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Sarvesh Chandra's salary revision letter summarizes their compensation package for the 2023-2024 financial year. Their monthly basic salary will be 56,300 rupees and their total annual compensation is 30,38,904 rupees. This includes monthly, annual, and special components such as bonuses. Benefits like insurance, food, leaves, and holidays are also provided.

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31 views

Offer

Sarvesh Chandra's salary revision letter summarizes their compensation package for the 2023-2024 financial year. Their monthly basic salary will be 56,300 rupees and their total annual compensation is 30,38,904 rupees. This includes monthly, annual, and special components such as bonuses. Benefits like insurance, food, leaves, and holidays are also provided.

Uploaded by

Sarvesh Chandra
Copyright
© © All Rights Reserved
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59252/ Comp.

Revision / 2023-24

Date: 11-July-2023

Name: Sarvesh Chandra


Grade: 5.2
BU: Data HLS | OU: ServiceLines

Sub: Salary Revision FY 2023-24

Dear Sarvesh,

I take this opportunity to recognize and appreciate your contribution to our company’s growth during the financial
year 2022-23. I would like to express my sincere gratitude for your tremendous efforts in helping us achieve our
milestone of becoming a Billion-dollar organization last year. As a result of your hard work and dedication, we have
been consistently paying more than 100% company performance bonus for the past three years.

Your confidence in taking on new challenges, responsibility in meeting stakeholder expectations, persistence in
driving results, and ingeniousness to transform new ideas in developing tangible solutions was inspiring and
noteworthy.

As our teams turn digital challenges into business success while accelerating competitive advantage in a fast-
changing global market, your contribution is significant in helping our clients on this journey to
#SeeBeyondRiseAbove.

I am looking forward to an exciting FY 2024 and beyond, and I know I can count on you for your continued support
to make Persistent the great place that it is.

It is our continuous effort to benchmark our salary levels to industry norms and changing market dynamics. Your
revised compensation is attached in Annexure A. It will be effective July 1, 2023.

All other terms and conditions of your employment will continue to be the same and will be as per the Company
Policy updated from time to time. In the event of a conflict between any specific term of your employment and
Company policy, the specific provision of your employment terms shall prevail. Your grade and remuneration are
strictly confidential between you and the Company and should be treated as such.

Wish you all the best.

Yours sincerely,

Yogesh Patgaonkar
Chief People Officer
59252/ Comp. Revision / 2023-24

Emp No: 59252


Name: Sarvesh Chandra
Grade: 5.2
Your compensation Package with effect from July 1, 2023 is as follows: Annexure – A

I Monthly Components % of Basic Amount (Rs.)


1 Basic Salary 56,300
2 House Rent Allowance 50% 28,150
3 Company Contribution to E.P.F. / Special Pay I 6,756
4 Superannuation fund / Special Pay II 15% 8,445
5 National Pension Scheme / Special Pay III 10% 5,630
6 Leave Travel Allowance 10% 5,630
7 Statutory Bonus/ Ex-Gratia 20% 11,260
8 Miscellaneous Allowance 19,119
Total Monthly Salary (M) 1,41,290
Total for the year (M * 12) ------------------------------------------------[A] 16,95,480
II Variable Component(s)
1 Annual Performance Bonus (APB) Per Month [M] 15,950
2 Total APB 10% of Annual Gross Salary --------------------------------[B] 1,91,400
III Annual Components
Provision for Gratuity -----------------------------------------------------[C] 4% 27,024
Annual Gross Salary [A+B+C] 19,13,904

IV Special Components -----------------------------------------------------[D]


1 Other Bonus*** 10,84,000

V Major Benefits (Avg. Cost Per Person Per Annum)


Insurance* and Food** ---------------------------------------------------[E] 41,000
Cost to Company (CTC) [A+B+C+D+E] 30,38,904

Yours sincerely,

Yogesh Patgaonkar
Chief People Officer
59252/ Comp. Revision / 2023-24

***OtherBonus -
1) Special Skill Allowance -- Amount: 1084000, Frequency : Monthly, Notes : BI Reporting

* Insurance Policy –
Group Term Life Insurance and Critical Illness (Self only)
Personal Accident (Self only)
Mediclaim Hospitalization (Self, Spouse, 2 children and Parents)

** Food –
Lunch
Snacks
Biscuits
Tea / Coffee
“Food and Insurance” is a benefit being extended to the employees and cannot be paid in cash, under any
circumstances.

In Addition to the major benefits mentioned above, Persistent provides the following benefits, as applicable:
➢ Leaves
• Privileged Leaves
• Maternity Leave (ML)
• Paternity Leave (PL)
• Child Adoption Leave (CAL)
• Long leave
• Optional Holiday
• Compensatory-Off
➢ Paid Holidays
➢ Provident Fund – As per policy available in Employee Manual
➢ Employee Deposit Linked Insurance Policy
➢ Gratuity – 4% of the Annual Basic Salary
➢ Superannuation -15% of Monthly Basic Salary
➢ National Pension Scheme/Special Pay III – 10% of Monthly Basic Salary
➢ Long Service Award
➢ Company sponsored Higher Education / certifications
➢ Night Shift Allowance
➢ Special Skill Allowance
➢ Reward and Recognition
➢ Transportation Facility
➢ Gymnasium Facility
➢ In-house Sports Facility
➢ Employee Engagement activities
➢ Project Party
➢ Facility of Part-time working / Working from home / Flexi working hours
➢ Doctor on premise
➢ Annual Health Check-up
➢ Voluntary Top-up Insurances
➢ Persistent Employee Benefit Trust

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