To provide policy guideline

1. EXIT POLICY
The objective of ExitPolicyistoensure smoothseparationordepartof the EmployeesorTrainee from
the organizational works.
RESPONSIIBIILIITY AND MANAGEMENT
 Final DiscussionswithResignedEmployee–Corporate HR / Site HR
 ExitInterview –Corporate HR / Site HR
 Acceptance of Resignation –Functional Head
 Othertasks - Corporate HR / Site HR
An Employee orTrainee isseparatedfromhisorherserviceswiththe Companydue tothe following
(whichhave beencoveredindetailindifferentsub-clausesinthispolicy):
 Resignation
 Termination
 Death
 Superannuation
RESIGNATION
 Anyemployee whoisintendingtogetrelievedfromthe servicesinbetweenthe Service period/
contract periodshall tenderhis/herresignationinadvance asspecifiedinthe appointment
letter(one month).
 Employeeswhoisunderthe probationperiodshall tenderhis/herresignationwitha15 days
notice period
 Resignationsshallbe routedthroughthe immediate supervisor/managerenablehim/hertofind
a replacementwithinthe notice period.
 AROH empowerstoforfeitthe duesincase of anemployee leavesthe organizationwithouta
priornotice/intimationinwriting.
 Employee’sSalaryforthe daysworkedduringthe notice periodwillbe settledalongwithother
duesas a Full & Final Settlement.
 Pro-ratabenefitsandperquisiteswill alsobe available toall employeesonseparation.
 Whenthe resignationhasbeenacceptedbyDepartment/Functional/UnitHead,butrequires
final discussionswiththe ResignedEmployee orTrainee,Corporate HR/Site HR shall undertake
the Final Talks.
 Witha viewtopickup feedbackfromthe employee whohassubmittedhis/herresignation,the
Corporate HR / Site HR may conduct an ExitInterview.
 ResignationAcceptanceLettershall indicate the date of relievingandadvisinghimorherto
returnand handoverthe Companypropertiesordocument(s) if any.
 Full & Final settlementissubjecttosubmissionof NODUESCERTIFICATEdulysignedby
respective HOD.

2. Handing Over & No ObjectionCertificate
 Anyemployee whotendershis/herresignationwill be onanotice periodasper the agreed
employmentterms.Duringthattenure it’sthe moral responsibilityof suchemployee tohand
overhispossessionsandpropertiesbelongingtothe companytothe assigned
person/supervisor/managerbefore relievedfromhis/herservices.
 Supervisor/Managershall initiate the processandthe newlyjoinedemployee will take over
charges& responsibilitiesfromthe outgoingemployee bysigninghis/herrelease clearance form
on the lastday of working.
 The outgoingemployeeshall furnishall the information/documentsrelevanttothe profile with
the newlyjoinedemployeeforasmoothfunctioning.
 On the final dayof the employmentthe outgoingemployeeshall ensure his/herNOC/ Release
Clearance Form withobtainedsignaturesof the concernedreachesthe HumanResources
Departmentinorderto processhis/herSettlement.
 On the closinghoursof the last workingdaythe employee’sservice come tocessationandstand
relievedfromhisduties.
TERMINATION
Terminationof servicesof regularEmployeeorTrainee ismade onthe groundsof Long Absenteeism
and/orany otherDisciplinaryAction(s).
In case of Terminationdue toanydisciplinaryaction,the concernedemployee isrelievedonthe very
same day. All the followingprocessesare undertakenonthe same day.
 NO DUES CERTIFICATEdulysignedbyrespective HOD
 Full & Final Settlementchequehandedover
 All Legal duespaidandreceiptobtainedfromthe employee.
 Handingoverall informationandequipment
NOTE: All the Noticesasperapplicable StandingOrdersshall be sentinthe name of the concerned
Employee throughthe HRhead.
SEPARATION DUE TO DEATH
 On account of Deathof the Employee,all processesare followedasperthe above mentioned
Sub-sectionsdescribingNoDuesClearance,SuperannuationFundScheme,gratuity& Full &
Final Settlement.
 Cheque of duesandothersispaidto the declarednominee(s)of the Employee.
RETIREMENT POLICY FOR REGULAR EMPLOYEES (Superannuation)
 Every employee willretire fromthe servicesfromthe companyonattainingthe age of
superannuationi.e.60years,as per the date of birthrecordedinthe company’srecords.

