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Ref: HR/Policy/EP/01

Exit Policy
Version: 01
Human Resource
Effective date:

Exit Policy

To provide guidelines for employees during exit from employment.

Resignation Process:

The Company recognizes that an employee may wish to continue his/her career in organization
other than the Company or pursue other interest.

Employee who wishes to resign shall approach his/her immediate manager and handover the
resignation via hardcopy or through mail .The same should be sent to HR with mutually agreed last
working day.

Salient Points:

 The Employee will be obliged to serve the required notice period. Should the Employee
choose not to serve the notice period, the employee is obliged to pay the Company a sum
equal to the amount of salary that would have accrued to the Staff member during the
period of notice. Salary will consist of all components of the staff members’ monthly gross
salary excluding reimbursements.
 The decision to waive the Notice Period and amounts in lieu thereof will have to be
recommended by the respective manager to the management for approval. This will be
considered only in exceptional cases and this is at the discretion of Managing Director.
 The decision to adjust notice period against the number of days of Leave to the Employee’s
credit, will only be taken in exceptional circumstances and will be approved by the Managing
 Employee must complete the handing over of work and all materials entrusted to his/her
care to his/her manager. In case of any loss or damage to company’s assets, the amount
will be deducted from the employee’s full and final.
 No benefits will accrue to the employee after his/her last working day with the organization.
 On last working day employee will fill exit interview form and exit clearance form.
 Full and final settlement of employee will be done within 30 days from date of leaving.

Termination of Services:
The services of an employee may be terminated under following circumstances:
 Non Performance: If an employee does not meet expected performance standards and
performance management processes have not been adequate to address the issue.
 Misconduct which includes dishonesty, assault, deliberately endangering the safety of
others, commission of a criminal offence, accepting bribe or any act which amounts to
 Lapse in confidentiality of information policy: Involved in leaking of company’s confidential
 Presentation of false /misleading past record/ information: If past information provided by
the employee during the appointment found to be false, misleading or deliberately
 Integrity Issues: In case of behaviour or conduct is found wanting or undesirable.

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Exit Policy
Human Resource

 Employee being convicted under any court of law etc.

 Breach of the Company policies and/or The Code of Conduct.

Retirement age is 60 years

Abandonment of services
Abandonment of services is deemed to have occurred when an employee keeps away from duty
without sanction for 7 consecutive days. Accordingly, in such cases, the employee’s name will be
removed from the rolls of the company. This will be done by the HR Department, after following
due course of action.

In all the exit cases (mentioned above) irrespective of the reason of exit, it’s the duty of employee
to complete the clearance formalities from all the departments and submit the duly filled and
signed clearance form to HR before leaving the organization.

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