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Hi All,
Persistent Systems is giving 10% variable on gross annual CTC. HR says you would receive minimum 70% of variable pay every month and remaining 30% will credited once a year at the end.
Does anyone has idea on this? Can I believe this and include 70% variable in my take home
Persistent Systems Limited
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In HCL, there's no additional bonus. Yearly bonus is a part of your remuneration/ctc mentioned under variable pay component in the OL. Even for an outstanding performance(top 2 ratings) you'll get your variable pay + max 10% of variable pay as bonus(That too if your manager is extremely generous). Eg if your variable pay is 1 lac then your annual bonus can be max 10k.
If rating is less than top too, they'll be a deduction in variable pay component. Also, management/HRs will keep coining the term 'normalising the ratings' which implies no matter how well you perform throughout the year, during appraisal your rating will be whatever management feels like giving you. In short, HCL has one of the most biased appraisal process.
It's based on ratings , in my case it was 75%,80%,85% in last three years respectively
It was GP in all three years.