Chennai, October 23: The AIADMK-led Tamil Nadu government has sanctioned Rs 486.92 crores for disbursing bonus to the public sector unit (PSU) employees, ahead of Diwali 2018. The bonanza would benefit nearly 3.58 lakh-strong workforce employed by nearly a dozen state-owned bodies.

Chief Minister Edappadi Palaniswami on Tuesday said the minimum bonus to employees on the payroll would not be less than Rs 8,400, whereas, the maximum has been capped at Rs 16,800. The state government had enacted a law in 2015 which disallows the bonus ceiling to cross Rs 21,000. Diwali Bonus 2018 for MSRTC Employees: Cash Upto Rs 5000 & 10% Hike in Salary.

Apart from the eligible permanent staff, contractual employees of the Tamil Nadu Electricity Board and Civil Supplies Corporation will get a bonus of Rs 4,000 and Rs 3,000 respectively to their contractual workers.

Labourers working in the district cooperative, primary and cooperative societies will be entitled to a bonus ranging from Rs 2,400-3,000, despite not being covered under the Bonus Act, the government announced.

The C and D grade employees of Tamil Nadu Water Supply and Drainage Board will get a bonus of 8.33 per cent, Palaniswami said.

The Chief Minister claimed that those employees part of profit-making PSUs will get a higher bonus -- 8.33 per cent plus ex-gratia of 11.67 per cent. Those part of loss-making units would get 10 per cent bonus, along with 1.67 per cent ex-gratia.

(The above story first appeared on LatestLY on Oct 23, 2018 07:46 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).