TCS offers 12-14% increase in salary to employees?

Indian IT services and consultancy provider Tata Consultancy Services (TCS) has increased its annual salary for all its employees effective April 2021 — in India and abroad.
TCS Netherlands
TCS did not reveal the specific increase in pay package to its employees. Media report said that salary increase could be in the 12-14 percent range.

India-based TCS has 469,261 employees at the end of December 2020. TCS earlier said woman employees represent 36.4 percent of its total number of employees. TCS has workers from 147 nationalities.
TCS employee growth
“We can confirm that we are on track to give increments to all associates across our geographies, in line with our benchmarks. We are thankful to all our associates for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these trying times. This step is a reflection of our steadfast commitment to our associates,” TCS said in a statement.

This is the second increase in annual pay package by TCS in the last six months. TCS had earlier said that it has rolled out salary increase with effect from October 1.

Other IT services companies, including Infosys and HCL Tech, had also announced hike in salaries from January. IT companies have seen an uptick in demand for their services, which has resulted in the salary hike.

TCS reported 7 percent increase in net profit for the quarter ending 31 December, 2020 at Rs 8,701 crore.