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Private steel major <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> will pay a total of ₹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 <keyword id="398939" type="PERSON" weightage="20" keywordseo="memorandum-of-settlement">Memorandum of Settlement</keyword> 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 ₹158.31 crore will be given. The minimum and maximum annual bonus payable will be ₹34,920 and ₹3,59,029 respectively. T V Narendran, CEO &amp; MD, Atrayee Sanyal, Vice President (HRM) and other senior executives signed on management's behalf while Sanjeev Kumar Choudhary, president, <keyword id="230274" type="ORGANIZATION" weightage="20" keywordseo="Tata-Workers-Union">Tata Workers Union</keyword>, Shailesh Kumar Singh, deputy president, Tata Workers' Union, Satish Kumar Singh, general secretary, Tata Workers' Union and other office bearers signed on Union's behalf. Further, a Memorandum of Agreement has also been signed between the steel company and the Indian National Metal Workers' Federation (INMWF) and Rashtriya Colliery Mazdoor Sangh (RCMS). Total payout on account of annual bonus at Coal, Mines and FAMD is ₹78.04 crore approximately. Another Memorandum of Settlement was signed on Wednesday between Tata Steel and the <keyword id="11890253" type="UNKNOWN" weightage="20" keywordseo="tisco-mazdoor-union">Tisco Mazdoor Union</keyword>. Total payout on account of annual bonus for growth shop is ₹3.24 crore approximately. The agreement was signed by Avneesh Gupta, <keyword id="45171" type="POSITION" weightage="20" keywordseo="VP">VP</keyword> (<keyword id="474813" type="ORGANIZATION" weightage="20" keywordseo="TQM">TQM</keyword> and E&amp;P), Atrayee Sanyal, VP (HRM), and other senior executives signed on management's behalf and Rakeshwar Pandey, president, Tisco Mazdoor Union, Adityapur, Shio Lakhan Singh, general secretary, Tisco Mazdoor Union and the other office bearers signed on Union's behalf. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/urban-company-on-lookout-for-15000-service-professionals-in-50-cities-in-india/articleshow/85447261.cms">Urban Company is on the lookout for 15,000 service professionals as it wishes to tap into 50 cities by the end of this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/android-auto-will-replace-with-google-assistant-driving-mode-in-android-12-phones/articleshow/85447812.cms">Android Auto on phone screens will not be available on Android 12</a>

Tata Steel announces ₹270 crore annual bonus for all eligible employees for 2020-21

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Tata Steel announces ₹270 crore annual bonus for all eligible employees for 2020-21

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