TN announces 370cr in bonuses for 2.75 lakh PSU employees

Chennai: Chief minister M K Stalin on Thursday announced that 2.75 lakh employees in state public sector undertakings and statutory boards would receive bonuses and ex-gratia payments for the fiscal year 2023-24. "The eligible workers will be paid a minimum bonus of 8,400 and a maximum of 16,800," said an official release. The move would result in state exchequer incurring an expenditure of 369.65 crore.
All workers and employees categorised under C and D groups in PSUs that made a profit would be paid a minimum bonus of 8.33% and ex-gratia of 11.67%. Workers and employees of Tangedco, state transport undertakings, Tamil Nadu Civil Supplies Corporation, and Cooperative Milk Producers' Federation would be paid a minimum bonus of 8.33% and ex-gratia of 11.67%.
For PSUs that lack allocable surplus, a minimum bonus of 8.33% and ex-gratia of 1.67% would be paid to workers and employees. Eligible employees of C and D groups in Tamil Nadu Housing Board and Chennai Metropolitan Water Supply and Drainage Board will receive a bonus of 8.33% and ex-gratia of 1.67%.
Tamil Nadu Water Supply and Drainage Board employees would be paid 8.33% bonus, while the temporary workers of the Civil Supplies Corporation would be paid ex-gratia of 3,000.
CM ordered bonuses and ex-gratia payments to motivate workers and employees in public sector enterprises, acknowledging their role in uplifting the country and contributing to economic growth, the release said.
The govt would issue separate orders for employees in various cooperative institutions and organisations to detail their specific bonuses and ex-gratia payments.