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PwC announces one-time bonus for its 15,000 employees in India

PwC announces one-time bonus for its 15,000 employees in India

PwC announces one-time bonus for its 15,000 employees in India
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By CNBCTV18.com May 19, 2021 7:33:40 PM IST (Updated)

The bonus will be included along with the March 2021 salary. It is independent of the usual appraisal and increment cycle.

Audit firm PwC India announced a one-time bonus for its 15,000 employees on Thursday (March 11). This bonus is a token of appreciation for the employees’ work during the COVID-19 pandemic.

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The bonus will be equivalent to an employees’ two-week pay. It will be included along with the March 2021 salary. This bonus is independent of the usual appraisal and increment cycle.
Emphasising that 2020 was a very challenging year for business, Sanjeev Krishan, the chairman of PwC India, said in a statement that the company is proud and humbled by the way the employees “got together and ensured that we and our clients not only navigate the crisis well but also emerge stronger from it”.
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He added that the year the kind of “organisational and workplace overhaul that none of us anticipated”.
Last year, PwC India had deferred promotions, increments, and bonuses of its employees, as part of measures to conserve working capital in the middle of the pandemic.
Applauding the efforts of the employees further, Krishan said it was due to them that the company and its clients could emerge stronger from the crisis.
He added that it was because of such efforts that the company is on course to meet its goals and is optimistic about the year ahead. Krishnan, the newly elected India head of PwC, took over from Shyamal Mukherjee on January 1.
Last year, the company was among the first in the country to officially announce work-from-home for its workforce. It did so even before the government made work-from-home mandatory after a rise in COVID-19 cases. The company had also announced a special COVID insurance cover for its employees and their parents.
A few days ago, Deloitte India, too, announced bonuses and special increments over and above normal salary hikes, for its employees, indicating a bounce back in demand for advisory services as the economy continues to recover from the effects of the pandemic.
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