India has seen sectors such as GICs, Automobile, and Auto Ancillary, Consumer Durables, Retail, and Start-ups ramp up their hiring.
The IT industry continues to expand rapidly and is projected to grow by 10-12% by the National Association of Software and Services Companies (NASSCOM). There is also growing demand in the market for talent specializing in SDETs, Data Analytics, Cybersecurity. On the application space, Indian talent is typically strong with Full Stack, UI/Web Dev, QA Testers, and SDETs. On Network Infra space, Indian talent is strong in Cybersecurity, DevOps, and Cloud Infra role.
India has:
In India, talent can be differentiated from the colleges they come from and the companies they worked with.
Elite and Tier 1 Colleges:
These institutes are top of the line and considered to be the best schools in the country. They are popular among the recruiters in terms of brand value and education. These schools are very competitive and are very difficult to get into. A student needs to be in the top 1% or 2% to be eligible for an admissions call. Graduates typically get placed within top companies and are paid highly.
Tech Colleges:
Non-tech Colleges:
Tier 1.5 Colleges:
Tech Colleges
Tier 2 Colleges:
Tier 2 institutes have established their brand names and have consistent placement records. These institutes are in the second chunk (top 15- 30) in terms of rankings. Some institutes are old and a few are newly established and promising institutes. These institutes have above-average talents that get placed with good companies and have a good pay.
Tech Colleges
Non-tech colleges
Tier 3 Colleges:
Tier 3 colleges are still great places to learn and build a career. Some of them have a fantastic return on investment.
Tech Colleges
Non-tech Colleges
Further details about universities in India can be found on Webometrics.
More information about average salaries in other industries in India can be found on Salary Explorer.
Workers in this sector can expect a 6-10% appraisal hike with high performers drawing 11-15% hikes.
More information about job portals in India can be found here.
Top Recruitment Agencies: Placement Expert, Reflik, Alliance Recruitment Agency
*Only if the monthly salary of the employee is <RS15,000, otherwise subject to certain conditions.
The employer payroll tax can be found here.
*Only if the monthly salary of the employee is <RS15,000, otherwise subject to certain conditions. **Only if the monthly salary of the employee is >RS15,000, and employee is in Karnataka. Information on professional tax can be found here.
Foreign nationals in India are liable to pay EPF and income tax on India-sourced earnings.
India follows a progressive income tax model. Indian employees have an option of following the previous tax model or the recent tax model of paying taxes. Links to the employee payroll tax and employee income tax.
The minimum wage is 178 rupees per day (~US$2.40). However, it differs across different states based on industry and skill level of workers.
Paid monthly, from the 28th to last day of the month.
13th month salary
Depends on the country’s working culture. In general, if any employee works in a company with ≥ 20 people, and they earn less than 10,000 rupees per month, they are entitled to a bonus of between 8.33% and 20% of their annual salary.
Employee Stock Options
In India, a business that is listed in the Indian stock exchange must issue the stock options in accordance with the Securities and Exchange Board of India (SEBI)'s Employee Stock Option Guidelines.
Employees that fit the criteria for ESOP benefits in India are:
Employers cannot provide ESOPs to the following employee in India:
** The above conditions do not apply to Startups for a period of 10 years from the date of incorporation
Learn more about the procedure of issuing ESOPs in India here.
Statutory minimum: 1 day of paid leave per 20 days of service.
However, 24 days paid leave per year for adult workers is common and a maximum of 30 vacation days can be carried over to the next year.
Sick pay takes effect from 3rd day of illness at 70% of salary for a maximum of 3 months. However, different rules apply to different professionals.
For 1 child, the employee is entitled to 26 weeks of paid maternity leave. If the employee has at least 2 child, they are entitled to 12 weeks of paid maternity leave.
Not compulsory. Only male government employees are entitled to 15 days of paid leave.
There are 3 national holidays in India -
As a practise, an employee can follow client company holiday calendar/ parent company holiday calendar/ regional holidays/ bank holidays and are allowed to choose 5 leaves as per their location/will apart from the ones mentioned above.
If termination isn’t specified in a contract, an employer must give 30 days of notice or payment in-lieu to an employee who has worked for at least 3 months.
Notice period of 30 days. However, termination due to misconduct has no notice period.
15 days wages per year of service, if the employee has served the company for at least 5 years.
Not mandatory, but up to 3 months if probation is given.
There is no specific provision to provide employee insurance by the employer. However, in 2020 due to the onset of COVID-19, providing health insurance has been made mandatory as part of employee compensation (also known as Group Mediclaim Policy).
The Employee State Insurance (ESI) Scheme is financed by contributions from employers and employees. The rate of contribution by the employer is 4.75% of the wages payable to employees. The employees' contribution is at the rate of 1.75% of the wages payable to an employee. This can be availed by any employee earning a monthly income of Rs. 21,000 or less.
For employees earning a salary above Rs. 21,000, the employer must provide medical insurance coverage in collaboration with insurance agents that provide group medical insurance (such as LIC, PolicyBazaar, etc.) while keeping the contributions as mentioned above.
The standard Goods and Services Tax rates in India are 12% and 8%. The reduced rates are 5% and 0% for a few businesses in certain industries and sectors.