2020 Benefits Study Results by Deloitte India - Final PDF

2020 Benefits Survey by Deloitte India
Detailed Report
December, 2020
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Private and Confidential | Not for Distribution | © 2020 Deloitte Touche Tohmatsu India LLP. All rights reserved | 2020 Benefits Study by Deloitte India
Content of this Document
# Page # Page
1 About the Benefits Survey 3 10 Lifestyle & Wellness
2 Our Observations and Insights of Benefits in India 8 10.1 Car Policy 126
3 Impact of CoVID-19 on Benefits 20 10.2 Housing Assistance 138
4 Overview of the Code of Wages 28 10.3 Club Membership 144
5 Participant Demographic Analysis 38
10.4 Hardship & Site Allowance 147
Detailed Benefits Analysis
10.5 Health & Wellness 156
6 Paid Time Off
11 Admin and Misc. Benefits
6.1 Leave & Holidays 44
6.2 Working Hours 59 11.1 Meal Benefit 161
7 Retirement 65 11.2 Higher Education 165

8 Insurance 11.3 Loans 170
8.1 Hospitalization Insurance 79 11.4 Severance Benefits 177
8.2 Accident & Life Insurance 94
11.5 Relocation Benefits 182
8.3 Post Retiral Medical Benefits 101
11.6 Communication Policy 188
9 Pay Related Policies
11.7 Employee Referral 192
9.1 Sales Incentive 106
9.2 Variable Pay 116 12 Differentiated Practices 194
9.3 Sign on Bonus & Retention 123 13 List of Participants 197
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About the Benefits Survey
3
Foreword
Dear Reader,
We are pleased to share the 2020 Benefit Study by Deloitte India with you.
In our endeavor to enable data based decision making for you, this report provide external market inputs for critical decisions
that your organization undertakes in the Benefits space of Human Capital domain. We have therefore crafted an outcome
oriented report that brings together deep insights from our research and our experience.
In this report, we have outlined our approach for this study, top benefit trends, impact of CoVID-19 on benefits design across
industries, key insights on “Code of Wages” and detailed benefits analysis for each policy.
With the current volatility and dynamism in the market conditions which has stimulated organizations to re-look at the benefits
proposition for their employees, we hope that this reports adds value to your organization and decision making.
We would sincerely want to thank you for contributing your valuable time and organizational data that led to this research. We
hope you find it to be useful.
If you have any questions with respect to the information within this response, please do not hesitate to contact us. We look
forward to working with you.
Anandorup Ghose Neelesh Gupta Meghesh Nandi

Partner Associate Director Manager
anandorup@deloitte.com neelgupta@deloitte.com mnandi@deloitte.com
4
Study Methodology: Approach to Benchmarking
Questionnaire Design
Data Collection
Validation
Analysis
• Identification of key Reporting*
Policies across multiple • Reaching out to key
Industries clients for participation • Reviewing the data
collected from each client • Consolidation of data
• Identifying all possible • Weekly reminders for received across all clients • Generating Report on multiple
elements for each policy participation in the • Reaching out to clients to anchors such as:
Benefits Study identify data gaps • Uploading consolidated 1. Key Benefit Trends
• Designing questions for data in our Benefits 2. Impact of CoVID-19 on
each element across all • Gather data from Analysis tool
• Receiving updated Benefits
policies participants across all responses where clients 3. Detailed analysis and
industries missed out on data • Identification of key benchmarks for each benefit
• Finalizing consolidated Trends policy
questionnaire with
CoVID-19 change
assessment • Generating Market • Sharing final report with all
benchmarks for each participating organizations
policies using Deloitte’s
Benefits Review and
Analysis Tool
*This report provides detailed analysis for white collared employees only.
5
Glossary – Levels of Management
Professional with degree from an educational institutions with up to a year of experience working under instructions and supervision of
Entry Level senior colleagues. Typically individual contributors
Provide day to day supervision and guidance to the team and may be module leads trouble shooting issues of some difficulty
Junior Management (especially for the entry level staff). Can also be Senior Individual contributors
Middle Management First Line Managers & Managers of Managers. Manage activities of a department and set up policy and procedures. They may lead
projects or programs which influence the achievement of a department wide objective
Senior Management Play a Key role in short Term and Long Term decision making of a major functional area or a business unit and direct and coordinate
the activities within them. Establish policy and drive the achievement of the Unit or Function Goal
CEO and Direct reports (n-1)

Top Management
6
Glossary – Compensation Terminologies
Includes Basic Salary & Dearness Allowance

Basic Salary
Includes Basic Salary & all Cash Allowances including but not limited to HRA, LTA, Books & Periodicals, Children Education, Uniform
Guaranteed Cash Allowance, Professional Development, Hardship Allowance, Superannuation Allowance etc.
Total Fixed Pay Includes Guaranteed Cash & All retirement benefits such as Provident Fund, Gratuity, Superannuation & NPS
(TFP)
Cost to Company Includes Total Fixed Pay, Short Term Incentives (Performance Bonus, Sales incentives, Project Incentive Bonus) & Long Term
Incentives (Stock options, Performance Shares, Restricted Stock, Phantom Stock, Deferred cash & Other LTI values)
(CTC)
7
Our Observations and
Insights on Benefits in
India
8
Top Trends Analysis
Every major disruption in history has shown us an fundamental shift in employee value proposition and organizations have matured in
effective utilization of cost. CoVID-19 has emerged as the “black swan event” of the century, with significant economic impact both
globally and in India.
After every such event, the benefits landscape have evolved such as mobilization of gender diversity in the work force during the world
war leading to creation of New category of employee benefits in organisations. Our analysis has shown post CoVID-19 pandemic, the
below are the top 5 policies which organizations have focused on more amongst others:
Top 5 impacted policies due to CoVID-19 (As per participants)

33%
31%
21%
18% 17%
Leave & Holidays Hospitalization Insurance Health & Wellness Working Hours Variable Pay
This section highlights key trends and insights since CoVID-19 across Industries
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March 23rd 2020
India Goes into lockdown due to
increasing CoVID Cases
Work From Home

Cost Conservation/Substitution
With lockdown enforced and increasing cases,
With increasing focus on cash flow and due to economic Corporates accepted the long term implications of
slowdown, organizations explored options to reduce cost CoVID and hence the reality of workforce was to work
stress. This impact was also reflected in the benefits from home. Companies were required to adopt work
landscape from home policies and infrastructure requirements to
ensure continuity of business
4 trends that
experienced tectonic
shifts
Insurance Employee Wellness/Engagement
With economy opening up and cases increasing day-by-day, With Work from home came challenges of managing
this resulted in increased concern towards employee health Work-Life balance, the line between work and personal
& safety, hence, introducing multiple insurance options to space became critical, organizations worked towards
protect employees against health and financial uncertainty changing and updating benefits to manage employee
stress and anxieties while also trying to keep the
workforce engaged
Introduction of enhanced
benefits value proposition…
Today 10
Cost Optimization
With India’s GDP growth projections already declining and COVID-19 acting
as a strong catalyst, organizations are saving cost for their firms by
optimizing benefits by rationalizing leave policy by reducing carry forward of
earned leave, and capping of benefits.
Leaves and Holidays

• To reduce leave balance, organizations are providing mandatory leaves for employee
Percentage of Companies which have
revised / enhanced their existing wellbeing (mandatory leaves prevalence has increased by 45%)
Leave policy
• Organizations are putting a limit on leave carry forward and maximum no. of days of
accumulation of leaves (median – 45 days per annum )
33%
• Almost 60% of the organizations are now using 30 days as divisor for sick leaves as
oppose to 22 days for calculating leave encashment ( reducing leave liability )
• During CoVID-19 Pandemic, priority for most organizations was to conserve cash and
manage cash flow and can be considered as a reason why 33% of the organizations
changed or updated their Leave and Holiday policy
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Percentage of
Companies that
have shifted from
exempt to RPFC
Fund
Retirals (PF/Gratuity/Superannuation)
• We have observed, a reduction in the salary and attrition rate used for actuarial valuation reducing the
actuarial liability of gratuity
• Due to pay cuts being introduced, some organisations have considered to deduct PF contribution as per
compliance rather than on entire basic amount, thereby minimizing the impact on take home salary 60%
Short Term Incentives

• This year observed reduced budget utilization on Variable Pay, i.e. 80% - 90% target payout
• We have observed high mode of gate openers (safeguards) being invoked thereby reducing variable pay
quantum
• 30% organizations have increased linkage between business performance and individual performance
Other Initiatives
• Transport: Transport Facility has been reduced across levels of management as most employees are working from home
• City Compensatory Allowance: Organizations have reduced the entitlement of city compensatory allowance by 10%-35% for all three
tiers
• Higher Education Support: Nearly 68% of the organisations have capped the payout on the Total course fee. The capping limit ranges
from INR 50,000 to INR 3,00,000. While prevalence of the benefits (increased by 35%)
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Work From Home Prevalence of
Organisations with
formalized WFH
Policy
77%
Prevalence
• The immediate need for most organisation was to create / develop a

comprehensive Work From Home Policy to enable and engage employees to work
from Home which reflects in the increase in prevalence ( increase by 15 % )
• Other organisation have maintained an adhoc policy to cope with employee safety
during CoVID times.
Percentage of
Companies which The Covid Impact
have revised /
enhanced their
existing WFH policy Of the companies which implemented WFH policy
majority have either improved or are in the process of
enhancing the benefit since the last 6 months.
70%
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Work From Home
Benefit Entitlement Prevalence
Home Infrastructure (tables / chairs) –

Median INR 10,000 (One time) 15% of Organisations
Reimbursement Model
Median INR 900 – 1,250 (Grade Wise

Home Wi-Fi / Broadband coverage 21% of Organisations
Entitlement)
Furnishing Policy – Company owned Median INR 10,000 – 45,000 ( Grade

5% of Organisations
Assets provided to employees Wise Entitlements )
WFH Allowance (To meet the additional

3% of Organisation (proposal stage for
costs while working from home ) such as Ranging from INR 1,500 – 10,000 per
most organisations as policy is to be
Electricity charges, House Help and other month
implemented)
misc. costs
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Work From Home
WFH Enablement
• More Employees are being provided Laptops by their organisation to enable WFH
• 48% of organisation extended Laptops to lower grades

Laptop
• 58% organizations supported employees without laptop with delivery of Desktops Prevalence
at 75%
Other Impacts
• Reduction in utilization of Overtime policy as majority of employees are Working from home
• Companies are contemplating on creating compensation packages which would be linked to area of residence for
Employees
• Higher Prevalence / availment of Education Benefits as employees opt to invest in them selves during WFH
(Utilization is observed to have increased 15 – 20 % across all levels )
• Increased prevalence of Digital Meal Vouchers in the market as most canteen remain shut with reduced workforce
Meal Voucher onsite
prevalence at 69%
15
Employee Wellness / Engagement
Increased spend on health
15% and wellness initiatives at an

aggregate level
Digital Engagement of the Workforce
• 42% of Organisation have tied up with health / wellness aggregator platforms

allowing for virtual diagnosis session (in house/ 24X7 virtual engagement with
doctors)
• New initiatives such as conducting Manager sensitivity trainings to manage teams

virtually as per the defined guidelines
Retirals (Gratitity, NPS)
• Reduction in the vesting period for the Gratuity payout to motivate employees, as
well including fixed term employees
• Increase in organisations conducting financial wellbeing sessions to spread

awareness of NPS and other retirement tools ( increase by 28% )
62% of organisations are • Organisation which had a fixed minimum contribution percentage for NPS (5% /
conducting financial wellness 7.5%) are giving an option to employees to further decrease contribution
session for employees percentage to increase cash in hand while still maintaining NPS contribution
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Employee Loans • Reduction in interest rates which are in

line with market for most types of loan
schemes has reduced employee incentive
• 12% of companies have provided car for corporate loans
loans for lower grade employees
• Increase in prevalence only for personal

• Creation of medical emergency loans for
loans / Salary advance at 0% interest
employees
have increased by 20%
Increase in Employee Communication
• More than 90% organisations have invited motivation speakers for town-halls to address issues on how
to handle and keep heathy in this pandemic situation
• organizations are now conducting webinars almost on a weekly/monthly basis to deal with COVID-19
• 27% of organizations have introduced online initiatives for mental wellbeing and physical wellbeing like
yoga
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Pandemic linked Benefits
• 14% organizations have introduced pandemic allowance for the employees who are required to work
from office / necessary physical presence
• Special reimbursement for PPE Kits, Transport, and CoVID kit was introduced for On-Site employees.
Quantum Reimbursed: 1,500 – 5,000 INR/ Month
Other Initiatives
• Outplacement : Increase in prevalence of outplacement services observed (40%

organizations provide Outplacement service to employees in case of Severance)
• Leave Donations : Introduction of leave donation / leave sacrifice program in 13% of

organisations
• Additional Sick Leaves : Introduction of 14 - 28 days of sick leaves for employees testing
positive for COVID-19
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Insurance Organisations claiming
higher claim ratios due to
Pandemic
35%
Utilization of Hospitalization Insurance
• As organisations have added CoVID claims under insurance schemes, there has been
an increase in claim ratios in medical insurance scheme
• Impact of higher claim ratios may lead to higher premium which organisations may
have to pay on insurance renewal in the next cycle
• Companies’ are looking at alternatives to reduce premium costs while ensuring

adequate protection for employees (e.g. increasing co pay on claims and premiums)
• Corporate annual buffer has increased

Insurance Enhancements & Additional Riders
(increase by 14%)
• Inclusion of Covid Cover in the • CoVID Tests are to be included in the • Inclusion of COVID-19 home
existing list of covered disease policy (prevalence 25%) quarantine coverage
• Increase in parents coverage as

• Increase capping on bed charges • Death by Covid to be covered under
compared to last year ( increase by
under the Covid-19 specific cover life insurance
10%)
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Impact of CoVid-19 on
Benefits
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Impact of CoVID-19 on Benefits in India (1/7)
Total Number of Participating Organizations: 207
About the Section
In this section we have attempted to represent the market response specific to CoVID-19 and what are organizations' perception of its impact on the
Indian Benefits landscape.
Prevalence of change in Policy due to COVID-19
47%
44% 44%
40%
30% 29%
27%
23%
21%
18%
14%
11% 11%
10% 9%
9% 9% 8%
7% 7%
6%
3% 3% 4%
2%
Retirement Insurance Paid Time Off Pay Related Lifestyle and Wellness Admin and Misc. Benefits
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The below table represents participants inputs in regards to the timeline by which they intend to make changes in regards to the respective benefits policy
due to the impact of CoVID – 19. Please note 0-3 months includes organizations which have already made changes to a specific benefit
Prevalence of timeline Prevalence of timeline

within which this policy 0-3 months 4- 6 months > 6 months within which this policy 0-3 months 4- 6 months > 6 months
changed changed
Provident Fund 30% 10% 60% Sign on Bonus & Retention 29% 10% 62%
Gratuity 20% 13% 67% Car Policy 27% 14% 59%
Housing Assistance 21% 14% 64%

Superannuation 18% 18% 64%
Club Membership 38% 5% 57%

Leave & Holidays 28% 15% 56%
Working Hours 35% 12% 53%
National Pension Scheme 23% 15% 62%
Hardship & Site Allowance 33% 9% 58%
Hospitalization Insurance 45% 1% 54%
Flexible Benefits 26% 11% 63%
Accident & Life Insurance 37% 7% 56%
Health & Wellness 41% 6% 53%
Post Retiral Medical Benefits 22% 22% 56%
Meal Benefit 35% 3% 61%
Higher Education 29% 14% 57%
Variable Pay 24% 16% 60%

Loans 31% 14% 54%
Sales Incentive 23% 21% 56% Severance Benefits 35% 10% 55%
Communication Policy 35% 9% 56% Relocation Benefits 24% 17% 59%
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Policy COVID - 19 Impact

• Organizations were observed to have opted for the government aided relief of reduced PF contribution from 12% to 10% thereby increasing
the cash in hand for employees.
Provident Fund
• Further it was observed that the above prevalence was higher in organizations which did pay cuts / salary rationalization / salary freeze
Gratuity • Reduction in the vesting period was observed for the Gratuity payout to motivate employees, as well as including fixed term employees
Superannuation • Organizations opted for Option to cash out on superannuation benefit for employees to increase cash in hand
• Reduced contribution percentage for NPS giving option to employees to increase cash in hand while still maintaining NPS contribution
National Pension Scheme • Allowing employees to opt out of the scheme in the middle of the year
• Increasing trend of transfers from Superannuation to NPS due ease of administration and reduce liablity
• 40% organizations introduced CoVID Cover in the existing list of covered disease
• CoVID test was introduced along with the inclusion of COVID cover
• Organizations enhanced sum insured coverage owing to the spiraling medical costs
Medical Insurance
• 22% organizations increased capping on bed charges under the Covid-19 cover
• 43% organizations introduced home quarantine coverage/ benefits
• 33% organizations increased voluntary top up for employees
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• Death by Covid is covered under life insurance.
Accidental Insurance + Life

