Need Help with Offer
Can anyone from TCS tell me what will be the in hand salary for this breakup:
I'm currently getting exactly 50k in hand at Cognizant with 2.1 YOE. I got this offer from TCS, I know they lowballed me pretty bad(they initially offered 10 lpa but later said they couldn't get it approved). Should I accept this offer and look for better offers while on NP?
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You will get 61399 every two months and 71899 every third month.
How?
Sorry, you will get 57899 2 months and third month would be 68399. Your annual salary is 758388 considering others deductibles. From 758388 minus 21600 (Yearly employee pf contribution) minus 42000 ( Performace bonus credited on end of quarter for 3 months) = 694788. To calculate monthly in hand: 694788/12= 57899. Every quarter end 57899+10500 ( Performance bonus for 3 months 3500×3) = 68399. Hope this helps!
Take this offer, show it, and get a better offer. You can get many people who said they didn't get a joining date for months after being offered a job in TCS. So consider this as your insurance policy as of now, get in the ground and get some better offers.
Dont join tcs
You will get 56k around
Just divide by 14
seems like ,54.66 each month. as far as i have heard, the performance pay is a quarterly pay. may not be quarterly in your case.
without performance it's 54.66k, adding performance its ~63k.
salary doesn't fall in tax brackets, so no need to worry about that. also food card may not be paid in cash, so you can deduct 500 from the calculation above.
Divide your ctc with 15 to get a rough idea.
From total monthly, subtract monthly performance pay, 12 percent of basic (PF) and monthly health insurance premium. The monthly performance pay would be paid every 3 months as 15k. So your salary would be around 52-53k per month, and 67-68k every 3rd month. I think it's a really poor offer from TCS, but this is what they are known for, cost cutting and being MFs. Don't resign for this stupid ass offer, keep looking.