Terms and Conditions in Job Offer Letter
A job offer letter must contain all the necessary terms and conditions to clarify all the aspects related with selection for job. Here is a point wise description of every point which are important and must be included while drafting terms and conditions for the job. Follow these points to draft your own terms and conditions in the best of the manner possible:
1. Title
It must contain the job title on which the candidate has been selected.
2. Start Date
The next important thing in the letter is the start date of the job.
3. End Date ( In case of fixed contracts)
The offer letter must also contain the end date of the employment of the candidate.
4. Roles and Responsibilities
The job offer letter must contain all the necessary points concerning the roles and responsibility of the job profile. There has to be a point-wise description of the main highlights of the job. This will help the candidate deliver his services with the best of the understanding of what is expected of him.
5. Reporting Relationships
There has to be a mention of the person to whom the new employee must report. Mention the name of that person along with his designation to bring more clarity in the reporting relationship.
6. Probation Period
There has to be well defined probation period, if any. The purpose of this period is to train the new appointment within a definite time to have complete understanding of his job so that he can achieve satisfactory levels of performance. It should also contain the information about extending this period in case the candidate fails to deliver expected performance levels along with the information on interim reviews.
7. Appraisal
There has to be a mention of appraisal scheme related with the job profile. The purpose is to encourage the candidate for his career development and personal development. It must contain information on implementation of appraisal specific to the department. This will work as the motivation for the employee to deliver better performance.
8. Salary
This is the most important segment of the job offer letter. It must contain the following information:
- Rate of Pay
It must contain the title of the post, the commencing rate of pay along with salary scale which is mentioned in the letter of appointment. It must also be made clear that there will be no other remuneration other than the payment.
- Other Benefits
In case, there are other benefits like insurance, travel allowance, group incentives etc. they must be mentioned too. Put all the benefits with clear detailing about each.
9. Superannuation
There has to be a mention of superannuation plan of the company which is designed to benefit its employees after retirement. The offer letter must contain the deductions as per the pension plan. A new eligible employee gets enrolled in the appropriate pension scheme automatically when he joins the company.
10. Hours of Work
The next important thing to be mentioned is the hours of work. The letter must contain the daily working hours along with mention of special circumstances like part-time or extra-time working and the remuneration that will be paid for extra working.
11. Travel Requirements
Make a mention of travel requirements, if any. It must also include the frequency of travelling concerning the job profile.
12. Public Holidays, Overtime etc.
Information of public holidays and compensation for overtime on regular days and on public holidays must be mentioned in a simple and easy to understand language.
13. Holidays
This head must contain information on the number of paid leaves to which the candidate is entitled. It must also mention the exception holidays like locally agreed department closure holidays etc. along with the payment conditions on all such days. Special mention of conditions regarding holidays during probation etc.
Below are some of the conditions on which the letter must focus to bring more clarity:
- Additional Holidays for Long Service
- Holiday Entitlement for Part-time Workers etc.
14. Termination Clause
There are two conditions under this head which must be kept in mind.
- Termination of Appointments by Notice
Make sure you mention the period of notice which you are obliged to give the candidate before terminating him. It must be given in writing. This period usually varies between weeks to a month depending upon the organization. Do mention all the other conditions concerning the termination.
- Retirement
Do make a mention of the normal date of retirement in your company. Also mention the age of retirement.
15. Restrictive Covenants
This is an important part of the terms and conditions. It is asking the candidate to maintain the confidentiality of the intellectual property of the company. This is a non-disclosure agreement which maintains the confidentiality of important information of the organization.
These are some of the important points which must be kept in mind while designing the terms and conditions in the job offer letter of your company. Customize these points as per the need of your company.
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Categories: Job Evaluation Tags: Conditions, Job Offer, Offer Letter
Sample Letter of Initial Job Offer and Notice of Appointment
Sample Letter of Initial Job Offer and Notice of Appointment
February10, 2014
<Name of the selected candidate>
<Address>
Dear Mr. / Ms._________,
It gives us immense pleasure to offer you the role of (job position) at (name of the organization).
As mentioned during the interview process, you will be appointed in the Management Grade______ of our company. The compensation and other benefits are enclosure with this letter. We request you to go through it and return the enclosed duplicate copy as formal acceptance of the offer.
We will accordingly make arrangements for your date of joining in the detailed letter of appointment which will be issued soon. The date will be kept as per your convenience i.e. on or before (date).
In this new job position you will be effectively dealing with important and sensitive information, records and such other matters of the company. Hence, you will require signing a “Code of Conduct and Secrecy Agreement” with our company at the time of joining.
We look forward to your joining our team soon. Hope our company helps you build a bright career.
We also take this opportunity to welcome you and your family to our company.
Kind Regards
<Name of the Business Leader>
<Designation>
<Company>
Click Here To Download Letter of Initial Offer
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Categories: HR Tags: Initial Offer
Letter of Confirmation – Management Trainee
Letter of Confirmation – Management Trainee.
November 10 2013
(Name)
(Company)
(Employee Number)
Dear Mr./Ms. ___________________,
We congratulate you on the successful completion of your training in our company!
We are happy to confirm your service as (designation) with our company with immediate effect from (date). You will be placed in ___________ management grade of Business Leaders of our company as per the following terms and conditions:
1. Basic Salary: Your basic salary will be Rs. _________/- (Rupees______only) per annum. You will also be entitled to further review of your compensation in accordance to the company practice which is linked to your performance and the discretion of the management.
2. H.R.A. / Accommodation: You will be paid 60% of your basic salary as house rent allowance. However, if you choose company accommodation, the same will be regulated by the relevant policy mentioned in our Company Leased Accommodation (C.L.A.) policy on our official website (link).
3. Special Allowance: You will be entitled for a special allowance of Rs. _________/- (Rupees______only) per annum.
4. Food Coupons: You will be entitled to food coupons worth Rs. _____/- per month. However, you may opt out of this by referring your choice to the HR manager. For details on where these coupons are applicable, you may refer our directory on our website (link).
