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projects in 50 countries across the world, and revenues around $700 million. Among its clientele are number of Fortune 500 companies and it is in the league of 30 top IT consulting firms in the world. TCS today is an Indian enterprise with a global reach. Its hiring and people care practices are in line with the industry practices and the compensation model has been traditional. The company has now set its sights on becoming a truly global organisation. Its vision is to be among the top 10 IT consulting organisations in the world, a global employer of choice. EVA Based Compensation Model TCS is looking towards institutionalising leading edge practices in hiring, training, and people care, with and innovative EVA - based compensation model. The target model will be one that offers a high growth, high performance internal environment to empowered, proactive, highbrand consultants operating in a dynamic external environment. The individual works towards the improvement of the benefit package, which essentially has three components - the Corporate EVA, the Business Unit EVA, and the Individual Performance Factor. Out of the total EVA payment a certain percentage goes to each employee on the basis of corporate EVA improvement. Secondly, if your business unit did better than another business unit, then automatically you got more than the other business unit. Again it is a team reward concept. The third one depends on the evaluation of individual performance.
Bouquet of Benefits In order to attract new recruits as well as retain the existing talent, TCS, Asia’s largest IT services provider, has a scheme called ‘Bouquet of Benefits’ , which allows TCSers to design their own pay packets. Launched some six years ago, employees are allowed to make changes to their salary structure twice in a year. The flexible-benefit plan aids employees in working out their tax payouts. For instance, the employee can cap the amount on food vouchers and divert the rest to other benefits.
COMPENSATION STRUCTURE COMPONENTS Component.A Basic Salary Sub Total A Annual Basic Salary (A X 12) Component.Allowance/Reimbursement Special/Grade allowance/Personal Allowance House Rent Allowance Children Education Allowance Professional Dev.B:.Variable Pay . Reimbursement Food coupons Business Promotion Reimbursement Medical Reimbursement Driver Allowance Leave Travel Allowance Conveyance Allowance Petrol Reimbursement Others Sub Total B Sub Total (B X 12) Annual Fixed Guaranteed Cash (A+B X 12) Component C.
Valued Perquisites Company Car value Hard Furnishing/Assets Mediclaim Insurance Premium Telephone/Mobile Reimbursement Others Sub Total E Sub Total (E X 12) Monthly Total Cost to The Company (A+B+C+D+E) Annual Total Cost to The Company (TCC X 12) .Performance Pay Annual Bonus/Ex-Gratia Sub Total C Sub Total (C X 12) Annual Total Cash [(A+B) X 12]+[C X 12] Component D.Retirals Provident Fund Gratuity Superannuation Sub Total D Sub Total (D X 12) Component E.
many employees consider Medical reimbursements as a valuable benefit given the rising cost of health care. The funds received are tax-free. Bonuses are usually determined as a percentage of annual salary. Although these benefits are mostly employer-paid. other than pension distributions. Base salary does not include benefits. The allowance is typically a designated amount or percentage of total transportation expenses that is referenced in a country's tax laws or code. the employer has the right to cancel or alter the distributions at any time. A growing number of employers are reducing salaries and increasing the portion of compensation that's performance-based. Bonus: Bonuses are one of the ways employers reward their employees for a job well done. House Rent Allowance: House Rent Allowance (HRA) is given by the employer to the employee to meet the expenses in connection with rent of the accommodation. This gives them the emotional security and they feel themselves valued in the organization. Retirement Benefits: Benefits. retired employees often share in the cost of . paid to employees during their retirement years.Basic Salary: Base salary is a fixed amount of money paid to an employee by an employer in return for work performed. Even their dependents should be eligible for the medi-claims that provide them emotional and social security. Leave/Travel Allowance: Leave Travel Allowance (LTA) is granted by the employers to the employees as part of the remuneration to provide for travel expenses incurred during the year. but because the plan is employer funded. Insurance: Organizations also provide for accidental insurance and life insurance for employees. say at an interval of one year. Medical Reimbursement: As a benefit. bonuses or any other potential compensation from an employer. Most post-retirement benefits include life insurance and medical plans. children as well as dependent parents and siblings. such as bonuses. In spite of this. Leave Travel Allowance also covers such expenses of the spouse. an employee may be reimbursed for qualified medical expenses from his or her employer. though giving all employees the same monetary bonus is also an option. Conveyance Allowance: A conveyance allowance refers to an amount of money reimbursed to someone for the operation of a vehicle or the riding of a vehicle. Hospitalization: The employees should be provided allowances to get their regular check-ups.
