The document outlines the remuneration policy for employees of UMCL, dividing them into two categories: workmen and officers. It details the salary components, allowances, and social security provisions like PF, gratuity, and health insurance. Remuneration is reviewed annually based on individual performance against goals, company performance, and market position. The appraisal process differs for workmen, junior officers, and senior management.

1. Remuneration Policy for Employees (including Senior
Management Personnel)
The entire employee structure of UMCL is divided in two categories and Levels
a) Employees of Workmen Category : W1A, W1, W2, W3, W4, W5
b) Employees of Officers category : M8, M7, M6, M5, M4, M3, M2,
M1, M0, E3, E3A, E2, E2A
Designations of Officers Category employees are:
Junior Officer (M8), Officer (M7), Sr. Officer (M6), Executive (M5), Sr. Executive
(M4), Asst. Manager (M3), Deputy Manager (M2), Manager (M1), Sr. Manager
(M0), Deputy General Manager (E3), Sr. Deputy General Manager (E3A), General
Manager (E2), Sr. General Manager (E2A), Vice President, Sr. Vice President,
Executive Director.
Remuneration Policy:
The various components of Remuneration Policy of the employees of both the
category are as under:
• Basic salary
• Dearness allowance
• Performance pay
• House Rent Allowance
• Conveyance Allowance
• Medical Allowance
• Educational Allowance
• Tour Allowance/ Reimbursement
• Food Allowance/ Reimbursement
• Washing Allowance
• Personal Incentive
• Leave Travelling Allowance
• Provident Fund
• Gratuity
• others
• Superannuation
All the categories of employees other than senior management staff has fixed pay
who are working in UM Cables Limited, Silvassa.
Social Security Provisions:
Keeping in view of the Social Security, the company has an exempted Provident
Fund Scheme which enables an officer to contribute voluntary contribution over and
above 12% (statutory) up to a maximum limit of his basic pay.

2. The Gratuity scheme has been also been framed so that officers with higher duration
of service can earn much more than statutory payment. At present, if an officer
completes 10 years of service he is entitled to get a gratuity @22.5 days of every
completed year of service and for the officers who have completed 15 years will get
one month’s salary subject to a maximum of 20 months’ salary.
The senior management is also entitled for a company car.
All the employees including the Senior Management employees are coved under the
Group Medi-claim Policy of the company. The benefits of the policy are extending
to the family member of employees excluding parents.
Factors influencing remuneration of the employees other than senior level
management
Remuneration process: Employee remuneration is reviewed annually. Employees'
rewards are influenced by three factors: individual performance, company
performance and market position.
Individual performance: This element of remuneration is based on the employee's
relative performance against the goals and individual objectives that have been set
for them for the year under review.
Company performance: A percentage component of total remuneration is based on
the performance of the company measured against the target set for the year under
review.
This process aligns business objectives with specific and measurable individual
objectives and targets. For the Workmen Category employees the Assessment Period
is July to June and for the Officer Category employees the Period of Assessment if
April to march of the preceding year.
Following is the Appraisal Flow Chart for the Workmen and Officers Category
Employees.
Appraisal Flow Chart
W1, W2, W3, W4, M8 to M2 M1 to E2A
Appraisee (Self ) Appraisee (Self) Appraisee (Self)
Appraiser ( HOD )
Appraiser(HOD/Head
Operations)
Appraiser(Ex-Director-
CFO)
Reviewer (Head
Operations)
Reviewer (Ex.
Director-CFO)
Reviewer (Ex. Director-
CFO)