Jamshedpur, Tubes Staff to Share ₹163.85 Crore in Bonus
Key Points:
- Tata Steel Employees To Get 18.68 Percent Bonus On September 11
- Jamshedpur, Tubes Staff To Share ₹163.85 Crore Among 11,021
- OS Category Bonus Capped At ₹4.52 Lakh, NS At ₹1.28 Lakh
JAMSHEDPUR – Tata Steel employees are set to receive an 18.68 percent bonus this year, with the payment scheduled to reach bank accounts on September 11 following an agreement between management and the union.
The picture has become clearer following the bonus settlement at Tata Steel, with the company set to distribute a total of ₹315 crore among 25,603 eligible employees. The Jamshedpur and Tubes divisions account for a sizeable share of this payout, with 11,021 employees eligible for bonuses across the two units.
These employees have been allocated ₹163.85 crore, with the average bonus expected to reach around ₹1.48 lakh. However, the actual amount will vary from employee to employee depending on category and attendance.
In the OS category, the maximum bonus works out to ₹4,52,512 based on actual attendance, while the NS category tops out at ₹1,28,448. On the other hand, NS category employees with full attendance will receive the minimum bonus, fixed at ₹39,016.
Meanwhile, a separate agreement confirmed that Tata Steel employees across the company will receive an 18.68 percent bonus this year. The payment will be calculated on the old basic pay and dearness allowance structure, following discussions between management and the union.
Besides the calculation formula, the bonus amount will be credited directly to employees’ bank accounts on September 11. In addition, the timing brings relief for employees ahead of the festival season.
According to a source familiar with the negotiations, the settlement carries added weight after a recent wage agreement had drawn discontent among some workers. “It has raised hope among employees ahead of the festive season,” the source said.
Moreover, the bonus settlement follows a lengthy round of discussions between management and the union, held separately from the wage revision dispute before both sides reached consensus. The management described employees’ contributions as important to the company’s performance, according to sources close to the process.
The bonus amount will be released as part of a fixed process, with employees now awaiting the payment date.
