All 1.2 Capgemini Employees In India Eligible For ESOPs Worth 30 Lakh Shares! How Much Money Can They Earn?
Good news coming in for all Capgemini employees in India and abroad.
The company has decided to roll out their ESOP or employee stock ownership plan for all 2 lakh employees globally.
This also includes 1.2 lakh Indian employees.
How will it work out? Keep reading to know more!
Capgemini ESOP Program Rolled Out For 96% Employees
Capgemini has announced that under their new ESOP program, 30 lakh company shares will be allocated to 96% of their 2 lakh workforce.
4% remaining employees who wont be able to get the shares under ESOP program are those, who are residing in countries where income tax laws are strict, the ESOP plan cannot be implemented.
In 2019, Capgemini introduced their 6th ESOP plan, which covered 98% of all employees.
Indian Employees Will Be Covered
In this latest ESOP plan, all Indian employees will be covered.
Out of 2 lakh global employees, 60% of them, that is 1.2 lakh are in India.
The company will roll out 30 lakh shares for their employees, which means, around 18 lakh shares will be handed over to 1.2 lakh employees in India, based on their experience, contribution to the company, and their performance.
Explaining how the ESOP plan will work out in India, said Pallavi Tyagi, CHRO for India in Capgemini said, “Employees who have, as on November 12, 2020, completed 3 months’ tenure with the organisation and will continue to be part of Capgemini for at least one day during November 10-12, 2020 (both days inclusive) are eligible to subscribe for ESOPs,”
While the money generated via ESOPs will be provided in Euros,+ the lock in period is 5 years, which means that shares can be encashed only after 5 years of allocation.
How Much Money Can An Employee Make In ESOPs?
Some employees can become millionnaires!
The exact numbers will be cleared, only after Capgemini finalizes the new subscription prices, which will be set on November 5th, and the entire process will be finalized by December 17th.
Indian IT biggies such as Infosys too had rolled out ESOPs for their employees during the 1990s and 2000s.
As per reports, Infosys created 20,000 millionnaires, and 500 dollar millionnaires, during the ESOP allocations.
Infact, Infosys allocated 5 crore shares to their employees last year itself.
We will keep you updated, as more details come in.