Tata Steel announces ~270-cr annual bonus for 2020-21

Private steel major Tata Steel 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 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 ~158.31 crore will be given. The minimum and maximum annual bonus payable will be ~34,920 and ~3,59,029, respectively.