A query about pending job confirmation

As per the statement you have made, your selection is complete and you are shortlisted. Maybe the final decision regarding compensation is to be taken. The compensation levels what that company offering may be less than what you are expecting. That is why they might have kept it on hold.
During the talk with HR did they talk anything about the salary part. Generally, HR will call you and tell you what the company can offer you and he may ask your consent. Then only they will be sending you the offer letter. If that has not happened means your selection is not finalised.
Till they call you or they send you any mail, you can't do anything. Wait for another 10 days and then you can contact them again.

Sometimes companies take substantial time in finalising the appointments and giving a clear letter to join on such and such date. There could be various internal reasons for that, best known to the company only. We do not have any alternative except enquiring time to time and waiting for it. One thing is sure that if a company is having large tasks in hand and is in need of the manpower urgently then it would not delay the appointments and ask the candidate to join at an earliest. It is also possible that these vacancies might be against some upcoming plans and projects which might have been delayed and then company might be reviewing its requirement and delaying the appointment process. It has happened with one of the girls in my relation who got a campus recruitment in a big company but had to wait for almost one year and then only she got a confirmed appointment letter. Moreover the salary package was also small and it was mentioned that the salary package would be revised after seeing the performance of the first year. In such situations one has no way except to wait.

Multinational companies would generally not delay much in such appointments as they require people to take up the ongoing projects where there is always a deadline from the side of the customer. So I do not think that they would delay it further. At present the industries are going through a tough time as due to Covid-19 scenario the order book of the companies as well as their delivery is significantly affected and many companies have reduced the emoluments of their existing employees and it is natural that the remuneration of the newly recruits will also be affected to that extent. That is the reason why they have asked your payslip to see as how much they can offer you vis-a-vis the existing remunerations that you are already getting in the present job. If they are really serious to hire people right now then they would soon make an offer to you and then you can take a decision by comparing your career in the present company with respect to this MNC and then you can make a conscious decision to leave and join there. In all probability, seeing the present business scenario, they might make a lower offer to you and then you have to use your wisdom to decide the further course of action. In case you do not hear from them for next 2-3 weeks then you can give a reminder or make a phone call for the latest status in the matter. Do not consider the quantum of the offer as the deciding factor but see the future prospects and career in this MNC and if those are prospective and far better than the existing one then accepting the job time being on lower emoluments would not be a wrong decision.

Generally, it does not happen in MNC. They have seen your pay-slips of last 3 months and you have not yet received any call or email from them, most likely they are looking for other candidate who may accept less salary because covid 19 has affected MNCs also.
However, you can wait for a week or so as HR has asked you to wait. If you have really been shortlisted then you will receive confirmation from them. If HR does not respond you within a week or so, then do not waste your time and see the job in other company.

You are aware of pandemic situation when the entire multinationals are trying hard to augment their profits and for that they are adopting several measures such as cost cutting. efficient use of electrical power and judicious use of manpower.
While the first two parameters as indicated above remain more or less constant - no room for the curtailment of expense but the last parameter mentioning man - power, there is always the scope for saving the expense with the lesser deployment of manpower or induction of such personnels proficient in multi operational jobs. In that way, they would save precious money.
Now talking in your case, you have been interviewed covering multi rounds and even you have submitted last three month payslip of the present organisation, no response is forthcoming from the multinational regarding your selection.
You have been advised by the personnel department of the same multinational to wait for a week at least and even their final process of selection of candidates is not over. In nut shell, they are looking for candidates fit for their organisation but agreeing to join with some lesser remuneration.
What you can do under this situation is to make a final call from your end after ten days so that by that time, final development will emerge.
In the event that you get a call from the said multinational, prior to joining think all the pros and cons in relation to your future prospects.

HR managers in most MNC's and even companies are tend to give the same reply. Since it is pandemic period and selection may be on the terms of quality of skills with minimal pay scale expectation by the employee. The least payout with the best qualification and experience will be given more preference. It is always better to keep hopes but try in other places too as a stand by. By the time you finish your rounds of interview may be, you will be called for appointment at the MNC which you are looking for.

It is very dispirited to wait after clearing 4 rounds or interviews but it is part and parcel of any process that takes place. One thing is good to know that you were able to nail that interview which is a very good sign that you are good in your work and can crack any interview in future.

Now coming to your point about your chances of selection and other reasons about the delay in the process can be slashed as follows:
a) Project on hold - There are times when a new project that they expected is either on hold or delayed. For this reason, the company may delay their new recruiting process for the time being and may or may not inform the candidates depending upon the HR function or the people handling it.
b) Position on Hold - The company may backpedal their new appointment and would like to make the available employee do the work and thus would keep that position on hold for the time being or till further notice.
c) Budget problems - Due to the current pandemic situation, the company may be having constraint in their budget and thus would be trying to re-budget their project budget for their survival.
d) Interviews still ongoing - There are chances that the interview for the said position or for the complete project is still ongoing and the HR department may be finalising their list and thus taking time to get the final selected candidates.
e) Replacement candidate - There are chances that you are a replacement for their selected or hired candidate and you are a backup candidate for him/her. They are waiting for his/her approval and only if he/she turns down the offer, you may be selected.
f) Lack of sync - As it is an MNC company, there are chances that there is ego or lack of sync between the interviewers(HR and Technical) and the final recruiter of the company who takes the final decision of hiring for the company.
g) Background checking process - Many MNC companies have the process of a background check before recruiting any candidate for their company and for that they have special department/people or firms that do it for them and this process may take time, say several weeks to a couple of months depending upon the people and thus waiting for their report.
h) They are hiring a candidate as a replacement for an existing employee who has resigned but still has to continue their position due to some requirement of the project. The company is waiting for the term of the current employer to get over so that a new replacement can take his/her place in the company.

An employer conducts test and interview of applying candidates to select the best suited for the job. They can come to a conclusion only after completing the process with all the applied candidates. So one can expect some time gap to know the final result.
In your case they have definitely shortlisted you, but as they have not completed interviewing all candidates. And hence hey have not found the best-of-all person as of now. That is why they are keeping the matter pending. They may even be discreetly verifying about you in the existing employment also.

So you allow them reasonable time to inform you about the decision. You need not hurry, and don't do anything that affects your current job also. When you are intimated and if they are selecting you, inform them the realistic time frame by which you can be relieved from the current job without any issues to join the new job.

Best Wishes.

A candidate him/herself can understand whether selected or not even during the course of interview and it is to be understood that he/she is not got selected if he/she do not get reply within a gap of time.