Jamshedpur, : A Memorandum of Settlement dated 28th August 2025 has been signed between Tata Steel and the Tata Workers’ Union, for payment of Annual Bonus for the accounting year 2024-2025.
As per the Memorandum of Settlement the annual bonus for the year 2024-2025 the total payout for eligible employees of all applicable divisions/Units of the Company on account of annual bonus for the year 2024-2025 will be Rs 303.13 Cr.
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Out of this, for Divisions at Jamshedpur including Tubes, an amount of Rs. 152.44 Cr will be distributed as annual bonus amongst approx. 11446 employees. The minimum (at full attendance) and maximum (at actual attendance) annual bonus payable for 2024-25 will be Rs 39,004/-and Rs 3,92,213/- respectively.
Since majority of our employees of the Steel Company are drawing salary/wages higher than the limit laid down in the Payment of Bonus (Amendment) Act, 2015, they are not eligible for bonus under the Act. However, respecting our old traditions, the Company is going to pay bonus to all employees in the unionized category.
The Settlement was signed on 28th August 2025. Mr. T V Narendran, CEO & MD, Ms. Atrayee Sanyal, Chief People Officer and other Sr. Executives signed on Management’s behalf and Mr. Sanjeev Kumar Choudhary, President, Tata Workers Union, Mr. Satish Kumar Singh, General Secretary, Tata Workers’ Union and the other office bearers signed on Union’s behalf in presence of Mr. Arvind Kumar, Dy. Labour Commissioner, Jamshedpur & Conciliation Officer, Govt. of Jharkhand.