Dear (first name),
We have pleasure in appointing you as (designation-department) in our organization, effective (joining date) on the following terms and conditions:
1. Placement & Compensation
You will be placed in the appropriate band / responsibility level of the Company, and will be entitled to compensation (salary and other applicable benefits) as detailed in Annexure “A”. Compensation will be governed by the rules of the Company on the subject, as applicable and/or amended hereafter.
2. Salary revision
Your salary will be reviewed on April 1st of each year, or at such other time as the Management may decide. Salary revisions are discretionary and will be subject to, and on the basis of, effective performance and results.
3. Posting & Transfer
Your initial posting will be at “)”. However, your services are liable to be transferred, at the sole discretion of Management, in such other capacity as the company may determine, to any department / section, location, associate, sister concern or subsidiary, at any place in India or abroad, whether existing today or which may come up in future. In such a case, you will be governed by the terms and conditions of the service applicable at the new placement location.
That you will be on probation for a period of six months. The period of probation can be extended at the discretion of the Management and you will continue to be on probation till an order of confirmation has been issued in writing.
5. Full time employment
Your position is a whole time employment with the Company and you shall devote yourself exclusively to the business and interests of the company. You will not take up any other work for remuneration (part time or otherwise) or work in an advisory capacity, or be interested directly or indirectly (except as shareholder / debenture holder), in any other trade or business during your employment with the company, without permission in writing of the Board of Directors of the Company. You will also not seek membership of any local or public bodies without first obtaining specific permission from the Management.
You will not, at any time, during the employment or after, without the consent of the Board of Directors disclose or divulge or make public, except on legal obligations, any information regarding the Company’s affairs or administration or research carried out, whether the same is confided to you or becomes known to you in the course of your service or otherwise.
7. Intellectual Property
If you conceive any new or advanced method of improving designs/ processes/ formulae/ systems, etc. in relation to the business/ operations of the Company, such developments will be fully communicated to the company and will be, and remain, the sole right/ property of the Company.
8. Responsibilities & Duties
Your work in the organization will be subject to the rules and regulations of the organization as laid down in relation to conduct, discipline and other matters. You will always be alive to responsibilities and duties attached to your office and conduct yourself accordingly. You must effectively perform to ensure results.
If any declaration given, or information furnished by you, to the company proves to be false, or if you are found to have willfully suppressed any material information, in such cases, you will be liable to removal from services without any notice.
The retirement age is 58 years. You will retire from the employment of the Company at the end of the month in which you attain 58 years of age.
11. Termination of employment
During the probationary period and any extension thereof, your services may be terminated on either side by giving one month’s notice or salary in lieu thereof. However, on confirmation the services can be terminated from either side by giving two months (60 days) notice or salary in lieu thereof.
Upon termination of employment, you will immediately hand over to the Company all correspondence, specifications, formulae, books, documents, market data, cost data, drawings, affects or records belonging to the Company or relating to its business and shall not retain or make copies of these items.
Upon termination of employment, you will also return all company property, which may be in your possession.
12. Medical Fitness
This appointment is subject to your being, and remaining, medically fit.
Please confirm your acceptance of the appointment on the above terms and conditions by signing and returning this letter for our records.
I have read the terms and conditions of this letter of appointment and confirm my acceptance of the same.
(Signature and Date)
ANNEXURE ‘A’ : COMPENSATION DETAILS (Salary & applicable benefits)
Date of joining :
Basic Salary Rs. /- per month
House Rent Allowance Rs. /- per month
Special Allowance Rs. /- per month
Conveyance Allowance Rs. /- per month
Medical reimbursement Limit Rs. /- per annum