|
Jamshedpur
September 24, 2011
TRF pays 17 % Bonus and Announces New Incentive Bonus Scheme
The Management of TRF Limited and the Tata Robins Fraser Labour Union signed an
Agreement on September 24, 2011 for payment of Annual Bonus for the accounting
year 2010-2011. The Agreement which is based on the formula linked to productivity,
turnover and profitability was agreed to for the accounting years 2010-11, 2011-12
and 2012-13 between the Management and the Union vide agreement dated
September 16, 2010.
TRF has made arrangements on the special request of the Union, to ensure that its
employees get their bonus amount in their banks on September 26, 2011, in view of
the start of festive season.
The Management and the Union also agreed on a new formula for calculation and
payment of Incentive Bonus which is linked to production capacity, safety and quality,
as factors for calculation of incentive bonus. The new incentive scheme shall be
applicable from 1st September 2011. The new incentive scheme would help the
Company to grow faster as it will motivate the employees to achieve higher
production and productivity and thereby increase their earnings substantially.
Mr Sudhir Deoras, Managing Director, TRF said that the employees stood to gain
substantially by the introduction of the new incentive bonus scheme. He wished the
employees a happy and safe festive season on this occasion.
Mr Rakeshwar Pandey, President, Tata Robin Fraser Labour Union said that annual
bonus though lower was realistic. He appealed to all the employees to invest their
money in useful savings schemes. He was proud to note that the workforce of the
Company consisted of a very large number of youngsters. He appreciated that the
management of the Company was making effort to make the company young by
recruiting youngsters and investing in new machines and technology. He assured that
the employees would continue to support the Company in its endeavours, which
would lead to rapid growth and prosperity to all.
Mr RK Rahi, General Secretary, informed the employees about the salient features of
the annual bonus and the new incentive bonus scheme.
On behalf of the Management Mr Sudhir Deoras, Managing Director, Mr Hemant
Kharkar, Chief Operating Officer, PK Tibdewal, Chief of BMHE and PYE Divisions, Mr PP
Deshmukh, Chief of BMHS Division, Mr Ashim Roy, General Manager (Finance &
Accounts), Mr NK Singh, Dy Chief and Mr Arvind Kumar, Sr. Divisional Manager
(Personnel & Administration) and on behalf of the Union Mr Rakeshwar Pandey,
President, Mr R.K. Rahi, General Secretary, Mr Harbhajan Singh, Deputy President, Mr
RB Rai, Vice President, Mr MH Hiramanik, and Mr Lal Sandil, Assistant Secretaries, Mr KH
Rao, Advisor, Mrs Devika Singh, Treasurer and all Executive Committee Members
signed the bonus agreement.
(Rajen Sahay)
Head, Corporate Communications
TRF Ltd is a pioneer in engineering and supply of material handling equipment and systems
for five decades. TRF has invested in Hewitt Robins Fraser Limited, UK to enhance it scale of
bulk material equipment and make a more meaningful presence in both European and Indian
markets and the sub-continent. TRF has business interest in automotive applications. The
company?s subsidiary, York Transport Equipment (Asia) Pte Limited, Singapore is engaged in
the business of production and distribution of trailer undergears, with market presence in 27
countries. York Transport Equipment (Asia) Pte Ltd has four manufacturing facilities world
wide, including one in India. TRF has also set up Adithya Automotive Applications Limited, an
automotive applications unit under a joint venture in Lucknow. TRF has also acquired the
Dutch Lanka Trailer (DLT) Manufacturers Limited, Sri Lanka. DLT is a world-class trailer
company with manufacturing facilities in Sri Lanka, Oman and India. It exports trailers to as
many as 30 countries.
|
