Financial Daily from THE HINDU group of publications
Thursday, Oct 03, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 03, 2002 |
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Agri-Biz & Commodities
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Tea Tea estates sign bonus accord Our Bureau
KOLKATA, Oct. 2 THE trade unions and the managements of the 174 tea companies located in Dooars and Terai of West Bengal have finally signed an industry-wide agreement on the bonus issue. With this the labour crisis, which was looming large over the North Indian tea industry, has been averted. It has been decided that the tea companies would pay the statutory bonus to all workers under the provisions of the Payment of Bonus Act, 1965. Moreover, considering the workers' cost of living a compensatory payment would also be made. According to the agreement, the tea estates have been divided into four categories based on their production. These groups are A, B, C and D. The rate of bonus and compensatory allowance to these groups would be 12 per cent, 11 per cent, 9.75 per cent and 8.50 per cent respectively. All along, the tea companies were urging the trade unions and the State Government to allow them to sign individual garden-wise bonus agreements because of the poor financial condition of the tea industry. However, they had to concede to the demands of the trade unions. Though the trade unions are successful in coming to an industry-wide settlement on this issue, the bonus payment would be nowhere to their expectations. In earlier years, the rates of bonus payouts used to be as high as 20 per cent. However, there is a clause whereby individual tea estates that are ``facing genuine difficulties in matter payment'' can discuss the issue with the trade unions. In view of the ``amicable settlement'', the trade unions have also assured that law and order would be maintained in the tea estates. The tea companies have also agreed to the trade unions' demand of paying bonus and compensatory allowance even to those employees whose wages exceeds Rs 5,000. However, the bonus would be calculated on the basis of a monthly wage of Rs 5,000.
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