Tata Steel Colors Jamshedpur finalizes 19.81% bonus agreement, max payout Rs 81,606

Mail News Service

Jamshedpur, Sep 28: In a significant development for its workforce, Tata Steel Colors has reached a bonus agreement that guarantees employees a 19.81% bonus for the current year. The announcement was made on Friday, detailing that a total of Rs 61,71,591 will be shared among 102 employees of the company.

Under this new agreement, employees will receive a minimum bonus of Rs 35,167, with some eligible for a maximum of Rs 81,606. The average bonus payout will be around Rs 55,560, providing a substantial financial boost for the staff. The bonus will be credited directly to employees’ bank accounts alongside their regular salaries.

The bonus distribution is categorized based on various performance metrics, including Rs 24,25,114 allocated under the Productivity item. Additional amounts include Rs 9,34,676 each for MCL and CCL Capacity Utilization, Rs 5,99,735 for MCL Prime Yield, Rs 6,54,273 for CCL Prime Yield, and Rs 6,23,117 for Safety initiatives.

The bonus agreement was finalized by key management figures, including Managing Director Anoop Trivedi, CHRO Neena Bahadur, and Plant Head Indranil Vishwas. They signed the agreement alongside union representatives, led by President Rakeshwar Pandey, demonstrating a collaborative effort between management and employees to acknowledge their hard work and contribution to the company’s success.