Is TCS giving 100% variable pay, Massive salary hike to employees? Here's what you want to know

Denying the news of 100% variable pay and massive salary hike to employees by TCS, a source close to the affairs, has told Zee Media that it is not true.

TCS to give 100% variable pay to its 70% employees as New Year gift.

New Delhi: Reports have been circulated in media recently that software giant Tata Consultancy Services (TCS) has given the Christmas and New Year gift to its employees by hiking salary up to 20% and offering 100% variable pay. It also said that 4 lakh employees out of 6 lakh will get the bonus in form of 100% variable pay for fiscal year 2022. However, a source close to the affairs, has told Zee Media that the news isn't true. 

Earlier media reports also said that remaining 30% employees will get the variable pay on the performance basis. According to reports, TCS has offered a 20% Christmas salary increase for 70% of its employees and a performance-based raise for the remaining staff. However, the company hasn't announced anything to employees. These reports circulating in media aren't true. 

It is to be noted that Wipro and Infosys reduced variable compensation for its employees in the first quarter.