Professional Documents
Culture Documents
CIRCULAR
3. ROUNDING OFF
Bonus amount for permanent employees as well as separated employees including employees
separated under ESS will be rounded off to the nearest rupee. Amount up to 49 paise will be
ignored while 50 paise and above will be taken as Re. 1/-.
4. MODE OF PAYMENT
Separate bonus muster rolls would be prepared in respect of the following categories of
employees at Jamshedpur
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ii) Employees separated under ESS/JFJ who have not vacated Companys quarter without
permission to retain it / or not in receipt of monthly ESS pension/Maintenance Allowance
due to attainment of 60 years of age, will be paid bonus by A/c payee cheque through
Payroll Section of Finance & Accounts Division, subject to vacation of Companys
quarter and registration of claim for Bonus, wherever applicable.
Payment of bonus to separated employees other than ESS & Job for Job Scheme cases will
be made directly to their Bank Accounts except for the following cases:a.
b.
c.
Employees who were in receipt of salary by A/c. Payee cheque due to nonSubmission of Bank Account details;
Employees who have not vacated the Companys quarter and
Death cases where bonus will be paid to nominees of deceased ex-employees.
For cases under (a), (b) and (c) above, the payment will be made by A/c. Payee cheques thro
Payroll Section of Finance & Accounts Division, subject to vacation of Companys quarter /
establishment of claim, and registration of claim for Bonus, as applicable.
5. DATE OF PAYMENT
Payment to all eligible employees will be made on dates indicated below:Jamshedpur, Growth Shop, Tubes Division,
Jharia Division, West Bokaro ,OMQ and FAMD
a) Employees on rolls
b) Separated employees
(incl. separated under ESS)
c) Separated employees
(Cases under 4a, b & c above)
and including ESS separatees, who have
not vacated Companys quarter without
permission to retain it.
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6.
INCOME TAX
The Income Tax from bonus will be deducted at the tax rate applicable for
Individual employees/ex-employees, as per the income tax estimates made for salary/
ESS pension (including bonus) after considering the Investment Plans.
7.
The payment of Annual Bonus shall be made after recovering other dues, if any.
Rakesh Chandra
for Chief Financial Controller (FT&C)
Cc to: M.Ds Office / Gr. ED-F&Cs Office / President (TQM &SB) / Gr. Exc. VP (Finance)
All VPs/PEO/All GMs/All EICs/Chief HRM (Steel)/Chief Group IR/Chief (HRMRM)/
Chief HRM Jharia/WestBokaro / OMQ /Chief RE (Bhubaneswar)/Chief, RE (Ranchi)/
H O, Mumbai/Head (A/Cs Jharia)/Head (A/Cs- OMQ)/Head (Marketing Finance, Kolkata)/
Head (A/csWBC)/FC(Tubes)/FC (FA&MD),Kol./FC (Brgs)/FC (Wires Division)
All Chiefs & Heads of the Departments at Jamshedpur.
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