Date: 27-September-2019
Name: Deepali Nachiket Borate
Emp. Id: M12842
Grade: BAND 2
Designation:Senior Team Lead
Department: Operations
Location: Mumbai
Dear Deepali Nachiket Borate,
We are pleased to inform you that based on the recommendation of your Reporting Manager; your compensation has
been revised as per the annexure attached, with effect from 01 September 2019. All other terms & conditions will
remain the same.
As you are aware increments are a direct reflection of your performance & performance of the unit vis-a-vis the targets
set for the unit. Likewise, the compensation revision is also linked to your and the unit’s performance and is not an
indication of any future increments.
We take this opportunity to thank you for your association and support to Hexaware BPS. We hope you will continue
your commitment and contribute with renewed dedication for the growth and success of the organization.
The above information is for your perusal only and must be kept confidential.
Yours truly,
For HEXAWARE TECHNOLOGIES LTD.
Sanhita Ganguly
General Manager – Human Resources
Annexure: Revised Compensation
*This is a system generated letter
Confidential
Hexaware Technologies Ltd. - Compensation and Benefits Annexure
Name: Deepali Nachiket Borate Emp. Id.: M12842
Grade: BAND 2 W.e.f.: 01 September 2019
Designation: Senior Team Lead Location: Mumbai
Department: Operations Date: 27-September-2019
COMPONENTS
A: Monthly PM (INR) PA (INR)
1.1: Basic 16,203.00 194,436.00
1.2: HRA 14,582.00 174,984.00
1.3: F.S. Allowance 14,123.00 169,476.00
1.4: Food Coupons 3,000.00 36,000.00
Total (A) 47,908.00 574,896.00
B: Benefits PM (INR) PA (INR)
2.1: Provident Fund 1,800.00 21,600.00
2.2: GLIP & Mediclaim 250.00 3,000.00
2.3: ESIC 0.00 0.00
2.4: Bonus 0.00 0.00
Total (B) 2,050.00 24,600.00
C:Variable Component
3.1: Target Variable Pay 48,608.00
Total CTC (A+B+C) 49,958.00 648,104.00
Monthly Take Home Calculation
Monthly Components Variable Component Payout
Gross (Refer to Total [A] above) 47,908.00 Performance Rating Quarterly
Add : Bonus 0.00 Less than 1.5
Less : ESIC 0.00 1.5-2.49 7,291.00
Less : PF Contribution 1,800.00 2.5-3.49 9,722.00
Less : Profession Tax 200.00 3.5-4.49 12,152.00
Net Take Home 45,908.00 4.5- 5 14,582.00
Notes regarding components above:
2.1 The PF contribution from both individual & company has been limited to a maximum monthly basic amount of Rs.15000/-, which is
as per the PF Act. If you wish to increase this contribution to a greater amount than this, kindly approach the HR team for the same.
2.2 The company has taken a Group Life Insurance Policy and a Mediclaim Policy in case of any medical emergencies. A premium of
Rs.250/- per month is paid by the company and hence is provided as a benefit as shown in the above table. As per the policy, the coverage
limit under Mediclaim is Rs.1,50,000/- (Self+Spouse) & the coverage under GLIP is Rs. 12,00,000/-.
2.3 ESIC is calculated as per the ESIC Act 1948.
2.4 Bonus is payable as per Payment of Bonus Act 1965.
3.1 Variable Performance Allowance will be paid based on the ratings at the end of a quarter for Band 2. These ratings will be given for
your performance in line with the KRAs set through an appraisal. The amount will be paid in the month following the end of the period. In
case you exceed performance and get a rating of 4.5 and above, you will be entitled to make more than your Target Variable Pay as
mentioned above in the structure.
Additional Notes:
a)The above salary is subject to income tax deductions & is calculated based on the Statutory provisions prevailing at the time of issue of
this letter which may change from time to time as per Government rules and regulations.
b) Salary information is to be kept confidential and is governed by the Non-Disclosure and Confidentiality clause mentioned in your
appointment letter.
*This is a system generated letter Confidential