5. Leave Travel Assistance: You will be entitled to Rs. ___________/-(Rupees_______only) for each completed year of service in accordance to the rules, payable on a yearly basis.
6. Domiciliary Medical Expenses: You will be entitled to Rs. ___________/-(Rupees_______only) for each completed year of service in accordance to the rules, payable on a monthly basis.
7. Hospitalization: You would also be covered under the Company’s Hospitalization scheme. You may refer our Hospitalization policy on our website (link) for more details.
8. Provident Fund: The Company contributes 12% of basic salary towards Provident Fund. As such, similar deduction will be subtracted from your salary.
9. Superannuation: Superannuation program is conducted by the company for the employees too. 15 % of the basic salary per annum is contributed towards superannuation fund till the age of 58 years. The benefits of the contribution are applicable as per the terms of the scheme. If you are interested, you may refer to Mr. (person in charge) for further information on the Superannuation Program of our company.
10. Gratuity: You will be entitled to an equivalent of 15 days of your last salary drawn for every completed year of service. This will be in accordance to the terms of the scheme and subjected to a maximum of Rs.3, 50,000/-. You will be eligible for the gratuity after 5 years of completed service.
11. Corporate Attire: You will be entitled to select corporate attire worth Rs. ________/- from the options provided by the Company annually. If you would like to enjoy this service, the Company will contribute 50% of this amount and the balance will be deducted from your salary. You may refer our Corporate Attire Policy on our website (link) for more details.
12. a) You appointment can be terminated on either side with three months notice or payment of salary (basic) instead.
b) The Company reserves every right to terminate your service without providing any specific reason for termination. However, it will give you three months notice or pay salary (basic) instead.
c) The Company also reserves the right to terminate your services without any prior notice or salary compensation on the grounds of misconduct, reasonable suspicion of misconduct, disloyalty, commission of any act involving moral turpitude, or any act of indiscipline or inefficiency or for loss of confidence on your part.
13. You will be posted at ___________ and will need to report to ___________or any other person nominated by the company. But this is not static. You are liable to be transferred to any other Departments / Divisions / Factories of the Company, anywhere in India. Your service may be later on assigned by the Company to any other Company of the (Organization Name) Group. You may also be assigned with other duties that may be required of you in any Branch or Office of the Company and/or its subsidiaries or to any of its other Associate Companies.
14. Your appointment will be finalized upon your examination and when found fit. The management will have every right to get you medically examined by any qualified medical practitioner during the tenure of your service. If you are found medically unfit, you will lose your lien on the job.
15. References from your former employers will also affect the appointment procedure.
16. Your retirement age from the Company will be the superannuating age of 58 years. You are hence expected to provide evidence of your date of birth at the time of joining.
17. All the general rules, practices and policies of the Company are liable to change from time to time. However, you will be expected to abide by the changes.
18. In case of laws enacted by the State/Central Government, you would be entitled to such benefits at the discretion of the management.
19. You will be expected to maintain the highest order of discipline and secrecy with the Company and/or its Subsidiaries or Associate Companies. In case of any breach of discipline/trust, the company is liable to terminate your service with immediate effect. You will also required to sign a Secrecy Agreement that mentions that all inventions, improvements, discoveries made by you either alone or with other persons, will become the sole property of the company. You are required to ensure that the patent protections obtained for such inventions/improvements in India or elsewhere are assigned to the company.
20. You will be expected to respect, obey and conform to all the regulations issued by the Company from time to time. You shall not be a part of any other employment, conduct business whatsoever or hold any office of profit or accept any other emoluments without previous consent in writing of the Company during your tenure in the company. If found guilty, you will be terminated with immediate effect.
21. The company also reserves the right to send you for specialized training within India or overseas to enable you to perform better. If such necessity occurs, you will require executing a training bond with the Company.
22. This offer is completely based on the information furnished in your application for employment. However, if the management finds any incorrect information, your employment based on this letter of appointment is liable to be terminated without any prior notice and compensation.
23. The emoluments/benefits due to you will be liable/subject to tax in accordance with the provisions of the Income Tax Act and Rules made there under as also other applicable laws, if any, as may be in force from time to time.
24. The Company also takes care of all the statutory compliances. It ensures compliance with various statutes in your area of operations that includes the Insider Trading Regulations as well.
25. Your appointment is effective from the date of joining. We expect you to see you not later than (date).
Kindly sign the copy of this letter as acceptance of the above terms and conditions and return the same to us.
We welcome you to (Organization Name) and wish you all the luck for a bright career with us.
Best Regards,
(Name of the Business Leader)
(Designation)
(Company)
Click Here To Download Letter of Confirmation
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Categories: HR Tags: Management Trainee
Letter Format For Promotion Of Employee – Job Promotion Letter
To
Mr. /Ms. (name)
Sir/ Ma’am,
Sub: Change of designation and Increment of salary –Reg.
As a token of appreciation of your service in the organization, the management has decided to designate you as (position) and make an increment to your monthly salary by Rs. (amount) i.e. from Rs. (present salary) to Rs. (increased salary).
However, as a result of the change in salary and designation, you are expected to execute a bond for three years.
We wish of the same zeal and better performance from you in the future.
Best Regards,
Yours faithfully,
For (Organization),
PRESIDENT
Simple Letter Format of Appointment Sample
This is an simple example of a sample appointment letter. Your company or HR executive can make modifications as per your company policy or situation.
October 14, 2013
(Name)
(Company)
(Employee Number)
Dear Mr. /Ms. ___________________,
This is in reference to the meeting you had with us. We are glad to offer you the position of (job title) at level (name) in the management cadre of our company (company name).
Below are the terms and conditions that you will need to abide by:
1. Basic Salary: You basic salary will be Rs. _________/- (Rupees______only) per annum. However, you will be entitled to any future review of your compensation in accordance to the company’s practice. It will be linked to your performance and will be at the discretion of the management.
