Jamshedpur: The management of TRF and the Tata Robins Fraser labour union signed an agreement on September 16, 2009 for payment of annual bonus for the accounting year 2008-09. The agreement is based on the formula linked to productivity, turnover and profitability of BMHE and BMHS divisions which was agreed to for the accounting years 2007-2008, 2008-2009 and 2009-2010 between the management and the union vide agreement dated September 27, 2007.
In accordance with the said agreement, eligible employees will receive 20 per cent bonus / ex gratia (previous year 20 per cent) of their respective actual earnings (Basic + DA) earned during the accounting year 2008-2009.
The minimum bonus / ex gratia works out to Rs10,488 and maximum bonus / ex gratia amount which eligible employee(s) will receive works out to Rs39,896.
The company, on the request of the union and in view of the start of festive season, has made arrangements to disburse the bonus immediately from September 17, 2009.
On behalf of the management, Sudhir Deoras, managing director, Hemant Kharkar, chief operating officer, PP Deshmukh, chief of BMHS division, Ashim Roy, general manager (finance and accounts), NK Singh, head – works and Arvind Kumar, senior divisional manager (personnel and administration) and on behalf of the union, Rakeshwar Pandey, president, RK Rahi, general secretary, Harbhajan Singh, deputy president, RB Rai, vice president, MH Hiramanik and Lal Sandil, assistant secretaries, Devika Singh, treasurer and KH Rao, advisor and all executive committee members signed the bonus agreement.