• Increase in sum assured for insurance cover
Insurance
• Spouse Cover for life insurance
• Reduction in coverage provided by the benefit
Post Retiral Medical Benefit • Grandfathering of benefits due to CoVID impact on finance
• High actuarial liability focus on reducing costs by grandfathering / reducing benefit
• During the COVID-19 pandemic, 30% of the organizations changed their pay mix, increasing pay at risk
Variable Pay among the top policies to change due to CoVID impact:
Short Term Incentives
• Increased weightage on Company performance
• Reduction in payout frequency
• Increase in pay at risk for top management
Higher Education • 23% Organizations introduced certified online courses for employees
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• Few organizations introduced car loans for lower grades

Loans
• Organizations introduced no interest soft loans for employees
• ESOPs was added by few organizations as part of severance package

Severance Policy
• Organizations increased severance package for roles identified as redundant
• 28% of the organizations introduced new broadband facility and internet reimbursements
Communication Policy • 48% organizations extended Laptop facility to lower grades
• 58% organizations supported employees without laptop with delivery of Desktops
• Few Organizations discontinued this benefit due to high cost and reduction in utilization
Club Membership
• Some organizations are planning replace this benefit with soft furnishings
• Due to COVID-19, most organizations are planning to provide flexible working hours and formal virtual guidelines for managers
• To optimize cost and reduction in infrastructure space organizations identified permanent roles which can operate on flexible work hours
Working Hours
from home
• Organizations have reduced work hours per week, also introduced fortnightly blocked leave for employees
• Special reimbursement for PPE Kits, Transport, and CoVID kit was introduced for On-Site employees. Quantum Reimbursed: 1,500 – 5,000
Hardship and Site Allowance
INR/ Month
25
• Organizations have launched flexible benefits – namely, internet broadband reimbursement and hard furnishing allowance for their
Flexible Benefits
employees to support working from home
• Due to COVID-19, organizations have increased their focus on employee wellbeing and introduced employee assistance programs for
Mental Health, Physical Health check up and CoVID testing facilitation
• Few organizations have extended health and wellness allowance for employees to buy home wellness equipment (also includes air
purifiers_
Health and Wellness
• 94% of the organizations conducted wellness webinars on a weekly/monthly basis to support employee mental health to deal with CoVID
• Organizations invited wellness motivation speakers to online webinars to help employees on the subject of managing work and personal
life and on how to keep heathy in the pandemic situation
• 32% organizations tied up with in-house 24*7 online doctor for their employees assistance
• Some Organizations introduced 15 - 28 days of sick leaves for employees testing positive for COVID-19
• Organizations introduced mandatory leaves to ensure employee wellbeing
Leave and Holidays
• Few Organizations introduced and are planning to introduce Leave Donation and bank policy for employees to support each in situations
where they require additional leave
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Percentage of organization which indicate Prevalence

Organization which Organization which
initiated / implemented initiated / implemented
changes Yes - Already No - About to No plans as
changes Yes - Already No - About to No plans as
Implemented Implement yet
Implemented Implement yet
Sign on Bonus & Retention 20% 0% 80%

Provident Fund 47% 0% 53%
Car Policy 13% 9% 78%
Gratuity 19% 5% 76%
Housing Assistance 22% 0% 78%
Superannuation 40% 5% 55%
Club Membership 17% 0% 83%
Leave & Holidays 59% 9% 33%
Working Hours 54% 5% 41%
National Pension Scheme 33% 0% 67%
Hardship & Site Allowance 30% 3% 67%
Hospitalization Insurance 71% 6% 23%
Flexible Benefits 25% 8% 67%
Health & Wellness 61% 17% 22%
Post Retiral Medical Benefits 25% 0% 75%
Meal Benefit 30% 4% 67%

Higher Education 22% 0% 78%
Variable Pay 46% 15% 38% Loans 30% 4% 67%
Sales Incentive 39% 16% 45% Severance Benefits 31% 3% 66%
Communication Policy 58% 0% 42% Relocation Benefits 36% 0% 64%
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Overview of the Code on
Wages
28
Labour Codes- Amalgamation of Labour Laws
Code on Wages, 2019 Code on Occupational Code on Industrial Code on Social Security
Safety, Health and Relations
Working Conditions
Subsumes four legislations Amalgamates 13 labour laws Consolidates three Integrates nine statutes in
relating to wage rate, time of relating to safety and health enactments relating to the social security space
payment and bonus standards Industrial relations
Received presidential assent Received presidential assent in Received presidential assent Received presidential assent
in August 2019, awaiting September 2020, awaiting in September 2020, awaiting in September 2020, awaiting
notification of effective date notification of effective date notification of effective date notification of effective date
Disclaimer : Please note Deloitte does not practice law nor provide Legal advice or any other legal services.
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The Code on Wages, 2019 – Legislations Subsumed
The Payment of Wages Act, The Minimum Wages Act, The Payment of Bonus The Equal Remuneration
1936 1948 Act, 1965 Act, 1976
To ensure payment of wages to To enable fixing of minimum rates of To provide for payment of bonus to To mandate equal remuneration and to
employees are disbursed on time and no wages in certain employments persons employed in certain prevent gender discrimination in
undue deductions are made establishments on the basis of profits employment matters
or production or productivity
30
The Code on Wages, 2019 - Key Definitions
Means a person who employs whether directly or through any person or on his behalf or on behalf of any person, one or more employees
in his establishment, and includes occupier and manager in case of a factory. In case of any other establishment, the person who has
Employer ultimate control over the affairs of the establishment, a manager or managing director who has been entrusted with the affairs. Also
includes a Contractor and Legal Representative of the deceased employer
Any person other than an apprentice employed on wages by the establishment to do any skilled, semi-skilled, unskilled, manual,
operational, supervisory, managerial, administrative, technical or clerical work for hire or reward, whether the terms of employment are
Employee
express or implied and also includes a person declared to be an employee by the appropriate government, does not include any member
of the Armed Forces
Establishment Means any place where any industry, trade, business, manufacture or occupation is carried on and includes Government establishment
Any person other than an apprentice employed in any industry to do any manual, unskilled, skilled, technical, operational clerical or
Worker supervisory work for hire or reward whether the terms of employees be express or implied. Also includes working journalists and sales
promotion employees
Means a person who undertakes to produce a given result for the establishment, other than a mere supply of goods or articles of
Contractor manufacture to such establishment, through contract labour or supplies contract labour for any work of the establishment as mere
human resource and includes a sub-contractor
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The Code on Wages, 2019 - Objectives
Amalgamate, Simplify and Rationalize the provisions of the subsumed legislations
Applies to all establishments, employees and employers as defined unless specifically exempt in the code
Spread over 9 chapters with 69 sections – as against 115 sections of the earlier four legislations
Definitions provided in Chapter I – applicable across the code
Chapters II to IV covers Minimum Wage, Payment of Wages and Payment of Bonus Provisions of Equal Remuneration are contained in four sections of the first
chapter
Specific provisions for Payment of Dues, Claim and Audit, Inspector cum Facilitator, Offences and Penalties, Miscellaneous provisions etc.
32
The Code on Wages, 2019 - Overview
Under the subsumed legislations /

Particulars Under the Codes (way forward)
extant provisions
Applicability of Minimum Wages / Overtime Only to Scheduled employments specified All employees for whom minimum rate of wages has been
Wages prescribed
Minimum wage limits More than 1000 minimum wages prescribed, based Applicable to wider category of employees for whom the
on nature of employment Government notifies minimum wages - unskilled, semi-
skilled, skilled, highly skilled etc – to be based on skill sets,
geography and arduousness of work
National Floor Wages for Minimum Wage No such concept under the statute Floor wage to be notified by Central Government - minimum
wages cannot fall below the floor rate
Applicability of provisions relating to Payment of Only to employees with wages NOT exceeding INR No specified threshold, applies to all employees
Wages 24,000 p.m.
Wage threshold for eligibility of statutory bonus INR 21,000 p.m. Wage limit to be notified by appropriate government
Wages for calculation of minimum bonus INR 7,000 p.m. Amount to be notified
Definition of wages Varied definitions under the individual statutes – Uniform definition across the Codes – specific exception /
covers few components exclusion for certain provisions
Employer Narrower definition intending to cover direct Contractor included in the definition as an employer
employment
33
The Code on Wages, 2019 – Key Provisions (1/2)
Draft Code on Wages (Central) Rules, 2020
Manner of calculation of minimum Norms for fixation of minimum

Time Intervals for revision of DA
wages wage rate
• Broadly, 6 criterion have been prescribed • Central Government to divide the concerned • The rules specify COLA and cash value of
geographical area into 3 viz. metropolitan, non- concessions to be computed once before April 01
• Standard working class family to comprise of 4
metropolitan and rural area and October 01 every year
members equivalent to 3 adult consumption units.
• Central Government to also categorise employee • Would impact DA payable to the employees
• Yardsticks for food, clothing, shelter specified
occupations into 4 viz. unskilled, semi-skilled,
• Expenses on utility, healthcare, education, skilled and highly skilled.
recreation etc. factored
• Occupations specified in Schedule E to the rules,
with a provision for modification/ addition/
deletion therein.
Number of hours of work Rest Day Recoveries from Wages
• Normal working day to comprise of 8 hours of • Employee to be allowed a day of rest every week • Where deductions from wages exceed 50% -
work and an aggregate rest period of 1 hour excess to be carried forward and recovered from
• Preferred rest day to be Sunday – but employer
succeeding wages of the wage period
• Work day inclusive of rest intervals not to spread can fix any other day as a weekly rest day
over more than 12 hours on any day • For imposition of fines, Deputy Chief Labour
• Substituted rest day if employee works on
Commissioner (Central) shall be the authority
stipulated day of rest
• Employee to be given an opportunity to offer an
• For working on a rest day employee to be paid at
explanation – for recoveries relating to damages
overtime rates and for substituted rest day at
or loss
normal rate
34
The Code on Wages, 2019 – Key Provisions (2/2)
Draft Code on Wages (Central) Rules, 2020
Payment of Dues and Claims Forms, registers and wage slips Other Provisions
• In death cases, dues to be paid to the person • Rules permit filing of forms, maintenance of • Inspection scheme under the code to be
nominated or to be deposited with the specified registers and issuance of wage slips electronically formulated by the Chief Labour Commissioner
authority (being deputy chief labour commissioner (Central)
• Fines/ deductions and realisations thereof to be
(central)) within 3 months/ 6 months
recorded in a register prescribed in Form I
• Rules prescribe a maximum timeframe of seven
• Form for composition of offense can be filed in a
years for disbursement of dues
prescribed Form VI
• Possible to file a combined application by
• Need for modification to systems / technological
employees for claiming dues
updates to ensure compliance
35
The Code on Wages, 2019 – Ambiguities/Compliance Challenges
Wages interpretation and calculation where salary

Timelines for keeping employee records, registers and 06 01
fluctuates monthly
initiating inquiry
Employee Wages
records Definition
05 02
Whether different State governments would Adherence to wage settlement timelines for
prescribe different limits for bonus calculation resigned/ removed employees
and eligibility? Short timelines
Fixation of wage
for wages
ceiling for
settlement
bonus
Payments to Deduction from

Contractors wages
Payments to contractors before the due date for payment Capping deductions to 50% of the total wages during a
04 03 wage period – whether Income tax, PF and VPF covered
of wages
in the 50% limit
36
Actions to be Triggered from Employer Standpoint
• Is your current compensation structure /

policy / documentation built considering the
Salary benefits available under the tax laws?
structure • Need to align labour codes with tax laws
• Will the changes in the wage definition have
a hit on the financial statement?
• Will extension of coverage for overtime
impact your P&L?
• What would be the financial impact?
Financial
impact
• What will be the effect of the new wage

Impact on definition on quantum of provident fund
Retirement contributions and gratuity entitlements?
benefits
• How do your current policies, process and

procedures map with the compliance
requirements in the labour codes? Identify
• Have you built in the technology solutions
expected for compliance envisaged in the
gaps /
codes? exposure
37
Participant Demographic
Analysis
38
Participant Demographic Analysis (1/4)
About this Section
This sections covers the organization details, annual expenditure on benefits and factors taken into consideration while determining the benefits to offer. It
also entails important aspects like how are benefits communicated to employees, comparison with the market and tracking the feedback from employee
through a formal/informal mechanism.
Organization Profile
Headcount Distribution Fixed Payroll Cost (Median INR in Lakhs)
76% 300
257
24% 98
White Collar Blue Collar Total Annual Fixed Pay Total Annual Fixed Pay - Total Annual Fixed Pay -
White Collar Blue Collar
39
Organization Details
Median Age and Tenure (White Collar Employees)

Organization Pyramid
60
1% Top Management
34 3% Senior Management
15% Middle Management
34% Junior Management

9
47% Entry Level
Average Age of Average Tenure Retirement Age

the employees in the in the
Organization Organization
Approximate annual spend on benefits as a
Basic as a percentage of Total Fixed Pay percentage of Total Fixed Pay
1% 4%
3%
10%
0-20% 0-10%
29%
21-40% 11-20%
41-60% 53% 21-30%
34%
66% 61-80% 30%+
40
Organization Details
Employer's Perspective on they how think employees Employee's Perspective on their organization's benefit
value the benefits offered competitiveness with respect to market
5%
3%
19%
30%
Above market
Valued to a limited extent
At Market
Highly valued
Below market
70% Unable to assess
73%
% of organizations who obtain formal feedback

Top factors taken into account when
determining benefits to offer
Costs 1
Market Benchmarks 2 34%
Organization objectives/culture 3 Above market
At Market
Approval from higher management 4
66%
Employee feedback 5
Organization performance 6
Utilization trends 7
41
Organization’s strategy with respect to Diversity

Mode of Communication of Benefits Plan
• 81% of the organization have a
formal approach to manage
17%
Gender Diversity Diversity
17% 17% 17% • 7% organization reported higher
15% Female to Male Ratio
11% Affirmative
• 22.5% of the organization have
Action
focused female hiring
(Reservations)
4%
2% • 49% of the organization have
special induction session and
Millennial monthly/quarterly reviews to
Offer letter HR helpdesk Benefits Portal Individual policy Induction Manual Benefits Any other Paper based Engagement / engage millennial workforce
(intranet) document on Benefits Handbook Retention • 3% organization provide special
maintained fitness benefit to keep the
separately for
workforce engaged
each benefit
Other Details:
- 58% of the organizations constantly communicate broad based benefits to the employees via E-Mail/ Newsletters/ Handbooks
- 5.5 % of the organization have an option of mobile application for employee to keep the employees posted on the new benefit policies
42
Benefit Detailed Analysis
43
Leave and Holidays
44
Leave and Holidays (1/14)
About the Policy
The matters related to Holidays and Leaves of employees and workers working in any organisation in India are predominantly governed by the Factories
Act, 1948 and Shops and Establishment Act which are applicable state wise.
As each state may have a different leave entitlement as per the respective acts organisations would have to be cognizant of the different labor law
guidelines while setting up the leaves policy in India.
Leave encashment in India is commonly provided at the time of retrenchment / resignation form the organisation.
Leave Period/ Cycle in Organizations
1%
17%
- Majority of the organizations (82%) follow a Jan-Dec leave calendar
- At the beginning of every calendar the leaves entitlement get replenished
82%
Any Other Details
- 1% of organizations have Jan-Dec cycle for Zones and April-March cycle for Head Office
Jan-Dec Apr-Mar Any Other
45
Leave Entitlement – Provision
100% 100% 100%
80%
69%
53%
40%
37%
27%
24%
10% 7%
Earned/Privilege Maternity Leave Leave without Sick Leave Paternity Leave Casual Leave Mandatory Any Other Bereavement Sabbatical Marriage Leave Examination
Leave Pay Consumption Leave Leave Leave
Leave/Block
Leave
Any Other Details:
- Any Other leave includes leaves given for birthdays, anniversaries, leaves given to workers in plant for working above normal hours
46
Leave Entitlement – Leave Treatment
32% 43% 44% 45% 56% 38% 45% 44% 35% 57%
68%
62% 65%
57% 56% 55% 55% 56%
44% 43%
Earned/Privilege Sick Leave Casual Leave Paternity Leave Marriage Leave Bereavement Leave Examination Leave Leave without Pay Mandatory Any Other Leave
Leave Consumption
Leave/Block Leave
Working Days basis Calendar Days basis
Any Other Details:
- Any other leave included leaves given for birthdays, anniversaries, leaves given to workers in plant for working above normal hours
47
Total Number of Days (Annual Leave Entitlement)

