Tata Steel Jamshedpur: 20 % bonus at JCAPCPL

Jamshedpur, September 21: Annual bonus agreement has been reached in JCAPCPL company, a joint venture between Tata Steel and Japanese company Nippon Steel.

This year employees will get 20 percent bonus. Under this, a total of 145 employees will be given Rs 55160 as bonus.

This will be spent in the bonus fund of 82 lakh employees tomorrow.

Those who signed on the agreement included  JCAPCPL MD Ujjwal Chakraborty, Union President R Ravi Prasad, Shahnawaz Alam, Jitendra Kumar, CHRO Ajay Singh, CFO Pranay Jha, Krishna Mohan, Amit Sharma, Chiranjeevi from the union, Thangaraj, Vikal Mahendra.

The bonus amount will be transferred to the employees’ accounts by September 30. Contribution for annual bonus will be @ 0.35% of profit after tax.

In FY 2023, the company achieved the highest productivity of 4327 tonnes per capita. On the safety front, our performance for FY23 continued to be good with 0 LTIFR. The annual bonus for FY 2022-2023 has been finalized at Rs 55,155 and has been rounded off to Rs 55160 and will be paid to all employees (technicians and crane operators) covered under this agreement, which is 20%.

Such employees (technicians and crane operators) who have not served the company for the entire financial year will receive an annual bonus based on their attendance for the said financial year.

Ujjal Chakraborti, Managing Director of JCAPCPL, expressed his gratitude and said, “Good Company is known by a good team. Our employees are the heart of our organization, and their hard work deserves recognition. This bonus reflects our commitment to their well-being and is a testament to the strong partnership between management and our dedicated workforce.”

R Ravi Prasad, President JCAPCPL Workers Union, shared his thoughts, saying, “We appreciate the company’s understanding of the contribution our employees make. This bonus is a step in the right direction towards fostering a positive work environment.”
The annual bonus is calculated at 0.35% of our annual profit, ensuring a fair and equitable distribution among all eligible employees. Each employee will receive a substantial bonus amount of rupees 55,160. The bonus amount will be credited to employees’ bank accounts by the end of September 2023.

During the signing of the bonus agreement the people present from the JCAPCPL Workers Union were, Shahnawaz Alam (Working President), Amit Kumar Sharma (Vice President),  Krishna Mohan Singh (Vice President), B Jitendra Kumar (General Secretary) and Ravi Kumar (Treasurer). On behalf of JCAPCPL the prominent members present were Pranav Kumar Jha (CFO), Ajay Kumar Singh (CHRO), Ajay Gupta (GM, MS, PPSD & IT), Kirit B Daxini (DGM, EHS & Maintenance], Vikal Mahendra (AGM, Operations), P Thangaraj (Assistant General Manager, AE & QA) and Tauseef Eqbal (Assistant Divisional Manager, HRM & Admin).

JCAPCPL is committed to nurturing a culture of appreciation and fairness, and this bonus is just one of the many ways we demonstrate our gratitude to our dedicated workforce.