19.5 % bonus at Tata Cummins Jamshedpur plant

Jamshedpur, October 13: 19.5 percent bonus was signed  at Tata Cummins on Thursday night under the fixed formula.

Under the agreement, employees will get a maximum bonus of Rs 1,30,241 and a minimum of Rs 64,312 and an average bonus of Rs 1 lakh 5 thousand 448.

Rs 8 crore 35 lakh will be distributed among the total 790 employees of the company. The bonus amount will be sent to the employees’ accounts on Friday itself.

The bonus formula is the same as last year.

In all 1,58,317 engines have been manufactured. The target was to manufacture 1,61,064 engines for Tata Cummins (TCPL) in the financial year 2022-23. A target has been set to manufacture one lakh 66 thousand 501 engines in the financial year 2023-24.

There will be an agreement on this formula till 2026. The formula for bonus in Tata Cummins for the year 2022 will continue in future also. The union will make a bonus agreement on the old formula only till 2026. In Tata Cummins, the bonus formula is fixed at nine points, profit at eight and BIS at three points. In which 1.5 percent is fixed.

Last year, they got an 18.5 percent bonus. Under the agreement, the employees got a minimum of Rs 38,519 and a maximum of Rs 99,880, with an average of Rs 75,843. A bonus amount of Rs 6.1 crore was distributed among 793 employees of the company.