Tata Steel, the private steel major is going to pay out a total of Rs 130 crore as an annual bonus to its eligible employees for the year 2015-16.

The company has said in a release that a Memorandum of Settlement has been signed between Tata Steel and the Tata Worker’s Union, for Annual Bonus for 2015-16.

The annual bonus payout as per the Memorandum of Settlement for 28,436 eligible employees of all applicable divisions/units of the company for 2015-16 would be Rs 130 crore.

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