2. H.R.A. / Accommodation: 60% of your basic salary will be paid as house rent allowance. If you consider our company accommodation, the same will be regulated by the relevant policy. You may refer our Company Leased Accommodation (C.L.A.) policy on our website (link) in that case.
3. Special Allowance: You will be entitled to a special allowance of Rs. _________/- (Rupees______only) per annum.
4. Food Coupons: You will be entitled to food coupons worth Rs. _____/- per month. However, you may opt out of this by referring your choice to the HR manager. For details on where these coupons are applicable, you may refer our directory on our website (link).
5. Leave Travel Assistance: You will be entitled to Rs. ___________/-(Rupees_______only) for each completed year of service in accordance to the rules, payable on a yearly basis.
6. Domiciliary Medical Expenses: You will be entitled to Rs. ___________/-(Rupees_______only) for each completed year of service in accordance to the rules, payable on a monthly basis.
7. Hospitalization: You would also be covered under the Company’s Hospitalization scheme. You may refer our Hospitalization policy on our website (link) for more details.
8. Provident Fund: The Company contributes 12% of basic salary towards Provident Fund. As such, similar deduction will be subtracted from your salary.
9. Superannuation: Superannuation program is conducted by the company for the employees too. 15 % of the basic salary per annum is contributed towards superannuation fund till the age of 58 years. The benefits of the contribution are applicable as per the terms of the scheme. If you are interested, you may refer to Mr. (person in charge) for further information on the Superannuation Program of our company.
10. Gratuity: You will be entitled to an equivalent of 15 days of your last salary drawn for every completed year of service. This will be in accordance to the terms of the scheme and subjected to a maximum of Rs.3, 50,000/-. You will be eligible for the gratuity after 5 years of completed service.
11. Corporate Attire: You will be entitled to select corporate attire worth Rs. ________/- from the options provided by the Company annually. If you would like to enjoy this service, the Company will contribute 50% of this amount and the balance will be deducted from your salary. You may refer our Corporate Attire Policy on our website (link) for more details.
12. a) You appointment can be terminated on either side with three months notice or payment of salary (basic) instead.
b) The Company reserves every right to terminate your service without providing any specific reason for termination. However, it will give you three months notice or pay salary (basic) instead.
c) The Company also reserves the right to terminate your services without any prior notice or salary compensation on the grounds of misconduct, reasonable suspicion of misconduct, disloyalty, commission of any act involving moral turpitude, or any act of indiscipline or inefficiency or for loss of confidence on your part.
13. You will be posted at ___________ and will need to report to ___________or any other person nominated by the company. But this is not static. You are liable to be transferred to any other Departments / Divisions / Factories of the Company, anywhere in India. Your service may be later on assigned by the Company to any other Company of the (Organization Name) Group. You may also be assigned with other duties that may be required of you in any Branch or Office of the Company and/or its subsidiaries or to any of its other Associate Companies.
14. Your appointment will be finalized upon your examination and when found fit. The management will have every right to get you medically examined by any qualified medical practitioner during the tenure of your service. If you are found medically unfit, you will lose your lien on the job.
15. References from your former employers will also affect the appointment procedure.
16. Your retirement age from the Company will be the superannuating age of 58 years. You are hence expected to provide evidence of your date of birth at the time of joining.
17. All the general rules, practices and policies of the Company are liable to change from time to time. However, you will be expected to abide by the changes.
18. In case of laws enacted by the State/Central Government, you would be entitled to such benefits at the discretion of the management.
19. You will be expected to maintain the highest order of discipline and secrecy with the Company and/or its Subsidiaries or Associate Companies. In case of any breach of discipline/trust, the company is liable to terminate your service with immediate effect. You will also required to sign a Secrecy Agreement that mentions that all inventions, improvements, discoveries made by you either alone or with other persons, will become the sole property of the company. You are required to ensure that the patent protections obtained for such inventions/improvements in India or elsewhere are assigned to the company.
20. You will be expected to respect, obey and conform to all the regulations issued by the Company from time to time. You shall not be a part of any other employment, conduct business whatsoever or hold any office of profit or accept any other emoluments without previous consent in writing of the Company during your tenure in the company. If found guilty, you will be terminated with immediate effect.
21. The company also reserves the right to send you for specialized training within India or overseas to enable you to perform better. If such necessity occurs, you will require executing a training bond with the Company.
22. This offer is completely based on the information furnished in your application for employment. However, if the management finds any incorrect information, your employment based on this letter of appointment is liable to be terminated without any prior notice and compensation.
23. The emoluments/benefits due to you will be liable/subject to tax in accordance with the provisions of the Income Tax Act and Rules made there under as also other applicable laws, if any, as may be in force from time to time.
24. The Company also takes care of all the statutory compliance. It ensures compliance with various statutes in your area of operations that includes the Insider Trading Regulations as well.
25. Your appointment is effective from the date of joining. We expect you to see you not later than (date).
Kindly sign the copy of this letter as acceptance of the above terms and conditions and return the same to us.
We welcome you to (Organization Name) and wish you all the luck for a bright career with us.
Best Regards,
(Name of the Business Leader)
(Designation)
(Company)
Categories: HR Tags: Appointment, Letter
Job Offer Letter With Probationary Period
Please find the attachment Job Offer Letter with Probationary Period.
Joining cum Offer Letter
Date/Month/Year
To,
Mr. XYZ
Address
Pune – 411007
Dear Mr. XYZ,
We at COMPANY NAME are pleased to induct / appoint you in or esteem organization as a Human Resources – Manager, we would like to confirm your appointment based on the acceptance of the following:
Place of Posting:
You will be posted at Pune, However during employment with the Company, you may be posted / transferred to any other Sector or Branch needed as per requirement.
Kindly confirm your earliest date of Joining with us.
Reporting:
You will be reporting to Mr. XYZ – DESIGNATION.
