The document is an offer letter from HDFC Standard Life Insurance offering Mudit Mishra a role as Sales Development Manager in their Pune - Law College office. It details his compensation package including a fixed CTC of Rs. 200,000 per month along with details of variable compensation based on performance. Mudit is required to sign and return the duplicate copy of the offer letter within one week to accept the offer.

1. Date: 02-Mar-2012
To,
Mudit Mishra
F-17, Kumar Park
Bibhvewadi
Khondwe Road
Pune-411037
Dear Mudit Mishra.
Subject: Offer of Employment
With reference to your application and the subsequent interviews, we are pleased to offer you a promising career with us. You
would be a part of Agency function, as Sales Development Manager based at our Pune - Law College Office. A detailed
Compensation package is attached along with this letter.
An appointment letter along with the terms and conditions of employment will be issued to you on joining.
You are required to sign and return to us the duplicate copy of this offer letter clearly indicating your date of joining, within one week
from the date of issue. Please note that the offer stands valid subject to you communicating your acceptance within one week and
you joining within one month from the date of issue of this letter.
We hope to have a long term and mutually beneficial relationship. Wish you a very successful career with HDFC Standard Life
Insurance.
Warm Regards,
For & on behalf of HDFCSL Co Ltd.
Abhay Dhayagude
AVP - Human Resources

2. Date: 02-Mar-2012
Name: Mudit Mishra
Designation: Sales Development Manager
Location: Pune - Law College
Band: E
Fixed CTC
Per Annual (Rs) Per Month (Rs)
Salary Part
Basic 60,000 5,000
House Rent Allowance 30,000 2,500
Conveyance 9,600 800
Special Allowance 85,300 7,108
Monthly Gross 184,900 15,408
Retirement and Other
Benefits
Hospitalization 5,000
Provident Fund 7,200
Gratuity 2,900
Total Fixed CTC 200,000

3. Illustration
Variable Compensation:
Your monthly payout will be the higher amount of Total Fixed CTC per month mentioned above OR Monthly Variable Pay for that
month. Details of the earning potential are given below.
1. Monthly Variable Pay - 12% of FYNRP*
2. Annual Bonus – Up to 5% of FYNRP (based on productivity)
3. Self Sourced Incentive - 75% of Implied FC commissions
4. Reimbursements – Up to Rs 1000 p.m.*
*subject to achieving certain distribution criteria.
Note: This is the current variable plan applicable in the Agency channel.
Other Eligibilities
On appointment you will be covered under the Group Term insurance as per company policy for a term cover of Rs. 750,000.
Illustration of earning potential:
Business for the month (FYNRP*) Amount (Rs)
FC based business 100000
Self sourced business 100000
Total Business 200000
Total Fixed CTC per month (assumed) 20833
Variable accrued @ 12% of Total Business 24000
Higher of Fixed CTC pm or Monthly Variable 24000
Implied Commission on Self Sourced Business (75% of an assumed 6% FC
commission) 4500
Total Earnings for the month** 28500
Illustrative Annual Bonus @ Total business of Rs 2 lacs pm or 24 lacs pa 72000
*First year net received premium
** This is subject to statutory and income tax deductions.

4. Date: 02-Mar-2012
To,
Mudit Mishra
F-17, Kumar Park
Bibhvewadi
Khondwe Road
Pune-411037
Dear Mudit Mishra.
Subject: Offer of Employment
With reference to your application and the subsequent interviews, we are pleased to offer you a promising career with us. You
would be a part of Agency function, as Sales Development Manager based at our Pune - Law College Office. A detailed
Compensation package is attached along with this letter.
An appointment letter along with the terms and conditions of employment will be issued to you on joining.
You are required to sign and return to us the duplicate copy of this offer letter clearly indicating your date of joining, within one week
from the date of issue. Please note that the offer stands valid subject to you communicating your acceptance within one week and
you joining within one month from the date of issue of this letter.
We hope to have a long term and mutually beneficial relationship. Wish you a very successful career with HDFC Standard Life
Insurance.
Warm Regards,
For & on behalf of HDFCSL Co Ltd.
Abhay Dhayagude
AVP - Human Resources

5. Date: 02-Mar-2012
Name: Mudit Mishra
Designation: Sales Development Manager
Location: Pune - Law College
Band: E
Fixed CTC
Per Annual (Rs) Per Month (Rs)
Salary Part
Basic 60,000 5,000
House Rent Allowance 30,000 2,500
Conveyance 9,600 800
Special Allowance 85,300 7,108
Monthly Gross 184,900 15,408
Retirement and Other
Benefits
Hospitalization 5,000
Provident Fund 7,200
Gratuity 2,900
Total Fixed CTC 200,000

6. Illustration
Variable Compensation:
Your monthly payout will be the higher amount of Total Fixed CTC per month mentioned above OR Monthly Variable Pay for that
month. Details of the earning potential are given below.
5. Monthly Variable Pay - 12% of FYNRP*
6. Annual Bonus – Up to 5% of FYNRP (based on productivity)
7. Self Sourced Incentive - 75% of Implied FC commissions
8. Reimbursements – Up to Rs 1000 p.m.*
*subject to achieving certain distribution criteria.
Note: This is the current variable plan applicable in the Agency channel.
Other Eligibilities
On appointment you will be covered under the Group Term insurance as per company policy for a term cover of Rs. 750,000.
Illustration of earning potential:
Business for the month (FYNRP*) Amount (Rs)
FC based business 100000
Self sourced business 100000
Total Business 200000
Total Fixed CTC per month (assumed) 20833
Variable accrued @ 12% of Total Business 24000
Higher of Fixed CTC pm or Monthly Variable 24000
Implied Commission on Self Sourced Business (75% of an assumed 6% FC
commission) 4500
Total Earnings for the month** 28500
Illustrative Annual Bonus @ Total business of Rs 2 lacs pm or 24 lacs pa 72000
*First year net received premium
** This is subject to statutory and income tax deductions.
I confirm that the above terms and conditions are correct reproduction of what I have discussed and agreed upon with the
management.
Signature : ________________
Date : _________________