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Tinplate Company declares annual bonus

Jamshedpur, Oct.1: The annual bonus for the employees of The Tinplate Company of India Limited for the accounting year 2015-16 was finalized today in an agreement entered into between the TCIL Management and the Golmuri Tinplate Workers’ Union (GTWU), in the presence of Rakesh Prasad, Deputy Labour Commissioner and Conciliation Officer, Jamshedpur.

In accordance with the agreement, the minimum and the maximum bonus for the employees will be Rs 30,043 and Rs 50,510 respectively.

“The agreement was signed under Section 31-A of the Payment of Bonus Act, 1965 on the basis of the agreed criteria in terms of production, prime yield, and profitability.

According to the agreement, the eligible employees will receive annual bonus of 15.50 per cent of their annualized eligible earnings during the Accounting Year 2015-16.

In addition to above and considering the commitment given by the Union to meet the ABP target in 2016-17, all eligible employees will be paid an amount equivalent to 2.00 per cent of the aggregate of basic wages and DA earned by them in the Accounting Year 2015-16 as an additional amount along with Annual Bonus,” a company communiqué issued today said.

The agreement was signed by Tarun Daga, MD, Rupam Bhaduri, VP (Corporate), S Venkatraman, DGM (Works), Dr Atul Srivastava, Chief (Medical Services), Hemant Gupta, Chief (Maintenance), Gurprit Singh, Manager (Employee Relations) and Lokesh Verma, Manager (Administration) on behalf of the management and Rakeshwar Pandey, President (GTWU), Raja Singh, Deputy President, Kashinath, Manoj Kumar Singh, Mahender Singh, vice presidents, DK Singh, General Secretary, Parbinder Singh, Joint General Secretary, Sudama Tiwary, YV Dora, Assistant Secretaries, Satnam Singh, Treasurer and A Ramesh Rao, Assistant Treasurer on behalf of The Golmuri Tinplate Workers’ Union.

PP Moulik, Sr.Manager (Finance), Dinesh Jha, Assistant Manager (HRS) and VSN Raju, Senior Accounts Officer from Management and Munna Khan, S Kali Rao, Daljit Singh, PN Singh and Sanjay Kumar on behalf of GTWU were also present on the occasion.

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