Great News For Employees, 80% Variable Pay Will Be Paid Along With Salary, Possible increase in Salary Up To Rs 12k
Employees Salary Hike, Infosys Variable Pay : There is good news for private sector employees. There will be a huge increase in his salary. For this, information has been sent to them by the company through email. 80% of the variable pay will be paid by the company to its employees.
Net profit records 11% in Q1 of FY24
An email has been sent to the employees regarding this by IT company Infosys. The email read that after doing well in FYQ1, a strong foundation was laid for future expansion. The company has recorded a net profit of 11% in Q1 of FY24, which is Rs 5945 crore. In terms of revenue dollars of the IT company, 4617 million dollars have been recorded. At the same time, the operating margin for the quarter has also been recorded at 20.8 percent.
Payment of 80% of the amount of variable pay
Indian IT services major Infosys Ltd will pay 80% variable pay to employees for Q1 ending June 30. It is to be paid to the employees along with their August salary. Along with the salary for August, 80% of the variable pay amount will be paid into the account of the employees. Along with this, an increase of 10 to 12 thousand rupees will be seen in the salary of the employees.
The HR team of the company has clarified in its email sent to the employees. That the variable pay roll out is being made available to employees based on good performance in the June quarter of FY2024. Let us tell you that in Q4 of 2023, an average variable salary of 60% was paid by Infosys to its employees. The same has recorded a huge increase in Q1 of 2024.
Who will get benefit
The decision to pay variable pay has been taken after the company posted good results in the June quarter, including good performance by its employees. Infosys has recorded 11% net profit in the first quarter of the current financial year. According to the company's CEO Salil Parekh, during the first quarter of the current financial year, the company has seen a growth of 4.2% and bagged big deals worth $2.3 billion.
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Salary can increase from 60 to 75k rupees
With this announcement made by the company, a significant increase in the salary of the employees working in Infosys will be recorded. Due to the payment of variable pay on the basis of performance, their salary can increase from 60 to 75k rupees.
Posted Date: August 24, 2023
Publish Date: August 24, 2023
Posted By Ravi Kumar
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