SECURITY AGENCY AGREEMENT

This agreement made at Tirupati on this 30th day of March in the year 2016 between
M/S. SRI GARUDA MAN POWER SECURITY & HOUSE KEEPING SERVICES a
company incorporated under the companies Act, 1956, having its Head Office at TIRUPATI
through its authorized signatory M. ESWAR PRASAD, S/o M. SAMBASIVAIAH,
Door No.18-3-63, Srihari Colony, K.T. Road, TIRUPATI, (Name, Father’s Name & address)
hereinafter referred to as “SECURITY AGENCY” (which term shall so far as the context
admits be deemed to mean and include its permitted successors and assigns) of the First Part:
AND
This Karur Vysya Bank Ltd., a Scheduled Bank, Incorporated under the Indian Companies
Act 1913 having its central office at Karur and among other places a Branch/Office at 632,
Opp: Municipal Office, Mosque Road, Tirupati-517501 (address) through its authorized
signatory MANJUNATH KULAKARNI, S/o CHITHAMBARA RAO, Branch/Office Head
Name, Fathers’ Name & Address (hereinafter referred to as “BANK” (Which impression shall
unless repugnant to the context shall include its successors, attorneys & assigns) of the second
part:
Whereas the Bank had requested the Security Agency to provide 3 (number) Security Guards
(Strike out whichever is not applicable) in a shift of 8 hours duty to act as a security for the
safety of the Bank premises as well as the property of on-site ATM/Cash Deposit Machine
to watch the movement of persons around the building and those who are coming for operation
of ATM/CDM provided in the premises, to alert any untoward incidents in the Bank/ATM/CDM
endangering the security aspects and to act swiftly and swiftly and suitably in such
contingencies of untoward incidents and the security agency has agreed for the same, it is agreed
by both the Security Agency and the Bank as follows:
1. The Security Agency shall provide 3(number) Security Guards (Strike out whichever is
not applicable) in a shift of 8 hours duty each to perform the above duties at the Bank on
all the days. Duty shift timings are below:

Shift Timings Type of Guard Days

First 0600 hrs to 1400 hrs Security Guard All the days
(Strike out
whichever in not
 applicable)
Second 1400 hrs to 2200hrs Security Guard All the days
(Strike out
whichever in not
applicable)
Third 2200 hrs to 1800 hrs Security Guard All the days
(Strike out
whichever in not
applicable)
General (Especially 1000 hrs to 1800 hrs Security Guard All the days
for on-site ATM) (Delete this line if
not permitted)

