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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)
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Business Standard
06-05-2025
- Business
- Business Standard
TCS pays 100% quarterly variable allowance to over 70% of employees
The company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units Press Trust of India New Delhi Tata Consultancy Services has 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. 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. The company added 625 employees in the quarter, bringing its total workforce to over 6 lakh. 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.
NDTV
06-05-2025
- Business
- NDTV
TCS Pays Full Quarterly Variable Allowance To Over 70% Of Employees
New Delhi: Tata Consultancy Services has paid out 100 per cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January -March quarter. 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. The company added 625 employees in the quarter, bringing its total workforce to over 6 lakh. 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.
Time of India
06-05-2025
- Business
- Time of India
TCS rolls out full variable pay to 70% of workforce
India's largest IT firm Tata Consultancy Services (TCS) has rolled out 100% quarterly variable pay to 70% of its employee base while the rest of the employees have received variable pay in the lower range and depending on the performance of their respective business units.'We have paid out 100% QVA (Quarterly Variable Allowance) to over 70% 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 April, the company management spoke about a delay in the annual wage hike amid the macro environment considering the uncertain business environment. 'We will decide within the year when to make that happen,' chief HR officer Milind Lakkad had said during the quarterly results earlier this year. The grade structure at the Tata subsidiary typically starts with entry level at Y as trainees, Systems Engineer roles at C1, which goes up to C2, C3 – A&B, C4, C5 and CXOs. Employees in the C3B and above band are likely to fall in the senior category. With nearly 6.8 lakh total employees, between January to March, TCS added 625 employees and 6,433 were added in the full year starting April 2024. 'Many employees from business units with good performance such as BFSI (banking, financial services and insurance) have been granted 100% of the variable pay while those segments or verticals which have reported poor growth performance have given their employees lower payouts,' an employee said. The lower QVA is in line with the performance of the company and the industry especially which dipped in the first quarter due to the tariff impact that slowed the expected business demand. In the fourth quarter ending March, the IT bellwether reported a weaker-than-expected performance with net profit falling 1.68% year-on-year (YoY) and 1.26% sequentially to Rs 12,224 crore. Revenue from operations, meanwhile, rose 5.3% YoY and 0.8% quarter-on-quarter to Rs 64,479 crore. A large part of the business demand slowed in key sectors such as consumer, life sciences & healthcare, manufacturing, communications and media. Last year, some employees witnessed a reduction in variable pay for non-adherence of its Return-To-Office (RTO) policy mandating to work from office five days a week. TCS had linked the QVA to a minimum 85% attendance of employees in office for them to receive full quarterly variable pay. Further, non-compliance of the policy may also lead to disciplinary actions being taken, the company had said.
Time of India
05-05-2025
- Business
- Time of India
Third time in a row, TCS slashes variable pay for senior employees
Tata Consultancy Services (TCS) has slashed variable pay for its senior employees for the January-March quarter, reports MoneyControl. This will be the third quarter in the row when the country's largest software exporter has cut variable pay for certain employees. The report quotes a TCS employee who said 'For senior employees, variable pay forms 15-20 percent of the CTC (cost to company). They (the company) have been deducting the QVA for over a year now. In the last quarter, I got about 20 percent of my variable pay out'. 'The junior level employees either have no variable component in their salary or the percentage and corresponding amount is quite small,' the employee told the publication. The company had previously cut variable pay of senior staff for July-September and October-December quarters in 2024. Some employees then received only 20-40% of their quarterly variable allowances (QVA). TCS ties variable pay to office attendance Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo TCS changed its variable pay policy last year, linking it to how often employees come to the office. The new rule, which came into effect in April 2024, sets different payout levels based on attendance. Employees who come to the office less than 60% of the time will not be eligible for any variable pay. Those with attendance between 60% and 75% will get 50% of their variable pay. Employees who attend between 75% and 85% of the time will receive 75%. Only employees who come to the office more than 85% of the time will get the full variable pay, the rule then said. Salary hike delay at TCS Last month, TCS announced that it will defer employee salary hikes that were scheduled to begin in April 2025, citing global economic uncertainty and tariff concerns. Speaking at the company's post-Q4 earnings press conference in Mumbai last month, Milind Lakkad, Chief Human Resources Officer, said 'Because of the uncertain environment, we will decide during the year on wage hikes. It can be at any time, depending on business'. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
