The bonus percentage varied according to the corporations and whether they are profitable or loss making. Along with the bonus, financial assistance on compassionate grounds, for the year 2017-18, is also given to the employees.
According to an official statement, employees working in profit making companies will get 20 per cent bonus, which includes 11.67 per cent of financial assistance on compassionate grounds. However, for loss-making organisations, the employees will receive only 10 per cent bonus, including 1.67 per cent of financial assistance on compassionate grounds.
Though TNSTC is a loss-making entity, the government has fixed bonus at 20 per cent slab. “Eligible employees of TANGEDCO, TNSTC and Civil Supplies Corporation will get 20 per cent bonus, including 11.67 per cent of financial assistance under compassionate grounds,” said the official statement.
The same grounds apply for employees of Cooperative societies as profit-making units will get up to 20 per cent bonus, based on the additional funds remaining with them and for the employees of loss-making Cooperative societies, 10 per cent bonus has been allotted.
For ‘C’ and ‘D’ category employees of Tamil Nadu Housing Board and Chennai Metropolitan Water Supply and Sewerage Board, 10 per cent would be given. The ‘C’ and ‘D’ category employees of TWAD board, will receive 8.33 per cent bonus.
For employees working in Rubber Board, Tamil Nadu Forest Plantation Corporation, Tamil Nadu Sugar Corporation and TANTEA, the bonus is based on the profit that the particular entity has made.
“The bonus will vary between 10 and 20 per cent based on the profit,” stated the release.
For contract workers in the Corporations, the bonus varied from Rs 4,000 to Rs 2,400. For regular workers, the bonus will vary between Rs 8,400 and Rs 16,800.
The State government will disburse Rs 486.92 crore as Deepavali bonus to 3.58 lakh employees of State PSUs.