TRF Company finalizes bonus agreement for FY 2023-24, benefiting 182 workers
Key Points:
• TRF Company agrees to 17.22% bonus for FY 2023-24
• Maximum payout: Rs 1,17,079; Minimum: Rs 36,179
• Bonus to be deposited in employee accounts on September 18
JAMSHEDPUR – TRF Company has reached a new bonus agreement with its labor union, offering a 17.22% bonus to employees for the 2023-24 financial year.
The agreement, finalized on Friday, marks a significant improvement from previous years.
In contrast, the 2015 Bonus Act set lower limits, with a minimum of Rs 15,262 and a maximum of Rs 20,613.
However, the company’s financial recovery has enabled a more generous payout this year.
Moreover, the maximum bonus amount has been set at Rs 1,17,079, while the minimum stands at Rs 36,179.
Furthermore, a total of 182 employees will benefit from this new arrangement.
On the other hand, the bonus will be credited to workers’ bank accounts on September 18.
The signing ceremony saw attendance from both management and union representatives.
Meanwhile, key figures from the management side included Managing Director Umesh Kumar Singh and CFO Anand Chand.
Additionally, CHRO Abhijeet Singh and GM Manufacturing VK Singh were present at the event.
In addition, union representatives included President Rakeshwar Pandey and Vice President Baby Kumari.
Besides, General Secretary Anjani Kumar and Assistant Secretary Naveen Kumar participated in the proceedings.