Type of Leave
10th Percentile Median 90th Percentile
Earned/ Privilege Leave 15 21 30
Sick Leave 6 9 14
Casual Leave 6 7 12
Maternity Leave As per Statute
Paternity Leave 3 5 14
Marriage Leave 2 3 5
Bereavement Leave 2 4 5
Examination Leave 2 3 5
Sabbatical 30 180 365
Leave without Pay 19 90 310
Mandatory Consumption
7 10 15
Leave/Block Leave
48
Leave Entitlement – Leave Provision
1% 1%
3% 4% 8%
8% 1%
5%
16% 2%
21%
37% 18%
6%
23%
59% 59%
29%
Earned/Privilege Leave Sick Leave Casual Leave
Beginning of the leave calendar End of the leave calendar Monthly Quarterly Half-Yearly Any Other
Note : The above table represents when do organisations provide Leaves which are provisioned for that respective leave calendar. Provision indicates when the leaves
would be credited to the employee’s leave balance.
49
No. of leave carry forward allowed annually (no. of days)

Type of Leave
Prevalence 10th Percentile Median 90th Percentile
Earned/ Privilege Leave 93% 5 21 45
Sick Leave 8% 6 10 30
Casual Leave 89% - 7 -
Maximum number of Leave Accumulation allowed (no. of days)

Type of Leave
Earned/ Privilege Leave 28 45 250
Sick Leave 14 45 200
Casual Leave 7 9 12
- We observed organizations to be abandoning the concept of Earned Leave/ Sick Leave/ Casual Leave and combining all of them into a singular
bucket of Annual Leave.
50
Leave Encashment
Encashment Allowed Frequency of Encashment -42% organizations encash annual leave

subject to a minimum of 20 days leave
1% balance
15%
48% -40% of the organizations are giving
64% annual leaves over & above the maximum
83%
90% 90% permitted accumulation in a year i.e
85% Option to encash accumulated leaves in
51% excess of 90 days twice a year
36%
17%
10% 10%
Earned/Privilege Sick Leave Casual Leave
Earned/Privilege Sick Leave Casual Leave
Leave
Leave
End of Service Annually Half Yearly
Yes No
Definition of Salary Divisor used for Leave Valuation

13% 13% 6%
9% 20%
19% 38% 13%
19% 51% 75%

60%
75%
63%
49% 21%
20% 25%
13%
Earned/Privilege Leave Sick Leave Casual Leave Earned/Privilege Leave Sick Leave Casual Leave
Basic Salary Basic Salary Plus Dearness Allowance 22 days 26 days 30 days Actuals days of the month of encashment Any Other
Total Fixed Pay Total Cost to Company
Any Other 51
Other Features
Policy on Annual Leave Advances Leave Conjunction Allowed?

Leave Conjunction Details:
-Annual/Earned Leaves can be taken in
74%
conjunction with :
Maternity/Marriage/Paternity Leave or Sick
Leave
37% -Sick Leave can be taken in conjunction
with Earned Leave
63%
15%
11% Yes No
Upto Half Year's Upto one year's No fixed entitlement;

Entitlement' entitlement Case-by-case basis
Unlimited Sick Leave Paid Volunteering:

Paid Volunteering -Organizations provide 2-3 days in the
calendar year as paid volunteering leave
8%
19%
Earned Leave Utilization:

-20 earned leaves have been availed by
53% of organizations in the last 1 year
81%
92% Sick Leave Utilization:
-6 sick leaves have been availed by 45%
of organizations in the last 1 year
Yes No Yes No
52
Parental Leave and Related Benefits
Is leave extension Paid for Maternity leave? Is Maternity Leave added to existing leaves (conjunction)?
7%
46% 43%
47% 57%
Paid Unpaid Partially Paid/Partially Unpaid

Yes No
Type of Leave it is adjusted with:

27%
Maternity Leave Details:
-2 months of extension is given by 60% of
organizations in case of maternity leave
9%
7%
Annual/Earned Leave Sick Leave Casual Leaves
53
Availability of Child Care Facility Provisions in regard to Crèche/Day care Facility
41%
37%
28%
25%
63% 19%
Tie-ups with day care centers In-house crèche facility Reimbursements for day care Shared crèche facility within
Yes No
arrangements made by the common office premises
employee
Eligibility of Crèche Facility Co-Pay Model for Crèche Facility

Crèche Facility Details:
-20% of organizations are providing
30% crèche or day care facility/benefit up till
28% the average age of 6 years for a child
-Most organizations are following a co-pay

72% model 50:50%
70%
All Employees Female Employees Only Yes No

54
Cost Incurred for day-care/crèche facility (Cost Incurred by Employer -INR)

Particulars
Per Child Per Month 6250 11000 20000
Examination Leave and Sabbatical
Non-Company Sponsored Study Leave Available? Minimum Years of Service Required?
15%
45%
55%
85%
Yes No Details:
Yes No
- 39% of organizations are providing sabbatical leave for health
purpose, study leave, preparation for examination
55
Mandatory Consumption Leave/Block Leave
Is this leave is provided in addition to Earned leave?

Reasons:
10%
Employees given this leave to:
-To maintain work life balance
-For the purpose of maintenance in

factories
90%
-Employees are required to mandatory
consume 1/3rd of Earned leaves per
year
Yes No
Public Holiday
Details: Provision of Floating Holidays Provision for compensating employees for

working on holidays/weekends
-65% of organizations are providing on an
average 10 no. of days of public holidays
38%
-69% of the organizations provide 44%
compensatory off for employees working 56%
on holidays/weekends. 21% of the 63%
organizations compensate by doubling the
wages and rest of the organization gives
1.5 times of the basic salary
Yes No Yes No
56
Compensatory off
Provision of Compensatory Off Minimum number of hours required to be eligible for compensatory off
Eligibility Details:
- 55% of organizations require on an
9%
average of 6 minimum hours to be eligible
28% for compensatory off
72%
91%*
Yes No Yes No
Encashment of Compensatory Off Provision of Carry Forward Carry Forward Details:

-20% of organizations are providing 10 no
7% 17% of days as the maximum limit to carry
forward leave
Time Frame:
-In most organizations compensatory offs
83%** are being consumed within 3 working days
93% (if continuous working for more than 7
days) or 3 months if compensatory off is
Yes No Yes No on account of working on national holiday
* - Compensatory off where governed by statute has 100% prevalence

** - Compensatory off where governed by statues has availment as per regulation (3 days / 3 months, as appropriate) 57
Statutory Provisions
Shops and Establishment Act is a state legislation act and each state has framed its own rules for the Act and within each state, it covers such areas
as the State Government may notify from time-to-time. The table below represents minimum leaves in various states:
Earned Leaves Accumulation limit Casual Leaves Sick Leaves

Leaves
(days in a year) (in days) (days in a year) (days in a year)
Andhra Pradesh 15 60 12 12
Assam 16 30 12 12
Bihar 18 45 12 12
1 day leave for every 20 days
Punjab 30 7 7
worked
Delhi 15 45 12 days casual-cum-sick leave NA
30 days (After every 12 months
J&K 45 14 NA
continuous employment)
Karnataka 18 30 NA 12
Kerala 12 24 12 12
30 days (after 12 months of Not exceeding three months or
Madhya Pradesh 14 NA
continuous service) 90 days
30 days (after 240 days of
Rajasthan 30 NA NA
continuous service)
Tamil Nadu 12 45 12 12
Uttar Pradesh 15 45 10 15
West Bengal 14 24 10 14 days on half pay
58
Working Hours
59
Working Hours (1/5)
No of working days/hours per week
Prevalence of No. of working days per week Prevalence no. of working hours per day-
15% organizations are following 40 hours per week

5 days / week for all 10% organizations are following 45 hours per week
11% 75% organizations are following 48 hours per week
34%
6 days / week for plant
and 5 days for Corp. / Any Other Details:
HO
55% 6 days for all - Few organizations have 5.5 days for Corporate and 6 for
plants
- Few Organizations have 6 working days per week
Flexible Work Arrangements
Prevalence Types of Work Arrangements No. of working days Reduced:

- Working days are reduced by 1-2 days
7% 8% especially in case maternity or for female
9% 17% employees after marriage
27%
8% 6%
16%
13% 6% Adhoc WFH Policy :
- Companies which have responded that they do
7%
not have flexible work arrangement policy have
also mentioned that have adhoc WFH policy
76% 72%
53%
Compressed Work week- A compressed work
77%
schedule allows an employee to work a
traditional 35-40 hour workweek in less than five
Compressed Work Flexi-time Part-time working workdays.
Yes No Case to Case Basis All Employees Specific grades Specific Functions Special Conditions 60
Working Hours (2/5)
Transport Facility
Prevalence* Level Wise Prevalence
Levels of Prevalence of Transport Assistance for normal working

7% Management Coach/Bus Reimbursement Company Cab
Entry Level 27% 11% 22%
50% Junior Management 26% 11% 21%

43%
Middle Management 21% 16% 20%
Senior Management 16% 32% 20%
Yes No Case to case basis Top Management 11% 32% 17%
*Graph representation is for Normal

working hours Restrictions (to which group of employees is this benefit restricted to)
Case to Case Basis Details:

Transport Facility provided on case to case basis provided
by organizations are mostly:
None 86% 88% 90% 91% 94%
-For female employees Female Employees Only
-Employees working in certain shifts
-Employees working in far off plant locations Certain Shifts Only
2% 2%
12% 2% 2%
10% 8% 7% 1%
5%
Entry Level Junior Middle Senior Top

Management Management Management Management
61
Working Hours (3/5)
Overtime
Prevalence Eligibility
80%
29%
40%
71%
15%
5% 5%
2%
Yes No Entry Level Junior Middle Senior Top Any Other

Rate of Overtime Pay* Weekly ceiling on

Levels overtime (Median no. of
Working Day Weekends Public Holidays hours)
1.5 times or double the Compensatory Offs/Double 1.5 times or double the
Entry Level 24
basic pay the basic pay basic pay
1.5 times or double the 1.5 times or double the 1.5 times or double the
Junior Management 24
basic pay basic pay basic pay
1.25 time or double the
Middle Management Double the basic pay Double the basic pay -
basic pay
Senior Management - - - -
Top Management - - - -
*Wherever statutory provisions are eligible, the entitlement is governed by statutes

62
Working Hours (4/5)
Overtime
Meals provided during overtime Transport Facility during overtime
33%
50% 50%
67%
Yes No Yes No
Meal Details: Transport Facility Details:

-Meals are provided post 4 hours of normal office -Transport Facility is provided post 3-4 hours of normal office
time. The meal reimbursement limit is INR 150 per hours. Reimbursement of transport facility is on actuals
day
63
Working Hours (5/5)
The Factories Act 1948 covers the details pertaining to worktime practices. The table below represents a few details from the act:
Scenarios Details*
• The working hours for adults and adolescents (14 to 18 years of age) with a certificate of fitness cannot exceed 9 hours in
a day and 48 hours in a week
• The spread over, including working hours as well as rest intervals, cannot increase 10.5 hours in a day and 54 hours in a
Working Hours week (including over time)
• The daily working hours for a child (adolescent without certificate of fitness) cannot exceed 4.5 hours
•
An employee shall be provided a half an hour break for every 5 hours worked
• For Women and adolescents the act states that no woman shall be required or allowed to work in any factory, industrial
Night Shifts premise or any mine above ground except between the hours of 6 a.m. and 7 p.m.
(working hours extended beyond
midnight) • Under certain conditions Women employees can be engaged during the night shift (which is 8.30 pm to 6.00 am) subject
to provision of adequate security during the course of employment and transportation to and from their residences
• Over time must be paid at the rate of double the ordinary rate of wages. This method of over time calculation applies on
Overtime normal working days, weekly holidays, annual festival holidays, public holidays
However, special permission needs to be taken in order to allow work on public holidays
64
Retirement
65
Retirement (1/13)
About the Policy

A Provident fund is a Government managed Defined Contribution mandatory saving scheme which forms part of social safety net into which workers must
contribute a portion of their salaries and employers must contribute on behalf of their workers
National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed to enable the employees to make optimum
decisions regarding their future through systematic savings during their working life.
Gratuity is given by the employer to his/her employee for the services rendered by him during the period of employment. It is usually paid at the time of
retirement but can be paid earlier, provided certain conditions are met. As per the act, gratuity is paid only to employees who complete 4 years and 240
days or more with the company. Rate of gratuity accumulation is 4.81% of Basic + DA.
Retirement Age
The retirement age across industries ranges from 55 to 65 years with a market median of 60 years
Provident Fund
Other Practices:
Rate of Contribution:
- Employee contribution is paid by the employer
- The rate of employer's contribution ranges from 10% to 13% with a - Employee can limit their contribution to INR 1800 PM
market median of 12%. - Employer’s PF contribution is over and above the salary/CTC, and not
- The rate of employee’s contribution ranges from 10% to 12% with a included as employer’s salary package
market median of 12%.
66
Retirement (2/13)
Provident Fund
Definition of Applicable Salary Restrictions on the Applicable Salary

5%
7% Restricted to Applicable
Basic Salary 8% Salary or INR 15000
17% whichever is lower
Basic+DA Full Applicable Salary
Basic + Special
88% 75% Option Selected by the
Allowance
Employee
Supreme Court Ruling on PF Contribution (February 2019)
PF Management
18%
- 60% of Companies have started contributing higher
PF on higher wages as per Supreme Court ruling on RPFC ( EPFO )
including allowances as part of contributory wages
Exempt Fund
82%
67
Retirement (3/13)
Gratuity
Other Calculations
Formula used for Calculations
3% - Differentiated Divisors instead of 26 -> Companies may use 22 -
30 days
15/26 Days Basic Per Year - Tenure Based Payout

(As per Statute) • 5 years to <15 years - 15/26 days' Basic Salary for every
completed year
Others Calculations • >15 years to < 20 years - 3/4 months' Basic Salary for
97% every year completed
• 20 years and above - 1 month's Basic Salary for every
completed year
Gratuity – Vesting Period
Vesting Period
Any other
- EX Gratia Payments are made by some companies to their

4 years & 240 Days (as
per statute)
employees (Taxable Payout) based on the following timelines :
43% • Number of working days
Any other • Minimum 6 months
57%
• Minimum 2 years
• Minimum 3 years
68
Retirement (4/13)
Gratuity
Placement of Gratuity Gratuity – Restrictions on Payout
1%
38%
INR 20 Lacs (As per Statute)
Part of CTC
46% No Restrictions
Outside CTC 53% Any Other
62%
Gratuity – Definition of Applicable Salary
Applicable Salary
Any other (Applicable Salary)
2%
- Other components such as additional allowances to be considered
- On Gross Salary
As per Statute (Basic + DA)
Any other (Restrictions on Payout)
Any Other - At Top level Gratuity payout is grade specific (can range upto INR 40
lacs)
98% - Limit of INR 25 lacs
69
Retirement (5/13)
Gratuity – Details
Is the scheme Funded by way of a Trust? Is the Fund managed in-house or outsourced to an insurer?
47% 47%
Yes No In - House Outsourced
53% 53%
Gratuity Managed by (if outsourced)
75%
Other Insurance Companies : Aditya Birla, Aviva, Kotak Bank, Birla

Sun Life, SBI and Reliance Nippon Life Insurance
15%
10% 12% Anticipated Service : For 19% of Companies Death-in-service Gratuity
6%
benefit is provided by insurer as on anticipated service.
LIC HDFC Life TATA AIA ICICI Others
70
Retirement (6/13)
Gratuity – Returns & Actuarial Assumptions
Gratuity – Returns Achieved by the Trust / Insurer Gratuity – Actuarial Assumptions
Returns (in %)
Returns (in %)
Actuarial Assumptions 90th
Financial Year 10th Percentile Median
Percentile
90th
10th Percentile Median
Percentile
Salary Escalation Rate 5% 8% 10%
Attrition Rate 5% 10% 22%

FY 2019 6.8% 7.0% 8.0%
Expected Returns on Assets 6% 7% 9%

FY 2018 7.0% 8.0% 8.2%
71
Retirement (7/13)
Superannuation
Is the Superannuation Scheme Active ?

