Aurangabad, Nov 4:
The Varroc Engineering Limited, in Waluj industrial area, has announced a hefty Diwali bonus of Rs 25,769 each to workers this year. The announcement was made at a meeting of trade union and company management, informed vice president of the union Pundalik Gadekar on Wednesday.
The union operates under the company''s plant 7-8 in the Waluj industrial area that manufactures various parts for two and four-wheelers. The company did well during Covid-19 crisis. It has also benefited the company financially. Last year, a bonus of Rs 25,000 was announced to the workers. This year, however, there was a demand for a higher Diwali bonus. At the meeting, company vice president Satish Mande and manager Sudam Jadhav announced a Diwali bonus of Rs 25,769 for this year. The workers thanked Varroc group''s managing director Tarang Jain. union president Rameshwar Shinde, Shivkumar Patil were present.
Market to see huge turnover
"The total amount of bonus announced by the Varroc company to the workers is Rs 1.61 crore. In all, 625 employees of the company will get the bonus amount. This amount then will be spent on the Diwali shopping by the workers, resulting in huge turnover in the local market," said Gadekar.