Chennai, Oct 23 (PTI) The Tamil Nadu government Tuesday announced deepavali bonus of Rs 486.92 crore that would benefit 3.58 lakh employees of various public sector undertakings in the state.

Employees of public sector undertakings which clocked profits in financial year 2017-18, would receive 20 per cent as bonus, including 8.33 per cent bonus and 11.67 per cent as ex-gratia, Chief Minister K Palaniswami said in an official release.

The employees of public sector undertakings which had reported losses in FY 2017-18 will receive 10 per cent as bonus including 1.67 per cent as ex-gratia.

As per the Payment of Bonus Act, 2015, the wage ceiling has been fixed at Rs 21,000.

Employees of State electricity board, transport corporations and Civil Supplies Corporation would receive 8.33 per cent bonus and an ex-gratia of 11.67 per cent, he said.

The 'C' and 'D' grade employees of Tamil Nadu Housing Board and Chennai Metrowater Supply and Sewerage Board will receive a bonus of 8.33 per cent and an ex-gratia of 1.67 per cent.

Contract employees of Tamil Nadu electricity Board and the civil supplies corporation would receive bonus of Rs 4,000 and Rs 3,000 respectively.

The staff in Cooperative societies and district cooperative societies would receive a bonus of Rs 3,000 and Rs 2,400, respectively.

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