Jamshedpur: The Bonus agreement for the year 2012 – 13 was signed today between the Management and the Telcon Workers’ Union. The Bonus will be paid at the rate of 13% which is an increase from what was paid last year.
The agreement was signed on behalf of THCM by Ranaveer Sinha, Managing Director, G Sugiyama, Sr. Advisor and Director, S Iino, Sr. Advisor and Director, Jawed Ahmed, VP (Manufacturing & Planning), Dr. Indu Singh, Sr. GM (HR & IR), Alok Singh, GM (Production) and Shahid Ashraf, AGM (HR & IR). The Signatories on behalf of the Union were Ram Chandra, President, J Bhushan, Vice-President, C Majhi, General Secretary, S K Singh, Assistant Secretary and
A Dhar, Treasurer. Other departmental heads of the Company were also present.
The minimum payment will be Rs. 26615/- while the maximum payment will be Rs.37362/-. The Festival Payment has been fixed at Rs.14000/- for employees covered under the Superannuation Fund which is also an increase from last year. The total number of employees entitled for the Special Payment/Festival Payment is 1498.
Speaking at the occasion, Ranaveer Sinha emphasized on the economic slowdown, rise in input cost and on the intense competition in the market place. However, he observed that in spite of all these impediments, the Union has been extremely supportive and has helped in enhancing the Company’s performance in the last fiscal.
Ram Chandra expressed his gratitude to Ranaveer Sinha for considering their request for a higher percentage of Bonus even during these difficult times. He requested the employees to observe discipline, achieve increase in productivity, full participation in small group activity and cost reduction projects, and safety compliance above all.