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Compensation Policy OBJECTIVE: To provide for a uniform, stable and reasonably competitive compensation structure for all employees.

GRADES & DESIGNATIONS To rationalise the compensation policy, positions are classified into grades. The grades and respective designations are as below: GRADE Executives M-10 M-9 M-8 M-7 M-6 M-5 M-4 M-3 M-2 M-1 GET Tr. Officers DESIGNATION M.D, C.O.O, President, Sr. V.P, V.P Sr. General Manager General Manager Dy. General Manager Sr. Manager Manager Dy. Manager Asst. Manager Executive Sr. Officer Officer Graduate Engineer Trainee Trainee Officers

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BASIC SCALE The basic scale would be as per the terms of employment and revisions from time to time. Grade M-1 Designation Officer Basic Pay Structure 2000-125-2125-125-2250-125-2375-125-2500-1252625-125-2750-125-2875- - M-2 Sr. Officer 3000-175-3175-175-3350-175-3525-175-3700-1753875-175-4050-175-4225- - M-3 Executive 4000-225-4225-225-4450-225-4675-225-4900-2255125-225-5350-225-5575- - M-4 Asst. Manager 5000-275-5550-275-5825-275-6100-275-6375-2756650-275-6925-275- - M-5 Dy. Manager 6000-325-6325-6650-325-6975-325-7300-325-7625325-7950-325- - M-6 Manager 9000-375-9375-375-9750-375-10125-375-10500-37510875-375-11250- - M-7 Sr. Manager 11275-425-11700-425-12125-425-12550-425-12975425-13400- - M-8 Dy. General Manager 15000-500-15500-500-16000-500-16500-500-17000500-17500- - M-9 General Manager 17000-600-17600-600-18200-600-18800-600-19400600-20000-600- - M-10 Sr. General Manager 24000-700-24700-700-25400-700-26100-700-26800700-27500- - -

HOUSE RENT ALLOWANCE

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Management Staff not provided with any type of Company Accommodation i.e either company owned or leased, will be paid House Rent Allowance at 40% of Basic Salary. CONVEYANCE ALLOWANCE Management staff not provided with Company Car will be paid conveyance allowance as follows: Grades M-1 to M-4 M-5 M-6 M-7 M-8 M-9 to M-10 Allowance (Rs. per month) 500 800 1500 2000 2500 3000

EDUCATION ALLOWANCE Management Staff will be entitled to Education Allowance as follows: Grades M-1 to M-10 Allowance (Rs. per month) Rs.200/-

MEDICAL ALLOWANCE Management staff will be paid Medical allowance @ 8.33% of Basic Salary per month.

LEAVE TRAVEL ASSISTANCE Eligibility

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Management staff will be entitled to LTA on completion of one year

of service subject to confirmation of services. However, pro-rata LTA will be paid at the time of F&F even if 1 year is not completed. LTA will be calculated on a calendar year basis (i.e. January to December every year.) and on pro-rata basis for the part of the year. Quantum Of LTA The LTA will be paid at the rate of one months Basic salary per year. For claiming LTA with Tax Deduction at Source No leave will be required for claiming LTA with tax deduction. An application to be made to HR Department for claiming LTA in the

prescribed format. For claiming LTA to avail Income Tax Exemption

A minimum of six days Leave should be availed for claiming LTA. LTA should be claimed in the prescribed form. Approval of Leave must be attached at the time of claiming LTA. Any two journeys (LTA) can be claimed for tax exemption in a block

of four years beginning from January 2002. LTA for self and family is admissible for tax exemption. Definition Of Block Of Four Years Under the present Income Tax Rules, a period of four calendar years beginning from the Year 2002 to 2005 has been defined as a block of four years during which you may avail LTA twice and avail tax exemption. Definition Of A Family Family includes: The spouse and children of an individual; and The parents, brothers and sisters of an individual or any of them,

wholly or mainly dependent on the individual

Quantum Of Exemption Under The IT Act

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Quantum of Exemption The amount of LTA for self and family permissible under the Income Tax Act for exemption is as follows:

For journeys performed by Air: Economy fare of Indian Airlines by

the shortest route to the place of destination. For journeys performed by Rail: Airconditioned first class rail fare

by the shortest route to the place of destination. For journeys performed by Road: The amount equivalent to Air

conditioned first class rail fare, for the distance of journey by the shortest route, as if the journey had been performed by rail. Documents Required For Claiming Exemption The following documents must be produced along with the prescribed LTA claim form: Mode of travel Rail Air Road Documents Photocopies of railway tickets Original Jacket of used tickets By own vehicle: Petrol bills By hired car: Advance For LTA An advance for LTA can be availed for booking tickets by making an application to HR Dept together with a copy of the approved leave application. The advance will be paid up to 70% of entitlement. The balance amount shall be paid on production of travel tickets within seven days of completion of the journey, failing which the advance will be recovered from the salary. Accumulation Of LTA Accumulation of unavailed LTA is allowed upto two years within the block of four years specified under the Income Tax Rules. However, the fourth years LTA cannot be carried forward to the next block for accumulation purposes. The current block is for the period of calendar year 2002-2005. Bill of the Operator Proof indicating the places visited

TELEPHONE ALLOWANCE Telephone Allowance will be paid as under:

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Grades M-1 M-2 M-3 M-4 M-5 M-6 M-7 M-8 M-9 to M-10 Allowance (Rs. per month) 200 300 400 500 600 800 1000 1200 1500

SOFT FURNISHING ALLOWANCE Soft Furnishing Allowance will be paid as under: Grades M-1 to M-2 M-3 M-4 to M-5 M-6 to M-7 M-8 to M-10 Allowance (Rs. per month) 200 400 600 800 1000

BOOKS & PERIODICALS ALLOWANCE Books & Periodicals Allowance will be paid as under:

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Grades M-1 to M-4 M-5 M-6 M-7 M-8 M-9 to M-10 Allowance (Rs. per month) nil 200 400 600 800 1000

DRIVER ALLOWANCE Driver Allowance will be paid as under: Grades M-1 to M-7 M-8 M-9 to M-10 Allowance (Rs. per month) nil 1500 2000

PETROL ALLOWANCE Petrol Allowance will be paid as under: Grades M-1 to M-7 M-8 M-9 to M-10 Allowance (Rs. per month) nil 2500 3000

EX-GRATIA Management staff will be paid Ex-Gratia @ 8.33% of Basic Salary per month. *****