Jamsedpur: Tata Steel Thursday announced annual bonus of Rs 165 crore for its 26,095 employees.

The Tata Steel management signed a Memorandum of Settlement with the Tata Workers’ Union for payment of bonus for the financial year 2016-17.

Even though majority of the employees draw salary or wage higher than the legal limit to be eligible to get bonus, the company is going to pay bonus to all employees in the unionised category respecting the old tradition.

A company press release said that bonus in the range of Rs 17,193 and Rs1,72,365 would be paid to a total of 26,095 eligible employees.