Hyderabad, July 16 -- In good news for TCS (Tata Consultancy Services) employees, the corporate giant has announced a 100 percent quarterly variable pay for more than 70 percent of its employees for the April-June period.

Company's chief human resources officer, Milind Lakkad, sent a mail which read, "All employees up to C2 grade (or equivalent grades) covered under the QVA plan will receive 100 percent of the Quarterly Variable Allowance (QVA). The individual pay-out for the C3 grade and above may vary, depending on business performance."

TCS said the decision was made "in line with our standard practice across quarters."

Variable pay

Variable pay is defined as additional money that a company gives to its employees every three months...