India’s software services major Tata Consultancy Services (TCS) announced that it is setting aside Rs 1,100 crore in order to provide interest free salary advances to its staff in the flood-hit Chennai.
The CEO and Managing Director of TCS, N Chandrasekaran, informed the employees that the company is prepared to offer interest free salary advances up to Rs one lakh or amounts equivalent to three months gross pay.
Chandrasekaran said the salary advances will be disbursed to those who apply from December 14. TCS also plans to disburse up to Rs 50 crore as direct grants to the company’s employees whose houses suffered the most.
In addition to this the company is providing several other benefits to its employees.