payment of deductibles and making employee contributions to the plan when required. Provident Fund: The EPF is a scheme intended to help employees from both private and nonpensionable public sectors save a fraction of their salary every month in a saving scheme. This is an important part of creating wealth for your retirement . or for causing the event. Gratuity is a defined benefit plan and is one of the many retirement benefits offered by the employer to the employee upon leaving his job. The entitlement amount includes company air conditioners at residence. and the fuel if that is also provided for private use. Superannuation: Superannuation is a retirement Benefit by employer. to be used in an event that the employee is temporarily or no longer fit to work or at retirement. Hard Furnishing/Assets: Senior Management Personnel are entitled for certain assets under this scheme at their residence subject to a maximum amount mentioned below. It is a contribution made by employer each year on your behalf towards the group superannuation policy held by the employer. . Ex-Gratia: Compensation payments are often made ex gratia when a government or organization is prepared to compensate victims of an event such as an accident or similar. such as retirement/superannuation. Gratuity: Gratuity is a part of salary that is received by an employee from his/her employer in gratitude for the services offered by the employee in the company. but not to admit liability to pay compensation. Company Car Value: When a company car is made available for the private use of an employee a 'benefit in kind' value is calculated in relation to the car.these benefits through co-payments. Professional Development Reimbursement: The purpose of the Reimbursement of Professional Development Expenses Policy is to reimburse members for eligible professional development expenses which relate solely to those activities which enhance an individual’s performance. which was earlier given in addition to the hard furnishing assistance. for a better job elsewhere. Grade Pay: Grade pay’ means the basic pay drawn by a member of the Service in the grade in which he is appointed substantively. The assistance availed by the manager is renewable once in four years. on being retrenched or by way of voluntary retirement. ability or effectiveness. An employee may leave his job for various reasons.
. Once for completion of two years & another in April appraisal increment Salary of System Engineer in TCS (Experience of 3 year): Salary will be Rs 420000.TCS career ladder is like below: TCS New Fresher’s (Trainee) TCS Assistant System Engineer TCS System Engineer TCS IT Analyst TCS Assistant Consultant TCS Consultant TCS Senior Consultant TCS Principle Consultant TCS Vice president TCS MD Salary of a TCS new Fresher’s is Rs 325000-340000 /year Salary for M.Rs 580000 /year TCS employee be promoted to IT Analyst post after completion of 4 year Salary of IT Analyst in TCS (Experience of 5 year): Salary will be Rs 570000.Rs 460000/year Salary of IT Analyst in TCS (Experience of 4 year): Salary will be Rs 530000.E/B.Tech/Msc/MCA will be Rs 30000/year more than the mentioned salary Salary of a New Fresher’s in TCS (B.E/M.Rs 640000 /year Salary of Assistant Consultant in TCS: TCS associates above 7-8 years of experience & having Assistant Consultant receive salary of Rs 1000000 per year.TECH/B Sc/BBA): Salary of an Assistant System Engineer in TCS (Experience of 1 year): Salary will increase slightly to Rs 350000/year Salary of an Assistant System Engineer in TCS (Experience of 2 year): Salary will be Rs 380000-400000/year TCS employee will get two increments in this year.
com . After completion of 5 years in TCS.Salary of Consultant in TCS: TCS employee having Consultant post receive a salary of Rs 1200000.Rs 1400000/year Salary of Senior Consultant in TCS: TCS employee promoted to Senior Consultant receive a annual salary of Rs 1800000-Rs 1800000/year. TCS employees generally get 10% average increment in April every year.Rs 3000000. TCS MD salary & TCS Vice president has been decided by TCS board & is not disclosed. Salary of Principle Consultant in TCS: TCS employee promoted to principle consultant post receives an annual salary of Rs 2600000. Source: www.citehr.
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