Infosys latest update: The salary hike is planned in a phased manner, the second phase of which will start in April 2025. In the financial year 2025, most IT companies except TCS delayed the salary hike cycle.
Infosys latest update: Infosys, the country’s second IT company, has started implementing the salary hike of its employees. Infosys started implementing the salary hike on 24 February. According to a Moneycontrol report, the salary hike ranged from 5 per cent to 8 per cent. The report said that exceptional performers have received a salary hike of about 10-12 per cent. Infosys has placed the salary hike in four categories – excellent, commendable, met expectations and needs improvement.
The second phase will start in April 2025
According to the report, the salary hike for employees in band JL6 and below has come into effect from April 1. On January 16, the company said that it would start a 6-8 percent annual salary hike for its employees in India from January 2025. The salary hike has been planned in a phased manner, with the second phase starting in April 2025. Let us tell you, in the financial year 2025, most IT companies, except TCS, delayed the salary hike cycle. Usually it happens at the beginning of the financial year.
Initiative for employees falling in the taxable income bracket
More than 3.23 lakh professionals are working in Infosys. The last salary hike was implemented in November 2023. The company will provide allowances and other benefits to employees falling in the taxable income bracket to compensate for the low salary hike. Infosys Chief Financial Officer Jayesh Sanghrajka had said that broadly, we are expecting an annual salary hike of 6-8% in India. The overseas salary hike will be in line with earlier salary reviews.
Infosys’ quarterly results
In the third quarter ended December, Infosys reported an 11.4 percent rise in net profit to ₹6,806 crore as against ₹6,106 crore in the same period a year ago. Revenue stood at ₹41,764 crore in the quarter under review, up 7.6 percent over last year. Revenue in constant currency (CC) terms grew 6.1 percent over last year, while declining 1.7 percent sequentially.
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