Diwali : Many companies to stop pay cut, will also give bonus to employees
Mumbai: The economy, which was crippled by the Corona epidemic, seems to be recovering gradually after the country entered the unlock phase. It is seen that the country is being rebuilt with new vigor. An atmosphere of trust has been created among the people and the great enthusiasm is being seen in the market. This is beginning to have positive effects. Some companies have started giving Diwali bonuses to employees. Apart from this, it seems that the companies will stop the pay cut and will consider the pay hike for its employees.
Companies like Voltas and Vijay Sales have given Diwali bonuses to employees. The Urban Company has recently introduced a pay rise cycle.
Just last week, Reliance Industries withdrew its pay cut from its employees in the hydrocarbon business. In addition, variable salary has also been paid. Also, 30 per cent of the total variable salary will be paid in advance. Kotak Mahindra Bank has also withdrawn the pay cuts of senior office bearers. This decision will be effective from October 1. Similarly, companies in the telecom sector have taken a similar decision, while some companies will also deposit a 50 per cent bonus in employees’ accounts before Diwali.
During the Corona crisis, the staff worked very hard. Employees were available to serve customers. Employees also did not stop supporting during the crisis. Therefore, it is the role of many companies to provide financial relief to their employees for a big festival like Diwali. The economy is also improving.