TCS Delays June Quarter Variable Pay for Employees – This is the Reason? Here are the Full Details!!! India’s one of India’s leading technology companies Tata Consultancy Services ( TCS NSE 0.13 %) has announced a one-month delay in paying performance bonuses or differential compensation to some employees for the quarter ended June. This means Tata Group has delayed the variable payout for C3A, C3B, C4 and equivalent grades by one month.
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This includes staff at the Assistant Adviser, Associate Adviser and Adviser levels. Now it has been informed that the payment due in July will be made by the end of August. Tata has announced that the performance bonus for C3A, C3B, C4 and equivalent grades will be given to eligible candidates once finalized. There is no mention of the amount of this bonus, in the notification of TCS. Sources in the company said that, the delay was due to an administrative issue.
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At present in the end of June, TCS has a total of 6,06,300 employees. Some of these employees have an experience range of 7 to 15 years. It is said that around 10 to 15% of the company’s workforce will come under this pay package. Meanwhile another IT firm Wipro has suspended differential pay for middle and senior level employees recently.
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