Minimum Wages has gone up from Rs. 13 Per Month in 1920 to Rs.
393 per Month in 1974. The Average Annual Earnings of the
Tisco Employees have gone up from Rs. 780 in 1939-40 to Rs. 9,200 in
Minimum Wages has gone up from Rs. 13 Per Month in 1920 to Rs. 393 per Month in 1974.
The Average Annual Earnings of the Tisco Employees have gone up from Rs. 780 in 1939-40 to Rs. 9,200 in 1977-78.
The ratio between the lowest paid worker (Mazdoor) and the highest paid worker (First-Hand) has been narrowed down from 1:30.81 in 1939 to 1:3.53 in 1977. Thus, while the monthly wages of the Mazdoor were raised from Rs. 21.77 in 1939 to Rs. 435 in 1977, the First-hand's Monthly income was raised from Rs. 655.55 in 1939 to Rs. 1537.40 in 1977.
An amount of Rs. 557 lakhs was paid as annual bonus for the year 1976-77 as against Rs. 55 lakhs paid in 1947-48.
In addition to Performance Bonus, Incentive Bonus Schemes were introduced in all the production and maintenance departments in 1948. Effective from August 1, 1975 those employees who were not covered by the departmental incentive bonus schemes have also been covered by the plant wide bonus scheme. In 1977, the bonus potential for all the service departments was raised from 53 to 60 bonus points.
Sick leave of 30 days on half pay was introduced in 1959 for all employees. In 1965, in addition to privilege leave and festival leave, casual leave of 5 days was extended to the factory workers also.
A fully-equipped hospital consisting of 800 beds and 8 dispensaries in various localities of the town cater free medical and surgical services to all employees and their families. Effective from April 1972, free medical aid has also been extende to the retired employees with 25 years of service and their wives and those settled on medical grounds. From April 1975, reimbursement of medical expenses is made to the employees for specialised treatment outside Jamshedpur, provided such medical care is not available at Jamshedpur. Extensions and renovatins were made to the Female Medical Ward, Cildren's Ward, Intensive Care Unit, O.P.D., etc. A new hospital named after the late Sir Jehangir Ghandy has recently been constructed at a cost of Rs. 150 lakhs.
About 24,000 wards of the employees receive free education up to the high school standard from 21 schools run by the Company. The annual net expenditure on this account comes to about Rs. 73 lakhs.
Up to 1973, 15,950 huses were built for theemployees.
Effective from Novmber 1970, the retiring gratuity was revised entitling employees to one month's wages for every completed year of service in excess of 33 years.
With effect from 1st April 1976, in the event of death of an employee before retirement, his nominee is entitled to an amount, under this Scheme, which, together with the retiring gratuity, shall be equal to 20 months' salary, provided the amount in additin to the normal gratuity shall not be less than Rs. 11,000.
Effective from January 1974, in the event of rehabiliation of an employee in a lower grade, arising out of an accident, his substantive rate in the former grade is protected.
In accordance with the decision taken by the National Joint Consultative Committee for Steel Industry, with effect from 1st December 1977, I.O.W. wages paid to the employees during the accident leave period are not deducted from the compensation paid on account of partial or total disablement.
Revision of Incentive Bonus Scheme :
Effective from December 1977, the bonus potential of Re-building Gang and Tearing-out Gang of Refractories Department was raised from 60 to 66 bonus points for 100% efficiency.
Interim Revision of Grades :
With effect from December 1977, the grades of the staff of Security (Works & Town), Stores and Education Department covering a total strength of about 1900 employees have been revised upwards.