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Tata Steel management, workers’ union sign pact for annual bonus

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Tata Metal on September 14 stated its administration and Tata Employees Union have signed a Memorandum of administration and Tata Employees Union have signed a Memorandum of Settlement for cost of annual bonus for the accounting yr2019-20.2019-20.

“Regardless of a troublesome yr as a consequence of COVID-19, Tata Metal honoured its three-year dedication to make sure full bonus cost to staff,” the metal main stated in a launch.

The union and administration have mutually agreed to revise the present annual bonus scheme and make it relevant for monetary years 2017-18, 2018-19 and 2019-20 for all eligible staff in several areas of the corporate, it stated.

The full quantity out there for disbursement as annual bonus to relevant divisions or items of the corporate for the accounting yr 2019-20 is Rs 235.54 crore, the discharge added.

First Printed on Sep 14, 2020 09:00 pm

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