HCL Diwali bonus to employees
By Sumir Singh

One of India’s most successful majors HCL Technologies Ltd has posted a 50 percent year on year jump in net profit to Rs 496.7 crore for the first quarter ended September 30, 2011.  The figure for same Quarter was Rs. 331 crore in 2010. HCL told WSJ in Oct that it had joined the ‘No Diwali Bonus’ Camp. But a Techgoss Tipster says HCL has given much to its workers this Diwali.

Regular readers of Techgoss are well aware that a large number of our articles are crowd sourced.  People send in tips, story ideas and even articles. Many of our contributors have full times jobs in IT - ITES, and so prefer using a pseudonym.  A Tipster wrote in

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Wall Street Journal (WSJ) published last week that ‘some companies like IT major HCL Technologies Ltd. have recently joined the no-Diwali bonus camp. “Starting this year, HCL employees have decided to donate this Diwali fund to the HCLT Foundation,” an HCL spokeswoman wrote in an email. The foundation helps run various programs for the underprivileged.’

But HCL Technologies has gifted much to its employees this month of Diwali.  Each Employee will get price equivalent of 5 to 10 Shares of the Company.  The exact number of the Shares a person gets will depend on their tenure and performance.  However, each will get a minimum amount equivalent of 5 Shares. 

The amount will be credited in the next payroll for the employees who have completed 12 months with HCL Tech.  New Joinees will get their bonus after completing 13 months. Every employee who was on the Payroll as of Oct 14 is eligible.

Officially, the traditional Diwali Bonus has been given to HCL Trust and will be gifted to orphaned children.

So, even when HCL Tech was telling Wall Street Journal that it has a ‘No Diwali Gift policy’, it gave us a huge gift in the form of bonuses in the month of Diwali
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You too can get Rs. 1000 for just telling me about the Diwali gifts you will receive at your IT / BPO / KPO company. Anonymity guaranteed.

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