Tata Consultancy Services (TCS) has set aside Rs 1,100 crore for interest-free salary advances for its employee and it is also creating a Rs 50 crore direct grant fund to help employees hurt by the floods in Chennai.
What the actual story is?
According to company statement cash advances would be in the range of Rs 1 lakh to a maximum equivalent of three months gross salary. TCS will also give an ex-gratia grant of one-month’s salary up to Rs 15,000 for TCS support and service staff. The company will also reimburse medical claims.
The company will also conduct free medical camps and continue to offer free bus transportation.