Jamshedpur, Sep 20: Tata Steel Utilities and Infrastructure Services Limited (TSUISL) signed a Bipartite Agreement with the Tata Steel Utilities and Services Shramik Union on Saturday for the payment of annual bonus for the financial year 2024-25. The agreement was signed by Ritu Raj Sinha, Managing Director of Tata Steel UISL, and Raghunath Pandey, President of the Union, in the presence of senior company officials and union office bearers.
The bonus entitlement was calculated on the basis of the company’s performance across multiple parameters. These included profit before tax, safety standards, grievance redressal, customer satisfaction, productivity, and reductions in transmission, distribution, and water losses. Good performance on these counts helped the company meet its strategic goals.
As per the agreed bonus chart, the payout for FY 2024-25 was initially calculated at Rs. 6.27 crore. However, in recognition of employees’ contributions in areas such as Swachh Survekshan, digital initiatives, and cost reduction measures, the management decided to increase the bonus amount to Rs. 6.676 crore.
The annual bonus will be distributed in the coming days to 671 eligible employees. The disbursement ahead of the festive season is expected to bring cheer to workers and their families.
