A employee of the company had lost his life during the deadlock when a clash broke out between the two groups of workers last month.

As per the agreement, out of the total 16 workers, who were suspended after the strike started, the management has agreed to revoke the suspension of eight, while one worker will be taken back after one month, Rico Auto Senior Vice-President (HR Corporate) Surinder Singh Chaudhary said.

He said the agitating workers decided late last evening to end the strike.

"Seven workers who indulged in indiscipline will be investigated by State (Haryana) Labour Department and action will be taken accordingly," Singh added.

Chaudhary said incentives and other issues like salary hike will be decided after comparing with those of other leading firms located in and around the Gurgaon-Manesar belt.

Asked about losses suffered by the company, he did not disclose any exact figure but said Rico Auto had been making components worth Rs 1.5 crore per day before the workers went on strike.

The workers went on strike from September 17 demanding, among other things, hike in salary and recognition of their union.