NABARD FINANCIAL SERVICES LIMITED [Subsidiary of National Bank for Agriculture and Rural Development] Ref. No, NABFINS/2016-17/03 Date:24-8-2016 OFFICE ORDER Subject: Payment of variable pay ( monthly incentives) to new joiners Tt has been decided that the payment of performance based incentive for the first quarter in respect ‘of new joiners will be paid at the rate of 15% of their monthly gross salary and half of which will be paid with monthly salary as variable pay. However, this payment is subject to the terms and conditions of payment of incentive already framed by the Company. Incentive is not payable under the following conditions: 1._ Staff who have not completed minimum of 180 days of continuous service as on 31" March of the relevant year. 2. Employee takes more than 15 days of leave on loss of pay cumulatively during the financial year other than on medical grounds. 3. Employee under disciplinary proceedings or against whom action is contemplated. If at the end of the year, an employee is not eligible for incentive as per the above conditions, the ‘amount paid as monthly variable pay during the year will be recovered, (Os GENERAL MANAGER No.3072, 14% Cross, KR. Road , BSK Il Stage, Bangalore 560 070 E-mail: ho@nabfins.org; Fax: 080 26563442 Telephones: 26563443, 26574222 www nabfins.org