Prevalence
22% No ongoing contributions are paid and it is a

grandfathered scheme
34%
Yes No
Plan is active and Contributions are paid
66%
78%
Superannuation - Eligibility
Category of employees are entitled to the Superannuation

Any Other
40% - Employees can opt for either NPS or Superannuation
36% - Employees who joined before a certain date will be eligible
30% for the superannuation scheme
Superannuation as a Pure Benefit

6%
- 29% of companies provide Superannuation as a pure
benefit over and above CTC
All Employees Specific Grades Specific Functions Any Other
72
Retirement (8/13)
Superannuation – Vesting
Is there a service vesting criterion for receiving Vesting Period for Employees
Superannuation Benefits on resignation?
21% 22% Less than 5 years

30%
Yes No 5 Years
14%
70% More than 5 years
43%
Retirement Only
Superannuation - Utilization
Utilization Open for New Entrants

Levels
- 49% of companies have superannuation open for New
Entrants
Junior Mgmt. 1% 10% 55%
Transfer of Superannuation to NPS
Middle Mgmt. 2% 12% 68%
Senior Mgmt. 3% 29% 73% - 34% of companies allow employees to transfer
Top Mgmt. 15% 33% 81% Superannuation Funds to NPS
73
Retirement (9/13)
Superannuation – Fund Management
Fund Management Fund Managers used when Superannuation is Outsourced
68%
33% Outsourced
In-House Funding
18%
11% 11%
67%
LIC ICICI Prulife Aditya Birla Others
Superannuation – Applicable Salary
Definition of Applicable Salary
Any Other
11%
- 15% of total CTC is to be contributed as Superannuation
Basic Pay Any Other
contribution
- Flat Payment is made as contribution ( Ranging from INR

1 lakh - 2 lakh)
89%
74
Retirement (10/13)
Superannuation – Withdrawal and Cash out
Premature Withdrawal Cash Out Options provided
28%
49%
Yes No Yes No
51%
72%
75
Retirement (11/13)
National Pension Scheme
Is employer contribution to NPS over and above the Fixed Pay of

Prevalence
Employee?
7% Part of Flexible Compensation
33%
Yes No
Pure Benefit over and above
67% Fixed Pay
93%
National Pension Scheme – Eligibility
Category of employees are entitled to the NPS

71%
Any Other
- Based on the employee’s Salary bands

18%
6% - Employees who are not part of the Superannuation
2% 4%
scheme are eligible for the NPS scheme
All Employees Specific Grades Job Related Dependent on Years… Any Other
76
Retirement (12/13)
National Pension Scheme - Details
Rate of Contribution
5%
Min. Rs 500 and Any Other

8% max. 10%
10% of Basic - Fixed at 8.33%
17% - Upto 20% of basic + DA
5-10% of Basic - Multiple options are provided : 2.5% ,5% , 7.5% or 10%
70%
Salary - Multiple options are provided : 5% ,7.5% or 10%
Others
NPS POP Vendor
52% Other POP Vendors:
- Aditya Birla Capital / UTI Asset Mgmnt. Company /

Way2Wealth / Axis / IDBI / SBI
20% 18% Choice of Fund Manager
12% 10%
- 65% of Companies let the employees choose their fund
manager
HDFC ICICI Kotak SHCIL Others
77
Retirement (13/13)
National Pension Scheme - Details
Utilization
Levels
Junior Management 0% 7% 20%
Senior Management 3% 28% 59%
Top Management 10% 45% 62%
78
Hospitalization Insurance
79
Hospitalization Insurance (1/14)
About the Policy
It refers to the insurance coverage that pays for medical and surgical expenses incurred by the insured.
It generally includes your spouse and children. However, some corporate health plans extend coverage to parents as well.
It provides a fixed sum insured amount that covers the cost of hospitalization in the event of an illness or accident. The hospitalization should be for more
than 24 hours.
Types of Employees Covered Minimum service requirement to be eligible

Prevalence for hospitalization insurance cover
92% 1% 2%
5%
None
44%
Yes Post Probation
19%
13%
No
97% Based on
95% Number of Years
Full Time Part Time Probationary Contractual
80
Hospitalization – Insurance
Are white collar employees eligible for ESI benefits Are Employees offered hospitalization insurance in addition
to ESI
25%
45%
Yes No
Yes No
55%
75%
Insurance Brokers 32% Other Insurance Brokers

27%
- Futurisk India - Brokers India Pvt. Ltd.
- Global Insurance Broker - Bajaj Capital Insurance
- KM Dastur Reinsurance - Edelweiss
13% 13% Broker Pvt Ltd - Howden Insurance
9% - Mahindra Insurance Brokers India Pvt Ltd
7%
Brokers Limited - Tata Motors Broker
- Reliance - Vibhuti Insurance
- Zoom Insurance Brokers
Marsh India Prudent Insurance Willis Towers Aditya Birla Anviti Insurance Other - 3 Dimensional Insurance
Insurance Brokers Brokers Watson Insurance Brokers Brokers
81
Third Part Administrators and Detailed Coverage
36% Third Party Administrators
Claim Ratios
Hospitalization
Insurance 10th 90th
12% Median
Percentile Percentile
8% 8% 7% 7% 7% 5% 5% 4%
Percentage 66% 90% 100%
Medi Assist Paramount Health Family Raksha United Vidal Vipul in house Others
Health India TPA Health Plan TPA Healthcare healthcare Medcorp
Services Limited Parekh
Insurance
Details of coverage extended 27% Insurance Providers

96%
89% 88%
18%
59%
43% 12% 11%
8% 10%
7% 7%
7% 3%
Employee Spouse Dependent Parents Parents-in-law Domestic Siblings New India United Oriental National Bajaj ICICI IFFCO Others
Children Partner Assurance India Insrance Insurance Allianz Lombard Tokio
(Unmarried) Assurance Company Company General General
Insurance Insurance
82
Coverage of Children and Dependent
Any conditions for coverage of children (in terms of

age or number of children covered) If Yes, Please specify the Number of children covered
2% 5%
4%
2
14%
3
Yes No
4
86% 89%
No Limit
Age of the Children (who are covered) Age of the Parent / In Laws (who are covered)
3%
7% Below 25 Years
Less than 85 Years
22%
25%
Up to 25 Years
Up to 85 Years
48%
25 to 30 Years of 12%
Less than 100
Age
65% No Limit 18% No limit
83
Hospitalization Insurance – Detail
Corporate Annual Buffer provided

Hospitalization Entitlement
9% 12%
27% Fixed
Floater + Floater Yes No

(Hybrid)
64% Hybrid + 88%

Discretionary
Buffer Limit Co – Pay Model Prevalence

4% 1%
4%
<= INR 50 lacs
Upto INR 1 Cr.

16%
1 X Sum Insured 46%
Yes No
54%
More than 1 Crore
75%
2 X Sum Insured
84
Fixed Entitlement Per Annum (INR)
Employee Spouse Children Parents / In - Laws
Levels of
Management
10th 90th 10th 90th 10th 90th 10th 90th
Median Median Median Median
Percentile Percentile Percentile Percentile Percentile Percentile Percentile Percentile
Entry Level 1,00,000 3,00,000 5,00,000 1,00,000 3,00,000 5,00,000 1,00,000 3,00,000 5,00,000 1,00,000 3,00,000 5,00,000
Junior Mgmt. 1,00,000 3,00,000 5,40,000 1,00,000 3,00,000 7,00,000 1,00,000 3,00,000 7,00,000 1,00,000 3,00,000 7,00,000
Middle Mgmt. 1,40,000 4,00,000 8,40,000 1,40,000 4,00,000 8,40,000 1,40,000 4,00,000 8,40,000 2,35,000 3,00,000 8,60,000
Senior Mgmt. 2,35,000 5,00,000 10,00,000 1,90,000 5,00,000 10,00,000 1,90,000 5,00,000 10,00,000 2,40,000 5,00,000 10,00,000
Top Mgmt. 2,85,000 5,00,000 10,00,000 2,35,000 5,00,000 10,00,000 2,35,000 5,00,000 10,00,000 3,00,000 5,00,000 10,00,000
85
Floater Entitlement Per Annum (INR)
Employee Spouse Children Parents / In - Laws
Levels of
Management
10th 90th 10th 90th 10th 90th 10th 90th
Median Median Median Median
Percentile Percentile Percentile Percentile Percentile Percentile Percentile Percentile
Entry Level 1,20,000 3,00,000 5,00,000 1,00,000 3,00,000 5,00,000 1,00,000 3,00,000 5,00,000 1,00,000 3,00,000 5,00,000
Junior Mgmt. 1,90,000 3,50,000 5,20,000 1,70,000 3,50,000 5,60,000 1,70,000 3,50,000 5,60,000 1,50,000 3,50,000 6,20,000
Middle Mgmt. 2,00,000 4,00,000 6,40,000 2,00,000 4,00,000 6,90,000 2,00,000 4,00,000 6,90,000 2,00,000 4,00,000 7,00,000
Senior Mgmt. 3,00,000 5,00,000 8,00,000 3,00,000 5,00,000 8,00,000 3,00,000 5,00,000 8,00,000 3,00,000 5,00,000 8,40,000
Top Mgmt. 3,00,000 5,00,000 10,00,000 3,000,00 5,00,000 10,00,000 3,00,000 5,00,000 10,00,000 3,00,000 5,00,000 10,00,000
86
Hospitalization Insurance – Insurance claim and Premium Cost
Co – Pay Model for Insurance Claim Premium Per Employee
Employee
%age Co- Pay Typical Premium Paid
10th Percentile Median 90th Percentile INR - Average Premium Paid
Per Employee
Employee 10% 10% 20% 10th Percentile Median 90th Percentile
Spouse 10% 10% 20%
Per Employee 6,652 14,603 30,043
Children 10% 10% 20%
Parents/In Laws 10% 15% 20%
Premium Contribution Ratio
Premium Contribution by Employer

%age Co- Pay
Employee 50% 100% 100%
Spouse 50% 100% 100%
Children 50% 100% 100%
Parents/In Laws 0% 50% 100%

87
Hospitalization Insurance – Premium Cost and Top up Cost
Premium costs partly borne by the employee Top up provided by employer
37%
46%
Yes No Yes No
54%
63%
Top Up Plan Entitlement
Top-Up Entitlement (INR) Approximate Utilization

Level of Management
10th Percentile Median 90th Percentile 10th Percentile Median 90th Percentile
Entry Level 3,00,000 5,00,000 18,00,000 0% 10% 26%
Junior Management 3,00,000 7,00,000 20,00,000 3% 15% 39%
Middle Management 5,00,000 10,00,000 20,00,000 4% 18% 45%
Senior Management 5,00,000 10,00,000 20,00,000 10% 22% 54%
Top Management 5,00,000 10,00,000 20,00,000 20% 40% 65%
A few companies offer top up as multiple of Sum Insured 88

Room Entitlement
Room Entitlement Categories
General ICU
12% Fixed Quantum
% of SI
9% 32% Room Type (Single 10th 90th 10th 90th
Median Median
/ Shared) Percentile Percentile Percentile Percentile
% of SI
No Capping Metros &

1% 1% 3% 1% 2% 5%
36% 11% Non - Metros
Hybrid
Metros (General) Metros (ICU)

Fixed Entitlement (INR)
Entry Level 2,000 5,000 9,800 2,500 6,000 14,500
Junior Management 2,730 5,000 9,800 4,000 6,250 14,500
Middle Management 3,000 5,000 10,000 4,100 6,750 15,900
Senior Management 4,000 6,000 10,000 5,000 8,000 15,900
Top Management 4,000 6,000 19,000 5,000 8,000 19,600
89
Room Entitlement
Non - Metros (General) Non - Metros (ICU)

Fixed Entitlement (INR)
Entry Level 1,500 4,500 9,500 2,500 6,000 14,000
Junior Management 2,500 4,500 9,500 3,800 6,000 14,000
Middle Management 2,700 5,000 9,800 4,050 6,500 15,500
Senior Management 3,800 5,500 9,800 4,800 7,000 15,500
Top Management 3,800 6,000 18,000 5,000 8,000 19,000
Ambulance charges are part of the insurance or is it If over and above, then what is the limit
over & above
3%
Part of Insurance 0 - INR 2500

12%
44%
INR 2501 - INR 5000
Over & above the
Insurance 53%
No Limit
88%
90
Benefit Rider – Additional Medical Benefits Included
71%
64% 64%
55% 54%
47%
38%
29% 30% 31%
25% 25%
22% 21%
17% 18% 17%
10%
7% 6%
91
Maternity Cover
Hospitalization Entitlement Normal Delivery Entitlement
5%
9% Less than INR

Included in 19% 50,000
hospitalization
INR 50,000
entitlement 31%
Over and above INR 50,001 -

hospitalization INR 1 Lac
91% entitlement 45%
More than INR 1
Lac
Normal Delivery Entitlement Additional Maternity – Benefit Riders
5%
91%
Less than INR
17% 50,000
INR 50,000
37%
79%
INR 50,001 -
INR 1 Lac
41%
More than INR 1
Lac
Baby Day One Cover Post & Pre Natal Cover
92
Claim Ratio
(Percentage)
2017 2018 2019
Median 93% 91% 98%
Increase in Premium Costs

(Percentage)
2017 2018 2019
Median 5% 7% 10%
93
Accident & Life Insurance
94
Accident & Life Insurance (1/6)
About the Policy
Accidental Death - Type of insurance where the policy holder is paid directly in the event of an accident resulting in injury of the insured. Accident insurance is
complementary to, not a replacement for, health insurance.
Permanent Disability - A person is permanently and totally disabled if he/she can't engage in any substantial gainful activity because of a physical or mental
condition
Temporary Disability - Refers to an injury that does not result in death or permanent disability, but makes the injured person unable to perform regular duties
or activities
Prevalence
Life Insurance Accidental Insurance

87%
79%
26% All Employees

43% Grade Specific
25%
Yes No Yes No
57%
5% 4% 3%
74%
Life Insurance Accidental Critical Insurance

Insurance
95
Accident and Life Insurance – Details
22%
Life Insurance Provider
14% 14%
12% 12%
9%
7%
5% 5%
Life Insurance Aditya Birla Sunlife Kotak Mahindra Life ICICI Prudential Life PNB Metlife Max Life Excide life Insurance Tata AIA Any other
Corporation Insurance Insurance Company Insurance
Life Insurance Provider
Insurance Administration
98% 99% 100%
Any Other
Life Insurance
- HDFC - Reliance Insurance
Accidental Insurance - SBI Life - Sud Life
Critical Illness - Edelweiss Tokio Life Insurance
- Future Generali India Pvt Ltd.
- Aegon Life Insurance Co.ltd.
2% 1% 0% - Bajaj
Insurance Provider Internally Administered
96
Accidental Insurance Provider Any Other - Reliance

39%
- The New India
- Bajaj Allianz Life Assurance
20% Insurance Co Ltd - Aditya Birla Insurance
10% - Future Generali Brokers Ltd.
8% 7% 6% 6% 4% - Kotak - Bharti AXA
- Liberty General - Cholamandalam
New India Tata ICICI United India HDFC Ergo Oriental National Any Others Insurance Co Ltd - Max Bupa
Assurance Insurance Insurance Insurance co.
Ltd
27%
Critical Insurance Provider
18%
Any Other
15%
13%
10% 10% - Reliance - Insurance Co Ltd
8%
- Star Health - The New India
- Future Generalli Assurance Co. Ltd
- HDFC ERGO General
New India United India Aditya Birla Kotak Mahindra Max Life Oriental Any Other
Insurance Insurance Capital insurance
company limited
97
Nature of Entitlement (Life Insurance) Nature of Entitlement (Accidental Insurance)
10% Fixed Entitlement 10% Fixed Entitlement
16% Linked to CTC 16% Linked to CTC

48%
Linked to TFP 53% Linked to TFP
26% 21%
Linked to Basic Linked to Basic
Dual Coverage Top up Option

Dual
Coverage –
Accidental
Death is a 15%
double
43%
indemnity
rider to a life Yes No
57% Yes No
insurance
85%
98
Accident and Life Insurance – Entitlement
Life Insurance Accidental Insurance (Death Benefit) Linked Entitlements

