Tata Steel employees to get 18.5 pc bonus
Jameshdpur: Tata steel today announced 18.5 per cent annual bonus for the accounting year 2008-09 following several rounds of talk between the
company management and tata workers union.
The annual bonus will be paid at 18.5 per cent of salary/wages (basic + DA) paid for the year 2008-2009 taking into account the amount of salary/wages (basic + DA) of arrears of wage revision paid/payable, as the case may be, for the accounting year 2008-09, according to a company press release here.
An ex-gratia amount is also being paid for the arrears of wages/ salary (basic + DA) of wage revision during the period 01-01-2007 to 31-03-2008 at 8.33 per cent of arrears of wages/ salary (basic + DA ) paid/payable for the aforementioned period.
At 18.5 per cent bonus for 2008-09 and 8.33 per cent ex-gratia on arrears the minimum and the maximum annual bonus payable will be Rs 21,486/- and Rs 1,00,845/- respectively for employees of Jamshedpur.
The total payout on account of annual bonus, as per above, for employees of Jamshedpur (including tubes) will be Rs 81 crore approximately. Nearly 16500 employees would be paid annual bonus this year.
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