Infosys offers up to ₹8 lakh to employees to relocate to Karnataka’s Hubballi. Here’s why

Infosys' relocation initiative aims to draw employees from the Mumbai-Karnataka region to consider opportunities in Hubballi.

Livemint
Published18 Jun 2024, 10:13 PM IST
FILE PHOTO: A man walks past a billboard of Infosys Technologies Ltd's office in Bangalore
FILE PHOTO: A man walks past a billboard of Infosys Technologies Ltd’s office in Bangalore(REUTERS)

As Infosys aims to strengthen its operations in Karnataka's Hubballi, the IT company is offering a lucrative transfer policy to incentivise its employees to relocate to the tier-2 city.

This is a part of Infosys' strategic intent to establish offices in several tier-2 cities, including Indore, Navi Mumbai, Nagpur, and Coimbatore in 2023.

Also Read | Infosys Share Price Highlights : Infosys closed today at ₹1497.65, up 0.61% from yesterday’s ₹1488.55

Who all are eligible for the transfer policy?

The transfer policy reportedly targets employees handling project deliveries from any of Infosys development centres across India.

Only employees at band 2 and above are being targeted.

What is the transfer policy?

According to this transfer policy, employees at band 3 and below are entitled to receive an initial relocation allowance of 25,000. This will be followed by an additional 25,000 every six months for the next two years, culminating in a total of 1.25 lakh after 24 months.

Also Read | Infosys to declare Q1FY25 results after board meet on THIS date; What to expect

However, for Infosys employees at higher bands than 3 (4 through 7), the relocation allowance can go up to 8 lakh, inclusive of the initial relocation allowance, by the end of the same period.

What is the aim of Infosys transfer policy?

This initiative aims to draw employees from the Mumbai-Karnataka region to consider opportunities in Hubballi.

It also allows the employees to continue working on their current projects from Hubballi, thereby optimising the use of the facility’s modern infrastructure and reducing operational costs.

Also Read | 10,000 freshers from major IT firms Infosys, Wipro & TCS await onboarding

Karnataka Minister lauds initiative

Lauding the initiative, Karnataka Minister MB Patil, said in a post on X: “Hubballi Set for Growth: Infosys Spurs Local Growth with Incentives. I applaud Infosys for offering incentives to employees transferring to its Hubballi campus. This move encourages local talent from the Kittur Karnataka region to explore opportunities closer to home, fostering community ties and local development."

"Infosys' commitment to state-of-the-art campuses and employing thousands of engineers globally exemplifies its leadership and positive impact on regional economies. This initiative not only supports local growth but also showcases Infosys' dedication to innovation and employee welfare in the tech industry,” he continued.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.MoreLess
First Published:18 Jun 2024, 10:13 PM IST
HomeCompaniesNewsInfosys offers up to ₹8 lakh to employees to relocate to Karnataka’s Hubballi. Here’s why

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel

    157.75
    03:43 PM | 19 JUL 2024
    -8.6 (-5.17%)

    Tata Power

    414.15
    03:59 PM | 19 JUL 2024
    -15.85 (-3.69%)

    Bharat Electronics

    306.30
    03:45 PM | 19 JUL 2024
    -7.2 (-2.3%)

    Zee Entertainment Enterprises

    137.55
    03:57 PM | 19 JUL 2024
    -4.9 (-3.44%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Tata Teleservices Maharashtra

    102.11
    03:59 PM | 19 JUL 2024
    4.68 (4.8%)

    Rail Vikas Nigam

    614.00
    03:59 PM | 19 JUL 2024
    27.65 (4.72%)

    Jubilant Pharmova

    752.25
    03:43 PM | 19 JUL 2024
    25.3 (3.48%)

    One 97 Communications

    458.70
    03:55 PM | 19 JUL 2024
    13.65 (3.07%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      75,217.00292.00
      Chennai
      75,657.001,099.00
      Delhi
      74,485.00-659.00
      Kolkata
      74,485.00-73.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.75/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00
      OPEN IN APP
      HomeMarketsCibilPremiumBudget