Infoscions to benefit on Infy's 30th birthday

BANGALORE, INDIA: Infosys Technologies, which enters its 30th year of operations on July 2, will recognize the contribution of the employees on this occasion.

On this occasion, in recognition of the contribution of each Infoscion towards the company’s success, the trustees of the Infy Employee Welfare Trust have decided to distribute the corpus of the trust held in the form of equity shares to the employees of Infosys Technologies and its subsidiaries, Infosys said in a statement. Infy Employee Welfare Trust is an independent trust.

Also read: Infosys board to retire in 2014

All employees of Infosys and its subsidiaries who are on the rolls of the company as of March 31, 2010 and who are not under the notice period and continue to be in the rolls of the company on the distribution date would be eligible for this distribution. The distribution will take place around second week of August 2010.

Employees who meet the above mentioned criteria will be eligible to a minimum allocation of five equity shares with an incremental allocation of one equity share for each completed year of service, the statement said.

Infosys and its subsidiaries had 113,796 employees on its rolls as on April 1, 2010.