Tata Steel Downstream Product Ltd. Settles Bonus Agreement with Union

Agreement reached in Kolkata on a 18.38% bonus for 568 employees at Tata Steel Downstream.

Key Points:

– 18.38% bonus agreed for Tata Steel employees.

– Jamshedpur to benefit 300 employees from the bonus scheme.

– ₹3.74 crore to be distributed as bonus on September 20.

JAMSHEDPUR – Tata Steel Downstream Product Ltd. finalized an agreement with its union for an 18.38% bonus distribution, benefiting 568 employees.

During negotiations held at the company’s Kolkata office, both management and the union agreed to this bonus, with 300 employees from Jamshedpur receiving their share.

Employees will receive a minimum bonus of ₹42,073 and a maximum of ₹1,11,634.

The total bonus payout amounts to ₹3.74 crore, which will be distributed on September 20.

Union president Rakeshwar Pandey urged employees to utilize their bonus wisely, especially for their families’ benefit.

Meanwhile, Karan Lakhani from management introduced a Medical Separation Scheme, which the union and management discussed and agreed to implement soon.

The union has been consistently advocating for a scheme to assist medically unfit employees.

Both sides signed the agreement, including Managing Director Sandeep Kumar, Vice President Avinash Mehta, and union leaders.