Salary
INR
10th 90th 10th 90th Component Life Accidental
Median Median
Percentile Percentile Percentile Percentile Insurance Insurance
Entry Level 5,00,000 10,00,000 75,00,000 5,00,000 10,00,000 20,00,000 Basic 2 to 17 times 2 to 17 times
Junior Mgmt. 10,00,000 25,00,000 1,00,00,000 8,00,000 15,00,000 50,00,000 CTC 1 to 10 times 1 to 6 times
Middle Mgmt. 25,00,000 1,00,00,000 5,00,00,000 10,00,000 20,00,000 60,00,000 TFP 1 to 12 times 1 to 12 times
Senior Mgmt. 50,00,000 2,50,00,000 7,50,00,000 12,00,000 30,00,000 70,00,000
Top Mgmt. 2,50,00,000 5,00,00,000 9,50,00,000 20,00,000 50,00,000 1,00,00,000
99
Benefit Riders - Additional Medical Benefits Included
36% 36%
31%
26%
26%
25% 25%
22%
19%
13% 13%
12% 12%
7%
6% 6% 6%
Inpatient Accidental Accidental Burns Broken Bones Coma Domestic Loss of Legal Purchase of On duty (in Transportation Disappearance Cost of Children Sports activity Widowhood
accidental Daily Cash Dental travel for employment expenses blood office) cover of imported benefit support items education cover
hospitalization benefit expenses medical due to medicine grant /
treatment accident Marriage
expenses for
children
100
Post Retirement Medical Benefit
101
Post Retirement Medical Benefit (1/4)
Total Number of Participating Organization: 33
About the Policy
Post-employment benefits are one of the types of employee benefits. They are the benefits which will need to be paid after the employee has completed
his/her employment. The examples of post employment benefits include pensions, post-employment life insurance and post-employment medical care.
This Benefit tends to have high actuarial valuations as the benefits is provided for anywhere between 10 years to life for the retired employee and the
inflationary nature of medical expenses in the country.
Post Retirement Medical Benefit
Prevalence Type of Employees Covered
90%
80%
16% 70%
50%
Yes
No
84%
All Employees Specific Grade Specific Finction Specific Tenure
102
Post Retirement Medical Benefit - Details
Is the scheme open (can new joinees can join the scheme) Types of Post Retirements Medical Benefits Offered
70% 59%
60%
50% Domiciliary expense
40% 35%
28% reimbursement
30%
36% 20%
10% Hospitalization benefit
Yes No 0%
64% Domiciliary Hospitalization Free/Subsidized
Free/Subsidized Treatment
expense benefit Treatment under under Own Hospital/Medical
reimbursement Own Facility
Hospital/Medical
Facility
Employees covered after Retirement
8% Age of Children covered :

Self
- Average age of children which are covered under

47%
Spouse PRMB is 25 years
45%
Other Dependents
103
Tertiary Hospitalization Benefits Coverage PRMB Is Hospitalization treatment is covered through insurer
7%
23% Dental benefit
50% Vision / Spectacle benefits

Yes No
27% Cataract
93%
Is Hospitalization Sum Insured covered on a Floater Basis Mediclaim policy for retired employees separate from the
mediclaim policy of Active employees
10%
Part of Actives
33% policy
Yes No
Different policy
67% than Actives
90%
104
if there is Co-Pay for Premium amount
42%
Yes No
58%
105
Sales Incentive
106
Sales Incentive (1/9)
About the Policy

A sales incentive plan is a way to motivate and reward salespeople for reaching and exceeding their sales goals. It's used in addition to a standard
compensation plan.
Plan Details
Prevalence Employees on sales incentive plan eligibility for any other Eligibility Criteria
variable pay plan
77%
22%
48%
52%
78%
23%
Yes No Yes No From the data of joining Specific tenure
Commentary:
52% organisations has a Sales Incentive plan, for majorly eligibility starts from the Date of joining (77%).
107
Prevalence of Sales Incentive Payout as a

Prevalence by Role per components of Pay
9%
Territory Manager 90%
10%
45%
Area Sales Manager 75%
25%
Regional Sales Manager 15%

29%
Zonal Sales Manager 5%

As a % of Total Fixed Pay As a % of Total Cost to Company
As a % of Guaranteed Cash As a % of Basic Salary
National Sales Manager 1%
As a fixed amount by grade
Note:
• 80% is the threshold level of performance below which no variable payout is made, 57% of target payout at 80% of target performance.
• Above 137.5% (Industry Average) of target performance, payout is capped
• 200% or target payout at 137.5% (Industry Average) of target performance.
108
Quantum of Sales Incentive
Average Sales Incentive Target Payout
Levels of Management
Basic Salary Guaranteed Cash Total Fixed Pay Total Cost to Company
Sales Officer 24% 20% 17% 12%
Territory Sales Manager 31% 26% 22% 17%
Area Sales Manager 36% 30% 24% 19%
Regional, Zonal and National Not Prevalent – Covered under Annual Variable Pay Plan
Level Manager
Levels of Management Average Actual Payout
Sales Officer 28.6%
Territory Sales Manager 29.2%
Area Sales Manager 30.3%
109
Performance Parameters
Sales Officer
14%
13%
11%
10%
9%
8%
6%
5% 5% 4% 4% 4% 4% 4%
Revenue Revenue Product Mix Collections Volume Profitability Retention Credit Cycle/ Customer Focus Brand Recruitment Activation Expense Market Share
(Existing (New & Category Growth Financials Satisfaction & Priority & Retention Control
Clients) Clients) Targets Selling of partners
Top Line Measures Process Measures
People Measures Bottom Line Measures
110
Territory Sales Manager

17%
13%
10% 9%
8%
5% 5% 5% 5% 5% 5% 4% 4% 4%
Revenue Revenue Collections Volume Profitability Retention Credit Cycle/ Product Mix Customer Focus Brand Recruitment Activation Expense Market Share
(Existing (New Growth Financials & Category Satisfaction & Priority & Retention Control
Clients) Clients) Targets Selling of partners
111
Area Sales Manager

12% 12%
9% 9%
8%
7% 7% 7%
6%
6%
5% 4% 4%
3%
Revenue Revenue Volume Collections Profitability Recruitment Activation Expense Retention Customer Credit Cycle/ Product Mix Focus Brand Market
(Existing (New Growth & Retention Control Satisfaction Financials & Category & Priority Share
Clients) Clients) of partners Targets Selling
112
Weightages linked to achievement
200%
India/Global Corp. BU/Team Individual
Levels
Performance Performance Performance 180%
160%
Sales Officer 10% 5% 85% (100%)*
Percentage of Incentive Earned

140%
Territory Sales
3% 22% 74% (100%)* 120%
Manager
100%
Area Sales Manager 5% 26% 69%
80%
Regional Sales 60%

NA NA NA
Manager
40%
Zonal Sales Manager NA NA NA 20%
0%
National Sales 40% 60% 80% 100% 120% 140%
NA NA NA
Manager
Percentage of Target Achieved
Note:
1. Majority of organizations at SO / TSM give 100% weightage to Individual Performance for SIPs
2. Individual performance here refers to the parameter-wise scoring as per plan architecture for the individual under consideration. Does
not denote Appraisal Rating
113
Sales Incentive – Non-Monetary Incentive & Plan Funding
Non-monetary incentive Funding of Sales Incentive Plan
67%
14%
86%
15%
12%
6%
Target approach – budget Self funded (funded Hybrid (Target based + From next year's salary
Yes No arrived at assuming through results) pool based) Approach increase budget
certain level of
performance
114
Sales Incentive – Plan Details
Frequency of Payout Provision for deferment of the payout
50%
42% 22%
36%
78%
12%
Yes No
Quarterly Monthly Annual Half Yearly
Payouts in case of separation/resignation
56%
23%
13%
Employee must be on payroll on date of Payout made basis performance grid, even Pro-rated payout basis pro-rated target
payout to receive incentive payout if payout date is after separation
115
Variable Pay
116
Variable Pay (1/6)
About the Policy
Variable pay is the portion of sales compensation determined by employee performance. When employees hit their goals, variable pay is provided as a type
of bonus, incentive pay, or commission. Variable pay, also known as performance pay, is used to recognize and reward employee contribution above and
beyond their normal job requirements, towards company productivity, profitability, quality and the like.
Plan Details
85%
75%
50%
57%
37%
15%
7% 5%
10%
Individual Organization Department/Unit Team Group Profit Sharing Productivity Gain All employees Specific grades Role related
Performance Performance Performance Incentive Plan Sharing Plan
Bonus
117
Variable Pay (2/6)
Individual Performance Bonus - Plan Details
Eligibility of Sales Employees Minimum Service Requirement
59%
28%
17%
72% 14%
11%
From Date of 6 months 3 months 1 year

Joining
Yes No
118
Variable Pay (3/6)
Weightages linked to achievement Funding of Variable Pay Plan
India/Global Corp. BU/Team Individual

Levels 75%
Performance Performance Performance
Entry Level - 12% 88%
Junior Management 8% 14% 78%
Senior Management 36% 50% 14% 16%

7% 9%
Target approach – Hybrid (Target based Self funded (funded From next year's
budget arrived at + pool based) through results) salary increase
assuming certain Approach budget
level of performance
Determination of Target bonus

35%
24%
18%
10% 3%
As a % of Total Fixed Pay As a % of Total Cost to As a % of Guaranteed Cash As a % of Basic Salary As a fixed amount by grade
Company
119
Variable Pay (4/6)
Quantum of Variable Pay
Average Target
Levels of Management
Basic Salary Guaranteed Cash Total Fixed Pay Total Cost to Company
Entry Level 27% 22% 16% 11%
Junior Management 34% 27% 21% 15%
Middle Management 42% 36% 28% 22%
Senior Management 53% 41% 33% 26%
Top Management 67% 58% 50% 42%
Note : The above table highlights the average target which is set at each level as per the respective anchors.
120
Variable Pay (5/6)
Organisation / Department - Performance Measures
Weightage for Performance Parameters

Performance measures evaluated for assessing corporate level performance
74%
Level Weightage
62%
Profit before or
42.8%
After Tax
Revenue 42.0%
34%
Operating Income 33.7%
18% Volume 29.6%

10% 8% Customer
24.0%
Engagement
Revenue Profit before or Operating Market Share Customer Volume Market Share 21.1%
After Tax Income Engagement
Commentary:
76.7% is the average threshold level of performance below which no variable payout is made.
70% is payout level (as % target payout) corresponding to threshold level of performance.
Payout capped beyond a certain performance level – 134.7%,
Maximum payout level (as % of target payout) corresponding to the capped level of performance – 162.7%
121
Variable Pay (6/6)
Individual Performance Measures
Performance assessment
Kind of performance scale used:
1%
5-Point Scale 64% 10%
4-Point Scale 19% 21%
68%
3-Point Scale 16%
6-Point Scale 3%
Monthly Quarterly Half Yearly Annually
Payout Differentiation
Frequency of payout
Performance Ratings Details

Annually 88%
Does not Meets Expectations 7%
Quarterly 8%
Inconsistently Meets Expectations 44%
Half Yearly 7% Meets Expectations 91%
Monthly Often Exceeds Expectations 110%

4%
Consistently Exceeds Expectation 133%

122
Sign-on Bonus and Retention Bonus
123
Sign-on Bonus and Retention (1/2)
About the Policy
A signing bonus or sign-on bonus is a sum of money paid to a new employee by a company as an incentive to join that company. They are often given as a
way of making a compensation package more attractive to the employee (e.g., if the annual salary is lower than he or she desires).
A retention bonus is a targeted payment or reward outside of an employee's regular salary that is offered as an incentive to keep a key employee on the
job during a particularly crucial business cycle, such as a merger or acquisition, or during a crucial production period.
Sign-On Bonus and Retention – Prevalence and Eligibility
Eligibility
Prevalence
93% 64%
85% 58%
42%
35% 36%
30%
16% 17%
14%
10%
Sign On Bonus Retention Bonus All Employees Level Specific Functions Specific Critical Positions High Performing
Incumbents
Sign On Bonus Retention Bonus
124
Sign-on Bonus and Retention (2/2)
Plan Details
Service Agreement:
Amount of sign-on and retention bonus as a % of Total
Fixed Pay: 47% or organizations have 1 year as minimum
tenure requirement, followed by 24% of
Levels Sign On Bonus Retention Bonus 24% organizations which have 2 years as the period.
Entry Level 13% 14%

76%
Junior Management 15% 15%
Middle Management 16% 16%

Yes No
Senior Management 19% 20%
Frequency
Top Management 25% 30%
44%
Treatment in case of resignation within service 31%

agreement:
24%
Sign-on Bonus
15%
10% 6%
One-time Once in every few Any Other, please Annually Bi-annually

specific years, please specify details
mention the number
of years
90%
Number of years : 2-3 years
Full amount is recovered Pro-rated recovery

125
Car Policy
126
Car Policy (1/11)
About the Policy
Financial Lease: A finance lease is defined in Statement of Standard Accounting Practice as a lease that transfers. Financial lease agreement provides that
the customer pays the full value of the car within a stipulated period. After expiry of the agreement, lessee (customer) becomes the owner of the car.
Operating Lease: Is a type of financing providing that during operation of the agreement (usually 2-5 years) customer pays the lease fee. Monthly
payments are affected by such factors as initial value of the car, amount of the first deposit, interest rate and the remaining value in the end of the lease
period.
Prevalence – Car Policy
86%
Other Details:
• 63% organizations provide Car Benefit

to only Top and Senior Management
39% • Other 38% organization also extend car

benefit to Middle Management
61% • 2% organization provide car policy on

the basis of compensation
8%
4%
2%
Yes No All Employees Specific Grades Specific Functions Any Other, please
specify details
127
Car Policy (2/11)
Car Policy – Details
Car Plan Details Details
Prevalence – Type of Car Poilcy P10 Mid P90

Duration of the lease
provided to employees
3.5 Years 4 Years 5 Years
ADL Lease Plan AVS Other

Car lease vendor
24% 26% 9% 41%
34%
39% 62.5% organization 37.5% organization
Company owned car Service charges which
allow no service charge allow service charge by
Financial Lease
are being charged
for car lease vendor the car lease vendor
Operating Lease
P10 Mid P90

27% Rate of interest
9% 11% 13%
P10 Mid P90

Residual value as a
percentage of the total
car value 3% 14% 29%
128
Car Policy (3/11)
Car Policy – Details

Car Policy Linkage to Compensation
Percentage of Employees Availing

Level
P10 Med P90
Part of flexible
Entry Level - - - 39% compensation
Junior
11% 60% 92% Pure benefit over
Management
Middle 61% and above Total
11% 94% 100% Fixed Pay
Management
Senior
22% 100% 100%
Management
Junior Middle Senior Top Value of Car (INR)

Level
Any Car with maximum Level P10 Med P90
defined monetary 36% 18% 13% 11%
entitlement Junior
365,000 550,000 1,060,000
Management
Fixed monetary entitlement 29% 36% 46% 43% Middle
478,000 900,000 2,190,000
Management
Annual Lease Rentals
14% 18% 20% 23% Senior
Specified 507,500 1,325,000 3,310,000
Management
Car Model Specified 7% 15% 11% 15%
EMI Plan (Loan Assistance Top Management 1,040,000 3,500,000 5,000,000
14% 12% 11% 8%
Provided)
129
Car Policy (4/11)
Car Policy – Fuel Details
Linkage to Compensation
Car Detail - Element Eligibility Pure benefit over and Part of flexible
above Total Fixed Pay compensation
Fuel Expenses 73% 33% 67%
Maintenance 63% 35% 52%
Accessories 30% 15% 26%
Chauffer 53% 24% 48%
Prevalence - Part of
Prevalence -
Flexible Compensation Prevalence - Fuel Prevalence - Not
Levels Reimbursement of Annual Amount (INR)
(Basis Employee Allowance provided
actual cost
Choice)
Entry Level 24% 6% 6% 65% 96,000
Junior Management 21% 8% 33% 38% 100,000
Middle Management 19% 16% 50% 16% 108,000
Senior Management 16% 27% 51% 5% 150,000
Top Management 12% 47% 40% 2% 178,350
130
Car Policy (5/11)
Car Policy – Maintenance Details
Prevalence - Prevalence - Prevalence -

Prevalence - Prevalence - Prevalence - Prevalence - Annual
Part of Clubbed with Reimburseme Prevalence -
Levels Reimbursed Maintenance Part of Covered in Amount
Flexible Fuel nt of Actual Not Provided
at Actuals Allowance Flex/FCP Cost of Car (INR)
Compensation Entitlement Cost
Entry Level 0% 0% 17% 0% 8% 0% 0% 75% -
Junior
5% 0% 21% 21% 5% 0% 11% 37% 72,000
Management
Middle
7% 10% 27% 23% 3% 3% 13% 13% 39,000
Management
Senior
11% 19% 22% 19% 3% 3% 14% 8% 64,500
Management
Top
31% 12% 19% 17% 0% 2% 12% 7% 90,000
Management
131
Car Policy (6/11)
Car Policy – Accessories Details
Part of Flexible Reimbursement of actual

