HRD / MCSL / 3536 / 21 18ᵗʰ September, 2021

BIJU D
VILAYIL VEEDU KESAVAPURAM
VELLALLOOR PO NAGAROOR,
TRIVANDRUM KERALA, INDIA- 695601
Letter of Appointment
Dear Biju D ,

With reference to the Offer Letter HRD / MCSL / 05348 / 21 dated 16ᵗʰ September, 2021 and subsequent acceptance from your end,
we are pleased to appoint you as Marketing Manager, wef 18ᵗʰ September, 2021 on the following terms and conditions: ,

Your Place of Posting will be at KOLLAM, KERALA.

During the course of the service, you shall be liable to be posted/ transferred anywhere to serve any of the Company's office/projects
or any other establishment in India or outside, at the sole discretion of the Management.

Your employment will be subject to the standard terms and conditions of employment of Muthoot Capital Services Ltd. (MCSL) and also
will be governed by various policies, rules and guidelines of MCSL in force from time to time (Refer Annexure 2). You will also be
guided by the core values and beliefs of MCSL.

Please note that you will also be required to sign and agree to be bound by the Confidentiality, the Employee Non-disclosure, Non-
solicitation and Non-Competition Agreement.

The gross compensation offered to you is 9,00,000 INR per annum, as per Annexure 1.

You will be covered under the ESIC/Mediclaim Policy as per the eligibility criteria and also the Group Personal Accident Insurance
Scheme of the Company.

By accepting this appointment, you will be deemed to confirm that:

i. You have terminated your employment with your current/previous employer in accordance with the terms and conditions of
the said employment.
ii. On joining our employment, there are no continuing obligations or restrictions which apply to you vis-à-vis any of your
previous employments.
iii. You are not restricted, prohibited or constrained from accepting this appointment from MCSL and that you have not, during
the course of previous employment/s entered into any agreement /arrangement which in any way restricts/prohibits or
debars you from accepting the appointment made by MCSL.
iv. That no amounts will be due and payable by you to your previous employer/s.
v. On joining our employment, that you do not have in your possession, nor have you failed to return, any property including
but not limited to any devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings,
blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items
belongings to your previous employer/s.
vi. you will not undertake any other business or work, direct or indirect, honorary or with remuneration except with the prior
written permission from the Management

You will be placed on probation for a period of 6 months. Your performance will be assessed and evaluated during the said period of
probation. Your services will be confirmed with the Company, in writing, strictly on the basis of your performance during the probation
period.

Yours faithfully,
For Muthoot Capital Services Ltd.

Mrs Mini Suresh

Associate Vice President - Human Resources

Muthoot Capital Services Ltd., Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi – 682035, Kerala, India. P:
+91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com
CIN: L67120KL1994PLC007726
 Annexure-I to Appointment Letter no: HRD / MCSL / 3536 / 21 dated - 18ᵗʰ September, 2021

SALARY BREAKUP:- Biju D ; Marketing Manager

Salary Breakup Per Month (in Rupees) Per Annum (in Rupees)

Basic Wages 36000 432000

AD 0 0

HRD 15000 180000

CCA 2000 24000

Overtime Wages 0 0

Arrears 0 0

N&FH Wages 0 0

Medical Allowances 1000 12000

Leave Wages 0 0

Bonus 0 0

Other Allowances 22980 275760

Total Earnings (A) 76980 923760

Deductions

ESI – Employer’s share (D) * 130 1560

EPF 1800 21600

Welfare Found 50 600

TDS 0 0

Profession Tax 0 0

Total Deductions (B) 1980 23760

Fixed CTC (A+B) 75000 9000000

For Muthoot Capital Services Ltd.

Mrs Mini Suresh

Associate Vice President - Human Resource

Muthoot Capital Services Ltd., Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi – 682035, Kerala, India. P:
+91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com
CIN: L67120KL1994PLC007726
Annexure 2

1. Gratuity: You will be entitled to payment of gratuity strictly as per rules under the Payment of Gratuity Act 1972.
2. Annual Bonus: Annual bonus will be paid as per the eligibility of Bonus Act 1965.
3. Tax: Tax implications arising out of this structure would be borne by you.
4. Background Verification

As per the Company policy and part of selection/joining formalities, all selected candidates have to undergo a thorough
background verification of personal and professional credentials and antecedents. The same may be done internally or
through an external agency.

In the event of a candidate permitted to join duties before completion of the background verification, the appointment is purely
on a temporary basis till when back ground verification is completed and positive report is being received, with no rights of
claim to continuation in employment and attendant benefits. In the event of the verification leading to a negative report your
services are terminable with immediate effect.

