Change in Prize Structure

Posted by basil on January 22nd, 2010 Filed in Announcement, Prizes View Comments

Hello fellow CodeCheffers,

In an attempt to motivate and encourage more people to participate and showcase their skills in our monthly contests, based on the feedback from several CodeChef winners, we have decided to reward more number of participants starting this February. To start with, we are doing this only for Indian participants.

So, we’re glad to inform you that we will now be rewarding the top 20 participants in India! The prize structure will be as follows:

Position Prize
1st Rs. 10,000
2nd Rs. 7,000
3rd Rs. 5,000
4th Rs. 4,000
5th Rs. 3,500
6th-10th Rs. 2,500 each
11th-15th Rs. 1,500 each
16th-20th Rs. 1,000 each

Note: All prizes above Rs.5000 will be taxed at 30%. TDS certificates will be issued at the end of the financial year.

At CodeChef we’re always looking to improve, and for this very reason we give a lot of importance to the feedback we receive. Please feel free to suggest any changes or voice any concerns that you may have.

We’re very excited about the new prize structure and hope that you all are as well. :)

Cheers,
Team Codechef

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  • RosyIsh

    Ya definitely excited !!

  • rosyish

    Ya definitely excited !!

  • RosyIsh

    Ya definitely excited !!

  • rosyish

    Ya definitely excited !!

  • RedAnt

    Awesome.. was hoping for something like this since CodeChef started .Thank you :)

  • RedAnt

    Awesome.. was hoping for something like this since CodeChef started .
    Thank you :)

  • idleheads

    Very Very excited in fact was waiting to see such change

  • idleheads

    Very Very excited in fact was waiting to see such change

  • Abhijith

    Awesome :)

  • Abhijith

    Awesome :)

  • ajaysomani

    I'm bound to ask, in the unlikely scenario when an Indian comes in top 3 overall, what would you give them, Indian prize or Overall prize ? :)

  • ajaysomani

    I'm bound to ask, in the unlikely scenario when an Indian comes in top 3 overall, what would you give them, Indian prize or Overall prize ? :)

  • Uday

    Definitely for the better !!!Was hoping for something like this !!!

  • Uday

    Definitely for the better !!!
    Was hoping for something like this !!!

  • Abhishek Kumar Singh

    woww, really excitement change in prize structure………… :)

  • Abhishek Kumar Singh

    woww, really excitement change in prize structure………… :)

  • http://www.codechef.com CodeChef

    Thanks guys. It's great to see your enthusiasm!

  • http://www.codechef.com CodeChef

    Thanks guys. It's great to see your enthusiasm!

  • http://www.codechef.com CodeChef

    As long as you are participating from India, you will receive prizes as per the Indian prize structure. They will be maintained as two separate categories.

  • http://www.codechef.com CodeChef

    As long as you are participating from India, you will receive prizes as per the Indian prize structure. They will be maintained as two separate categories.

  • http://www.codechef.com Anusha

    Thanks guys. It’s great to see your enthusiasm!
    @Ajay: As long as you are participating from India, you will receive prizes as per the Indian prize structure.

  • http://www.codechef.com Anusha

    Thanks guys. It’s great to see your enthusiasm!
    @Ajay: As long as you are participating from India, you will receive prizes as per the Indian prize structure.

  • http://www.facebook.com/people/Pankaj-Kumar/1124718205 Pankaj Kumar

    now there will be chance for new programmer to show there skill

  • http://www.facebook.com/people/Pankaj-Kumar/1124718205 Pankaj Kumar

    now there will be chance for new programmer to show there skill

  • balajiganapath

    why should an Indian coming in the top 3 be an 'unlikely scenario' ? :)

  • balajiganapath

    why should an Indian coming in the top 3 be an 'unlikely scenario' ? :)

  • balajiganapath

    What will happen in case of a tie??

  • balajiganapath

    What will happen in case of a tie??

  • http://www.codechef.com CodeChef

    In the case of a tie, the amount will be distributed evenly amongst the winners.

  • http://www.codechef.com CodeChef

    In the case of a tie, the amount will be distributed evenly amongst the winners.

  • Pratik

    Will there be regular shorter online contests like online Snackdown events?

  • Pratik

    Will there be regular shorter online contests like online Snackdown events?

  • http://www.codechef.com CodeChef

    We will try to have shorter contests on a regular basis.

  • http://www.codechef.com CodeChef

    We will try to have shorter contests on a regular basis.

  • Vaibhav

    Nice idea, should encourage competition at lower ranks also! Quick question though, are prizes below Rs 5000 taxed as well? If not, and going by the 30% tax rate, wouldn't that imply that finishing 4th is (monetarily) better than finishing 3rd? :)

  • Vaibhav

    Nice idea, should encourage competition at lower ranks also! Quick question though, are prizes below Rs 5000 taxed as well? If not, and going by the 30% tax rate, wouldn't that imply that finishing 4th is (monetarily) better than finishing 3rd? :)

  • http://www.codechef.com CodeChef

    Hi Vaibhav,Nice catch, and you're right in the short run it may seem that way. However, since we will be providing TDS certificates to all the winners at the end of the financial year(June), they will be able to redeem the taxed amount then. : )

  • http://www.codechef.com CodeChef

    Hi Vaibhav,
    Nice catch, and you're right in the short run it may seem that way. However, since we will be providing TDS certificates to all the winners at the end of the financial year(June), they will be able to redeem the taxed amount then. : )

  • Vaibhav

    Ah, nice. Thought there had to be a catch. :)

  • Vaibhav

    Ah, nice. Thought there had to be a catch. :)

  • http://www.facebook.com/people/Suhash-Venkatesh/516736807 Suhash Venkatesh

    It s really good!!! I m sure the submissions on the challenge problem will increase drastically !!!! :)

  • http://www.facebook.com/people/Suhash-Venkatesh/516736807 Suhash Venkatesh

    It s really good!!! I m sure the submissions on the challenge problem will increase drastically !!!! :)

  • jitendra

    i thinke.. it should be applicable for us prize also ,

  • jitendra

    i thinke.. it should be applicable for us prize also ,

  • ajaysomani

    Usually claiming tax refund is easier said than done. But then ofcourse, you're doing the correct thing by law :) .

  • ajaysomani

    Usually claiming tax refund is easier said than done. But then ofcourse, you're doing the correct thing by law :) .

  • Pankaj Shah

    “In the case of a tie, the amount will be distributed evenly amongst the same rank holders.”But on the contest page it says – In the unlikely case of an overall tie (including the same score on the tie-breaker) a winner will be randomly chosen from the top scorers.Please tell, since i will have to spend more time to get some money.Also good news for not-so-good coders.

  • Pankaj Shah

    “In the case of a tie, the amount will be distributed evenly amongst the same rank holders.”

    But on the contest page it says –
    In the unlikely case of an overall tie (including the same score on the tie-breaker) a winner will be randomly chosen from the top scorers.

    Please tell, since i will have to spend more time to get some money.
    Also good news for not-so-good coders.

  • Aniruddha

    The money will be distributed evenly, not randomly.

  • Aniruddha

    The money will be distributed evenly, not randomly.

  • gumnam

    this is a very good change in prize structure ,during this change more student will be participating in codechef

  • gumnam

    this is a very good change in prize structure ,during this change more student will be participating in codechef

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