On October 10, 2024, Tamil Nadu Chief Minister M.K. Stalin unveiled a significant bonus and ex-gratia package for 2.75 lakh employees working in the state’s public sector undertakings (PSUs) and statutory boards for the 2023-24 fiscal year.
Bonus Details
Under this announcement:
- Profit-Making PSUs (Groups C and D): Employees will receive a minimum bonus of ₹8,400, with a maximum of ₹16,800, which equates to an 8.33% bonus and an ex-gratia payment of 11.67%.
- PSUs Without Surplus: Workers will receive an 8.33% bonus and a 1.67% ex-gratia.
Financial Implications
The total financial outlay for the government is expected to be ₹369.65 crore, with payments made ahead of the Diwali festive season. This initiative aims to provide much-needed relief and support to the workforce.
Specific Benefits for Various Organizations
Employees of prominent organizations will benefit from the following:
- TANGEDCO, Tamil Nadu State Transport Undertakings, Tamil Nadu Civil Supplies Corporation, and Cooperative Milk Producers’ Federation: 20% bonus and ex-gratia.
- Tamil Nadu Housing Board and Chennai Metropolitan Water Supply and Drainage Board: 10% bonus and ex-gratia.
- Tamil Nadu Water Supply and Drainage Board: 8.33% bonus.
- Civil Supplies Corporation: Ex-gratia of ₹3,000.
Government’s Commitment
The Chief Minister emphasized that this move recognizes the critical contributions of PSU workers to economic growth and aims to enhance their motivation. A separate order will be issued for employees of cooperative institutions and other organizations.
Conclusion
This initiative underscores the state government’s commitment to rewarding and supporting its employees during this festive season.