Clubbed with
Levels Compensation (Basis Included in car cost cost (with or without a Not provided
maintenance
Employee Choice) cap)
Entry Level 0% 0% 0% 0% 100%
Junior Management 7% 0% 7% 0% 86%
Middle Management 9% 17% 9% 0% 65%
Senior Management 12% 19% 12% 0% 58%
Top Management 8% 23% 12% 4% 54%
Car Policy – Chauffeur Details
Part of Flexible
Compensation Salary paid by the Reimbursement of
Levels Driver Allowance Part of Flex/FCP Not provided Annual Amount
(Basis Employee Company actual cost
Choice)
Entry Level 22% 0% 0% 0% 0% 78% -
Junior Management 29% 14% 0% 0% 7% 50% 192,000
Middle Management 43% 33% 0% 0% 3% 20% 180,000
Senior Management 41% 41% 0% 3% 3% 14% 217,200
Top Management 35% 33% 13% 9% 2% 9% 240,000
132
Car Policy (7/11)
Car Policy –Details
Provision for a second car
6%
Types of Expenses Details
• 3% organization cover the same on actuals

Road Tax
• 2% organization cover as part of car lease

Insurance for 1st year
94% • 2% organization cover as part of car lease
Yes No
Insurance for the • 3% organization cover the same on actuals
Is the employee able to purchase another car duration of lease period • 2% organization cover as part of car lease
within the same entitlement

Taxes & Registration • 2% organization cover as part of car lease
• 2% organization cover as part of Car Value
19%
License Fees • NA
81%
Yes No
133
Car Policy (8/11)
Car Policy –Details
Cash out option/Monetization of Car related benefits Prevalence Basis of Details

Prevalence
Replacement
Choice to Cash it out/ Monetize it 27%
• Median No. of Years provided
Does the organization gross up the allowance for taxes 22% Number of
27% for Car Replacement =
years
Differentiated Same 4.25Years
Is the cashed out amount same for all grades
16% 9% Number of • Median No. of Km provided by
5%
kilometers run organization = 4.25 Km
Change in
Car Cash out Annual Amount 3% NA
entitlement
444,000
Replacement period differ by employee grade

255,000
144,000 93%
0 0
Entry Level Junior Management Middle Senior Top Management

Management Management
Change of entitlement upon promotion Prevalence

Same car continues till replacement period (with cash-out of difference
30%
amount)
Same car continues till replacement period (without cash-out of difference
15% 7%
amount)
Eligible for new car at promotion 12% Yes No
134
Car Policy (9/11)
Separation prior to end of lease period or replacement period
40%
29%
8%
6%
2% 2%
Foreclosure (at WDV or accounting Returned to the leasing company Returned to the company pool Auctioned (Internally/Externally) Transferred to employee at no cost Convert lease to loan
principles as per agreement with
Leasing Partner)
Separation at the end of lease period or replacement period
29%
27%
15%
10%
8%
3% 3%
2% 2%
Returned to the leasing Sold to employee at: Returned to the Employee must purchase Sold to employee at: Sold to employee at: Auctioned Transferred to employee Convert lease to loan
company Book value calculated by company pool car Market Value Book value calculated by (Internally/Externally) at no cost
w.d.v. straight line method
135
Car Policy (10/11)
Car Policy – Other Details
22% 22%
21%
8%
0% 0%
Foreclosure Fine Toll Charges – Direct / Full Fuel, Maintenance & GST Charges Toll Charges – Toll Card Toll Charges – Monthly
Reimbursement Insurance reimbursement Cash Allowance
136
Car Policy (11/11)
Income Tax Rules on perquisite value of Company provided vehicle
Car Owned/ Hired by Company Car owned by employee

Applicable Perquisite value
applicable for taxation in the
hands of the employee
Above 1600 CC Vehicle Below 1600 CC Vehicle Above 1600 CC Vehicle Below 1600 CC Vehicle
Used exclusively for Personal Actual amount of expenditure reimbursed by employer less expense
No perquisite
purpose charged from employee
Actual expenditure less INR 2400 Actual expenditure less INR 1800
INR 2400 per month for running INR 1800 per month for running
Expenses per month for running and per month for running and
and maintenance cost plus INR and maintenance cost plus INR 900
reimbursed by maintenance cost plus INR 900 maintenance cost plus INR 900
900 per month, if chauffeur is per month, if chauffeur is also
the employer per month, if chauffeur is also per month, if chauffeur is also
also provided provided
provided provided
Used partially
for self and
office
Employer only INR 900 per month for running
INR 600 per month for running and
reimburses and maintenance cost plus INR No perquisite, if employer has maintained documents
maintenance cost plus INR 900 per
the expenses 900 per month, if chauffeur is substantiating reimbursement only for official use
month, if chauffeur is also provided
for official use also provided
137
Housing Assistance
138
Housing Assistance (1/5)
About the Policy

Housing Assistance is a benefit which can be extended in the form HRA, CLA, COA, Security Deposit or Brokerage. It is provided to aid
employees to meet the cost of accommodation either partially or completely. In some cases, Housing Assistance may also be provided on
account of organizational exigencies. Typically organizations charge a fee for providing COA, CLA.
Prevalence – Relocation Assistance
Prevalence of organization
providing Housing
Assistance to employees: 96%
1. Yes: 53%
2. No: 38%
3. Case to Case Basis: 8%
• Few organization provide

subsidized interest fee
housing loans
• 4% organization provide 23% 21%
monthly rental assistance
to employees over and 7% 7%
4%
above CTC
HRA Company Owned Company Leased Security Deposit Brokerage Option for employees
Accomodation Accomodation for HRA, CLA or COA
139
Housing Assistance – Other Details
Eligibility All Employees Specific Grades Function Specific Tenure Specific
Company Leased Accommodation 19% 31% 13% 0%

Company Owned Accommodation 29% 14% 14% 0%
Company Leased Metro: Delhi (NCR), Kolkata,

Mumbai Other State Capitals Other Cities
Accommodation Chennai
(INR Medians) Eligibility Entitlement Availement Eligibility Entitlement Availement Eligibility Entitlement Availement Eligibility Entitlement Availement
Entry Level 25% 15,000 4% 13% 7,738 5% 13% 7,280 3% 13% 5,350 2%
Junior Management 25% 27,264 9% 13% 21,130 7% 13% 9,503 4% 13% 8,109 3%
Middle Management 38% 54,115 11% 19% 31,730 9% 13% 13,808 7% 13% 11,183 7%
Senior Management 38% 71,273 11% 19% 43,705 5% 19% 22,984 2% 19% 20,384 1%
Top Management 44% 90,000 11% 25% 53,680 3% 25% 30,316 2% 25% 27,248 1%
CLA Linkage to Compensation CLA – Option to Cash out

100.0%
12%
Pure benefit over and

above Total Fixed Pay
Part of flexible
compensation 0%
88%
Yes No
140
Housing Assistance – Other Details
House Lease Borne Element Prevalence

Prevalence Tenure of CLA (Median)
by:
Employer 67% Brokerage 33%
2 Months -12 Months
Employee 33% Security Despots 38%
Lease Type CLA Brokerage Paid by: Security Deposit
75% 75%
83%
25%
25%
17%
0% 0%
Employee Employer Co-Pay Employee Employer Co-Pay
Company Lease Self Lease or Spouse Lease
141
Company Owned Accommodation - Eligibility
Plant Location
COA Eligibility
1 BHK 2 BHK 3 BHK 4 BHK+ Villa Bungalow
Entry Level 72% 27% 1% - - -
Junior Management 36% 62% 2% - - -
Middle Management 13% 57% 27% 3% - -
Senior Management 4% 19% 47% 13% - 17%
Top Management 4% 12% 16% 9% 14% 45%
Headquarters
COA Eligibility
Entry Level 84% 16% - - - -
Junior Management 41% 59% - - - -
Senior Management - 14% 63% 11% 5% 7%
Top Management - 5% 11% 4% 13% 67%
142
Company Owned Accommodation - Eligibility
Other Location
COA Eligibility
Entry Level 76% 24% - - - -
Junior Management 47% 53% - - - -
Senior Management 7% 7% 48% 17% 7% 14%
Top Management - 15% 13% 10% 13% 49%
CLA/COA Eligibility Recovery Amount*

Recovery of COA/CLA
Entry Level • INR 500-900/Month
Junior Management • INR 800 – 1500/ Month
44% Yes
Middle Management • INR 800 – 1500/ Month
56% No
Senior Management • INR 1200 – 1800/ Month
Top Management • INR 1200 – 2000/ Month
*We have observed some organization recover COA as a percentage of salary

143
Club Membership
144
Club Membership (1/2)
Prevalence and Eligibility
Any Other Details:
53% -Few organization gives it only to
18% expats
-For few organization club membership

30% is part of flexi basket
13%
82% 3%
All Employees Specific Grades Job Related Any Other

No Yes
Employee Count and Coverage
Coverage
Details-
Percentage of Employees -Club Membership is provided as part
Levels Employees only
Availing 28% of compensation for some business
Senior leaders and members of executive
14% Employee and management
Management spouse
56%
Employee and -For other employees, tie up is
Top Management 56% 17%
family available in case they wish to avail by
self sponsorship
145
Club Membership (2/2)
Nature of Membership
Details-
Nature of Membership Multiple Membership -Expats and Leadership team are eligible
for multiple membership
-Companies are giving club membership for

the following clubs: Saturday
25% 28%
Club(Kolkata), MCA (Mumbai), The
Willingdon sports club(Mumbai), Delhi
Gymkhana Club(New Delhi), Bombay
75% 72%
Gymkhana Club (Mumbai)
-Average tenure of membership is 4 years

with an average one time enrolment fee of
Corporate Membership Individual Memberhsip Yes No INR 3lac
-Average Subscription cost is INR 11750
Expenses Covered
Kind of Benefit
One-time enrolment fee borne by Subscription fee
7%
20% 25%
58%
17%
80%
93%
Employer Employee Employer Employee Business Personal Both 146

Hardship and Site Allowance
147
Hardship and Site Allowance (1/9)
About the Policy

The hardship allowance is paid to encourage mobility to field locations and compensate staff for service in varying degrees of hardship/difficult conditions.
Site Allowance are often paid to employees on top of their Basic salary in recognition of the difficulties they face adjusting to life in a new location
Industry Wise Prevalence
Prevalence
If yes, then the criteria under which it is allowed- Prevalence
57%
16%
38%
24%
14% 14%
84%
Climate Security Risk Health Hazard Remoteness Lack of Basic Amenities

Yes No
Provision of Allowance:
-Some organizations are providing the allowance basis the criticality of the job
-Few organizations are giving it to employees working beyond official hours
-1 organization is providing it because of COVID-19 situation

148
Eligibility and Costing of Hardship Allowance
Eligibility Is hardship allowance costed as part of

48% employee’s CTC?
Any Other Details:
-Few organizations are providing it to
20% employees working on remote locations or
33%
deputed on project in other locations
24%
Reversal Policy
-More than 70% of the organization chose
80%
5% roll back as the reversal policy for the
allowance
Included in Total Cost to Company
All Employees Level Specific Functions Specific Any Other
Not included in Total Cost to Company
Fixed Entitlement Linked to Compensation
Grade
(Median) (Basic Pay)
Entry Level 4500 7-10%

30%
Junior Management 5500 15-25%
Middle Management 9500 25-30%

70%
Senior Management - -
Top Management - -
Fixed Amount Linked to Compensation
149
Prevalence of Site Allowance
If yes, then the criteria under which it is allowed-

Prevalence
Prevalence
15% 8%
85%
92%
Yes No Location of Site Criticality of Project
Fixed Entitlement
Grade Linked to Compensation
(Median)
Entry Level 3500 10%

40%
Junior Management 5500 15%
60%
Middle Management 7000 20%
Senior Management 10500 25%
Fixed Amount Linked to Compensation Top Management 12000 35%
150
Domestic and International Secondments
Prevalence Reasons for International Assignments
62%
50%
46%
41% 38%
59%
Yes No
Business Development Training/ Passing on Technical Filling-in Skill Gaps Career Development/
Knowledge International Exposure
Challenges faced during domestic and international Secondments
38%
31%
27%
23%
4%
Compensation & benefits inequities Adaptability of the Assignee to Sourcing the right talent from within Mobility of employees for Communication of the assignee
between international assignees and perform in the host/ other local the organization assignments compensation & benefits package
local employees location
151
Shift Allowance
Shift Allowance for Any other Benefit

Levels Shift Timings eligible shifts (In Entitlement details
INR per month) Nature of Benefit
(monthly) (INR)
Morning 3,315 Transport and Food 2000

Prevalence
Entry Level Evening 3,871 Transport and Food 2000
Night 5,030 Transport and Food 2000
Morning 3,912 Transport and Food 3000
Junior Management Evening 4,095 Transport and Food 3000

43%
57% Morning 4,272 Transport and Food 5500
Middle Management Evening 4,511 Transport and Food 5500
Morning NA NA -
Yes No Senior Management Evening NA NA -
Night NA NA -
Morning NA NA -
Top Management Evening NA NA -
Night NA NA -
152
City Compensatory Allowance
Prevalence If yes, then under which conditions is the allowance provided

75%
27%
25%
73%
Employee is transferred from home/base location to Employee is transferred to a location with higher
Yes No any other location cost of living
Eligibility
50%
Any Other:
-Few organizations are giving on case to
case basis
17%
8% 8%
All Employees Functions Specific Level Specific Any Other
153
City Compensatory Allowance – Entitlement-Tier I
Linkage to Compensation Fixed Entitlement

(Median INR)
Entry Level 4,600 10%

20%
Junior Management 8,000 30%
Middle Management 12,500 30%

80%
Senior Management 16,000 30%
Fixed Amount Linked to Compensation Top Management Actuals 30%
City Compensatory Allowance – Entitlement-Tier II
Linkage to Compensation Fixed Entitlement

(Median INR)
15% Entry Level 2,100 7%
Junior Management 3,300 15%
Middle Management 5,000 15%

85%
Senior Management 6,500 15%
Fixed Amount Linked to Compensation Top Management Actuals 15%
154
City Compensatory Allowance – Entitlement-Tier III
Fixed Entitlement
Grade
(Median INR)
Entry Level 1,600
Junior Management 2,300
Middle Management 3,000
Senior Management 4,000
Top Management Actuals
Reversal Policy
42%
33%
8%
Allowance is rolled back Allowance continues as is CTC is modified to include allowance
155
Health and Wellness
156
Health and Wellness (1/4)
About the Policy

Health and Wellness benefits are offered by employees for the following reasons:
• Improves morale
• Helps in better teamwork and social networks
• Increases productivity
• Reduces absenteeism
• Higher job satisfaction
• Stronger engagement.
Flexible Benefit Prevalence and Benefits
Do you have a documented Health and

Do you have a wellness committee?
Wellness Policy in your organisation?
42% 43%
58% 57%
Yes No Yes No
157
Health and Wellness – Prevalence
57%
45%
39%
35% 35% 34%
29% 29%
21%
18%
15%
Health Check Up Mental Wellness Employee On Site Availability of Dental and Eye Financial Sporting Events On Site Medical Fitness Programs Any Other
Programs Assistance Recreational health goods Check Up Planning Services Initiative
Programs Programs
Any Other Details:

-It includes Parental training sessions, blood donation camps, pregnancy care program, crèche facilities
158
Details of Plans
Avg. Cost Avg. Cost

borne by borne by
Types of Programs Details about the Program Eligibility Dependents Covered Frequency Employee Employer
monthly monthly
(INR) (INR)
35% organizations are providing All Employees- 36%

Spouse – 45% Annual – 80% 100% borne
Comprehensive Health Check up for all organizations
Spouse & Children – 15% Once in 2 years- 5% by employees
Health Check Up employees above the age of 35 while 20% are Above 35 years of 2500-4000
Spouse, Children & Ongoing-5% up to middle
covering all employees for annual health age- 10%
Parents/in-law – 30% Any Other- 10% management
check-up organizations
10% organizations organize check ups in

