Offer Letter - Copy

Mr. Sushil Yadav Unit : Department: Designation: Job Band Equivalent: Location: Next revision on :

Amount (INR) Salary

Annual

Aditya Birla Retail Limited Project Senior Officer 11 Badli 1-Jul-10 Remarks

74520 Basic Salary

74520

Allowances / reimbursements Medical

14400

This covers domiciliary expenses incurred on medical conditions such illness etc. These cover those expenses for which one door not have get admitted to a hospital. These are to be claimed against medical bills obtained from the chemist etc. This amount is tax free subject to the relevant bills being produced.

Leave Travel Allowance

12000

This Covers reimbursement for travel on leave within India. It is governed by the IT Act where one can take tax exemptions twice in a block of four years.

Education Allowance

24000

This amount is paid as part of salary. This is not against any claim.

132000

This is paid on a monthly basis.This does not have any link to retirement benefits or any other element of compensation.

Special Allowance

Guaranteed Cash Retirement Benefits Provident Fund (12% of Basic)

Superannuation (10% of basic)

This is paid on a monthly basis. Retirement benefits and HRA are linked to it. 182400

256920 19977 8942

The employer contributes to the extent of 12% of basic salary. This amount is deposited with the PF Trust of the company. Similar amount if deducted from employee's basic salary as his contribution.

7452

The employee contribution to the extent of 10% of basic salary to a pension fund. This is computed to provide for pension. This amount can also be cashed out as Superannuation Allowance.

Conveyance

36000 Conveyance

36000

Loans

This amount is paid as a part of the monthly salary. 0

Housing

37260 HRA

37260

Fixed Compensation Varialbe Pay Performance Incentive Plan

This is valued at 50% of the basic salary. 350157 35000 This amount is the target pay on achievement of 100% of the targets set i.e. a rating of 3 on a 5 point rating scale. The amount indicated here is for a performance period of 12 months. AprilMarch. The actual payout will vary due to performance levels and period worked in the performance period.

35000

Cost to Company

385157

Benefits / Perks not valued Hospitalization Insurance Accident Insurance

Yes

As per company's policy.

Yes

As per company's policy.

* Taxes as applicable, to be borne by incumbent, as per prevailing tax laws.