Even if you obtain an initial positive Verification report and later on negative reports are received, the Management reserves
the right to terminate your services forthwith, without notice any time during your employment.

5. Posting /Transfer
Your initial place of posting would KAYAMKULAM, KERALA; however; the Management reserves the right to transfer you to
any other location where the company or its Group Companies / entities (“Muthoot Pappachan Group”) have office/branches
or newly established office or any other locations as per the requirement of the business. Your services are transferable at
short notice, to any department or your services may be seconded to any other Group Companies or any other place where
work of the Group is carried out, as may be necessary. In the event of transfer, the terms and conditions of employment
outlined herein shall continue to apply along with any modifications thereof as may be applicable. However, you shall be
required to adhere to the rules and regulations as prevalent at the new place of posting.

6. Leave
Leave is not a matter of right. It has to be applied for, in advance, and got the same sanctioned before you avail. You will be
eligible for casual leave, sick leave and privilege leave, as per the rules of the Company. In the case of privilege leave, though
you start earning from the date of probation, you will become eligible to avail it only after confirmation and on completion of 12
months of continuous service from the date of probation.

7. Increments and Promotions

Your growth in the organization through promotions and salary increments will depend solely on your performance and
contributions to the company, as determined by the management through periodic performance appraisals.

8. Working Hours
The normal working hours are from 9.30 am to 5.30 pm. Monday to Saturday. Sundays are holidays. The company reserves
the right to alter or modify its working hours or holidays temporarily or permanently.

9. Dress Code
Dress Code as indicated below shall be followed by all employees of Muthoot Capital Services Limited while at office:

MONDAY - THURSDAY

Male employees
Plain Trousers with formal light collared shirt with full or half-sleeves (neatly tucked in) and neck tie.
Well-polished formal shoes.
Shall always be well and perfectly groomed (neat, clean and well laundered dress, proper haircut and face neatly shaven
or beards well-trimmed).
No accessories other than the wedding ring, a chain and wrist watch. Neck tie is
mandatory during the office hours in the office.

Muthoot Capital Services Ltd., Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi – 682035, Kerala, India. P:
+91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com
CIN: L67120KL1994PLC007726
 Female employees

a. Sari & Blouse, Formal Salwar and Kameez with Shawl (pinned), White or Light colored Shirt and Dark colored
Trousers
b. Minimum ornaments and accessories, one ring, one simple chain (mangalsutra or other symbols of marital status)
and one or two simple bangles and wrist watch.
c. Shall always be well and perfectly groomed (neat, clean and well laundered dress and proper hairdo put up or
fully clipped in the back).
d. Non-provocative dress which shall not be too short, tight or transparent.
e. No flowers and other decorative stuff on hair.

FRIDAYS

Male employees
1. Neck tie is not compulsory.
2. Sleeves could be rolled up in an orderly manner if using full sleeve shirt.

Female employees
Same as dress code applicable from Monday to Thursday

SATURDAYS (Casual wear)

Male employees
1. Shirt (full sleeves or half sleeves) or T-shirt with collar and sleeves (round neck and/or sleeveless not allowed).
2. Those issued with Company T-shirts should wear them compulsorily on Saturdays.
3. If wearing shirt, neck tie not compulsory.
4. Pants can be casual. Jeans also permitted.

Female employees
1. The dress prescribed under the normal dress code or T-shirts and pants or any proper dress of informal/casual
nature.
2. Sleeveless tops as well as bottoms not reaching the ankle not permitted.
3. Those issued with Company T-shirts should wear them compulsorily on Saturdays.

10. Duties and Responsibilities

You will require to serve in the assigned position or in such other capacities, consistent with your status and position in the
company, as may be requested from time to time by the company.

11. Training

You may also be selected or sponsored by the company for receiving training with the company’s associates or other
institutions. You will diligently and beneficially take part in such trainings and assignments.

12. Resignation/Separation
 You will automatically retire from the service of the Company on attaining the superannuation age of 58 years.

If you absent yourself without intimation/sanctioned leave or remain absent beyond the period originally granted or
subsequently extended, you shall be considered as having voluntarily abandoned your employment without giving any notice
unless you resume your duties within 8 days from the commencement of such absence and provide explanation to the
satisfaction of the Company for such absence.

