India's second-largest software exporter Infosys has announced that it will increase the fixed component of salaries, helping reduce uncertainty for employees by giving them a higher guaranteed pay, Economic Times reported.
At senior levels, the variable component was reduced up to 15 percentage points and by 7 percentage points at junior levels. The new compensation structure will be effective July 1, and coincide with the salary increments that were announced on Thursday. Infosys had announced average wage increments of 8% for employees in India and 3% for onsite employees.
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