Latest news with #VariableAllowance
Time of India
3 days ago
- Business
- Time of India
TCS gives out variable pay! Over 70% employees to get 100% variable; no decision yet on salary hikes
At TCS, the hierarchical structure begins with Y grade for trainees, progressing to C1 for systems engineers. TCS variable pay: In good news for a majority of its employees, Tata Consultancy Services (TCS), India's largest IT services firm, will give 100% variable pay out to around 70% of its staff for the April to June quarter. The compensation for remaining staff members will be decided by their business units' performance metrics. Although quarterly variable payments have been consistently distributed, the organisation is yet to finalise its annual salary hike policy. This delay comes amidst challenging economic conditions, resulting in the company experiencing revenue decline in dollar terms for three consecutive quarters. TCS Variable Pay TCS has verified the disbursement of variable compensation. A company representative told ET that the eligibility requirements remain "in line with our standard practice across quarters". In an email communication to staff last week, chief human resources officer Milind Lakkad reportedly said, "All employees up to C2 grade (or equivalent grades) covered under the QVA plan will receive 100% of the Quarterly Variable Allowance (QVA). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo The individual pay-out for the C3 grade and above may vary, depending on business performance." At TCS, the hierarchical structure begins with Y grade for trainees, progressing to C1 for systems engineers, followed by C2, C3 – A&B, C4, C5, and culminates with CXOs. Staff members holding C3 positions and above are generally considered senior personnel. The leading IT services provider increased its workforce by 5,060 people during the quarter ending June, bringing its total employee strength to approximately 613,000. The TCS chief executive K Krithivasan spoke of ongoing challenges in Q1 in last week's earnings announcement, highlighting the persistent and heightened delays in decision-making and project initiations. He noted that global business operations faced disruptions stemming from conflicts, economic instability and supply chain complications. For software service providers, the ability to drive growth significantly depends on discretionary technology investments from their clients. Krithivasan expressed that whilst discretionary expenditure remains low across various sectors, he anticipates a recovery once the broader economic landscape becomes more definitive. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
3 days ago
- Business
- Economic Times
TCS rolls out 100% Q1 variable pay for 70%+ employees
India's largest IT firm, Tata Consultancy Services , has announced 100% quarterly variable pay for more than 70% of its employees for the April-June period. Payment to the rest of the employees will be based on the performance of their respective business units.'All employees up to C2 grade (or equivalent grades) covered under the QVA plan will receive 100% of the Quarterly Variable Allowance (QVA). The individual pay-out for the C3 grade and above may vary, depending on business performance,' chief human resources officer Milind Lakkad said in an email to employees last week. ET has seen the grade structure at the Tata Group company typically starts with entry level at Y as trainees, systems engineer at C1, followed by C2, C3 – A&B, C4, C5 and CXOs. Employees in the C3 and above band are likely to fall in the senior confirmed payment of the variable allowance. The criteria for payment is 'in line with our standard practice across quarters', a spokesperson said in response to ET's the company has paid out variable components timely for each quarter, the management has still not made a decision on annual wage hikes amid a weak macro environment which has led to the company reporting a fall in revenue in dollars for three straight IT industry bellwether added 5,060 employees in the quarter ended June, taking its total headcount to nearly 613,000."We have spoken about delays in decision-making and project starts. With respect to discretionary investments, this trend has continued and intensified to some extent in this quarter and global businesses were disrupted due to conflicts, economic uncertainty and supply chain issues,' chief executive K Krithivasan said last week, referring to the Q1 technology investments or spending by clients are crucial for software service providers to push TCS chief pointed out that while discretionary spending remains subdued across sectors, it is expected to bounce back once there is clarity in the macro environment.