3.  The managementmayat itssole discretiongrantannual extensionbeyondthe age of
superannuationincase of the companydesirestoavail the servicesof the retiredemployee.
Alternativelyhe canbe engagedonannual contract basiseitheronperdiemallowance orfixed
monthlyremunerationonmutuallyagreedtermsandconditions.The personwill notbe entitled
to any long-termbenefits.
 The above is subjecttojobrequirement,satisfactoryservice andcontinuinggoodhealthof the
employee.The authoritytoapprove suchextension(s)willrestwiththe CEO.
 Corporate HR will intimate tothe concernedretiringemployee threemonthsinadvance
throughrespective Reportingofficer/HOD.
 Duringthe above interveningperiod,the employee will be requiredtoobtainnecessary
clearance fromall concerneddepartments.The HRandAccountDept.will prepare employee’s
full andfinal settlementsuchassalary,balance of leave,gratuityandmedical reimbursement
encashment,if any,forsettlingthe employee’sduestimely.
 Retirementcasesof the officersof the level of GM& above will be putupto the Chairmanprior
to intimationtothe concernedemployee.
 On the day of retirement,asmall get-togetherwill be arrangedbythe concerneddepartment
and an appropriate mementotakingintoaccountthe employee’sservice/seniorityinthe
companywill be presented.
EXIT INTERVIEW
The Employee orTrainee whohassubmittedthe Resignationshall attendthe ExitInterview toshare his
or her opinionsandviewsonthe Company’spolicies,procedures,systemsandpracticesfor
improvementinthese areas.
 An ExitInterviewisarrangedandconductedbythe Corporate HR / Site HR
 ExitInterviewshallbe conductedbeforeprocessingFull &Final Settlement.
 In case of SeparationowingtoTerminationNOExitInterview isconducted.
FULL & FINALSETTLEMENT
 For processingFull &Final Settlement,followingaspectsare thoroughlychecked&
calculated
 AccumulatedLeave asondate forcalculatingLeave Encashment
 Years of Service more thanFIVEYEARS for GratuityAmount
 InformationinNoDuesClearance Formforany Loan RecoveryorSalaryPayable
 Employee/Traineewho’sNoDuesClearance isnotcleareddue tovariousreasons,their
Full & Final Settlementiskeptpending.Afterclearingall the dues,hisorherFull & Final
Settlementisprocessed.
 In case,an Employee/Traineewantstobe relievedearlybefore completionof hisorher
specifiedNotice Period,Notice PayisrecoveredfromhisorherSettlementAmount.All
legal duesasper the normal resignationare giventothe Employee/Trainee.

4. GRATUITY
 As perthe gratuityact an employee whocompletes5yearsor more continuousservice oreither
resignsorretiresor servicesterminatedordismissedordischargedare liabletobe paidgratuity
at the rate of 15 daysBasic salaryfor eachcompletedyearof service toa maximumof Rs.
3,50,000.00 or 20 monthssalarywhicheverisless.
 For the purpose of gratuityone monthconsistsof 26 days.The paymenttowardsGratuityis
payable toall the employees.
DISQUALIFICATIONAND FORFEITURE
NotwithstandinganythingcontainedinthisGratuityScheme.
 The gratuityof an employee,whoseserviceshave beenterminatedforanyact,willful
omissionornegligence causinganydamage orlossto or destructionof propertybelonging
to the company,shall be forfeitedtothe extentof the damage of the loss.
 The gratuitypayable toan employee canbe whollyforfeitedif:
 The servicesof suchemployee have beenterminatedforriotousordisorderlyconductor
any otheract of violationonhis/herpart,or
 The servicesof suchemployee have beenterminatedforanyact,whichconstitutesan
offence involvingmoral turpitude;providedthat s/he commitssuchoffenceduringthe
course of his/heremployment.
STATUTORY DEDUCTION OF INCOME TAX
The company shall deductfromthe grossamountof Gratuityto whichthe employeeisentitled,any
income tax,supertax or any statutorytax,whichthe employee isliable topay,andshall payto the
employeethe netamountafterdeduction.
PROVIDENT FUND
All employeesare coveredunderthe EmployeesProvidentFundandMiscellaneousProvisionsAct,1952
and shall contribute 12%of Basicper monthor as fixedunderthe saidActfromtime to time.The
Companyshall make a matchingcontribution.Contributionstothe Fundcommence witheffectfromthe
date of joiningof the employee.
As perthe saidAct, an employeecanmake voluntarycontributionstothe Fund.However,the company
will notbe liable tomatchany contributionmade bythe employee overthe entitledamount.
As perthe provisionsof the EPF & MP Act,1952, employeesmayapplyfora loanagainsttheir
accumulatedProvidentFundbalance forthe followingpurposes:
a. Housing
b. Illness

5. c. Marriage
d. Education
e. Natural Calamities
An amountof 12% of the Basicsalary isdeductedfromthe salaryof the employee withmatching/
equivalentemployer’scontribution.
For Transferringand/orWithdrawingthe PFAmount,Employeehasthe optiontofill the respective
Formsavailable withCorporate HR/ Site HR andsubmitthe same withHR.