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Ankush Offer Letter Reliance

Offer letter

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868 views10 pages

Ankush Offer Letter Reliance

Offer letter

Uploaded by

rohitv0203
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Refiance JRETAIL Ref: HR/JAN/23/B1/61306884/60517120/1001389277 Date: 05 January, 2023 Mr. Ankush Arora street no.2 ‘Ambedkar chpowk Gaibipur 125121 Haryana, India Dear Mr. Ankush This is with reference to your application and subsequent interview you had with us. We are pleased to offer you employment as Store Manager in Assistant Manager - B1 grade in our business (nthe following terms and conditions: 4. PLACE OF POSTING: Your initial posting will be at Ludhiana,Punjab. However, during employment with the Company, you may be posted at any other location in India or abroad, without any additional remuneration. Further your services may be transferred to any other Reliance Group Company. This offer is subject to your joining us on or before 10 February, 2023, 2, COMPENSATION: Your compensation on a Cost to Company (CTC) basis will be Rs. 7,60,000/- (Rupees Seven Lac(s) Sixty Thousand Only) per annum and will be payable as under. Please refer to Annexure 1A for detailed breakup of your CTC. |. Fixed Pay: Rs. 7,60,000/- (Rupees Seven Lac(s) Sixty Thousand Only) per annum. This includes Basic Pay and Choice Pay that consists of other allowances, benefits, perquisites etc. as per the compensation policy of the company. li, Retirals: Rs. 43,749/- (Rupees Forty Three Thousand Seven Hundred Forty Nine Only) per annum, This includes: = Provident Fund @ 12% of PF Wages (i.e. Basic Pay + Personnel Special Allowance, wherever paid) ‘and may be capped at applicable Statutory Wage Limit or actual PF Wages depending on company policy. - Gratuity @4.81% of Basic Pay and paid as per provisions of The Payment of Gratuity Act 1972. 3. GENERAL: You may choose components of your CTC as per your requirement, being referred as Choice Pay. In the year of joining and leaving the Company, the CTC will be pro-rated based on the number of days you are in the employment of the Company. The available CTC components along with limits have been detailed in Annexure 18. ‘The components within each category of payment are discretionary and the Company has the right to change these components at any time without notice. Your compensation and all other payments received by you would be subject to the prevailing tax rules and regulations. Reliance Retail Limited (Cn: LOTT OOWHTEREPLCI20563 Phone +91 23 Mone ok once Bed Refiance JRETAIL ‘The Annexure 1A and the detailed "Terms & Conditions of Employment" in Annexure 2 together sets forth the terms and conditions under which the Company would employ you and become effective from the date you join the Company. Your acceptance of the offer of employment would be on the basis of these terms and conditions of employment. You are requested to sign and return to the Company a copy of this letter containing Annexure 1A and “Terms & Conditions of Employment" in Annexure 2, as confirmation of your acceptance. This offer and appointment letter shall automatically stand withdrawn in case we do not receive your acknowledgement and acceptance within ten days from issue of this letter. ‘We wish you a long and successful association with us. Sincerely yours, For Reliance Retail Limited Chitra Padmanabhan ACKNOWLEDGEMENT & ACCEPTANCE | have read and understood all terms and conditions relating to my appointment/ employment and declare that | hereby unconditionally and irrevocably accept the same. | shall report for duty on ‘SIGNATURE: DATE: Reliance Retail Limited (Cv: UOTHOOWHTSREPLCI20563 Phone +83 22 Refiance JRETAIL ‘Annexure 1A Name: Ankush Arora EARNINGS CTC Components Proposed CTC (Rs.) Monthly ‘Annual ‘A. Fixed Pay 1 Basic Pa) 21,688 2,60,254 Choice Pa 2 Conveyance. 4,600 49,200 3 Fuel & Maintenance Refer to Annexure 1B 4 Leave Travel Allowance Refer to Annexure 1B 5 Medical Reimbursement Refer to Annexure 1B 6 Residual Choice Pay 23,228 2,78,742 Housin 7 House Rent Allowance 10,844 4,30,127 Insurance 8 GPA Insurance Premium 34 413 9 Group Term Life Insurance Premium 157, 1,886 40) Medical Insurance Premium, 2,136 25,632 Retirals “1 PF - Employer Contribution 2,603 31,231 2) Gratuity (4.81% of Basic) 1,043 12,518 Total Fixed Pay [A] 63,333, 7,80,000 Total Other Payments [B] Total CTC (A) 63,333 7,860,000 Note: The above amounts are the maximum permissible limits, On joining, you may change the same to suit your needs. (¢)In case of employees that are entitled to Bonus under the Payment of Bonus Act 1965. 