TRF: Group Personal Accident Policy and Revised Service Bonus for Employees

Jamshedpur, March 31: The Management of TRF Limited and the Tata Robins Fraser Labour Union on Tuesday agreed to extend the coverage of group personal accident policy to all employees in unionized category and revise the service bonus rate of eligible employees.

The agreement for Group Personal Accident Policy will be effective from May 31, 2015. This will cover all employees in unionized category and will include -24 hours coverage to all employees within India, compensation will paid in case of death or loss of earning because of permanent or partial disablement due to any accident.

The computation is based on loss of earning capacity and the compensation amount payable in case of accidental death would be Rs.12.00 lakhs. The revised rate for service bonus will be effective from April 1, 2015.

Under the revised scheme employees eligible for service bonus will get 10% additional bonus points.

This was agreed in the presence of Sudhir Deoras, MD, Hemant Kharkar, Chief Operating Officer (CS), PK Tibdewal, Chief Operating Officer ((BMHB) and A Kumar, AGM(P&A) from the management and Rakeshwar Pandey, President, R.K. Rahi, General Secretary, MH Hiramanek, Deputy President, RB Rai, Vice President, SK Jha and B Purty, Assistant Secretaries, Sanjay Kumar, Assistant Treasurer, BP Singh and MB Chaturvedy, members from the Union.