Jamshedpur, Oct 17: A Memorandum of Settlement dated October 17, 2015 was signed between Tata Steel Procession and Distribution Limited (TSPDL) and TSPDL Union for Annual Bonus for the accounting year 2014-15.
Senior GM (HR & Safety) PK Sahu, Senior GM (Production) D Samadar, Chief (IR) Subhmay Majumdar, Divisional Manager Shekhar Jha on behalf of the management and Rakeshwar Pandey President of the Union, Vice-President Dinesh Kumar, Aman Ji, Sachidanand, General Secretary Tridev Singh, Assistant Secretary Dinesh, Chanchal Sareej, Shashiveer Rana, Treasurer R. Ravi and other officers on behalf of the union signed the memorandum. As per the Memorandum of Settlement, eligible employees will get 16 % annual bonus.
The minimum and maximum annual bonus payable for 2014-15 will be Rs 14480 and Rs 44048 respectively. Along with this the employees will also get gift voucher worth Rs 2500.
Earlier on Friday Management offered 14% bonus to the union while they demanded 18 %. After several rounds of bargaining the bonus was settled at 16%.