May 22, 2013
Mr. Akshay Joshi(Emp #107797)
Sub: Anniversary Compensation Revision 2013
Dear Akshay,
As we step into FY 2014, we are on the verge of bringing Tech M
and MSat together. And synergize ourcapabilities as ONE
organization while making rapid strides towards Mission 2015 and
beyond with arenewed vigour and confidence. We acquired new logos,
won appreciation from our existing clients andwere acknowledged for
our capabilities by Customers, Analysts and our Alliance partners
alike.
This is also a year when the industry is having to reinvent
itself given the changing customerexpectations and market
conditions. It is our belief that the key differentiator will
continue to be our abilityto 'Accept No Limits' bring in
'Alternative Thinking', so as to 'Drive Positive Change'.
Thank you for conviction and commitment, that helped us to
RISE.
Based on your performance we are pleased to revise your 'India
Compensation' (TCC) to RS.327,161/-per annum (Refer Annexure 1 for
revised details).All the above mentioned changes will be effective
April 1, 2013.
Please note that the details of your salary are strictly private
and confidential and should not be disclosedto others. Your revised
salary will be automatically implemented in the next payroll cycle.
This letter wouldbe null and void if you are not on the payroll of
the company / serving notice period as on date ofdisbursement of
revised salary.
Let us together march towards making Mission-2015 a reality.
With Best Wishes,For Tech Mahindra Ltd.
Jagan Mohan ReddyGlobal Head - Compensation & Benefits
Annexure 1
Salary Structure with effect from April 1, 2013
Mr. Akshay Joshi (Emp #107797)Grade: TG1Designation: Technical
Associate
Details RevisedTotal Cost to Company (TCC - Rs. Per Annum)
327,161
Components Rs. Per AnnumBasic Pay 107,280House Rent Allowance
53,640Conveyance Allowance 9,600Personal Pay 57,562LTA
18,000Medical Reimbursement 15,000Provident Fund (12% of Basic Pay)
12,874Bonus/Statutory Bonus* 12,000Total Variable Pay** 31,773Total
317,729Gratuity*** 5,160Insurance Premiums (towards GTLC, GMIP and
GPAI) **** 4,272Total Cost to Company (TCC) 327,161*Bonus /
Statutory Bonus, if applicable, shall be paid in 12 equal monthly
installments in advance along with yourregular salary.
**Variable Pay shall be payable as per Variable Pay plan
applicable for the Financial Year. For details please refer tothe
Variable Pay Policy updated on BMS.
***As per Payment of Gratuity Act.
**** Insurance Premiums towards existing Group Term Life
Insurance cover providing Life Insurance Coverage,Group Personal
Accident Insurance coverage and Medical Insurance scheme providing
Hospitalization coverage interms of a floating cover.
With Best Wishes,For Tech Mahindra Ltd.
Jagan Mohan ReddyGlobal Head - Compensation & Benefits
