I have joined in DEC 2024. Now Performance review has started, Will I get appraisal for period from my joining date?

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You need to be at least an year old in the company for that.

if someone joined in March 2025, would they be ineligible for the January 2026 appraisal?

This is halfy yearly review. You won't get any hike now.
Hike will be only applicable for full year reviews in Jan

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