Tata Steel and Subsidiaries Finalize Bonus Agreement

Employees to receive up to ₹3.35 lakh as bonuses this year

Key Points:

– Tinplate employees to get up to ₹1.69 lakh as bonus.

– 237 workers at Tisco Growth Shop to receive ₹2.80 crore.

– Gamharia division to distribute ₹5.70 crore in bonuses.

JAMSHEDPUR – Tata Steel and its affiliated companies signed bonus agreements on Monday, securing significant payouts for their employees.

Several Companies Finalize Bonus Agreements

On Monday, multiple Tata Steel-affiliated companies completed their bonus agreements. These included Tata Steel Marketing and Sales, Raw Materials Division, Tata Steel Kalinganagar, Tata Metaliks Division, Tinplate Division, Tata Steel Growth Shop, Tata Steel Gamharia, Tata Steel Sponge Iron Joda, and Hooghly Met Coke.

By late evening, management and union representatives from these divisions signed the agreements, ensuring all eligible employees would receive their bonuses.

Tinplate Division Employees to Receive 17.89% Bonus

The Tinplate Division, now integrated with Tata Steel, also finalized its bonus agreement on Monday. Employees at this division will receive a bonus of 17.89%, with the maximum payout being ₹1.69 lakh per employee.

A total of ₹4.68 crore will be distributed among 860 employees this year. "The bonus amount is slightly lower than last year due to a reduction in the number of eligible employees," noted Rakeshwar Pandey, President of the union.

Tisco Growth Shop and Gamharia Employees Benefit from Agreements

At the Tisco Growth Shop (TGS) in Gamharia, 237 employees will benefit from a bonus totaling ₹2.80 crore. The maximum bonus here is set at ₹3.35 lakh, while the minimum payout is ₹70,785.

Meanwhile, Tata Steel’s Gamharia division, previously known as Tata Steel Long Products, also concluded its bonus negotiations. The agreement covers 1,103 employees, who will share a total of ₹5.70 crore. The maximum bonus under this agreement is ₹98,000, while the minimum is ₹12,700.

"These agreements reflect our commitment to rewarding the hard work of our employees," said a company official, after the signing ceremony.