Probation and Confirmation:
You will be initially on probations for a period of 3 (Three) months during which you may be removed from your appointed post without giving any notice or reason thereof if not found satisfactory as per performance reviews. You will be given an appointment cum confirmation letter after the given probation period is over.
Salary and Allowances:
Your salary would be confirmed and communicated to you by concerned and the HR Manager. A details salary structure will be issued to you during your joining with a Salary break – up explained to you and other company policies. Other than this, a salary structure will be attached with the hard copy after you join the company.
Increments and Incentive:
You are entitled to normal increments, which are normally based on consistency of performance review and reports along with this the front end will be appraised with an incentive as per targets achieve. The incentive is paid weekly as per the Policy.
Duties and Responsibilities:
The Company expects you to work with a high standard of initiative, efficiency and economy. You are expected to strictly follow the various company policies viz,, Ethical Policy and Quality Policy.
You shall neither divulge nor give out information to any unauthorized person during the period of your service or even otherwise or even otherwise, particulars about the products and services, technical know-how, security arrangements, administrative and / or organizational matters of a confidential / secret nature which may be your privilege to know by virtual of your being our employee.
You will be governed by the general polices of the company with regards to leave and other administrative matters that may come in force from time to time.
Any employee wishing to resign must communicate his intent in writing for acceptance by the Management. On acceptance of resignation, employee must serve the applicable notice period of 60 days. In the event of separation, the notice period applicable to the organization as well as the employee is 60 days.
You will agree not to take up any other assignments during the association with us. Even after disassociating with us. You will not take any assignments with our partners, customers or any competitors for a period of least 2 years after separations.
Please sign the attached copy of this Letter as a token of acceptance of the terms and conditions embodied herein within 5 (Five) days after you receive the Letter.
We welcome you to our team for a long, successful and mutually rewarding relationship.
Wish you a very Happy Joining with SHORT FORM OF THE COMPANY.
For COMPANY NAME
Sincerely,
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Categories: HR Tags: Job Offer Letter, Probationary Period
Appointment Letter Format
Appointment letter will remain the same as per the below , you just need to change the designation and salary accordingly and release them. If they are recruited from third party agencies then you no need to bother much. Please find the attached Appointment letter.
January day of: Date of Joining
Personal & Confidential
Mr. ______________
S/O: Mr. ______________
______ (Address) _______
___________
______________
Sub: – Letter of Appointment
With reference to the discussion we had with you, we are pleased to appoint you as System Administrator under the following terms and conditions:
1. Commencement Date
Your date of appointment will be effective from January day of: Date of Joining
2. Salary and Benefits
Salary and benefits are detailed in Annexure attached herewith. Your Gross Salary is (XXXXXXX) subject to deduction of Tax at source.
3. Place of work
Your initial employment location will be Hyderabad. However, your services are transferable to any place in the country or abroad or to any of the company’s associate or sister concern or its subsidiary client location, at the sole discretion of the management.
4. Working Hours
The shift timings will be based on process / program requirement as and when explained by your superiors.
5. Job Assignment/Reporting
In your assignment, you will be responsible for the duties of System Administrator, as more particularly laid out in the job description for this position. You will report directly to the supervisor nominated by the management.
6. Probation, Confirmation & Termination
1) You will be on probation for a period of 6 (Six) months from the date of your appointment, where after, if your services are found satisfactory, you will be confirmed by means of a written intimation. The management reserves the right to reduce, dispense with or extend your probation period at its absolute discretion.
2) (a) During the probation period or the extended period of probation, an Employee will be liable to be discharged from the company’s services at any time with 60 days prior notice and without assigning any reason. An Employee also bound to provide the company with 60 days notice during which period he / she may have to actually work. The company does not encourage adjusting notice period against either leave or forfeiture of salary.
(b) Upon confirmation your services are liable to be terminated by the company after
Providing you two month’s notice or payment of basic salary in lieu thereof
You shall also be bound to provide the company with two months notice prior to
Resignation during which period you may have to actually work. The said period
Will not be adjustable either against leave or forfeiture of salary
(c) If the exigencies of work so require, the company may not relieve you earlier than the expiry of the entire period of notice. It shall, however, be open to the company to accept your resignation with effect from any date earlier than the one offered by you in your resignation letter.
(d) The company will have the right to terminate your employment without notice or payment of salary in lieu thereof if:
You commit any breach of your duties and responsibilities under this contract of service.
You are guilty of any gross default or misconduct, which contravenes the expressed or implied conditions of your employment; and
You commit breach of any of the terms of clause 8 of this appointment letter.
7. Absence without Notice
Absence without leave or remaining absent beyond the period of leave originally granted or subsequently extended, shall result in voluntary termination of your employment without any notice unless you
1) Return to work within 3 days from the commencement of such absence, and
2) Provide satisfactory explanation to management regarding such absence.
8. Non-Disclosure Agreement
During the course of your employment with us you will have access to confidential/proprietary information about the organization, its clients, its business transactions, and associated companies. You shall not during your course of Employment and two years after you have ceased to be in the employment of this organization, disclose such confidential/proprietary information to any third party and /or any unauthorized person.
All notes and memoranda pertaining to this organization trade secrets and confidential/proprietary information made by or acquired by you during the course of your employment shall at all times remain the property of this organization. Upon termination of your employment, you shall return all notes/memoranda and any copies thereof to organization that you may have obtained during the course of your employment.
You are obliged to sign a non-disclosure agreement specific to a particular client as and when required by organization.
Prior to joining organization, you will ensure that you will be free from any contractual restrictions preventing you from accepting this offer or starting work on the joining date.
9. Employment Regulations
Whilst employed with the company:
You will not engage in any trade or profession or undertake any employment, full or part-time, while in the service of the Company;
You will have no objection to working extra hours in the morning and/or the evening according to the requirements of the job.
