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  • Cashew workers to get 20% bonus

    Sep 7th, 2016

    Cashew workers will get a bonus of 20 per cent of their wages this year. A decision in this regard was taken by the Industrial Relations Committee (IRC) for Cashew Industry at a meeting here on Monday chaired by Minister for Cashew Industry J. Mercykutty Amma.The bonus amount was “22.5 per cent” in the past three years. Though there is a ceiling of 20 per cent, the extra amount was given under “ex gratia.” A decision on the ex gratia component will be taken in December.

    The bonus will be paid by September 10. As per the decision, workers with attendance of 75 per cent will get a minimum bonus of Rs.8,500. There will be a pro rate deduction of bonus for those with attendance below 75 per cent. There has also been relief in the IRC decision when it comes to bonus for the office staff of cashew factories.

    In the past three years, the bonus was equal to the salary of three months and 12 days. The bonus this year will be equal to the salary of three months and 10 days as per the decision of the IRC.

    Private sector processors have hailed the decision. They view it as recognition by the government and trade unions of the crisis faced by the industry. Private processors say the slashing of 2.4 per cent on bonus and two days salary for staff works out to a big amount for each factory and comes as a relief.