TRL Krosaki Refractories Limited (TRL) has declared an amount of minimum Rs 17,000/- as bonus and cash award to its workmen for the year 2011-2012. TRL Krosaki has recently signed a very good wage agreement with the Union which has accrued windfall gains to the workmen.
As per the Bonus Agreement, each employee in workmen grade is eligible for Bonus and cash award for the accounting year 2011-12 at the rate of 20% of their salary subject to a minimum of Rs. 17000/-. This is the highest amount ever paid by any Refractories company in India and one of the highest for any industry in Odisha. Nearly 1000 workers are benefited from this payment which was made through their respective bank account on October 12, 2012. It may be noted that, the management has agreed for the bonus, in spite of present financial stringency of the company.
The company has been paying bonus uninterruptedly for last so many years, despite of its low profitability.