Time of India
3 days ago
- Business
- Time of India
TCS rolls out 100% Q1 variable pay for 70%+ employees
Academy Empower your mind, elevate your skills India's largest IT firm, Tata Consultancy Services , has announced 100% quarterly variable pay for more than 70% of its employees for the April-June period. Payment to the rest of the employees will be based on the performance of their respective business units.'All employees up to C2 grade (or equivalent grades) covered under the QVA plan will receive 100% of the Quarterly Variable Allowance (QVA). The individual pay-out for the C3 grade and above may vary, depending on business performance,' chief human resources officer Milind Lakkad said in an email to employees last week. ET has seen the grade structure at the Tata Group company typically starts with entry level at Y as trainees, systems engineer at C1, followed by C2, C3 – A&B, C4, C5 and CXOs. Employees in the C3 and above band are likely to fall in the senior confirmed payment of the variable allowance. The criteria for payment is 'in line with our standard practice across quarters', a spokesperson said in response to ET's the company has paid out variable components timely for each quarter, the management has still not made a decision on annual wage hikes amid a weak macro environment which has led to the company reporting a fall in revenue in dollars for three straight IT industry bellwether added 5,060 employees in the quarter ended June, taking its total headcount to nearly 613,000."We have spoken about delays in decision-making and project starts. With respect to discretionary investments, this trend has continued and intensified to some extent in this quarter and global businesses were disrupted due to conflicts, economic uncertainty and supply chain issues,' chief executive K Krithivasan said last week, referring to the Q1 technology investments or spending by clients are crucial for software service providers to push TCS chief pointed out that while discretionary spending remains subdued across sectors, it is expected to bounce back once there is clarity in the macro environment.
India.com
24-06-2025
- Business
- India.com
Ratan Tata's TCS plans massive Rs 4500 crore expansion across India with..., Kolkata, Bengaluru and Hyderabad will now be...
TCS- Ratan Tata- (File) Tata Consultancy Services update: In a significant development for the Indian IT sector, Tata Consultancy Services (TCS) is planning a a significant realty expansion across India. As per a report by the Economic Times, Ratan Tata's TCS is planning to set up new office campuses, leased spaces, and long-term infrastructure developments with a massive funding of Rs 4,500 crore. The report also mentions that the company is increasing its physical footprint in key cities of India, in alignment with its growth in headcount and strong financial performance in the fiscal year 2024-25. TCS Expansion plan As a part of the expansion plan, media reports also say that TCS is working on a expansion plan across 30 acres spread between its Sanchita Park and Bengal Silicon Valley Hub campuses in Kolkata and 1.4 and 1.6 million square feet from Sattva—Darshita Southern India Happy Homes for Rs 2,250 crore in Bengaluru, Karnataka. TCS is also making expansions in other key cities of India including Hyderabad and Coimbatore. TCS pays 100pc quarterly variable allowance to over 70pc of employees In another significant development, Tata Consultancy Services paid out 100 per cent cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January -March quarter. As per a report by PTI news agency, the company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units, which is consistent with TCS's established policy across quarters. 'We have paid out 100 per cent QVA to over 70 per cent of the company. For all other grades, the QVA depends on their unit's business performance. This is in line with our standard practice across quarters,' TCS said in a statement. Notably, the Tata Consultancy Services) reported a 1.7 per cent decline in the March quarter net profit to Rs 12,224 crore, driven largely by a margin contraction, along with logging a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period. (With inputs from agencies)
India.com
07-05-2025
- Business
- India.com
This company of Ratan Tata gives bonus every 3 months, amount is separate from salary, paid 100pc quarterly variable allowance to…
Late Ratan Tata- File image Tata Group's IT sector company, TCS, has paid full Quarterly Variable Allowance (QVA) to more than 70% of its employees for the January-March quarter. Tata Group companies are known for providing excellent employee benefits. Tata Consultancy Services (TCS) is the largest private-sector employer after Indian Railways, announced that it has paid 100% QVA to over 70% of its employees for the January-March quarter. In a statement, TCS said, 'We have paid 100% Quarterly Variable Allowance (QVA) to more than 70% of our employees. For employees in other grades, QVA is dependent on the business performance of their respective units. This is in line with our standard practice across all quarters.' The company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units, which is consistent with TCS's established policy across quarters. 'We have paid out 100 per cent QVA to over 70 per cent of the company. For all other grades, the QVA depends on their unit's business performance. This is in line with our standard practice across quarters,' TCS said in a statement. TCS (Tata Consultancy Services) reported a 1.7 per cent decline in the March quarter net profit to Rs 12,224 crore, driven largely by a margin contraction. It logged a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period. While announcing its Q4 and FY25 earnings last month, TCS had said that it would be deferring annual wage hikes to its 6.07 lakh employees due to the business uncertainties triggered by the tariff issues. The company's chief human resources officer Milind Lakkad cited business uncertainties for the delay in annual wage hikes, which generally set in from April. He, however, did not give a timeline for when the company will announce the hikes. (With inputs from PTI)
