Infosys Hands Out September Quarter Bonus Of Up To 83% To Employees: Report

Infosys Ltd. has announced its September quarter bonus payouts to its employees, issuing letters on Friday across various job levels. The company has granted an average bonus of 75%, with some getting payouts as high as 83%, reports Economic Times.

The report cited employees who believe the bonus for the September quarter was slightly lower compared to the last quarter. According to an employee at level 4, the company has awarded 83% bonus to 'outstanding', 78.5% to those marked ‘commendable’, and 75% to employees who 'met expectations'.

Infosys did not respond to NDTV Profit's request for a comment.

The bonus payments declined with each job level, but overall average within all eligible categories remained 70.5-83%. Some employees believe their payout was 7-8% less compared to the April-June quarter, where the average bonus payout was around 80%, with the level ranging from 75-89%.

The report adds that the company has extended payouts to employees at job levels 4,5 and 6. These mostly include software engineers, team leaders and senior managers. These groups form the majority of Infosys' 3.23 lakh employees.

The payouts were handed on the basis of key performance-related categories such as 'outstanding', ‘commendable’, and ‘met expectations’, all of which were eligible for bonuses but to a varying degree.

These are percentages of the annual quarterly variable pay specified in an employee's compensation structure. For example, if an employee's offer letter stated an annual variable pay of Rs 1 lakh, then their quarterly payout would be Rs 25,000. Now, a payout of 75% would mean that the employee would receive Rs 18,750 crore for the corresponding quarter.

According to the report, Infosys plans to disburse the bonus amount to the salary accounts of employees in November. The bonus payouts are usually disbursed in the second month of each quarter.