Spouse – 30% Annual – 75%
partnership with insurance broker, 15%
Spouse & Children – 40% Once in 2 years- 5%
Dental and Eye Check up organizations organize Quarterly camps in All Employees 3000 2000-5000
Spouse, Children & Ongoing-15%
office premises and rest of the organizations
Parents/in-law – 30% Any Other- 5%
provide it on annual basis
Few organization have fixed vendor to help Spouse – 30%

Annual – 45%
out employees, while others don’t have any tie Spouse & Children – 40%
Mental Wellness Programs All Employees Ongoing-40% 2550 6000-8000
up and provide in house assistance on need Spouse, Children &
Any Other- 15%
basis Parents/in-law – 30%
Complete counselling in multiple areas such as

health and wellness relates issues, including Spouse – 30%
Annual – 20%
mental wellbeing e.g., work life balance, Spouse & Children – 42%
Employee Assistance Programs All Employees Ongoing-70% None 1500-2500
anger, parenting, marriage, relationship, Spouse, Children &
Any Other- 10%
shyness, smoking/ alcohol, weight loss, sleep, Parents/in-law – 28%
premarital concerns, family
Few organization have fixed vendors to help Spouse – 10% Annual – 35%
out employees, while others don’t have any tie Spouse, Children & Once in 2 years- 5%
Financial Planning All Employees None 1100-2300
up and provide in house assistance on need Parents/in-law – 30% Ongoing-55%
basis Not Covered- 60% Any Other- 5%
159
Details of Plans
Avg. Cost Avg. Cost

borne by borne by
Types of Programs Details about the Program Eligibility Dependents Covered Frequency Employee Employer
monthly monthly
(INR) (INR)
10% organizations have given options to Spouse – 45%

Annual – 15%
employees to workout at office premises, rest Spouse & Children – 15%
Fitness Programs All Employees Ongoing-70% 500 1000-2000
organizations have tie ups with fitness Spouse, Children &
Any Other- 15%
clubs/gyms Parents/in-law – 30%
Annual – 5%
On Site Recreational Programs Managed in-house All Employees Not Covered Ongoing-90% 1000 500-2000
Any Other- 5%
Annual sports day, cricket, football or Annual – 37%

One time
Sporting events marathon are often conducted by All Employees Not Covered Ongoing-53% None
cost
organizations Any Other- 10%
Annual – 60%
Canteen tuck shop available at subsidized
Availability of health foods All Employees Not Covered Ongoing-35% 1500 500-2500
price
Any Other- 5%
Onsite care is convenient as it can improve

employees' use of preventive screenings,
immunizations and services that they might Spouse – 45%
not otherwise get. If employees are receiving Spouse & Children – 15% As per Negotiated
On Site Medical Services All Employees Ongoing- 100%
these recommended services, they're less Spouse, Children & utilization rates
likely to fall ill, to miss work or to make others Parents/in-law – 30%
at work sick.
160
Meal Benefit
161
Meal Benefit (1/3)
About the Policy

It covers free/subsidized food provided to employees on office premises or through meal vouchers. It spans across all the working population in the
organization, type of food available is typically dependent on the work-shifts followed in the organization. There in an opportunity for employees to avail
tax-saving on the Meal vouchers. The benefit is typically outsourced/ managed by an external vendor.
Meal Benefit – Prevalence and Eligibility
Eligibility
Prevalence
0%
10%
31%
69%
90%
Yes No All employees Role Related
162
Meal Benefit (2/3)
Meal Benefit – Plan details
Type of Benefit Meals provided in offices are:
Meals provided in the office premises 78% At a Subsidized Rate 65%
Sodexo Coupons/Other Coupons 47% Free of cost 29%
Meal allowance (Cash Allowance) 10% Full Charge 13%
Shifts in meal benefit is provided
19%
81%
All Shifts Specific Shifts
163
Meal Benefit (3/3)
Meal Benefit – Plan details
Types of meals include in the benefit Service
88%
21%
64%
58%
49%
79%
8%
Lunch Breakfast Evening Snacks Dinner Combination Outsourced Internally Provided
Annual Cost (in INR)

borne by the employer Amount
per employee per annum
P10 7900
P50 13,500
P90 75.000
164
Higher Education
165
Higher Education (1/4)
About the Policy
Higher Education is s an employee benefit in which an employer pays for a full-time / part time employee's educational expenses or provides tuition
reductions. Employees must be eligible and enrolled in the accredited institution as defined in the policy.
Higher Education – Prevalence and Eligibility
Prevalence Type of course
77%
23%
57%
77%
Part Time Full Time

Yes No
Part Time Full Time
166
Eligibility and availing percentage in the last financial year
Eligibility Criteria
66%
66% of the organisations provide higher education benefit
basis the tenure served, ranging from 1-3 years of Service
34% 32%
Basis Tenure Served Basis Function/ Role Basis Level/ Grade
Entitlements
Nearly 68% of the organisations have capped the payout

on the Total course fee. The capping limit ranges from INR
50,000 to INR 3,00,000.
32%
Availability of benefit is more prevalent in the middle
management, followed by junior management employees.
68% Reimbursement is most prevalent mode of funding across

all levels of management
Fixed Entitlement Capping at the Total course fee

167
Higher Education – Plan Details
Type of expenses covered - Prevalence Changes post completion of course
13% 9%
21%
16%
2%
Tuition Fees 98%
72%
70%
Lodging Fees 25% 75%
4%
Food 96%
Yes No
Increment Promotion
Increment at average rating

Duration of Course not considered
Increment at last rating
No Increment Duration of Course considered
No Promotion
168
Higher Education – Plan Details
Sabbatical Leaves - Prevalence Role enrichment associated with completion of

course
36%
44%
56%
64%
Yes No Same Enriched
Employee is paid his salary during the leave Claw back policy on resignation
period
7%
19%
40% 53%
81%
Yes No Any other (Fraction of Salary) Yes No

169
Loan
170
Loan (1/6)
Prevalence and Type of Loans
Prevalence
Housing Loan
41%
35%
59%
65%
Yes No All employees Grade Specific
Vehicle Loan Emergency Loan Personal Loan
27% 27% 33%
55% 9% 62%
64%
18%
5%
All employees Grade Specific Function Specific All employees Grade Specific Function Specific All employees Grade Specific Function Specific
171
Loan (2/6)
Types of Loans
Cash Advance / Salary Advance Other Loan
11%
7%
5% Other loans includes
marriage loan, education
loan, medical emergency
and furniture loans.
84% 93%
All employees Grade Specific Function Specific

All employees Grade Specific
Tenure of Repayment Minimum Service

Types of Loans Types of Loans
(Months) Criterion (Months)
Housing Loan 24 Housing Loan 18
Vehicle Loan 36 Vehicle Loan 12
Emergency Loan 10 Emergency Loan 12
Personal Loan 18 Personal Loan 12
Cash Advance 6 Cash Advance 12
Other Loan 11 Other Loan 12
172
Loan (3/6)
Types of Loans
Entitlement
Types of Loans
Fixed (Median INR) Linked to Comp (Basic Salary) Linked to Comp (Total Fixed Pay)
Housing Loan 18,00,000 6 months to 9 months 2 months to 12 months
Vehicle Loan 3,00,000 3 months to 6 months 2 months to 5 months
Emergency Loan 50,000 2 months to 6 months 1 month to 6 months
Personal Loan 1,00,000/1,50,000 3 months to 6 months 4 months to 6 months
Cash Advance 1,00,000 1 month to 3 months 1 month to 3 months
Other than emergency loan / cash advance, prevalence of this policy is seen to be declining.
173
Loan (4/6)
Interest subsidy scheme for loans
Types of Loans Interest Subsidy

Prevalence
Housing Loan 6%
Vehicle Loan 6%-8%
Emergency Loan 6%-7%
46% Personal Loan 8%
54% Cash Advance Interest Free loan
Types of Loans Utilization
Housing Loan 3%
Yes No
Vehicle Loan 7%
Emergency Loan 2%
Personal Loan 2%
Cash Advance 5%
Other Loan -
174
Loan (5/6)
Treatment of loan in case of resignation / retirement
Housing Loan Vehicle Loan
80%
64%
36% 40%
Immediate repayment Adjusted against terminal benefits Immediate repayment Adjusted against terminal benefits
(excluding excess over terminal benefits) (excluding excess over terminal benefits)
Emergency Loan
Personal Loan
83%
80%
50%
25%
Immediate repayment Adjusted against terminal benefits Immediate repayment Adjusted against terminal benefits
(excluding excess over terminal (excluding excess over terminal
benefits) benefits)
Terminal benefits refers to payout of gratuity, pension, leave encashment ,etc.

175
Loan (6/6)
Treatment of loan in case of resignation / retirement
Cash Advance Student loan repayment assistance?

3%
71%
97%
29%
Immediate repayment Adjusted against terminal benefits

(excluding excess over terminal benefits) Yes No
- Terminal benefits refers to payout of gratuity, pension, leave encashment ,etc.
- Student Loan Repayment refers to the Loan assistance provided by organizations to employees on pursuant of full-time courses.
176
Severance Benefit
177
Severance Benefit (1/4)
Severance Benefit – Prevalence
Prevalence Uniform application across all employees
23%
35%
65%
77%
Yes No Yes No
Commentary:
Basis at which the severance policy is differentiated
23% of the organisations have a formal severance
policy in place.
75% For most of the organisations (65%), severance
policy is uniform to all the employees
Tenure served acts as differentiation in case of non-

uniform policy across all the employees.
25%
Basis Tenure Served Basis Level/ Grade
178
Severance is triggered in the following situations
5% 6%
12% 23% 64% 60%
95% 94%
88%
77%
40%
36%
Employee is offered Voluntary Closure of company operations Closure of business unit Transfer of control, M&A Employee is terminated due to Severance is due to medical
retirement / redundancy non performance reasons
Provided Not Provided
Commentary:
Severance benefit is majorly triggered in case where employee is offered Voluntary retirement (95%), followed by closure of company operations (94%).
179
Treatment of the following benefits (if provided) on Separation
0% 0%
65%
88% 91% 88% 84% 90%
100% 100% 100%
35%
12% 9% 13% 16% 10% 0%
Notice Pay Leave Encashment Personal Accident Life Insurance Medical Insurance Company Car Coverted Employee Loans Company Leased Hard Furnishings
Insurance Coverage Coverage Coverage to Loan Transferred to Third Accommodation transferred
Party Extended
3%
44%
77% 77% 76% 69%
93% 97% 97% 97%
56%
23% 23% 24% 31%
7% 3% 3%
Post Retiral Medical Club Membership Credit Cards Transfer Laptops Transfer Phone Transfer Company SIM Transfer Variable Pay Provided Gratuity Payout Long Service Rewards
Continuation Transfer Provided
180
In case of severance, the following services are provided
40%
37%
11% 11%
Outplacement services provided Counselling services provided Financial Planning Assistance provided Relocation Support Provided
Methodology for Severance Payout calculated for employees : Duration for making the final settlement post the date of severance :
-32% organizations use Fixed Entitlement -55% of the organizations make the final settlement in 15-30 days
-26% organizations use tenure based without cap -32% of the organizations make the final settlement in 45 days or more
-21% organizations use tenure based with cap
181
Relocation Assistance
182
Relocation Assistance (1/5)
About the Policy

A Relocation policy aims at providing a comprehensive and consistent benefit that will be applicable for movement within India and globally for eligible internal transfers
and new hires. This typically includes relocation expenses like exploratory trip, temporary living, family travel, transportation of household and personal property,
automobiles and pets, and a relocation allowance, etc.
Prevalence – Relocation Assistance
Median Number of
Eligibility
4% Relocation Cases
12% Entry Level 12

10%
Junior Management 11
Yes All Employees
No Any Other Middle Management 7

Specific Grades
Senior Management 3
88%
86%
Top Management 4
183
Personal – Trip
Prevalence Class of Travel
Exploratory Trip 45%

41%
48% Yes
6% 6%
52% No 2%
Uniform class of travel Differentiated by grade Differentiated by Differentiated by Any Other

duration of journey distance travelled
Final Travel Trip
76%
65%
6%
Yes
No
8% 8%
4%
94%
Uniform class of travel Differentiated by grade Differentiated by Differentiated by Any Other
duration of journey distance travelled
184
Personal – Family Coverage
Exploratory Trip Final Trip
6%
24% 25%
Spouse & Children
Spouse & Children
Spouse
Spouse
3% Not Covered
Not Covered
3%
48% Spouse Children & Parents/In
Spouse Children & Parents/In
69% Laws
22% Laws
185
Shifting, Boarding and Lodging
Quantum (INR)
Shifting/ Transportation Expenses
(Prevalence = 86%)
P10 Med P90
-32% of the
Entry Level 6,800 23,250 60,000 organizations limit
the cost based on
Junior Management 10,020 25,000 60,000 freight / truck load
(1 truck load)
Middle Management 12,750 30,000 60,000
Senior Management 12,750 45,000 80,000
Top Management 17,000 45,000 100,000
Initial Boarding and Lodging
Initial Boarding and Lodging Median
21%
Temporary
Temporary Accommodation
14
Accommodation (Number of Days Provided)
Reimbursement in lieu
of temporary
Reimbursement Limit (per day) INR 2,500
accomdation
79%
186
Quantum (INR) 29%

School Admission
P10 Med P90 23% 23%
19%
Entry Level 12,250 25,000 55,000
Junior Management 15,250 27,500 95,000 6%

Non Refundable Refundable Books Uniform Regular Tuition
Development / Security Deposit Fee
Top Management 20,000 30,000 100,000 Donation Fees
One Time Relocation Quantum (INR)

33%
Allowance 31%
(Prevalence = 67%) P10 Med P90
22%
Entry Level 10,000 25,000 50,000
14%
Junior Management 13,500 25,000 56,000
Top Management 21,500 45,000 100,000 School Admissions Installing fixtures Brokerage expenses Deposits for services
and equipment's like cable, internet,
telephone
Other recurring Median

Prevalence Details
allowance provided Quantum (INR)
• Provided in addition to HRA

Yes 17% 37,750
• Provided only for projects
187
Communication Policy
188
Communication Policy (1/3)
About the Policy
Rapid progress in communication technology has greatly changed the way in which organizations view and offer various tools of connectivity to employees.
While the cost and availability of some of these tools like residential landlines and laptops restricted their usage to senior employees only in the past, many
companies have now begun to offer many more tools like mobile phones, data cards, and broadband facility at home etc. to a wider section of employees
to enable greater business efficiency.
Prevalence – Communication Policy
75%
65%
53%
49%
21%
8%
Laptops Mobile - Call Reimbursement Data Cards Mobile - Instrument Broadband Facility At Home Landline at Residence
189
Prevalence – Communication Policy
% of Organizations
Mode of Communication Specific Specific Need Details
All Levels
Functions Grade Based
• 4% organization provide a pre-defined laundry list of
Mobile - Instrument 20% 16% 40% 24%
instruments to employee
Mobile - Call Reimbursement 45% 13% 24% 18% • 2% organization provide uncapped reimbursement on actuals
Laptops 45% 11% 25% 20% • NA

• 3% organization do not provide company owned data cards,
Data Cards 24% 15% 23% 37%
and employees can reimburse the same on actuals
Landline at Residence 31% 0% 31% 38% • NA
Broadband Facility At Home 45% 3% 27% 24% • NA
Landline Connection Broadband at Home Data Card Services

Mobile Handset (INR) Mobile Service (INR)
(INR) (INR) (INR)
Monthly Rental Charges
P10 Med P90 P10 Med P90 P10 Med P90 P10 Med P90 P10 Med P90
Entry Level 4,200 8,000 20,000 320 750 1,120 - - - 435 900 1,150 570 800 1,360
Junior Management 7,000 12,000 20,000 400 800 1,500 - - - 585 1,000 1,630 570 800 1,360
Middle Management 9,400 15,000 40,000 600 1,000 3,000 - - - 800 1,000 1,500 660 800 1,540
Senior Management 10,000 22,500 47,000 600 1,500 4,640 - 2,250 - 800 1,063 1,950 660 900 1,540
Top Management 15,100 32,500 60,000 600 2,000 6,180 - 2,700 - 820 1,250 1,950 660 800 1,540
Replacement Period of Mobile Handset 2.25 years

190
Treatment of Mobile in case of:
Treatment in case of loss/damage of device

Treatment in case of Separation
15% Cost borne by

Pro Rated
25% Recovery employee
48% No Recovery 16% Claimed from
insurance company
Case to Case 69% Covered Under

