TCS has set aside Rs. 1,100 crores towards interest free cash loans to its employees affected by worst flood in Chennai. The interest free loan amounted up to maximum 1lakh or 3months of gross salary would be disbursed to employees from December 14. onwards The loan recovery will start from April 2016 salaries.
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The company also announced Rs.50crores to the immediate expenses to employees who have been severely affected by the floods up to a maximum amount of Rs 15,000 per person. The company announced that the bus transportation until December 31 would be free of cost to employees. This announcement came aftermath of the relief fund announced by its rival Cognizant to the tune of Rs.260crores to its Chennai employees.
The slew of generosity not only limited to its employees but also vowed to continue to help to the strained people in way of providing food, installation of several RO Plants to provide drinkable water to the communities in need of water, distribution medical kits and school text books etc.
