Tata Steel Announces To Offer Annual Bonus Worth Rs 270 Cr To All Eligible Employees
Private metal main Tata Steel can pay a complete of Rs 270.28 crore as an annual bonus for the accounting 12 months 2020-2021 to its eligible workers of all relevant division /items of the corporate, a launch stated.
A Memorandum of Settlement was signed on Wednesday between Tata Steel and the Tata Workers’ Union, for a fee of annual bonus for the accounting 12 months 2020-2021, the discharge issued by the corporate stated.
The whole payout for eligible workers of all relevant divisions/ items of the corporate might be Rs 270.28 crore.
Out of this, numerous divisions at Jamshedpur together with Tubes, a quantity of Rs 158.31 crore might be given. The minimal and most annual bonuses payable might be Rs 34,920 and Rs 3,59,029 respectively.
T V Narendran, CEO & MD, Atrayee Sanyal, VP (HRM) and different senior executives signed on the administration’s behalf whereas Sanjeev Kumar Choudhary, president, Tata Workers Union, Shailesh Kumar Singh, deputy president, Tata Workers’ Union, Satish Kumar Singh, normal secretary, Tata Workers’ Union and different workplace bearers signed on Union’s behalf.
Further, a Memorandum of Agreement has additionally been signed between the metal firm and the Indian National Metal Workers’ Federation (INMWF) and Rashtriya Colliery Mazdoor Sangh (RCMS). The total payout on account of the annual bonus at Coal, Mines and FAMD is Rs 78.04 crore roughly.
Another Memorandum of Settlement was signed on Wednesday between Tata Steel and the Tisco Mazdoor Union. The total payout on account of the annual bonus for the development store is Rs 3.24 crore roughly.
The settlement was signed by Avneesh Gupta, VP (TQM and E&P), Atrayee Sanyal, VP (HRM), and different senior executives signed on the administration’s behalf and Rakeshwar Pandey, president, Tisco Mazdoor Union, Adityapur, Shio Lakhan Singh, normal secretary, Tisco Mazdoor Union and the opposite workplace bearers signed on Union’s behalf.
(PTI)
