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ICAI employees call off strike after 20% pay increase
February, 06th 2010

Employees of accounting regulator, the Institute of Chartered Accountants (ICAI), late last night called off their two-day old strike, after the management agreed to their demand for a salary hike.

"The management has given us a 20 per cent hike in January's gross salary, which has been credited to our salary accounts," ICAI Employees' Association Secretary Deepak Kishore told PTI.

Besides 20 per cent hike in January salary, the management has also assured that the the Sixth Pay Commission recommendations would be implemented within 45 days, he said.

Nearly 800 employees had been on strike since February 3 to protest non-payment of salary for January and accused the management of misappropriating funds.

Together with payment of salary, employees were also pressing for a hike, as per the Sixth Pay Commission report.

About 8 lakh students train with the ICAI, which comes under the administrative control of the Ministry of Corporate Affairs, The institute comprises at least 1.5 lakh members.

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