Big News! Tata Steel brings 2 big schemes for employees, know benefits

Tata Steel employees will now be able to transfer jobs to their children and dependents after serving in the company for a fixed period of time. For this, the company is coming up with a 'Job for Job' scheme. The company is also introducing a scheme of ESS early separation scheme to provide attractive benefits to premature retirement takers. Combining these two schemes, the company has named it the 'Golden Future Plan' and will be implemented from November 1. The employees of the company can also avail both schemes simultaneously. The company is circulating circulars among workers for the same.

According to official sources in Tata Steel, under the Job for Job scheme, employees will be able to transfer their jobs by nominating their son, daughter, son-in-law or someone else as dependents. The restoration of the dependent will take place as the first trainee. After training, they have to take an examination. Only then will their service be made permanent. A dependent who fails the examination may be deprived of a job.

At the same time, out of 12.5 permanent employees of the company, there are 3,500 employees above the age of 52 years. Under the Job for Job Scheme, a minimum age of 52 years will be mandatory for the dependent to transfer his job, while the early separation scheme means ESS will enable employees who are at least 45 years of age to avail benefits. Employees taking ESS will continue to receive Basic-DA amount, medical facilities and quarters till the age of retirement, for six years after taking ESS or till the age of 58 years, whichever is the earlier period.

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