There is good news for the employees. His salary will see an increase of 15%. For this, they will get its benefit from 1 April 2023. With this, an increase of Rs 59000 will be seen in his salary.
Employees Salary Hike, Employees Benefit: There is good news for the employees. Actually their salary will be increased. Preparations have started for this. Employees will get the benefit of 15 percent increase in the same salary. Along with this, there will be a significant increase in their salary.
Preparations have been started by the IT company to increase the salary for its employees. Salary hikes have been deferred by companies like Infosys and HCL. At the same time, preparations are being made by TCS to increase the salary of its employees. According to the report of Economics Times, the decision has been taken by Tata Consultancy Service to increase the salary of its employees.
Slight decline in company’s earnings
Let us tell you that this time there has been a slight decline in the earnings of the company. Despite this, a decision has been taken to increase the salary of its employees. Sameer Seksaria, Chief Financial Officer of TCS told that the increment has been implemented from April 1. This has reduced the company’s operating margin by 200 basis points. TCS says that soon this profit shortfall will be met by finding a new way.
Pay hike announcement
At the same time, after the end of the first quarter of the financial year 2024, the consultancy firm of the Tata group has registered a huge profit. The revenue of the company has been increased by 13 percent. After which the increment has been announced. TCS has reported nearly 17% growth in consolidated net profit at ₹11074 crore for the June quarter. However, as per the quarterly report, the net profit was recorded above the estimates while the net revenue was slightly less than the estimates. Sameer Seksaria, CFO of TCS, says that the annual increment has been implemented from April 1, while the company’s operating margin is 23.2%, which shows a 200 bps impact. This improved offset can be recorded through better efficiency in this.
Decision to increase the salary of employees by 12 to 15 percent
At the same time, it has been decided to increase the salary of the employees by 12 to 15 percent. It will be given to those employees who are doing exceptionally well. The process of promoting TCS and some of its employees has also been initiated. TCS has clarified that now fewer people are leaving the company and they expect the number of people leaving the company to return to its normal level in the second half of the year. With this increment, the salary of TCS employees will see a big increase. However, the salary hike of the employees has been denied by Infosys.
