Mail News Service
Jamshedpur, Aug 22: A bonus agreement was signed between Timken Company and Timken Workers Union at Beldih Club on Sunday late evening. As per the agreement, the employees would get 19.75 per cent annual bonus this year. Last year, they had got 15.64 per cent bonus.
According to Vijay Yadav, the union general secretary, “The employees would also get smart watch in gift this year. Both officers and non-officers would get the gift.”
Sources said the maximum bonus amount this year would be Rs 1.15 lakh and the minimum bonus would be Rs 76,000. The bonus agreement is based on the basis of old formula.
Last year, the employees had got Rs 87,488 as maximum bonus and Rs 40024 as minimum bonus.
The bonus agreement was signed by Plant GM Rajeev Saraswat, Dinesh Singh, Himanshu Mishra, Akash Dubey on behalf of the company management. The union was represented by Vijay Yadav and all office-bearers of the union except president Astik Mahato. As many as 212 employees would get the benefit of bonus agreement.