TCS says no change in increment policy, pay hikes on for experienced hires

India's largest software services firm Tata Consultancy Services (TCS) said there are no changes in its increment policy for employees,

The company said, "We have always had increments in line with industry benchmarks. Even during the pandemic, we ensured our increment cycles were unaffected. It is incorrect to suggest otherwise"

And also said "All experienced hires will be given an increase as part of the annual salary appraisal that follows their one-year anniversary."

"There has been a recent revision in TCS policy around the first anniversary," said a letter sent to the employees.

The letter states that those who have completed their first year on April 1 or thereafter will not receive a letter and/or increment on completion of one year.

"The first increment will be at the subsequent annual increment cycle," said the letter.

The changes in policy come at a time when the tech sector is gearing up for budget constraints against a recession in the US.

There were reports that TCS deferring quarterly payouts and bonuses by a month to August

However, TCS denied it, saying the variable is paid in month one or two as per the normal process