Tamil Nadu CM Announces Bonus and Ex-Gratia for 2.75 Lakh PSU Employees Ahead of Diwali
On October 10, 2024, Tamil Nadu Chief Minister M.K. Stalin revealed a significant bonus and ex-gratia package for 2.75 lakh employees of public sector undertakings (PSUs) and statutory boards for the fiscal year 2023-24. This initiative aims to provide financial relief and recognition to these workers ahead of the Diwali festival.
Bonus for Profit-Making PSUs
Employees in profit-making PSUs classified under Groups C and D will receive a minimum bonus of ₹8,400 and a maximum of ₹16,800. This payment structure translates to an 8.33% bonus and an ex-gratia amounting to 11.67%. For those employed in PSUs without allowable surplus, the bonus will remain at 8.33%, along with an ex-gratia of 1.67%.
Total Government Expenditure
The total expenditure incurred by the government for this bonus and ex-gratia package is estimated to be ₹369.65 crore. This financial assistance aims to enhance employee morale and acknowledge their contributions, particularly during the festive season.
Special Provisions for Key Organizations
The bonus and ex-gratia provisions include specific benefits for various organizations:
- TANGEDCO: Employees will receive a 20% bonus and ex-gratia.
- State Transport Undertakings: Employees will also benefit from a 20% bonus and ex-gratia.
- Tamil Nadu Civil Supplies Corporation: Workers will receive a 20% bonus and ex-gratia.
- Cooperative Milk Producers’ Federation: Employees will be eligible for a 20% bonus and ex-gratia.
- Tamil Nadu Housing Board and Chennai Metropolitan Water Supply and Drainage Board: Employees will receive a 10% bonus and ex-gratia.
- Tamil Nadu Water Supply and Drainage Board: Employees will receive an 8.33% bonus.
- Civil Supplies Corporation: Employees will receive an ex-gratia of ₹3,000.
Government’s Commitment to Employee Welfare
Chief Minister M.K. Stalin emphasized that this initiative is designed to acknowledge the vital role of PSU employees in driving the state’s economic growth. It reflects the government’s commitment to supporting its workforce during significant festive occasions. A separate order will be issued to address bonuses and ex-gratia for employees of cooperative institutions and other organizations.
This announcement underscores the Tamil Nadu government’s dedication to fostering a supportive work environment while enhancing the financial stability of its employees during the festive season.
