COMPENSATION

1. Compensation Components 2. Pay Approach

The following elements would be considered as part of The COMPANY will follow a Total Cost to Company
Compensation structure: approach in designing a Compensation framework;
where in all elements of Compensation including non-
cash elements would be assigned a value. Such an
COMPONENT
approach will help in the following way:
1) Base salary
• Determine the actual cost incurred by the company
2) Personal Allowance
towards employees
• Attract the desired talent profile and retain high
3) House Rent Allowance performers
• Enable employees and the COMPANY to make
4) Transport Allowance comparisons on Total Compensation with the
external market
5) Medical Reimbursement • Provide for realistic comparison (when
benchmarking with the market) by attaching a
6) Leave Travel Assistance monetary value to various non-cash benefits
provided by other companies an
7) Retirals (Provident Fund and Gratuity)

8) Investment Allowance
3. Benefits and Perquisites
The primary role of benefits & perquisites will be:

• to reflect the culture of the organization; and

• to provide security and welfare to employees and
their families so that employees can devote their
energy to COMPANY business.

The criteria to determine Benefits & Perquisites will be-

• Competitiveness within general Engineering and

Construction industries; and companies known for
Best in Class Human Resources practices.
Benefits & perquisites will be standardized for each
level in the organisation. This would mean that all
people slotted to a particular level would get the
same benefits and perquisites. Further, Benefits &
Perquisites would also provide flexibility & asset
building opportunities.

1
 In order to facilitate this,
4. Organisational Hierarchy a) A brokerage up to a maximum limit of one month
rent (against receipt) will be reimbursed by the
The COMPANY will have 8 levels as mentioned below: company,

M1 MD / President b) For employees in M1 to M6 levels security

deposits, up to a maximum of ten months rent
M2 Chief “X” Officer (against receipt) will be given as an advance to the
M3 General Manager employee, recoverable into ten equated monthly
installments.
M4 Head of Function
c) For employees in M7 & M8, the entitlement for
M5 Manager security deposit will be upto Six months rent.
M6 Officer/Executive
An employee can avail of the brokerage facility, once
Sr. Associate / Sr. Detailer / Sr. in two years only and security deposit as one time
M7-A/B Designer / Sr. Engineer assistance.
Associate/
M8-A/B Detailer/Designer/Engineer Employees can change their accommodation, once in
two years (while brokerage will be paid, the security
deposit will not be borne by the company) in the same
location, unless otherwise transferred or deputed at
5. CTC Bands some other location.

The compensation structure will be broken-up in

various components to match the Cost to Company
figures as decided by the management from time to
time based on market benchmarks and internal
decided (as per annual compensation surveys) for
different managerial levels.
6. HOUSING
All employees will be eligible for a House Rent
Allowance, which will be part of the compensation
structure and included in the CTC (Cost to Company).
The company will not provide leased accommodation
to anyone. All employees will have to take their own
accommodation themselves on a personal lease.
7. Transport Allowance
All employees in levels M1 to M8 will be eligible for
Transport Allowance as per their level.
Detailed rules pertaining to Transport Allowances
will be notified by way of internal circulars.
8. Investment Allowance
All employees will be eligible for Investment Allowance
at the rate 15% of the Base Salary. This will form a
part of the monthly salary.