TCS has been in the news for All bad reasons recently, for a change today the TCS Management has announced 50% increase in VA Quarterly component for the just concluded quarter. This is applicable only for this quarter and not future VA components.
Most of the employees are expected to receive the increased VA in october salary, this will give a minimum bonus of Rs 4000 and upwards . This could be a way the company is trying to mend way with its employees and probably a Gift from the new CEO N Chandrasekharan.
Below is the excerpt fromVP & Head of Global HR , TCS
Congratulations and thanks to all of you for your tremendous effort. Considering the performance of the company in this quarter, I am pleased to announce the management decision to pay 1.5 times of the quarterly component of the variable pay for the quarter ended 30 September, 2009, applicable for eligible employees on India payroll.
Anyway Happy Diwali everyone..