Tata Steel Awards Rs 303.13 Crore Bonus to Jamshedpur Employees

Tata Steel has taken a significant step by announcing a bonus payout of Rs 303.13 crore to its employees for the 2024-25 financial year. This decision comes on the heels of a memorandum of settlement signed with the Tata Workers' Union in Jamshedpur.

A notable portion of Rs 152.44 crore will be distributed among 11,446 employees in the Jamshedpur divisions, including tubes. According to the agreement, the annual bonus for eligible employees across all divisions and units will reflect this substantial payout.

The bonus ranges from a minimum of Rs 39,004 to a maximum of Rs 3,92,213 depending on attendance. While most employees earn above the statutory bonus limits, Tata Steel remains committed to its traditions by offering bonuses to the unionized workforce. Tata Steel's executive team and union representatives signed the settlement in the presence of government officials.