Jusco announces Rs 6.95 cr annual bonus for 777 employees

Mail News Service

Jamshedpur, Sept 24: An Agreement was signed between Jusco Management and the Jusco Shramik Union, for payment of annual bonus for the accounting year 2018-19 based on the already agreed upon Bonus Chart for 2018-19. The Settlement also contains the Bonus chart for 2019-20 which would determine the payout next year.

As per the agreement, Rs 6.95 crores would be disbursed in the coming days to eligible employees considering the onset of the festive season. As many as 777 employees would be paid annual bonus for the accounting year 2018-19. The settlement was signed by Tarun Daga, MD, JUSCO and Raghunath Pandey, President, Jusco Shramik Union, along with other senior Officials of the Company as also office bearers of the Union.

�Bonus entitlement is based on a pre-decided kitty and the Company�s performance on various parameters such as Profit before taxes (PBT), Safety performance, compliance to complaints, Top Box, Transmission and Distribution loss, overall unaccounted for water, customer satisfaction index, Repeat complaints and Productivity, good performance on all of which, help the Company achieve its Strategic goals and objectives,� said the company spokesperson.

The company spokesperson further said, �For 2019-20, the bonus agreement includes a new parameter viz �performance on TPM� in keeping with the Company�s strategic direction of achieving excellence in TPM.