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Mumbai, Aug. 4

Tata Steel will be paying its 35,600 employees in the non-officer category an annual bonus totalling Rs 100 crore for the accounting year 2005-06.

A memorandum of settlement has been signed to this effect between the company management and the Tata Workers Union and other unions. The annual bonus for the year is to be calculated on the basis of 50 per cent on production and the remaining 50 per cent on profitability.

(This article was published in the Business Line print edition dated August 5, 2006)
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