You may be selected and sponsored by the Company for familiarization/training assignments with the Company’s technical collaborators or any other institutions/organizations in India and/or abroad. You will diligently and beneficially take part in such assignments. The cost of
Such training, including the travel fare and related expenses, will be borne by the Company subject to agreements to be drawn up and signed between the Company and you. Such agreements will be specifying the minimum period you will be required to serve the Company after completing the training and providing for payment of liquidated damages by you to the Company proportionate to the time period of service remaining to be rendered, in the event you voluntarily terminate the contract of service or this appointment, as the case may be, prior to the expiry of the agreed period of service referred to hereinabove;
You will carry out your duties with diligence and loyalty at all times, keeping the
Company’s interest paramount;
You shall not under any circumstances either directly or indirectly, receive or accept for your benefit any commission, rebate, discount or profit from any person, company or firm having business transactions with Organization
During your employment, you will be bound by the Company’s Rules and Regulations framed and enforced from time to time. The Company reserves the right to amend or alter the said Rules and Regulations at its discretion, without any notice thereof, and these will be deemed as Rules and Regulations in terms of your employment;
The Company shall verify the facts stated by you in your resume submitted during the interview process. If any of the facts stated therein are found to be false, your services will be terminated immediately without any notice or any compensation in lieu of the notice period;
This appointment letter is governed by and shall be construed in accordance with the laws of India, and both parties to this appointment letter shall submit to the exclusive jurisdiction of the Indian Courts. This appointment letter contains the entire understanding between the parties and supersedes all previous agreements and/or arrangements relating to employment with the organization. Any amendment or modification to this appointment letter shall be made in writing and signed by both the parties.
The terms and conditions of service are confidential and may not be disclosed to or discussed with anyone;
You will be required to effectively carry out all duties and responsibilities assigned to you by your manager and others authorized by the company to assign such duties and responsibilities;
You will be required to apply and maintain highest standards of personal conduct and integrity and comply with all company policies and procedures. All acts subversive of good conduct and discipline like insubordination, gross negligence, corruption, fraud, forgery, misappropriation, etc. would warrant strong disciplinary action from the company.
The emoluments/benefits due to you will be liable / subject to deduction of income tax in accordance with the provisions, of the Income Tax Act and Rules made there under as also other applicable laws, if any, as may be in force from time to time.
10. Retirement
You will automatically retire from the service of the company on attaining the superannuating age of 60 years.
11. Date of Joining
You are required to join on or before January day of: Date of Joining, following which this offer stands withdrawn. At the time of joining please submit the following documents:
a) Proof of compensation last drawn Date of Birth proof certificate (Copy of passport / birth certificate / S.S.C) (Two Copies )
b) Original Academic Certificates (all from 10th to Highest)
c) Original Resignation Letter with acknowledgement
d) Relieving letter from previous employer (Original)
e) Proof of compensation last drawn (3 Months – Original)
f) Six passport size photographs (Recent)
g) Bank Statement (six months)
12. Acceptance
Please sign and return the duplicate copy of this letter and annexure as a token of your acceptance of the terms and conditions mentioned herein.
If you fail to indicate your acceptance within a week from the date of the appointment letter, this offer of employment will be deemed to have been withdrawn and cancelled.
All other terms and conditions will be governed by the Company’s policies as stated from time to time.
We look forward to your joining us for a long, successful and mutually beneficial association
Yours faithfully
for Company Name
Adnaan
EXECUTIVE – HUMAN RESOURCES
———————————————————————————————–
I accept the appointment on the terms and conditions contained herein and will report for duty on …………..
Signature: ………………………..
Date: Name: ……………………………….
Categories: HR Tags: Appointment Letter Format Needed Urgent.
Re-designation Letter Sample Format
Please find the attachment letter for the change in designation of an employee.
LETTER OF RE-DESIGNATION LETTER
Date : …………………………….
Ms./Mr. …………
Add: ……………
Sub: – Your Re-Designation to Position of ………………….
Dear Mr/Ms………..
We are pleased to inform you that you have been re-designated as “…………………………..” and your services are hereby confirmed w.e.f ……….. (Date).
All the other terms and condition which is detailed in your Appointment Letter remains unchanged. You will be entitled for the Leave Benefits as per Company Policy of 12 Casual Leaves and 12 Sick Leaves annually.
Your Performance Appraisal shall be done on …………………………..(Date). you job Responsibilities or the Key Result Areas for your Appraisal is attached herewith. You will be reporting to the Head-(Department Name).
Please signify your acceptance of these terms and conditions by signing the enclosed duplicate and returning to us.
(Company Name) Pvt. Ltd. Congratulates you on your Re-designation and wishes you a long term career with us.
Yours Sincerely,
……………..
(Human Resources)
I accept the above mentioned terms and conditions on confirmation to the position of (Insert Position).
Signed : Date :
Click Here To Download Re-designation Letter
Request For Change In Designation-Letter Format in Word
Search Sample Formats:
Categories: HR Tags: Request Letter For Designation Change
Sample Format of Memorandum for a Change of Job Title
it is considered as re-designation since roles and responsibilities remain same. The format for Memorandum of New Job Title is as below:
Date:
Emp ID:
Emp Name:
Subject: Re- Designation
Dear Mr./ Ms. ———–,
As part of organization’s initiative to standardize Bands, Designations and Job Titles of our employees, we have revised your employment data as follows and effective
———-.
Revised Job Band is—–
Revised Designation is ———
Revised Job Title is ——–
All other terms and conditions of your employment as mentioned in your appointment letter remain the same.
I would like to wish you the very best for your future.
Sincerely,
For —————
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Categories: HR Tags: Change Of Job Title From Officer-Senior Manager.
Employee Company Car Sample Policy
I have attached Employee Company Car Sample Policy.
Company Car Policy
1. Objective
The new Company Car Policy has been formulated in order to introduce an employee friendly and easy to administer car scheme in the company with effect from April 1, 2006. With the introduction of this scheme all previous car schemes stand withdrawn.
