Al ENGINEERING SERVICES LIMITED (PERSONNEL DEPARTMENT) Ref. No. : AIESLICHRO/2023/ 4 5. Date: 31-08-2023 Sub: TO IMPLEMENT FINANCIAL BENEFIT FROM THE EFFECTIVE DATE OF PROMOTION The "Economy Measure" imposed was subsequently ratified by the board of AIESL and notified vide order dated 23.07.2020. This decision was taken due to Aviation sector coming to grinding halt during the corona pandemic & reducing revenues of Aviation companies. The Cash-flow situation in AIESL was also severely compromised 2. Due to this, the financial benefits arising out of the promotions are given from the date of taking charge on the higher promotion and hence, the financial losses have occurred to the employees when it was due to them. It has also been observed that Time Bound Promotion's Orders normally gets delayed due to administrative reasons or some other unforeseen circumstances 3. As there is good improvement in the aviation sector resulting in good revenue generation for the company, stable cash inflow, timely settlement of bills by customers, we may now consider withdrawal of the economic cut on pay and allowances for the employees. 4, Considering above, all the Time Bound Promotion Orders shall be effective from the due date of promotion. However, as far as the Financial Benefits are concerned, they will be effective from due date of promotion or 01.04.2023 whichever is later. 5. Further, no request will be entertained from the employees of AIESL for the financial benefits prior to implemented effective date ie 01.04.2023. (C2022 % Aid coat CHIEF HR OFFICER: Ce:- CEO, AIESL ALL ED'S AIESL CFO, AIESL ALL GM'S AIESL ALL HR HEADS ALL NOTICE BOARDS.