JAMSHEDPUR, Aug 28: Tata Steel has announced a total annual bonus payout of Rs 303.13 crore for the financial year 2024-25, following the signing of a memorandum of settlement with the Tata Workers’ Union (TWU) in Jamshedpur. Of this amount, Rs 152.44 crore will be distributed among 11,446 employees in Jamshedpur divisions, including the tubes division.The agreement, signed in the presence of Jharkhand Deputy Labour Commissioner Arvind Kumar, specifies that the minimum and maximum bonus payable per employee will range from Rs 39,004 (full attendance) to Rs 3,92,213 (based on actual attendance).
Although most employees earn above the eligibility threshold set under the Payment of Bonus (Amendment) Act, 2015, Tata Steel will still provide bonuses to all unionised workers, continuing a longstanding company tradition.(PTI)
