The bonus comprises a productivity-linked amount of Rs 2,401 and a special amount of Rs 6,000. This is against the Rs 9,701 paid last year, a company release said.

The company will add a lump sum of Rs 4,000 to the superannuation account of employees who fall under the company's superannuation scheme. This will be over and above the company's contribution at the rate of 15 per cent of their basic salary for 1997-98.

Telco had last week implemented a five-day week for a fortnight, closing operations for three consecutive days (September 23 to September 25). The company has been forced to resort to cost cutting measures owing to the continuing recessionary trend. This was the first time Telco had closed operationsfor three consecutive days, affecting about 7,500 workers, of its total strength staff of about 12,000.

Pune works vice-president YV Nath, RB Khadilkar (ERC), general manager (production) PM Telang and deputy general manager (HR) RM Nirmal signed on behalf of the management. The union was represented by its president Shymakant Bhintade, working president Ravi Mahadik, general secretary Arun Paigude and treasurer Balashheb Jagtap.