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Cognizant, HCL give increments in a tough year

Cognizant, HCL give increments in a tough year
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First Published: Fri, Jul 24 2009. 10 34 PM IST
Updated: Fri, Jul 24 2009. 10 34 PM IST
Mumbai: In spite of an economic slowdown, software services firm Cognizant Technology Solutions Corp. has given pay hikes to its employees.
HCL Technologies Ltd has also said that it is giving out performance-based increments to all its employees.
Anand Pillai, global head, HCL Technologies, said: “Yes, we are giving out increments this year, which will be entirely performance based.”
But that’s not the only way the firm said it wants to take care of its staff.
The company is also looking at ways to reduce the burden of perquisites of tax on employees that came into effect after the removal of fringe-benefit tax—which was paid by companies—in the Budget for 2009-10.
“What we are doing right now is increasing the education component offered to employees,” said Pillai.
“We will offer certificate courses accredited from renowned institutions so that employees can avail these free of cost,” Pillai added.
Employees, therefore, will not have to pay a 30% tax on reimbursement of education fees.
cnbctv18@livemint.com
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First Published: Fri, Jul 24 2009. 10 34 PM IST
More Topics: CNBC-TV18 | HCL | Cognizant | Increments | Employees |