Shift Allowances and Compensations at FIS Pune Formerly Sungard

At FIS Pune, formerly known as Sungard, shift allowances are an essential part of the compensation system for employees working non-standard hours. These allowances aim to provide financial compensation for the additional challenges and COL associated with working at night or on weekends.

Types of Shift Allowances

Typically, FIS Pune and its predecessor, SunGard, offer a range of shift allowances to employees. These include:

Night Shift Allowance

Night shift allowance is a form of additional pay provided to employees who work during night hours, starting at a specific time such as 10 PM and continuing until 6 AM.

Weekend Allowance

Employees who work on weekends or public holidays also receive extra compensation to mitigate the inconveniences of working during these times.

Overtime Pay

Employees who work extra hours beyond their regular workweek receive additional pay, usually at a higher rate than their regular hourly rate.

Transportation Allowance

Some employees working late shifts might receive transportation allowances to help with travel costs. This could be in the form of a lump sum or reimbursement for actual expenses.

Shift Allowance Policies at FIS Pune

The shift allowance policies at FIS Pune vary based on different factors, including the specific role, department, and shift timings. The following details provide a breakdown of the shift allowance structure:

Morning Shift

The specific details about the morning shift allowances are not well documented. It is advisable to consult the HR department for accurate and up-to-date information, as policies may vary across teams and positions. However, based on the mention in the text, it seems that employees logging in before 7 AM may receive a certain amount of allowance, although the exact amount is not explicitly mentioned.

Regular Shift and Flexible Timings

The regular shift typically does not include any form of allowance unless specific conditions apply, such as working outside standard hours. The flexible timings may require additional allowances, but the details are not clearly outlined.

Afternoon Shift

Employees working in the afternoon shift from 1:30 PM to 10:30 PM receive a fixed allowance of 400 INR per day.

Night Shift

Night shift employees receive a higher allowance of 600 INR per day, typically starting at 10 PM and continuing until 6 AM.

Shift Allowance Structure for New Joiners

For new employees joining FIS Global Pune, the shift allowance structure can vary based on login times. The following details can help new employees understand their allowance:

1. Before 7 AM Login

If an employee logs in before 7 AM, they receive an allowance of Rs 400 per day.

2. 7 AM to 1 PM Login

Employees logging in between 7 AM and 1 PM do not receive any allowances.

3. 2 PM to 4 PM Login

Employees logging in between 2 PM and 4 PM receive an allowance of Rs 400 per day.

4. 5 PM and After Login

Employees logging in after 5 PM receive a higher allowance of Rs 600 per day.

It is important to note that all these amounts are subject to tax. Additionally, with 20 working days in a month and assuming an employee takes 2 days off, the total allowance would be 400 * (20 - 2) 7200 INR, excluding taxes.

Conclusion

Shift allowances play a crucial role in maintaining employee morale and loyalty. As policies can vary, it's always best to consult the HR department or the employee handbook for the most accurate and up-to-date information. Understanding these allowances can help new and existing employees plan their financial aspects accordingly.