- 2. Scope
Employees in Grade M1 and above are entitled to participate in this scheme. These employees have been assigned Management Allowance / Car Kitty as part of their remuneration package. Their Management Allowance / Annual Car Kitty amount is given in the table included herein below.
|
(A) Grade |
(B) Car Kitty Amt (p.a.)* Rs. |
(C) Mgmt. Allow. (p.m.) Rs. |
(D) Addnl. Car Kitty(p.a.)* Rs. |
(E) Max. Car Kitty Amt (p.a.)* Rs. |
|
M5 |
240,000 |
20,000 |
60,000 |
300,000 |
|
M4 |
195,000 |
16,250 |
45,000 |
240,000 |
|
M3 |
150,000 |
12,500 |
45,000 |
195,000 |
|
M2 |
105,000 |
8,750 |
45,000 |
150,000 |
|
M1 |
75,000 |
6,250 |
30,000 |
105,000 |
In the case of employees joining the Company Car Scheme post July 1, 2006, actual Car Kitty amount shall be net of Fringe Benefit Tax (FBT) as applicable.
- 3. General
3.1. Under this scheme eligible employee can avail of a leased car for both official duties as well as personal use. For this purpose, the company has entered into an agreement with a lease finance company. The details of the same have been provided in the Annexure I.
3.2. Eligible employees would be entitled to a car with a per annum cap on lease rent equivalent to their annual car kitty entitlement included in their remuneration package.
3.3. Employees can select any car of their choice within their lease rent entitlement limit.
3.4. Full finance is available without any margin money requirement. The amount that can be rentalized includes the following:
3.4.1. Ex-Showroom Cost of the car
3.4.2. Registration Fees
3.4.3. Insurance
3.4.4. Cost of Accessories
3.4.5. Octroi and other taxes.
However, the minimum amount that would need to be rentalized is the Ex-Showroom cost of the vehicle.
3.5. In case accessories are bought from some other dealer, the VAT Invoice from that dealer will be required.
3.6. At the end of the Lease Term, the car will be returned to the leasing company.
- 4. Standard Operating Procedure:
4.1. The process starts with the employee getting an “In principle” approval of his/her respective HOD vide e-mail on a model that falls within his/her car kitty entitlement limit.
4.2. Employee negotiates with the dealer to get the best deal possible and gets a formal quotation in the form of Proforma Invoice.
4.3. Employee then submits to the Admin Department. an application for joining the company car scheme in the prescribed format as per Annexure II enclosing the Proforma Invoice and the e-mail approval from HOD.
4.4. Employee also executes an Undertaking on Rs. 20 Stamp Paper (refer Annexure III) and submits the same to Admin Department.
4.5. Admin gets the approvals from Finance on the Application Letter and retains the original Application Letter and Proforma Invoice for their records.
4.6. Admin intimates the Lease Finance Company vide Authorization Letter as per Annexure IV enclosing a copy of Proforma Invoice.
4.7. The Lease Finance Company then sends the following to the Admin Department.:
4.7.1. Cheque in the name of the Dealer
4.7.2. Covering Letter to the Dealer
4.7.3. Letter for Endorsement to the RTO
4.7.4. Form 20 for signature of Authorized Signatory
4.8. Commencement date for the lease period under the scheme shall be the date on which cheque is drawn in favor of the dealer by the Lease Finance Company.
4.9. Admin gets the required signature on Form 20. Admin hand over the following to the employee to take the delivery of the car:
4.9.1. Cheque in the name of the Dealer
4.9.2. Covering Letter to the Dealer
4.9.3. Letter for Endorsement to the RTO
4.9.4. Form 20 with approval from Authorized Signatory (CFO)
4.9.5. Copy of ABC’s PAN Card
4.9.6. Company’s Address Proof
4.9.7. Letter of Authority to take the delivery of the car (Refer Annexure V).
Admin retains a copy of all the above documents.
4.10. Based on these documents employee can take delivery of the car.
4.11. On receiving the delivery of the car, the employee needs to forward the following docs to the Admin Department.
4.11.1. Original Invoice
4.11.2. Copy of Insurance Cover Note
4.11.3. Copy of R C Book
4.11.4. Copy of Insurance Policy
4.12. Admin Department retains a copy of all the above documents and sends the Original Invoice and copy of the other three docs to the Lease Finance Company.
4.13. The Lease Finance Company then sends the following to the Admin Department:
4.13.1. Lease Agreement drawn in triplicate (One Original and two copies).
4.13.2. First Debit note
4.14. Admin takes required signatures on the Lease Agreements, sends original to Lease Finance Company, handover one copy to employee and retains the other copy for their records.
4.15. Admin then intimates the payment schedule included in the Agreement to the HR Department and forwards the First Debit Note to the Accounts Department. for making payment to the Lease Finance Company
4.16. On receiving the Payment Schedule, the HR Department provides the necessary inputs to the Payrolls Department vide the monthly salary input.
4.17. Second year onwards, the employee gets the insurance done himself, retains the original insurance policy and submits two copies of it to Admin Department. Admin Department retains a copy and sends a copy to Lease Finance Company
4.18. The Lease Finance Company will raise a single rental bill by 20th of every month reflecting all the on-going agreements and sends it to the Admin Department who will forward the same to Accounts Department for payments.
- 5. Maintenance / Repairs / Normal Running / Insurance
The employee will be required to maintain the Car in good condition & incur all running costs including costs of fuel, spares, tubes, tyres, repairs, maintenance, servicing etc., as required from time to time.
As stated above, the employee will also bear the insurance cost 2nd year onwards.
All these expenditures can be claimed against reimbursement entitlement included as part of the compensation package.
- 6. Foreclosure:
6.1. Premature exiting from the car scheme by returning the car at any point of time has been provided for under the scheme. However, where premature exit from the scheme is not at the behest of the company, the foreclosure charges / expenses shall be borne by the employee in totality. Instances of premature exit not at the behest of the company are foreseen as, but not limited to the following:
6.1.1. Resignations
6.1.2. Retirements (including Voluntary Early Retirement)
6.1.3. Personal Reasons
6.1.4. Dismissals from service will be treated on the same footing as cases, which are not at the behest of the Company.
6.2. The working of the foreclosure charges would be as agreed with the Lease Finance Company. The details of the same are in Annexure I.
