 employees (90 per cent of technician/workmen cadre).

Hyundai shares were trading 1.69 per cent up at Rs 2,646 apiece on BSE.