Tata Steel is planning to pay total of Rs 270.28 crore as annual bonus for the accounting year 2020-2021 to its eligible employees of all applicable division /units of the company. A Memorandum of Settlement was signed between Tata Steel and the Tata Workers' Union, for payment of annual bonus for the accounting year 2020-2021. The total payout for eligible employees of all applicable divisions/ units of the company will be Rs 270.28 crore.
Out of this, various divisions at Jamshedpur including Tubes, an amount of Rs 158.31 crore will be given. The minimum and maximum annual bonus payable will be Rs 34,920 and Rs 3,59,029 respectively.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
