NATIONAL IRON AND STEEL CO. LTD. vs THEIR WORKMEN

The Supreme Court held that the Industrial Tribunal has the jurisdiction to vary incentive bonus schemes and production targets once such a scheme is introduced, as per the principles of industrial adjudication. The Court emphasized that while the management decides to introduce a scheme, the Tribunal must ensure that the targets are realistic and not excessively high or low. Additionally, it was established that piece-rate workmen are entitled to higher rates for excess production, provided that disparities with time-rate workers are minimized. The appeal was dismissed, affirming the Tribunal's award.