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Chennai Floods: TCS grants three-months salary advance
By: Tupaki Desk | 11 Dec 2015 10:30 AM GMT
Country's largest software services firm Tata Consultancy Services (TCS) has come forward to show concern for its employees who affected with recent floods in Chennai. The company has announced three months advance salaries to its employees and set aside Rs. 1,100 crore for the purpose.
CEO and Managing Director N Chandrasekaran has announced this In an internal communication to employees.The interest free cash advances will be provided in the range of Rs one lakh and up to a maximum of equivalent to three months gross salary. Employees need to apply for and they will start receiving payments starting from December 14.
However, those who availed advance payment will have to start repay these interest-free-loans from April 2016. The company also created a direct grant fund worth Rs. 50 crore to help employees affected by the recent floods in Chennai.
The company also announced that it will conduct free medical camps and also offer free transport. Medical claims of the service staff will be reimbursed and an ex-gratia of up to Rs. 15,000 will be granted.TCS becomes the second company to announce aid packages for employees and medical assistant. Earlier CTS had announced close to $40 million as an aid package to employees.
CEO and Managing Director N Chandrasekaran has announced this In an internal communication to employees.The interest free cash advances will be provided in the range of Rs one lakh and up to a maximum of equivalent to three months gross salary. Employees need to apply for and they will start receiving payments starting from December 14.
However, those who availed advance payment will have to start repay these interest-free-loans from April 2016. The company also created a direct grant fund worth Rs. 50 crore to help employees affected by the recent floods in Chennai.
The company also announced that it will conduct free medical camps and also offer free transport. Medical claims of the service staff will be reimbursed and an ex-gratia of up to Rs. 15,000 will be granted.TCS becomes the second company to announce aid packages for employees and medical assistant. Earlier CTS had announced close to $40 million as an aid package to employees.
