Tata Steel UISL announces Annual Bonus of Rs 6.43 Cr to 706 eligible employees

Tata Steel UISL (formerly Jusco) has announced an annual bonus of Rs. 6.43 cr for the year 2020-21. Bonus would be disbursed soon before the festive season.

Jamshedpur: Tata Steel UISL Management has announced an Annual Bonus amounting to Rs. 6.43 crores to 706 eligible employees for the accounting year 2020-2021.

Bonus entitlement is based on the Company’s performance on various parameters such as PBT, Safety performance, compliance to complaints, Top Box, Transmission & Distribution loss, overall unaccounted for water, customer satisfaction index, repeat complaints, productivity and total productive maintenance, good performance on all of which help the company achieve its strategic goals and objectives.

It may be noted that in the absence of an agreement with the Union on account of the fact that elections have not been held post expiry of the earlier Committee’s tenure, the disbursement of bonus for FY’21 was worked out on the basis of the agreed upon bonus chart for FY’20.

The amount earned on the basis of performance on the bonus parameters came to Rs. 6.281 Crores.

The Management in recognition of the employees’ efforts in ensuring uninterrupted services in the City during the Pandemic as also its standout performance in various areas viz best ever ranking in Swachh Bharat Sarvekshan, highest waste water re-cycling, best ever score in TBEM and best ever annual compost production increased the bonus amount to Rs. 6.43 Crores.

Annual Bonus amount would be disbursed in the coming days to all eligible employees considering the onset of the festive season.