27%
Recovery Insurance
Treatment of Laptop in case of:
Treatment in case of Separation Treatment in case of loss/damage of device
10%
2% Surrendered to the
organization
21% Cost borne by
employee
Retained by the
employee Claimed from
insurance company
22% 57%
Option of purchasing Covered Under
88%
it from the Insurance
organization
191
Employee Referral
192
Employee Referral
About the Policy
Employee referral programs are formal programs employers have instituted to encourage employees to refer candidates for jobs at the company. It
varies by role and level of management. It is typically paid out once the person referred has spent minimum of 3-6 months in the organization.
16% 9%
7%
All Employees
84% Specific Grades
22% Specific Functions
62%
Any Other
Yes No
Quantum (INR)
Level
P10 Med P90
Entry Level 4,850 10,000 30,125 Practices:
Junior Management 6,200 15,000 41,000 • 15% organization pay the referral amount after 3 months of joining
• 40% organization pay the referral amount after 6 months of joining
• 7% of the organization immediately pay the referral amount after joining with no claw-back if
Senior Management 10,000 35,000 75,000 the candidate leave the organization before probation is completed
• 45% organization pay the referral amount after probation period
Top Management 10,000 50,000 100,000 • 12% organization defer referral amount: 25% to 50% at the time of joining, pending amount
post confirmation 193
Differentiated Practices
194
About this Section

During the course of this survey we have identified some unique practices which are prevalent in the market and can be considered as differentiators.
We have listed a few such practices below.
Benefits Details
• 24 days of Paid Leave for any employee who has been diagnosed with CoVID
• Top 10 employees who have donated the most leaves to the company leave pool are provided with gift vouchers ranging from INR
2000 – INR10,000
Paid Time Off
• Gift a Leave policy : Employee can gift a leave to another employee during emergencies
• Special Medical leave for Women, upto 1 day per year
Retirement • For employees who are graded as top performers in the organisation the company contributes upto 5% of Basic to NPS
• Provide INR 50,000 for Covid related care on submission of CoVID test over and above insurance entitlement
• Inclusion of LGBTQ in medical insurance policy

Insurance
• Teleconsultation, OPD, Lab test cover upto INR 1500 per year for employees (over and above insurance entitlement)
• Life Insurance cover for Spouse
Car Policy • Company car is provided to all Sales employees ( as an employee welfare measure )
Health & Wellness • Employees are provided with 25 tele-consultations for self and family in a year
Professional Development • Tie up with educational websites (such as Udemy) for unlimited courses for their employees
Benefits Details
• Top Management are provided with Principle payment cover upto INR 5,00,000 for a Vehicle / House / Personal Loan (Where the
Loans
company pays a portion of the Principle amount on behalf of the employee)
• For relocation cases employees are provided with an additional hardship allowance due to Covid of INR 1,00,000 (over and
Relocation Benefits
above the relocation benefits they are entitled for)
• The company has tied up with multiple broadband internet providers to provide complimentary broadband connections to
Communication Policy
employee’s home.
• Furniture and Equipment Allowance for employees upto INR 20,000 (One time allowance)
Work from Home Policy • Nanny Allowance for employees who are working from home to help with child care, upto INR 5,000 (Per Month)
Maternity Related • Provide Adoption assistance : reimbursement of adoption agency fees upto 35K for 2 instances
• Career Break for Women : All women employees who choose return to work (upto 3 years of break) will be allowed to do so
Recruitment Policy
(subject to availability of role)
• Clubbing of entitlements for working couples in the same organisation

Other Benefits • Foreign Language Study : Employee gets an allowance of INR 10,000 for learning a foreign language
List of Participants
197
Participant Profile (1/11)
Name of Legal Entity Sector
3M India Ltd Manufacturing

AAM India Manufacturing Corporation Pvt. Ltd. Manufacturing
Aarti Industries Limited Manufacturing
ACG Associated Capsules Pvt. Ltd. Manufacturing
Adani Group Manufacturing
Aditya Birla Group Manufacturing
Aditya Birla Renewables Ltd. Manufacturing
Air Liquide India Manufacturing
Amazon Papyrus Chemicals Private Ltd. Manufacturing
Aptiv Components India Pvt Ltd Manufacturing
ArcelorMittal Nippon Steel India Ltd Manufacturing
Armacell India Pvt. Ltd. Manufacturing
Asahi India Glass Ltd. Manufacturing
Ashok Leyland Limited Manufacturing
Axalta Coating Systems India Private Limited Manufacturing
Baker Hughes Manufacturing
BEUMER India Private Limited Manufacturing
Bosch Limited Manufacturing
Carborundum universal (Murugappa Group) Manufacturing
Carborundum Universal Limited Manufacturing
198
Castrol India Limited Manufacturing

CEAT Ltd. Manufacturing
CG Power and Industrial Solutions Ltd Manufacturing
Continental India Pvt Ltd. Manufacturing
Dhanuka Manufacturing
Enel Green Power India Private Limited Manufacturing
Essel Propack Manufacturing
Faurecia Manufacturing
FCI OEN Connectors Ltd. Manufacturing
First Solar Inc Manufacturing
Force Motors Limited Manufacturing
Garware Technical Fibres Ltd Manufacturing
General Electric Manufacturing
General Electric Power Manufacturing
Givaudan (India) Pvt Ltd Manufacturing
GMR Group Manufacturing
Godrej Industries Manufacturing
Godrej Agrovet Manufacturing
Goodyear India Limited Manufacturing
Grindwell Norton Ltd Manufacturing
199
HIL Limited Manufacturing

Hindalco Industries Limited Manufacturing
Honda Cars India Manufacturing
Huntsman International India Pvt Ltd Manufacturing
IAC Group Manufacturing
Indian Additives Limited Manufacturing
Indian Oil-Adani Gas Pvt. Ltd. Manufacturing
JSW Manufacturing
Kalpataru Limited Manufacturing
Lubrizol Advanced Materials India Private Limited Manufacturing
Lubrizol India Private Limited Manufacturing
Mahindra Lifespace Developers Ltd Manufacturing
Nava Bharat Ventures Ltd. Manufacturing
Nayara Energy Manufacturing
ONGC Tripura Power Corporation Manufacturing
Reliance Infrastructure Limited Manufacturing
Roop Automotives Ltd Manufacturing
Savannah Seeds Pvt Ltd Manufacturing
Somic ZF Components Pvt. Ltd. Manufacturing
South Asia LPG Company Private Limited Manufacturing
200
Sterling & Wilson CoGen Pvt. LTd Manufacturing

Sterling & Wilson Powergen Pvt Ltd Manufacturing
Sterling & Wilson Pvt Ltd Manufacturing
Sterling & Wilson Solar Pvt Ltd Manufacturing
Sterling and Wilson Group Manufacturing
Sterlite Power Transmission Limited Manufacturing
Sundaram Clayton Limited Manufacturing
TATA Auto Comp Systems Ltd Manufacturing
Tata Power Delhi Distribution Limited Manufacturing
Tata Services Limited Manufacturing
Tata Steel Ltd Manufacturing
Toyota Kirloskar Auto Parts Manufacturing
TTK Prestige Ltd. Manufacturing
TVS Motor Company Limited Manufacturing
Ultratech Cement Ltd. Manufacturing
United Phosphorus Limited (UPL) Manufacturing
Volvo Group India Pvt Ltd Manufacturing
Weatherford Drilling & Production Services India Pvt. Ltd. Manufacturing
Allied Blenders & Distillers Pvt Ltd Consumer Products
B9 Beverages Pvt Ltd (Bira91) Consumer Products
201
Cargill Consumer Products

Diageo India (United Spirits Limited) Consumer Products
IPM India Wholesale Trading Pvt Ltd Consumer Products
Samsung India Electronics Limited Consumer Products
Aegon Life Insurance Company Limited Financial Services
Aviva Life Insurance Financial Services
Godrej Investment Advisors Pvt Ltd Financial Services
IDBI Federal Life Insurance Company Financial Services
Mirae Asset Investment Managers India Pvt Ltd Financial Services
MUFG Bank Ltd Financial Services
Reliance Life Insurance Financial Services
Star Union Dai-ichi Life Insurance Financial Services
Airseva India Private Limited IT/ITeS
Allstate Solutions Pvt Ltd IT/ITeS
Altran IT/ITeS
Amadeus Software Labs IT/ITeS
Amdocs Development Centre India LLP IT/ITeS
Arup India Pvt. Ltd. IT/ITeS
athenahealth Technology Pvt Ltd IT/ITeS
Atos Syntel Pvt.Ltd IT/ITeS
202
Bechtel India Pvt. Ltd. IT/ITeS

Birlasoft IT/ITeS
Bristlecone India Limited IT/ITeS
CDK Global (India) Private Limited IT/ITeS
Colgate GSS IT/ITeS
Conversant Software Development and Campaign Management Services LLP IT/ITeS
Crimsonlogic India Pvt Ltd IT/ITeS
Eastman Chemicals IT/ITeS
eClerx Services Ltd IT/ITeS
EXL Service IT/ITeS
FIL India Business and Research Services Private Limited IT/ITeS
Flipkart IT/ITeS
Genpact India Private Limited IT/ITeS
Hexaware Technologies Ltd IT/ITeS
Huawei Technologies India Pvt Ltd IT/ITeS
Infoedge IT/ITeS
Infosys ltd IT/ITeS
Inmobi Technology Services Private Limited IT/ITeS
Intercontinental Hotels Group IT/ITeS
JLL Business Service IT/ITeS
203
MakeMyTrip IT/ITeS
Mastek Ltd. IT/ITeS
Microsoft India IT/ITeS
Mindtree Ltd. IT/ITeS
Morning Star IT/ITeS
Mpahsis Ltd IT/ITeS
Natwest Group IT/ITeS
NXP India Pvt. Ltd. IT/ITeS
OpenText IT/ITeS
OYO Hotels and Homes Pvt Ltd IT/ITeS
Persistent Systems Limited IT/ITeS
PhonePe Private Ltd IT/ITeS
Publicis Sapient IT/ITeS
Quinnox Consultancy Services Limited IT/ITeS
R1 RCM Inc. IT/ITeS
Ramboll India Private Ltd IT/ITeS
ROHM Semiconductor India Pvt Ltd IT/ITeS
Societe Generale Global Solutions Centre Pvt Ltd IT/ITeS
Sterling Software Pvt.Ltd IT/ITeS
Sungard Availability Services India Pvt Ltd IT/ITeS
204
Tata Communications IT/ITeS

Tech Mahindra IT/ITeS
Times Internet IT/ITeS
TPG Software Pvt. Ltd. IT/ITeS
Trafigura Global Services Pvt Ltd IT/ITeS
Volvo Group India Pvt Ltd IT/ITeS
Wipro Ltd. IT/ITeS
WNS Global Services (P) Ltd IT/ITeS
WS Atkins India Pvt Ltd IT/ITeS
WSP Consultants India Private Limited IT/ITeS
Apotex India Pvt Ltd Life Sciences
Baxalta Bioscience India Pvt Ltd Life Sciences
Baxter India Life Sciences
Beckman Coulter India Pvt. Ltd. (Danaher India Development Center) Life Sciences
Biocon Life Sciences
Boehringer Ingelheim India Private Ltd. Life Sciences
Carestream Dental India Pvt. Ltd Life Sciences
Cepheid India Pvt Ltd Life Sciences
Cipla Limited Life Sciences
Covance India Pharmaceutical Services Private Limited Life Sciences
205
Eisai Pharmaceuticals India Private Limited Life Sciences

Emcure Pharmaceuticals Ltd Life Sciences
ICON Clinical Research India Private Limited Life Sciences
Jubilant Life Sciences Limited Life Sciences
Mylan Life Sciences
Nektar Therapeutics Life Sciences
Reliance Life Sciences Life Sciences
Solara Active Pharma Sciences Ltd Life Sciences
Strides Pharma Life Sciences
The Himalaya Drug Company Life Sciences
Wipro GE Healthcare Ltd. Life Sciences
Airseva India Private Limited Services
Allcargo Logistics Ltd Services
Apeejay Surrendra Management Services Pvt Ltd Services
Arup India Pvt. Ltd. Services
Bechtel India Pvt. Ltd. Services
Benetton India Pvt Ltd Services
BEUMER India Private Limited Services
Buro Happold Engineering India Private Limited Services
CB&I India Pvt. Ltd. Services
206
Central square foundation Services

Deloitte USI Services
Fluor Daniel India Pvt Ltd Services
GS Engineering & Construction Mumbai Pvt Ltd. Services
Huawei Technologies India Pvt Ltd Services
Infiniti Retail Ltd Services
Inmobi Technology Services Private Limited Services
Intercontinental Hotels Group Services
JLL India Services
Levi Strauss (India) Pvt Ltd Services
More Retail Services
OYO Hotels and Homes Pvt Ltd Services
Prione Business Services Private Limited Services
Ramboll India Private Ltd Services
Reach to Teach Private Limited Services
Serling & Wilson Services Pvt Ltd Services
Tata Communications Services
Tata Technologies Ltd. Services
Tata Trent Services
Teach To Lead Services
207
TechnipFMC – India Services

The Great Eastern Shipping Co. Ltd Services
Titan Company Ltd Services
Tractebel Engineering Private Limited Services
Wood Plc Services
WS Atkins India Pvt Ltd Services
WSP Consultants India Private Limited Services
208
Thank You.
For any queries reach out to:
inbenefits@deloitte.com
209
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2020 Benefits Study Results by Deloitte India - Final PDF

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2020 Benefits Study Results by Deloitte India - Final PDF

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2020 Benefits Survey by Deloitte India

1 About the Benefits Survey 3 10 Lifestyle & Wellness

7 Retirement 65 11.2 Higher Education 165

9.3 Sign on Bonus & Retention 123 13 List of Participants 197

Anandorup Ghose Neelesh Gupta Meghesh Nandi

CEO and Direct reports (n-1)

Includes Basic Salary & Dearness Allowance

Top 5 impacted policies due to CoVID-19 (As per participants)

Work From Home

Insurance Employee Wellness/Engagement

Leaves and Holidays

Short Term Incentives

• The immediate need for most organisation was to create / develop a

Benefit Entitlement Prevalence

Home Infrastructure (tables / chairs) –

Median INR 900 – 1,250 (Grade Wise

Furnishing Policy – Company owned Median INR 10,000 – 45,000 ( Grade

WFH Allowance (To meet the additional

• 48% of organisation extended Laptops to lower grades

15% and wellness initiatives at an

Digital Engagement of the Workforce

• 42% of Organisation have tied up with health / wellness aggregator platforms

• New initiatives such as conducting Manager sensitivity trainings to manage teams

Retirals (Gratitity, NPS)

• Increase in organisations conducting financial wellbeing sessions to spread

Employee Loans • Reduction in interest rates which are in

• Increase in prevalence only for personal

Increase in Employee Communication

Pandemic linked Benefits

• Outplacement : Increase in prevalence of outplacement services observed (40%

• Leave Donations : Introduction of leave donation / leave sacrifice program in 13% of

• Companies’ are looking at alternatives to reduce premium costs while ensuring

• Corporate annual buffer has increased

• Increase in parents coverage as

Prevalence of change in Policy due to COVID-19

Prevalence of timeline Prevalence of timeline

Gratuity 20% 13% 67% Car Policy 27% 14% 59%

Housing Assistance 21% 14% 64%

Club Membership 38% 5% 57%

Variable Pay 24% 16% 60%

Communication Policy 35% 9% 56% Relocation Benefits 24% 17% 59%

Policy COVID - 19 Impact

• 43% organizations introduced home quarantine coverage/ benefits

• 33% organizations increased voluntary top up for employees

Policy COVID - 19 Impact

• Death by Covid is covered under life insurance.

Accidental Insurance + Life

• Spouse Cover for life insurance

• Reduction in coverage provided by the benefit

• High actuarial liability focus on reducing costs by grandfathering / reducing benefit

Policy COVID - 19 Impact

• Few organizations introduced car loans for lower grades

• ESOPs was added by few organizations as part of severance package

Policy COVID - 19 Impact

Percentage of organization which indicate Prevalence

Sign on Bonus & Retention 20% 0% 80%

Accident & Life Insurance 43% 0% 57%

Variable Pay 46% 15% 38% Loans 30% 4% 67%

Sales Incentive 39% 16% 45% Severance Benefits 31% 3% 66%

Communication Policy 58% 0% 42% Relocation Benefits 36% 0% 64%

Amalgamate, Simplify and Rationalize the provisions of the subsumed legislations

Definitions provided in Chapter I – applicable across the code

Under the subsumed legislations /