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Bonus payout of 20 percent announced for TCIL employees

Jamshedpur No Comments on Bonus payout of 20 percent announced for TCIL employees 208

The Annual Bonus for the employees of The Tinplate Company of India Limited for the Accounting Year 2012-13 was finalized today in an agreement entered into between the TCIL Management and the Golmuri Tinplate Workers’ Union (GTWU), in the presence of S.S. Pathak, Dy. Labour Commissioner and Conciliation Officer, Jamshedpur.
According to the agreement, the eligible employees will receive Annual Bonus of 19.45% of their annualized eligible earnings during the Accounting Year 2012-13. Further, considering the efforts put in by the eligible employees to cross the milestone production of 300,000 tons and the consequent increase in production by over 20% compared to previous Accounting Year 2011-12, an amount equivalent to 0.55% of the aggregate of Basic Wages and DA earned by them in the Accounting Year 2012-13 is also being paid along with the annual bonus.
In accordance with the agreement, the minimum and the maximum bonus for the employees will be Rs.17,200/- and Rs.43,600/-, respectively. The bonus amount shall be credited to the bank accounts of the employees on Oct 5, 2013.
The agreement was signed by Tarun Daga, MD;.Chacko Joseph, CFO; Ramesh B. Iyer, VP (Operations & Projects); Sarvesh Kumar, VP (Marketing & Sales); Aditya Roy Choudhury, (VP – Strategy, TQM & IT); S. Venkatraman, DGM(Works); M.K.Jha, Chief (F&A); Harjit Singh, Chief (Corporate Services); Deepa Verma, Chief (Talent Management); Dev Anand Sinha, DM (HR/IR); Gurprit Singh, Manager (Employee Relations) on behalf of the Management and Rakeshwar Pandey, President (GTWU); Raja Singh, Dy. President; Parbinder Singh, Sr. Vice-President, Kashinath and B.K.Lal, Vice-Presidents; S.D.Tripathi, General Secretary; D.K.Singh, Sudama Tiwary, Manoj Kumar Singh, Asst. Secretaries and K.K.Singh, Treasurer & Satnam Singh, Asst. Treasurer, on behalf of the Golmuri Tinplate Workers’ Union.
Savio Rebello, DM (Plant Services); Lokesh Verma, Manager (Administration), P.P. Moulik, Manager (Finance) from Management and R. Appal Raju, Rajendra Prasad Singh, Y.V.Dora, A. Ramesh Rao, and B. Satish Rao, Executive Committee Members, GTWU were also present on the occasion.

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