Good News! Salary will increase this year, these private companies start increment process

Due to Coronavirus epidemic and lockdown, every working person is feeling that this year will have to work on old salary only. Due to the stagnation and lack of business for almost four months, it was feared that the increase in salary is impossible. But in the meantime a good news has come. This year too, the salary of workers is increasing. Many well-known companies have started the appraisal process ..

These private banks started

All the private banks of the country like ICICI Bank, HDFC Bank and Axis Bank have announced to give increment to their employees. All these banks have announced increment to their officers and employees this year despite lockdown and less business. ICICI Bank, the country’s largest private bank, has announced 8% increments to its employees and officers.

Salary will also increase in auto sector

In the last quarter, the biggest loss has been to the carmaker companies. Despite this, these auto companies have decided to increase their salary to increase the morale of their employees. According to the information received, Maruti Suzuki will increase the salary of its employees and officers in the month of August.

However, given the slowdown this year, the salary increase will be less than the previous year. On the other hand, the recently launched companies KIA Motors and GM Motors have already increased their salaries.

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Let it be said that all the major rating agencies have expressed the possibility of economic slowdown in the country due to the lockdown. Due to the closure of everything in the last four months, this year many companies have deferred the proposal to increase salary for next year.