Jamshedpur: Jusco announced 18 per cent annual bonus for its employees here on Friday. The employees will get a minimum of Rs 29,440. The total payout on account of annual bonus is Rs 7.50 crore which will be distributed among 885 employees. The bonus amount will be sent to the bank accounts of eligible employees by Monday, sources said.
The bonus settlement agreement was signed between the company management and Jusco Shramik Union in the conference room on the company premises in the evening. It was signed by MD Jusco Ashish Mathur, senior GM Dhananjay Mishra, Deepak Kamath, union president Raghunath Pandey, executive president YP Singh, deputy president BK Dubey and general secretary VD Gopal Krishna.
Sources said, the bonus amount could go up to Rs 7.99 crore depending on the TBEM Report expected to come in December this year. Under the bonus formula, the bonus amount would be increased if the report is better this year, sources said.
Sources said an ICS employee, KK Rai, will get Rs 2,18,500 bonus. Rai retired in July this year.
After the bonus agreement, the union committee members held a meeting at the union office. The union president congratulated all employees and informed the committee members about the bonus announcement. All office-bearers were garlanded by the committee members. Laddoos were distributed on the occasion.
During the meeting, the union leaders raised the issue of long travel conveyance and expressed hope that LTC agreement was likely soon.