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The Engagement Performance Bonus (EPB) is a performance-linked variable pay as per the employee contract of HCL. By changing the HR policy, now the basis for giving EPB has been changed. This will reduce the monthly salary of some employees.
New Delhi. Veteran IT company HCL Tech has changed its HR policy. Due to change in its human resource policy by the company, the salary of many employees of the company will be reduced. HCL has changed its policy related to Engagement Performance Bonus (EPB). Engagement Performance Bonus is a part of the variable pay of the employees. The company has now decided to pay EPB on a quarterly basis instead of monthly.
EPB will not only be paid on a quarterly basis now but it will not be given to the employees present on the bench. The effect of this will be that they will get less money as monthly salary. Earlier, the company used to pay EPB on a monthly basis. HCL says that it had paid 100% EPB to all employees during the Corona pandemic without evaluating their performance. Now that the crisis has passed, he has made some changes in his original policy.
Salary will be affected
According to a report in Business Today, the company has given information about the change in EPB to the employees through email. It is written in the mail that from April 1, 2023, EPB will be paid to the employees on the basis of quarterly manager feedback in My Performance. There will be a score based performance review at the end of every quarter. EPB will be determined on the same basis. On the other hand, as long as the employees are on the bench, they will not be paid EPB.
EPB will not be available if you leave the job in between
It has also been said in the new policy of the company that if the employee leaves the job in the middle of the quarter, then he will not be given the benefit of EPB. The company says that EPB is usually 3 to 4 percent of the total compensation given by the company.
At the same time, Harpreet Singh Saluja, President of Employees Union Information Technology Employee Senate, said that a complaint will be made to the Ministry of Labor against the new policy of HCL Tech. Ministry will be sought to intervene in this matter to safeguard the interests of the employees.