2. Security agency shall deploy their Security Guards for Bank as well as on-site ATM
as per shift timings strictly.
3. The Security agency also agrees that the Security Guards engaged by them will have
previous experience of minimum two years in security filed.
4. The party of the first part also agrees that the minimum educational qualification of the
Security Guard will not be below 10 th standard, height will not be less than 165cms
and not having obesity & not wearing goggles (other than reading glass).
5. The guard provided by the security agency will be medically fit, mentally sound and
possess good physique and not suffering from any contagious/major diseases.
6. The Security Guards provided by the security agency shall wear proper and
prescribed uniform including cap, belt, shoe, photo identity card, name tab, baton,
whistle and torch (during night) etc. and the same shall be provided by the security
agency. The guard shall not be under the influence of any intoxicating drink or drug
during the course of his duty and shall not take any alcohol or intoxicants or smoke during
duty hours.
7. Security agency shall ensure that the guard not to accept any eatables, tea, coffee, tobacco
etc. from strangers.
8. The armed guard/security guard engaged will be conversant with the use of fire
extinguishers and shall take necessary action in case of fire by activation of alarm
system/other emergent steps.
9. Security Guards shall attend to the following works at ATM:
 a) Security of the on-site ATM.
b) Switching on/ off the lights and Air Conditioners and ensuring that the ATM
room is kept clean.
c) In case of any break down of ATM/Air Conditioner to inform the manager or
officers of the branch
d) Regulating the parking of vehicles in front of the ATM.
e) Distribution of pamphlets on banking business activities
10. The Security Guards shall also accompany the Bank’s staff for transfer of funds for
remittance or withdrawal, if any, from other banks/ Branches/ Institutions.
11. In consideration of services of 3 number Security Guards provided by the Security
Agency the Bank shall pay a fixed sum of Rs. 44214/- (Rupees Forty Four Thousands
Two Hundred and Fourteen only) including service tax or charge. This amount will be
paid directly to the Security Agency. The above-mentioned rates are tenable for
16.08.2020 – 15.11.2020
12. Security agency shall pay wages to the persons engaged by them as Security Guards as per
the provisions of Minimum Wages Act applicable to the respective State Wages.
13. Security agency confirms that it is an entity registered under the EPF and ESI Act and is
providing said benefits to persons working as their Security Guards.
14. The Security agency and Security Guards engaged are opened savings account with
any one of KVB branches within 7 days of engagement. Security Agency is credited
appropriate wages to the respective accounts of the Security Guards in every month (not
by cash).
15. The Security Agency shall furnish copy of ECR (Electronic challan Return) of EPF
and ESI Contribution of respective Security Guard in every month, combined challan is
not considered as proof of EPF and ESI Contribution.
16. If Security Agency not remitted full amount (employer share) to EPF and ESI authority in
the name of respective Security Guards, then the security agency is eligible whatever
amount remitted to EPF and ESI authority. i.e. the amount mentioned in ECR
(Electronic challan Return) of EPF and ESI only eligible.
17. The Security Agency shall furnish a certificate every month to the Bank certifying for
having complied with the requirement of Minimum Wages Act, EPF and ESI
 contributions payment etc. mentioning in the certificate the particulars of quantum of the
payment made to individual Guards. In the said certificate the concerned Security Guard
should endorse and sign that they have received the payments/benefits mentioned in
the certificate.
18. The Security agency is fully responsible for complying with the requirements under
various Labour Laws including the Minimum Wages Act applicable to the Place.
19. The Security Agency will be responsible for payment of salary/ wages including any
allowances called by whatever name to the Security Guards provided to the Bank and the
Bank shall not be liable or made liable for any non / short payments to the Security
Guards
20. Security Agency shall only be responsible for and shall pay any compensation to its
employees under any law for the time being in force for any liabilities arising there under.
21. If Security Guard is posted, the security agency should hand over the following to the
Bank:
(a) Copy of appointment letter from the agency mentioning personal details, employee
number, identification marks and particulars of identity card etc. of the Security
Guard.
22. The Security agency shall arrange to send a reliever wherever the regular guards are
absent or on leave.
23. Security Agency will periodically change the guards provided to the Bank at least
once in six months.
24. The security agency must carry out the checking of guards wherever deployed in the
Bank for alertness on regular basis minimum twice in a week.
25. The security agency shall provide a “Guard checking Register” with the guard
deployed at Bank / ATM for the purpose of noting the checking details carried out
by both the security agency and the Bank.
26. The security agency shall furnish the names and permanent & local addresses of the
guards being posted at Bank premises from time to time along with their latest
photographs, thumb impression & signatures.
27. He security agency hereby confirms that the employees / representatives discharging their
obligations as per this agreement shall not be construed as the employees of the Bank and
 shall at all times be the employee of the Security Agency only. This will be specifically
stated in the order to be issued by the Agency to the Security Guards and the copy of the
order signed by the concerned Guards shall be produced to the Bank.
28. He Security agency will change the guard immediately on instructions from the Bank if
the performance of that particular guard is not acceptable or found physically / medical
unfit and decision of the Bank of final and binding on the First party in this regard.
29. The Security Agency shall on demand make good the loss caused to the Bank arising from
any fraud committed by its employees or negligence or inefficiency of the Security
Agency or its representatives.
30. The Security Agency and the guard engaged by them shall not act in any way detrimental
to the interest of the Bank.
31. If the Security Guard is found sleeping or not present at respective place or under
the influence of alcohol while on duty by nay of our Bank officials, the security
agency will not be eligible for the emoluments for two shifts of one Security Guard
and also liable to change the Security Guard.
32. If the Security Guard is found not wearing prescribed Uniform (cap, belt, shoe, photo
identity card, name tab, baton, whistle and torch (during night) etc.) while on duty by any
of our Bank officials, the security agency will be held responsible and liable for deduction
of Rs.100/- per incident under fine on monthly remuneration of the Individual guard.
33. Security Guard performs their duty at branch or ATM Entrance only. Sitting inside
branch/ATM is strictly prohibited.
34. This agreement comes into effect from 16.08.2020 – 15.11.2020
35. The Bank and the Security Agency hereby mutually agree that in the event of the services
not being satisfactory or on any other ground this agreement can be terminated by either
party and the same may be done by giving one month’s notice in writing to the other party
and the agreement will stand terminated at the expiry of the notice period, provided that
the Security Agency has complied with all obligations to the bank in connection with and
under the agreement.
IN WITNESS WHEREOF THE PARTIES HERETO HAVE SIGNED THIS AGREEMENT ON
THE DATE, MONTH AND YEAR FIRST WRITTEN ABOVE IN THE PRESENCE OF THE
FOLLOWING
WITNESSES:

Witness:-

1.
(Name, Father’s name & address) Signature and seal of First Party
(Security Agency)

2.
(Name, Father’s name & address) Signature and seal of Second Party
(Bank)