Can someone explain how appraisal cycle works in Ey gds?
N which cycle counts most important

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Oct-Sep is the cycle. All the promotions/progressions/hikes will be effective Oct.

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Not 4, there will be 3 feedback cycles in an year, and based on these, your performance is assessed with peers and rating is given. Being in Assurance, Q3 feedback is the most important for us, not sure how it is for other SLs.

Rating - Exceptional Contribution (EC) being the highest followed by High Contribution (HC) and Valued Contribution (VC). Majority would fall under VC category, few under HC and very very few under EC. Not just the feedback, it all depends on how your counselor presents you to the senior management.

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