Gratuity Policy

SCOPE:
This policy has been prepared to established Gratuity for Karachi based all confirmed
permanent management employees.

PURPOSE:
Hi-Tech Foods Group considers its employees as human asset and desires to retain them till
the maximum acceptable age limit for work, the Company also understands that employee
separation due to age or other reasons is a natural phenomenon.

ELIGIBILITY:
All Karachi based permanent management employees, who have completed minimum one-
year continuous service from their Date of Joining with the Company.

ENTITLEMENT:
Gratuity will be provided to an employee upon separation only. The separation includes
Resignation, Retirement, Laid off and Death or Disablement of Employee. However, in case of
dismissal or misconduct, gratuity would no longer be admissible.

Furthermore, in the case of death or disablement, there is no minimum eligibility period.

Disablement means the loss of the earning capacity of an employee. It is of two types;
temporary disablement & permanent disablement.

GRATUITY CALCULATION:
Gratuity = Last Drawn Monthly Gross Salary x No’s of Years and months completed at a time
of Separation.

After completing one year If an employee resigned during a month and spent less than 15 days
will not be considered for full month gratuity. If spend 15 days will be considered half month.

 Gratuity Policy will be effective from 01-August-2021.

 Income Tax rules on gratuity will be applicable.
 The policies, regulations and procedures being mentioned herein are subject to change
without prior notice, if necessary.
 This policy is to be reviewed once a year. The Management reserves the full right to make
exceptions, review, change rules and other requirements as it may deem fit from time to
time.