India’s biggest software maker Tata Consultancy Services has set aside Rs 1,100 crore (Rs 11 billion) for interest-free salary advances to its employees and to help those affected by Chennai floods.
In a post on the company’s internal communication portal, CEO N Chandrasekaran said the cash advances would be in the range of Rs 100,000 to a maximum equivalent of three months gross salary. Advances will be disbursed from the week of December 14 to those who apply.
“Many of our colleagues and our support staff have shown the greatest spirit and commitment in these challenging times to display all that is great about this company. We hope these measures will help them and many others get back on their feet quickly and put this traumatic experience behind us,” Chandrasekaran said in his letter.
The company will recover advances given to its employees in 12 months after 1 April, 2016.
TCS will also give an ex-gratia of one-month’s salary up to Rs 15,000 for its support and service staff and reimburse their medical claims. It will conduct free medical camps and continue to offer free bus transportation.
TCS employs more than 60,000 people across its 13 centres in Chennai.
Apart from this, TCS Foundation will collaborate with Tata Sustainability Group and NGOs to provide drinking water, school bags and medical kits to the needy.
Earlier, IT major Cognizant announced $40-million (Rs 260- crore) fund to help employees and residents in Chennai.
Meanwhile, Tamil Nadu government on Thursday said torrential rains claimed 347 lives in Chennai.
Over 17 lakh (1.7 million) people are still in the relief centres.
The government has confirmed 347 deaths even as several people are missing.
Massive rescue operations involved 12 columns of army, 48 NDRF-teams, 400 navy & coast guard personnel, five helicopters from air force, two helicopters from coast guard and two helicopters from navy.