Jamshedpur, October 1: Loss-making Tata Robins Fraser (TRF) had its bonus agreement signed on Friday.
TRF, a subsidiary of Tata Steel has been making losses for the last 10 years and as per the agreement an 8.33 per cent bonus will be given for the financial year 2020-21 as per the rules set by the government.
The bonus agreement was signed between TRF Management and TRF Labor Union. Under the agreement, 218 employees working in the company will get a minimum bonus of Rs 9048 and a maximum bonus of Rs 14,864. The union leadership believes that despite the adverse circumstances, the company has reached a better agreement this year. The company management will send the bonus money to the employees in their bank accounts in a week.
TRF MD Alok Krishna, CFO N. S Radhu, CHRO M Q Tauhid, AGM (Pand A) Arbind Kumar signed on behalf of the company management while workers union president Rakeshwar Pandey, secretary M H Hiramanek, deputy president R B Rai, vice-president Sanjay Kumar signed on behalf of the union.
Tata Robins Fraser, a subsidiary of Tata Steel, deals in fabrication. Tata Steel Management has also changed the officers of the company and sent new officers so that the financial position of the company can be improved. Due to the loss of the company, the salary settlement of all the employees working here has also not been done for the last five years. The company employees are afraid that their company may be closed, so the employees are not demanding salary settlement, because the financial burden on the company will also increase due to the salary settlement.