Recently, IT firm Cognizant has announced to donate Rs 260 crore ($40 million) to undertake relief and rehabilitation in flood hit Chennai. Now, India’s top software firm Tata Consultancy Services (TCS) allocates Rs 1,100 crore for providing interest free salary advances to its employees in Chennai.
N Chandrasekaran, CEO and Managing Director of TCS, said the company will offer interest free cash advances in the range of Rs one lakh and up to a maximum of equivalent to three months gross salary. Those who apply for the advance salaries will get the amount from the week of December 14.
Apart from this huge assistance for its employees, TCS has also set aside Rs 50 crore for direct allowance to its employees who have suffered wide-range damage to their homes. TCS will also reimburse medical and hospitalization expenses over and above its medical insurance claims.
“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,” said TCS in a statement.
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