6.3. In case the employee is joining a new organization, there is a possibility of assigning the car to the new organization by the Lease Finance Company. This will need to be mutually decided by the Lease Finance Company and the concerned employee’s new organization.
- 7. Promotions
If the employee’s car kitty entitlement changes due to promotion, the difference between the new monthly car kitty entitlement and monthly car lease rent would be added to his/her Personal allowance and paid out with salary on monthly basis. This would be treated as income and taxed accordingly.
- 8. Transfers
In case of inter-location transfers, within the company, the leasing company will organize all the necessary formalities. The concerned employee will be required to contact the Administration Department at HO to initiate necessary processes.
In case of transfers to a subsidiary / affiliate / sister company, the car can be assigned to the new company wherever the new company also has an agreement with the said Lease Finance Company.
The transfer charges will be borne by the company if the transfer is company initiated and by the employee if the transfer is employee initiated.
- 9. Rejoining the Car Scheme
On completion of the tenure and on returning of the car to the Leasing Company, the employee will be entitled to rejoin the car scheme immediately thereafter.
10. Overall Co-ordination/Clarification/Suggestions
10.1. Car Scheme will be co-ordinated on an all India bases by the Administration Department in Head Office. The department shall maintain an MIS pertaining to the scheme.
10.2. All clarifications with regard to the scheme can be obtained from Administration Department.
10.3. All suggestions for improvement of the scheme should be addressed to the Administration Department.
ANNEXURE I
- The company has entered into an agreement with M/s Sundaram Finance Ltd., a Lease Finance Company to make available a leased car to the eligible employees of the company.
- Employee has an option to choose tenure ranging from 3 yrs to 5 yrs. Current Lease rentals for the same are indicated in the table below:
|
Tenure |
Resale Value |
Rental per lac per month (plpm)* |
|
3 Yrs |
25 % |
Rs 2705 |
|
4 Yrs |
20 % |
Rs 2230 |
|
5 Yrs |
15 % |
Rs 1930 |
* Please contact the Admin Department. for the latest Lease Rentals applicable.
- The above rentals are based on the current SBI PLR. There could be a variation in the rentals due to variation in any of the following:
- SBI PLR ( In this regard please note that, there has been no increase in this benchmark interest rate in the past 5 Yrs)
- Change in the Corporate Taxes / Depreciation Rates as prescribed in the Union Budget
Kindly refer to the variation tables included herein below:
3.1. Given below is the variation table for the 3 year option:
Tenure : 3 years
Rent (per month per lac) : Rs.2,705/-
Pattern of payment : Monthly in advance
Change taking place at the Quantum of change in rent per month
end of the month per lac for 0.5% p.a. change in cost of funds
Rs.
0 27
6 25
12 23
18 21
24 19
3.2. Given below is the variation table for the 4 year option:
Tenure : 4 years
Rent (per month per lac) : Rs.2,230/-
Pattern of payment : Monthly in advance
Change taking place at the Quantum of change in rent per month
end of the month per lac for 0.5% p.a. change in cost of funds
Rs.
0 26
6 23
12 21
18 19
24 17
30 15
36 13
3.3. Given below is the variation table for the 5 year option:
Tenure : 5 years
Rent (per month per lac) : Rs.1,930/-
Pattern of payment : Monthly in advance
Change taking place at the Quantum of change in rent per month
end of the month per lac for 0.5% p.a. change in cost of funds
Rs.
0 26
6 24
12 22
18 20
24 18
30 16
36 15
42 14
48 13
3.4. The quantum of change in rentals indicated above is for every half percentage point change in the cost of funds to the lessor keeping the other parameters of the lease at the present level.
3.5. In the 3 year option, the variation in rental for any 0.5% p.a. change taking place after the 24th month shall remain Rs.19/- per month per lac till the end of the lease period.
3.6. In the 4 year option, the variation in rental for any 0.5% p.a. change taking place after the 36th month shall remain Rs.13/- per month per lac till the end of the lease period.
3.7. In the 5 year option, the variation in rental for any 0.5% p.a. change taking place after the 48th month shall remain Rs.13/- per month per lac till the end of the lease period.
3.8. Any change in cost of funds to the lessor taking place between two periods indicated in the table above will entail change in rentals to the extent of change in rentals indicated at the beginning or at the end of the said periods or any magnitude falling in between depending on the exact point in time the change takes place.
3.9. The magnitude of change in rentals indicated above shall be applicable from the immediate rental next falling due and shall be applicable on all the future instalments of the rentals.
- Stamp Duty
4.1. Stamp Duty cost is also applicable on the Lease Rent Agreement. This amount varies as per the rates applicable from state to state.
4.2. The current Stamp Duty rates in various states are listed below:
| Orissa | Rs.10/- |
| Tamilnadu | Rs.20/- |
| Kerala | Rs.50/- |
| Karnataka | 1% of average annual rentals |
| Andhra Pradesh | Rs.100/- |
| Maharashtra | 1% of average annual rentals |
| Gujarat | 2% of average annual rentals |
| Delhi | Rs.50/- |
| Madhya Pradesh | Rs.50/- |
| Uttar Pradesh | Rs.50/- |
| West Bengal | Rs.20/- |
| Haryana | Rs.20/- |
| Goa | Rs.20/- |
| Pondicherry | Rs.20/- |
4.3. The same will be recovered from the employee’s salary on receiving delivery of the car.
- Once lease rentals exceed the car cost, 12.5% VAT will be applicable on the lease rentals and EMI would be enhanced to that effect
5.1. Second year onwards, Insurance will be done by the employee. In case the employee opts for insurance cover by Royal Sundaram or Oriental, the Sundaram Finance can take care of renewals, but the cost has to be borne by the employee.
