TCS CEO reiterates stand against moonlighting, says it could break apart IT industry

TCS has previously stated that dual employment is against its core values, and the company has also tried to curb moonlighting by calling people back to office.

FPJ Web DeskUpdated: Monday, October 17, 2022, 04:15 PM IST
article-image
TCS calls moonlighting a threat to client confidence and trust. | Photo credit: IANS

Siging off from one job and logging in to take up extra work as a freelancer or a part-time employee seemed like a normal progression for any other day for professionals. But the past few weeks have turned moonlighting into another ‘M’ word, which stokes trouble whenever it’s mentioned. After labelling the practice of working two jobs at once as unethical, cheating and two-timing, India’s top IT firms Wirpo and Infosys have said they can allow it under few conditions.

Infosys and Wipro relent but TCS wary

After ruling out any scope for making an extra buck with a side gig, both Infosys and Wipro have hinted that employees might be allowed to moonlight, as long as they aren’t working for a rival. But now another tech giant Tata Consultancy Services (TCS) has raised the alarm, with its CEO N Ganpathy Subramaniam warning that the industry can fall apart because of the practice. While speaking to ET Now, Subramaniam added that client confidentiality and trust can take a hit because of moonlighting.

Invokes career development

Days after TCS stated that dual employment is against the core values, the CEO is now reiterating it and saying that moonlighting just to make money is wrong. Subramaniam also justified calling employees back to office for three days a week, by highlighting how looking at colleagues and comparing work is essential for developing their career. This comes after the practice of moonlighting gained traction among techies during the pandemic, as they used the timed saved on commute and their private space to pick side jobs, for extra cash in times of financial uncertainty.

How is moonlighting taxed?

But employees working second jobs and receiving payment as salary, will also have to pay tax deducted at source (TDS), provident fund contribution, and advance tax. As for those receiving it as a fee for freelance gigs, such professionals will have to pay taxes on Profit & Gains from Business and Profession. Freelancers can also pay tax on 50 per cent as income, without claiming expenses under presumptive taxation, to pay only the fourth quarter’s advance tax.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Opening Bell: Nifty opens below 18500, Sensex falls 200 points

Opening Bell: Nifty opens below 18500, Sensex falls 200 points

PM's Employment Generation Programme

PM's Employment
Generation Programme

Elon Musk: Twitter may exceed 1 billion users in 12-18 months

Elon Musk: Twitter may exceed 1 billion users in 12-18 months

India now has 2nd largest gamer base in the world with over 396 million gamers

India now has 2nd largest gamer base in the world with over 396 million gamers

Winter product trends pickup, FMCG makers hopeful of rural growth in coming quarter

Winter product trends pickup, FMCG makers hopeful of rural growth in coming quarter