Muthoot Capital Services Ltd., Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi – 682035, Kerala, India. P:
+91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcapital.com, www.muthootcap.com
CIN: L67120KL1994PLC007726

Your services are liable to be terminated without any notice or salary in lieu thereof in case of misconduct, including loss of
confidence, arising out of misconduct, disloyalty commission of an act involving moral turpitude and act of indiscipline,
inefficiency or poor performance levels.

Separation during Probation: During probation period you may resign from MCSL’s services subject to acceptance by your
supervisor for which you will be mandatorily required to serve a notice period of 30 days’ notice. However, waiver of notice
period will be at the discretion of MCSL. In such event basic salary equivalent of the notice period shortfall (if any) will be
recovered from the employee.

On account of Termination: During the probation period the contract of employment is terminable by MCSL by way of giving
notice of 15 days or on payment of salary in lieu thereof without assigning any reasons.

Separation after confirmation: On account of resignation after confirmation you may resign from the services subject to
acceptance of your resignation by the supervisor, for which you will be required to serve mandatorily a notice period of 30
Days’ notice. However, waiver of notice period will be at the discretion of MCSL. In such event basic salary equivalent of the
notice period shortfall (if any) will be recovered from the employee.

On account of termination: Notwithstanding what is provided in the company policies and the above paragraphs your services
after confirmation may be terminated by MCSL by giving 30 Days’ notice or payment of 30 days salary in lieu thereof without
assigning any reasons.

No notice of resignation will be effective if it is given during the leave period and you will not be entitled to proceed on leave
during the notice period.

13. Termination on Disciplinary / Performance issues

At the sole discretion of the Management, your services are liable to be terminated without any notice or salary in lieu thereof
in the event of non – performance, negligence in work, absenteeism, producing wrong / forged credentials / declaration to
obtain employment with the Group or in the event of your involvement in any serious misconduct, misdemeanor, wrong
credentials produced at the time of employment or any offence that may or may not be directly connected with the business of
the Group. Upon the termination of your employment, you will return to the Group all documents and other accessories and
assets given to you to discharge your duty.

Handover of duties and responsibilities

At the time of separation, you are required to handover your duties and responsibilities to whom the reporting authority directs and
the detailed handover note needs to be signed by appropriate authority. If you fail to do so, the Management reserves the right not to
relieve you from the services of the Group and withhold the salary for applicable period.

Further, in the event the employee is involved in any fraudulent or other activities (whether intentional or not) which has caused loss
to the Company, then the employee shall make good such loss incurred by the Company or two months’ salary, whichever is higher,
on or before the last day of his / her service, failing which his / her full and final settlement will be withheld.

15. Consequences of Resignation/Separation:

On separation with the company, for whatever reason, you will return to the company:

i. Any item belonging to the company such as Laptop computer with all software and data therein, with details of any
passwords which you may have installed.
ii. Every company document (including electronic document) of whatever description in your possession or control,
together with any copies, notes or summaries of such documents and you own working papers, for all of which
your undertake to make a diligent search.
 iii. Any other company property in your possession or control
iv. Immediately repay all outstanding debts and loans due to the company and the company is hereby authorized to
deduct from any monies due to the employee a sum in repayment of all or any part of any such debts or loans ;
and
v. Strictly comply with all continuing obligations including obligations of confidentiality, non-disclosure and
noncompetition

Muthoot Capital Services Ltd., Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi – 682035, Kerala, India. P:
+91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com
CIN: L67120KL1994PLC007726

16. Address & Other Details

You shall advise the company of the address to which communications to you should be sent by post. All notices and other
communication sent to you at such address shall be deemed to have been properly sent by us and received by you. You shall
keep the company informed of the changes, if any, in respect of your address and also of any change in your civil or marital
status and other such matters. Your address / status shall be as last advised by you to the company in writing.

17. Disciplinary Procedures and the company Policies

In addition to the terms specified herein, you shall be liable for disciplinary action including warning, deduction from
remuneration, suspension, demotion, denial of promotion and/or increment, discharge, dismissal etc. for acts and omissions
constituting misconduct and violation of the code of behaviour in accordance with the policy of the company. The said policy
shall be treated as part and parcel of this agreement. The company may amend/ alter the said policies at its sole discretion.

Pending disciplinary action, you may be suspended from service.

18. Confidential Information

You acknowledge that the business of the Group is highly competitive and that any information concerning the Group’s
business (including but not limited to strategies, methods, process, books, records and documents, products, client list,
business plan and credit and financial data, employee’s salary, Group’s rules and regulations) all comprise confidential
business information and trade secrets, vital to the business of the Group.

