Friday, December 1, 2023

Tata Steel employees to get July salary along with IB

Jamshedpur: Tata Steel employees will receive July salary along with an incentive bonus. Incentive bonus (IB) payments were discontinued from April 2020 due to the odd situation caused by Covid. On the initiative of Union President R Ravi Prasad, the management has said to pay IB in August as per the existing norms along with July salary. Departments in which the IB plans are freezed based on actual calculations from April 2020 to June 2020 will be made in September 2020 with the salary of August 2020 as per the existing norms. Union Assistant Secretary Nitesh Raj said that the union’s achievement in getting employees IB in such a difficult situation where the increment of officers is banned in the adverse situation arising out of Covid is a welcome move.

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