Tata Consultancy Services sets aside Rs 1,100 crore to help flood-struck Chennai employees

MUMBAI: Tata Consultancy Services has set aside Rs 1,100 crore for interest free salary advances and is creating a Rs 50 crore direct grant fund to help employees hurt by the floods in Chennai.

In a post on the company's internal communication portal, CEO N Chandrasekaran said the cash advances would be in the range of Rs 1 lakh to a maximum equivalent of three months gross salary. ET accessed a copy of the internal announcement.

"We hope these measures will help TCSers and our support staff get back on their feet quickly and put this traumatic experience behind us," the company said in a statement to ET.

TCS will also give an ex-gratia grant of one-month's salary upto Rs 15,000 for TCS support and service staff. The company will also reimburse medical claims.

The company will also conduct free medical camps and continue to offer free bus transportation.

The company will also help citizens by distributing school and medical kits and creating a course of action for the medium term.

TCS is the second IT company to announce an aid package, following on the heels of USlisted rival Cognizant which created a more than $40 million pool.

Chennai is home to about 15% of India’s more than 3 million strong IT population.