1 Refiance JRETAIL Annexure - 2 ‘TERMS AND CONDITIONS OF EMPLOYMENT MEDICAL FITNESS & VERIFICATION OF PARTICULARS: Your appointment is subject to: a. Medical Fitness: You being declared medically fit by a Medical Officer or by a Doctor specified by the Company and remaining medically fit . Verification of Particulars: In case particulars mentioned in your application and the representations and warranties provided by you are found false or unsatisfactory, your ‘services would be liable for termination at any time without any notice or any ‘compensation in lieu thereof, PROBATION: You will be initially on probation for a period of Six Months, which may be extended or reduced at the sole discretion of the Management. During the period of probation, the appointment is terminable by giving 30 days' notice in writing by either side or payment of 30 days Basic salary in lieu thereof. On completion of initial probation period till such time that you are intimated in writing regarding your confirmation, you shall continue to be on probation. After confirmation, the employment can end through three months’ notice or payment of Basic salary in lieu thereof by either side. You shall attend duties till you are relieved from services in writing. Waiving the Notice Period on resignation is at the sole discretion of the company. TRANSFER Your employment is transferable to any other place! establishment department! division/ unit/ branch/ subsidiary of the company. However, such transfer will not entail any increase in your salary and / or adversely affect your emoluments. REPRESENTATIONS AND WARRANTIES: The Company's agreement to continue to employ you and the compensation and benefits to be paid to you are in consideration of the terms, covenants, and conditions stated herein, and you represent and ‘warrant to the company that. You are under no contractual or other restriction or obligation which is inconsistent with the conditions ‘contained herein, the performance of your duties hereunder, or the other rights of the Company hereunder. b. You are under no physical or mental disability that would hinder the performance of your duties contained herein ©. You shall not raise any issue of the reasonableness of the terms, covenants, and/or conditions in any proceeding to enforce these terms, covenants andlor conditions, d. You have full right and authority to execute this contract and that you are not bound by any contract or ‘arrangement, including any employment contract, bond or covenant not to compete, inconsistent herewith fe. You hereby agree and undertake to indemnify the Company, its affllates and the directors, officers and ‘employees of each of the foregoing and to hold them harmless from and against any and all third party claims they face, which give rise to any liablities, damages, claims, costs and expenses (including legal expenses), due to any act, omission, Violation or breach of any of your representations, warranties, and ‘covenants, Refiance JRETAIL {The Company shall indemnify and defend you to the fullest extent permitted by the law of the State of Company's incorporation and the By-Laws of the Company with respect to any claims that may be brought ‘against you arising out of any action taken or not taken in your capacity as an officer or director of the Company; provided, that, the Company shall not indemnify and defend you with respect to any claims brought against you relating to intentional or wilful acts, or to other acts as to which indemnification is not allowable under applicable law. g. These terms, covenants, andor conditions shall survive the termination of your employment with the Company; and conditions set forth herein are essential for the Company's protection; and the Company has relied on these representations, warranties, and agreements by you. 5. DUTIES AND RESPONSIBILITIES: 2. Exclusivity: You agree to perform your duties, responsibilties and obligations efficiently and to the best of ‘your ability. You agree that you will devote all of your working time, care and attention and best efforts to ‘such duties, responsibilities and obligations throughout the term of employment. You also agree that you will not engage in any other employment or business activities. You agree that all of your activities as an ‘employee of the Company shall be in conformity with all the policies, rules and regulations and directions of the Company. ‘You are required to engage yourself exclusively in the work assigned by the company and shall not take up ‘any independent or individual assignments (whether the same as part time or full ime, in an advisory ‘capacity or otherwise) directly or indirectly without the express written consent of your Business Unit Head. ‘You will avoid any such issue which may result in a conflict between your personal interest and the interest of the company in dealing with suppliers, customers and all other organizations or individuals doing or ‘seeking fo do business with the company. ‘You shall obey and comply with all the orders and directions given to you by your superior or any other person duly authorized in that behalf. You shall obey all the rules and regulations, either statutory or ‘otherwise, which are in vogue and may be notified from time to time. b. Non Solicitation: You will not, during the course of your employment or at any time thereafter, without the prior written consent of the Company, directly or indirectly, solicit for employment, or employ or otherwise contract for the services of, any person who is employed or engaged (either as an employee or consultant) by any of its associated companies or directly or indirectly induce any such employee to leave his or her ‘employment. ‘This covenant shail survive the termination of your employment with the Company; and prohibits you from irectly of indirectly inducing an employee with whom you have worked with or been in association with

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