Tata Steel Announces Annual Bonus For 20,000+ Employees
Tata Steel Jamshedpur Announces Rs.317.51 crore Annual bonus for 23,710 Employees.The Tata Steel management and Tata Workers Union signed a Memorandum of Settlement on Friday, September 9, 2022 for payment of Annual Bonus for the accounting year 2021-22.
The memorandum was signed by T V Narendran, CEO & Managing Director, Tata Steel and Sanjeev Choudhary, President, Tata Workers` Union.
The company announced an annual bonus of 20 percent for the year 2021-22 compared to 16 Percent during the previous year.The bonus amount has been increased by around 47.23 crore as compared to last year.Last year, Rs 270.28 crores bonus was disbursed by Tata Steel for its eligible employees for the year 2020-21.
The minimum and maximum annual bonus payable for 2021-22 will be Rs 41,448 plus Rs 20,000 and Rs 4,58,41plus Rs 20,000 respectively.The bonus amount will be credited to employees’ bank accounts by September 15.
According to Union officials the bonus amount will be credited to employees bank account by 15 September, 2022.
Total number of employees to whom the bonus will be paid in Jamshedpur including Tubes is 12,213 while total of 23,710 employees of the company from all locations will be benefitted.
