Jamshedpur: TSUISL (formerly Jusco) Management will disburse Annual Bonus for the accounting year 2019-20 based on already agreed upon bonus formula for 2019-20.
This year the management decided the bonus amount on the basis of earlier formula as no bonus talks were held with the union owing to union’s tenure having ended in March.
Bonus entitlement is based on a pre-decided formula and the Company’s performance on various parameters such as Profit before taxes(PBT), Safety performance, compliance to complaints, Transmission and Distribution loss, overall unaccounted for water, customer satisfaction index, Repeat complaints, Productivity and Total Productive Maintenance, good performance etc, all of which help the Company achieve its Strategic goals and objectives..
As per the agreement, Rs 6.088 crores would be disbursed on Monday, October 19 to all eligible employees considering the oncoming festive season.
751 employees would be paid annual bonus for the year 2019-20.
The union president Raghunath Pandey has however termed the bonus agreement as incomplete and said that he would speak to the management on the issue after the union elections.