Upskilling is undertaking learning to expand the skillset from the existing skillset. Reskilling means learning a totally new skillset from the employee’s existing skillset. The common thing about both is they help the employees to expand their knowledge, but they differ in the end result. With the advent of Industry 4.0 technological disruptions are taking place on a wider scale and Covid-19 has also accelerated the pace of these changes by increasing automation, remote work and flexibility at all levels in IT organizations. The IT companies have witnessed the surge in new technologies such as Artificial Intelligence, cyber security, data visualization, data analytics quantum computing etc. For this skill do a power is required so that the present skills in these organizations do not become obsolete to gain a competitive advantage. So, companies have come up with the idea of Employee value proposition that will motivate the employees to acquire new skills for the benefits and perks they receive in return for the skills, capabilities and experience they bring to the company that helps the company in achieving its goals. When we examine more on the EVP, it is about how the companies wishes to keep themselves unique in terms of motivating people to work and retaining great talents and attracting potential talents in the company by creating a uniqueness in what the company has to offer. As the IT companies are moving towards a technological shift it is important to understand the significance of reskilling and upskilling in building employee value proposition. In this research paper we aim to study the significance of reskilling and upskilling in building employee value proposition in IT companies through descriptive research design for obtaining the objective of the research, a pre-planned and structured questionnaire was used. A sample size of 50 employees from different IT companies were approached on a convenient basis. Both primary and secondary data were used in compiling the study. Secondary data was collected from websites, books and articles while primary data were collected with the help of structured questionnaire from the employees of IT companies.