- 6. Foreclosure
6.1. In case of foreclosure, value would be arrived at by discounting the balance rentals and the resale value considered in the package. The discount factor would be the prevailing SBI-PLR (Current PLR is 10.25% p.a.)
6.2. However, if the leasing company obtains the sale proceeds of the vehicle, the employee will be liable to pay only to the extent the net sale proceeds are less than the foreclosure charges.
ANNEXURE II
Application to join Company Car Scheme
Name: _____________________ Department: _________________
Designation: ________________ E-Mail Id: ___________________ _
Mobile No: __________________ Date: ________________________
To,
The Administration Department.
Kind Attn: Mr. R K Attal
Sub: Request for a car under Company Car Lease Scheme
Dear Sir,
I request you to provide me a car as per the following details. I have read the rules governing the scheme and agree to abide by the same and amendments, if any, to the same.
Yours faithfully,
Name and Signature of the employee
| DETAILS OF CAR | |||
| Car Make/ Model | |||
| Car Kitty Eligibility per annum | |||
| Desired Date of Delivery | |||
| Option | ¨ Option 1 | ¨ Option 2 | ¨ Option 3 |
| Tenure /Resale Value | 3 Yrs / 25% | 4 Yrs / 20% | 5 Yrs / 15% |
| Current Lease Rental plpm (A) | |||
| Heads | Cost | To be Rentalized (Y/N) | Cost to be Rentalized |
| Ex-Showroom Cost of Car | |||
| Insurance | |||
| Registration | |||
| Octroi / Other Taxes | |||
| Cost of Accessories | |||
| Total Cost to be Rentalized (B) | |||
| Monthly Lease Rental [(A*B)/100,000] | |||
|
|
Copy of e-mail having HOD’s approval attached herewith
Manager-Admin CFO
ANNEXURE III
(To Be Executed on Rs. 20/- Stamp Paper)
UNDERTAKING
Name of the Employee : __________________ _____
Residential Address : _______________________
_______________________
_______________________
_______________________
ABC India Ltd.
Attn: Mr. R.K.Attal
Plot No. 5, Off BKC Road,
Off CST Road,
Santacruz (E), Mumbai – 98
Date:
Dear Sir,
Car Scheme
In consideration of your having admitted me to the company’s car scheme and provided me with car ( No.,________________ Make __________________ ) hereinafter called “the car” with effect from ______________ on the terms and conditions of the said scheme, I undertake to the Company as follows :-
1) I have read all terms and conditions of the scheme and I agree to, accept and abide by all the terms and conditions laid down by the Company in the Car Scheme and amendment if any, thereof.
2) The car is registered in the name of the Company, but shall remain the property of the Leasing Company.
3) In case of any dispute, which may arise between the Company and me, the Leasing Company will have the right to re-posses the car any time during the leasing period.
4) I shall use the car only for my personal and official use. I shall not put the car to use on hire or reward and shall not use the car for any unlawful purpose.
5) In case of my separation from the Company for any reason whatsoever including resignation, retirement, VRS, dismissal, etc., I hereby agree to bear the foreclosure charges and hereby authorize the company to adjust the said charges from my terminal dues and in case of shortfall if any I shall forthwith make good the same to the Company.
6) Not withstanding the aforesaid, I / my legal heirs shall be personally liable to pay to the Company all amounts due from me under this scheme and to pay the same to you on demand and without demur and notwithstanding any dispute/ difference that may be subsisting between me/ my legal heirs and the Company.
7) The agreement shall bind in all respect heirs executors legal representatives and myself. I further agree that the Company shall have the same rights against my heirs, executors and legal representatives, as it has against me under this agreement.
8) I understand that on execution of this Undertaking, monthly pay out to me out of my annual car kitty entitlement will stop.
9) I had been given two salary structures viz. “With Car” and “Without Car” in my initial offer letter / at the time of my salary review. I understand that once I join this scheme, the “With Car” structure will come into effect from the month in which the car lease period starts and same shall be applicable during the period that I am part of the scheme.
10) However, in case the monthly lease rent is less than the one twelfth of the annual car kitty entitlement, the differential amount would be added to the Personal Allowance and paid out to the employee through salary on a monthly basis. The said amount would be taxable.
11) The scheme would be governed by the tax regime as applicable from time to time, and any implications thereof would be to my account.
Yours faithfully,
Signature of the Employee
Name: ___________________________
Place: ___________________________
Date: ___________________________
Witness: _________________________
Signature________________________
Name: ___________________________
Address: ________________________
__________________________
ANNEXURE IV
Authorization Letter to Lease Finance Company to make the payment to the dealer
Date:
Sundaram Finance Limited
95, 9th Floor,
Maker Chambers III,
Nariman Point,
Mumbai – 400 021
Subject: Car for <Employee Name>
Dear Sir,
With reference to our leasing arrangement for cars, please find enclosed the proforma invoice dated ___________ raised by <Dealer’s Name>, amounting to ______________. The terms of the transactions are as follows:
Nature of Asset :
Cost of Asset :
Lease Tenure :
Lease Rentals :
Lease Management Fee :
You are requested to arrange for the insurance, which may also be capitalized.
You are requested to issue a cheque favoring <Name of Dealer> payable at <Location> for Rs ___________ and also forward the necessary documents for registration of the vehicle.
Thanking you,
For ABC (India) Ltd.
Authorized Signatory
ANNEXURE V
Letter of Authority to take the delivery of Car
Date: ____________
To,
Dealer’s Name
Address
Reg: Supply of one _______ Car leased to us by M/s Sundaram Finance Limited
Ref: Your proforma invoice dated ___________
Dear Sir/ Madam,
We hereby authorize <Employee’s Name & Designation> of M/s ABC (India) Limited, whose signature is attested below, to collect the ______________ Model which is leased out to us by < Name of Lease Finance Co.>.
All documents signed by <Employee’s Name & Designation> in this regard shall be binding on the Company.
…………………………………..(Signature of authorized representative)
For ABC (INDIA) LTD.,
CFO
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