Change in Prize Structure

1 min read

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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52 Replies to “Change in Prize Structure”

  1. 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? 🙂

  2. 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? 🙂

  3. 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. : )

  4. 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. : )

  5. “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.

  6. “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.

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