New Delhi: India's largest IT services firm Tata Consultancy Services (TCS) has stretched its hand to help its flood-struck employees. The company has set aside Rs 1100 crore for giving interest-free advance remuneration to its Chennai employees who were affected by the flood.
TCS communicated its decision to its employees in which CEO and Managing Director N. Chandrasekaran said the company will offer cash aid up to an equivalent of three months’ total salary. For this, the company will keep aside Rs. 1100 crore and the money will be distributed from 14th December to those who apply.
Apart from this, TCS has also set aside additional Rs 50 crore as direct grants for employees whose homes were damaged extensively due the floods. "Ex-gratia of one month's salary up to a maximum of Rs 15,000 for TCS support and service staff who have been impacted," the communication said. TCS will also provide compensation for the medical and hospitalisation expenses (excluding the TCS medical insurance claims), it said.
"To decide on a course of action for the medium term, TCS is conducting a survey of dwellings in hamlets in and around Chennai for damage assessment. Development of a plan of action for rehabilitation and rebuilding of the surveyed areas is currently underway," it said.
The deluge in Chennai had compelled companies there to remain closed. However, IT companies, including TCS, had said there was no disruption to work on important projects and operations support.
Another IT firm Cognizant, which is one of the largest employers in the region, has promised Rs 260 crore ($40 million) to undertake flood-relief operations.