Bonus agreement signed with JUSCO Shramik Union for 678 eligible employees
Key Points:
• Annual bonus of Rs 7.91 crore announced for 2023-24
• Agreement signed between management and JUSCO Shramik Union
• 678 eligible employees to receive bonus ahead of festive season
JAMSHEDPUR – Tata Steel UISL has declared an annual bonus of Rs 7.91 crore for the accounting year 2023-2024, benefiting 678 eligible employees.
The annual bonus agreement was inked on September 21, 2024.
Moreover, the settlement was formalized by Mr. Ritu Raj Sinha, MD of Tata Steel UISL, and Mr. Raghunath Pandey, President of JUSCO Shramik Union.
In addition, Mr. Rajesh Prasad, DLC of Jamshedpur, was present during the signing ceremony.
Furthermore, other senior company officials and union representatives also attended the event.
The bonus payout is based on various performance parameters.
These include Profit Before Tax (PBT), safety performance, and complaint resolution.
Additionally, factors like Top Box, Transmission and Distribution loss, and Overall Unaccounted for Water were considered.
Customer Satisfaction Index and repeat complaints also played a role in determining the bonus.
Besides, active participation in SGA activities and productivity were taken into account.
On the other hand, good performance in these areas helps the company achieve its strategic goals.
The bonus will be disbursed in the coming days.
This timely payout is in consideration of the upcoming festive season.
