16th March, 2021
Mr. ABC XYZ
A/603,
Sai Swaroop Ltd,
Ganesh GalliNavghar road,
Mumbai
Pin Code - 400071
APPOINTMENT LETTER
Dear ABC,
With reference to your Resume and subsequent interview you had with us, we are pleased to appoint you as a “Senior Business Analysts” in our organization on the following terms and conditions:
Date of Joining: You have joined us on 1st January, 2019.
Remuneration: 3 months from the Date of commencement, your salary will be 10,000 (Ten Thousand Rupees ) Per month for first 3 months, which is liable for extension at the sole discretion of company.
On Successful completion of your training period your salary will be 240,000 Per Annum (Two Lakh Forty Thousand Rupees ). This comprises of your salary and performance linked incentives and the details of which is been given in the Annexure B attached below.
Please note that the salary will be on the basis of lump sum and taxes applicable will be deducted from your salary every month.
You will execute an agreement of confirmed employment with us for a period of 18 Months including the period of probation executing a bond to that effect. You will be given an industrial training including technology exposure which the company will mentor and support providing requisite resources for this purpose for a fees amounting to 100,000.
Probation/Confirmation: You will be on a probation period for six months or more if required. During the probation period your services can be terminated with seven days/immediate notice by the company.
Place/Transfer: Your present place of work will be at Mumbai, but during the course of the service, you shall be liable to be posted / transferred anywhere to serve any of the Company's Projects or any other establishment in India or outside, at the sole discretion of the Management.
You will be required to comply with all such rules and regulations as the Company may frame from time to time.
Leave: You will be eligible to the benefits of the Company’s Leave Rules on your confirmation in the Company’s Service.
You are NOT permitted leave during probation other than sick leave; Sick Leave will require a doctor’s Certificate to be submitted. No leaves are allowed in probation period.
Any of our technical or other important information including any personnel information which might come into your possession or knowledge during the continuance of your service with us shall not be disclosed, divulged or made public by you at any time.
You will be required to maintain utmost secrecy in respect of the following confidential assets including Project documents, commercial offer, design documents, Project cost & Estimation, Technology, Software packages license, Company’s polices, Company’s patterns & Trade Mark and Company’s Human assets profile.
If at any time in our opinion, which is final in this matter you are found non- performer or guilty of fraud, dishonest, disobedience, disorderly behavior, negligence, indiscipline, absence from duty without permission or any other conduct considered by us deterrent to our interest or of violation of one or more terms of this letter, your services may be terminated without notice and on account of reason of any of the acts or omission the company shall be entitled to recover the damages from you.
Notice Period: Three months’ notice will be applicable from both sides for the termination of the services, though the management reserves the right to terminate your services earlier giving the due notice if your services are found unsatisfactory.
You will be responsible for safekeeping and return in good condition and order of all Company property, which may be in your use, custody or charge.
This appointment letter is being issued to you on the basis of the information and particulars furnished by you in your application (including bio-data), at the time of your interview and subsequent discussions. If it transpires that you have made a false statement (or have not disclosed a material fact) resulting in your being offered this appointment, the Management may take such action as it deems fit in its sole discretion, including termination of your employment.
Please sign and return to the undersigned the duplicate copy of this letter signifying your acceptance. We welcome you to The Neosoft family and look forward to a fruitful collaboration.
ANNEXURE A
SALARY DISTRIBUTION
| Name: Mr. ABC XYZ | ||
| Designation: Senior Business Analysts | ||
| Target Annual Compensation From Neosoft Technologies | Per Month (INR) | Per Annum (INR) |
| Basic | 10,000 | 120,000 |
| Total (A) | 10,000 | 120,000 |
| Deductions ( C ) | ||
| PT | 200 | 2,400 |
| Total Deduction(C) | 200 | 2,400 |
| Net Salary Payable(A)-(C) | 9,800 | 117,600 |
*Any tax liability arising out of your compensation shall be borne by you and it will be as per Income Tax rules.
Notes:
- All Payments are subject to appropriate taxation.
- The salary structure is liable for modification from time to time.
- PLI are paid annually
For Neosoft Technologies
Ms. Simran Singh (HR Manager)
ANNEXURE B
SALARY DISTRIBUTION
| Name: Mr. ABC XYZ | ||
| Designation: Senior Business Analysts | ||
| Target Annual Compensation From Neosoft Technologies | Per Month (INR) | Per Annum (INR) |
| Basic | 15,500 | 186,000 |
| House Rent Allowance | 3,854 | 46,248 |
| Bonus | 1,400 | 16,800 |
| Total (A) | 20,754 | 249,048 |
| Statutory Benefits ( B ) | ||
| Gratuity | 8,952 | |
| Total Fixed Compensation (A) + (B) | 21,500 | 258,000 |
| Deductions ( C ) | ||
| PT | 200 | 2,400 |
| Net Salary (Before Tax) (A)-(C) | 20,554 | 246,648 |
Notes:
- All Payments are subject to appropriate taxation.
- The salary structure is liable for modification from time to time.
- PLI are paid annually
For Neosoft Technologies
Ms. Simran Singh (HR Manager)