Tata Steel announces Rs 270.28 crore annual bonus for employees

Private steel major Tata Steel will pay a total of Rs 270.28 crore as annual bonus for the accounting year 2020-2021 to its eligible employees of all applicable division /units of the company, a release said.

A Memorandum of Settlement was signed on Wednesday between Tata Steel and the Tata Workers' Union, for payment of annual bonus for the accounting year 2020-2021, the release issued by the company said.

The total payout for eligible employees of all applicable divisions/ units of the company will be Rs 270.28 crore. Out of this, various divisions at Jamshedpur including Tubes, an amount of Rs 158.31 crore will be given.