Jamshedpur: JUSCO today announced an annual bonus of Rs 7.285 crore for its 852 eligible employees for the year 2017-18.
An Agreement was signed between JUSCO Management and the JUSCO Shramik Union based on the already agreed upon Bonus Chart for 2017-18. The Settlement also contains the Bonus chart for 2018-19 which would determine the payout next year.
The settlement was signed by Tarun Daga, MD, JUSCO, and Raghunath Pandey, President, JUSCO Shramik Union, along with other senior officials of the company and office bearers of the JUSCO Shramik Union in presence of Rakesh Prasad, DLC, Kolhan and Conciliation Officer.
Bonus entitlement is based on a pre-decided kitty and the company’s performance on various parameters such as Profit before taxes (PBT), safety performance, compliance to complaints, top box feedback from customers, transmission and distribution losses, overall unaccounted for water losses, customer satisfaction index, repeat complaints and productivity. Good performance on all of these parameters helps the company achieve its strategic goals and objectives.
It includes an ex-gratia amount agreed to be paid by the management at the union’s request in view of the company’s performance in the recent TBEM assessment. It may be noted that the company crossed the 600 point mark for the first time in the TBEM assessment held in the first week of September 2018. It may be noted that 852 employees would be paid annual bonus for the accounting year 2017-18.