You hereby agree that you will not, at any time during or after your employment with the Group, make any unauthorized
disclosure of any confidential business information or trade secrets of the Group, or make any use thereof, except for the
benefit

of and on behalf of, the Group. For the purpose of this paragraph, the term “Group” shall also include all affiliates / clients of
the Group.

Any disclosure which has not been expressly authorized by the Group shall be called ‘unauthorized disclosure’. For the
purpose of this paragraph, the term “Group” shall also include all affiliates/ clients of the Group.

Unauthorized Disclosure and use of confidential information constitutes a serious misconduct and the Management shall be
entitled to take appropriate disciplinary action against you including termination of service. Disclosure and use of confidential
information of the Group after the termination of your relationship with the Group shall entitle the Group to initiate appropriate
legal proceedings. Where disclosure of confidential information is made by you in observance of order of a competent court or
may be required to be made under any applicable law you shall inform the Management either before or immediately
thereafter the nature and extent of disclosures made and circumstances under which those disclosures were required to be
made by you.

It is hereby reiterated that the said Confidentiality Clause shall survive despite the cessation of employment with the company.
In such circumstances you are also mandated to delete all application / software / data on your handheld device. In the event
of a Data breach/confidentiality clause violation which is attributable to you, the company has the authority to initiate
necessary legal action and recover the damages from you in this regard without any further reference.
20. Intellectual Property
All works developed by you during the course of your employment with the Group, shall belong exclusively to the Group and
you hereby assign the ownership of copyrights of such works and any other derivative works thereof, to the Group. You will
promptly provide to the Group a complete written disclosure for each such work identifying the features or concepts you or the
Management believes to be new or different. You grant to the Group an irrevocable, nonexclusive, worldwide, perpetual, paid-
up license under these works. The license scope is to make, have made, use, have used, sell, license or transfer items of
such works and to practice and have practiced methods pertaining to such works. You are specifically made aware that you
will not be liable to any compensation for such acts of yours, and that any rewards which the Group may choose to bestow will
not be deemed to confer any rights towards that invention, discovery or improvement in system or method, for you.

Muthoot Capital Services Ltd., Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi – 682035, Kerala, India. P:
+91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com
CIN: L67120KL1994PLC007726

21. Indemnity
You shall indemnify the Group against any loss, damage, proceeding which the Group might suffer due to any wrongful or mal
fide acts, negligence, negligence and / or gross dereliction of duties on your part. Such indemnity shall not prejudice the right
of the Management to terminate your services on such count or the right of the Management to seek other remedies which
the Group may have, to make good the loss, damage.

22. Documents to be furnished

The following documents are required to be produced as mentioned below.

i. Proof of Academic Qualification (Class 10th Equivalent and above pass certificates)
ii. PAN Card
iii. Latest 3 months Payslip
iv. Experience certificates from Previous Employers
v. Aadhar Card
vi. Address Proof (Aadhar/Passport/Electoral card
vii. Passport size colour photographs
viii. Relieving letter from the most recent employer.
ix. Police Verification Certificate (Original);
x. Medical Fitness certificate from a practising competent Medical Officer in Government Service or a reputed hospital in
the private sector.
xi. SBI/ICICI – Bank A/C Passbook copy OR Cancelled Cheque Leaf

You are required to submit the originals and the self-attested copies of all the documents mentioned herein above on the date
of joining Muthoot Capital Services Ltd. The originals will be returned after verification.

Since Aadhar is mandatory for all PF related matters like PF contribution deposit/transfer/loan/settlement of PF account,
candidate to provide the copy of the genuine Aadhar along with other document. If the candidate fails to submit the above
required document on joining, salary will be kept on hold

You will be covered by the service rules and regulations including conduct, discipline and administrative orders and any such
other rules or orders of the Company that may come in force from time to time. Any disputes arising out of this contract would
be settled in the court of law under Ernakulam jurisdiction only.

The Management firmly believes that there shall be total commitment from your side towards discharging all functions
assigned to you and that you shall strive and achieve all the goals and objectives set by the Company to the fullest
satisfaction during the probation period and thereafter during the tenure of employment.

While welcoming you to the Muthoot Pappachan Family, we firmly believe that you will excel in your assignments
and endeavours. We also believe that you shall strive for personal and team work contributions, which will enable to
make Muthoot Pappachan Group a success story.
Muthoot Capital Services Ltd., Registered Office: 3rd Floor, Muthoot Towers, M.G. Road, Kochi – 682035, Kerala, India. P:
+91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com
CIN: L67120KL1994PLC007726