Bajaj Allianz Recuritment Report

8/13/2019 Bajaj Allianz Recuritment Report

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A

SUMMER TRAINING

REPORT

On

RECRUITMENTRECRUITMENT

ATAT

BAJAJ ALLIANZ LIFE INSURANCE COMPANYBAJAJ ALLIANZ LIFE INSURANCE COMPANY

Submitted For the Partial Fulfillment towards the Award of the

Degree in Master Administration of G.B. Technical Uni ersit!"

#uc$now

Submitted to Submitted ByMr. Amit Gu t! S"i#!$i Gu t!%OD MBA De&artment MBA ' nd semester

(oll no )'*+,*-)-'


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DR. OM PRAKASH GUPTA INSTITUTE OFMANAGEMENT & TECHNOLOGY,

FARRUKHABAD


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ACKNOWLEDGEMENT

At the outset" wish to e/&ress m! sincere

gratitude to Mr. 0handrase$har" 1onal Manager of

%uman (esource De&artment" BA2A2 A## A31

# F4 3SU(A304 0OMPA35 #uc$now" for

gi ing me an o&&ortunit! to undergo summerinternshi& at BA2A2 A## A31 # F4

3SU(A304 0OMPA35. Mr. 0handrase$har6s

constant encouragement and guidance was the $e!

moti ating factor in doing and com&leting this

&ro7ect.

would li$e to e/&ress m! &rofound a&&reciation to m! guides

Mr. Amit Gu t! for hel&ing me com&lete m! research re&ort

successfull! in all res&ect. The! deser e a s&ecial than$s for their

guidance and suggestions on sub7ect matter with" whom e/&lored

ideations" organi8ation re9uirements and de elo&ment of m! &ro7ect.

Finall! m! than$s to all of the team members of BA2A2 A## A31 # F4

3SU(A304 0OMPA35" #uc$ now" and m! famil! and friends who

hel&ed me directl! or indirectl! in com&leting m! research &ro7ect .


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PREFACE

Peo&le are a com&an!6s most im&ortant assets. The! can ma$e or brea$

the fortunes of a business. n toda!6s highl! com&etiti e business

en ironment &lacing the right &eo&le in the right &osition is er! critical

for the success of an! organi8ation.

The recruitment and selection decision is of &rime im&ortance as

it is the ehicle for obtaining the best &ossible &erson Selection &rocedure ensures

that these criteria are addressed

n this &ro7ect ha e studied (ecruitment and Selection &rocess of Ba7a7

Allian8 #ife nsurance 0om&an! and attem&ted to &ro ide some wa!s so

as to ma$e recruitment more effecti e and to reduce the cost of hiring an

em&lo!ee.

am &ri ileged to be one of the students who got an o&&ortunit! to do m!

training with Ba7a7 Allian8 #ife nsurance 0om&an!. M! in ol ement in

the &ro7ect has been er! challenging and has &ro ided me a &latform to

le erage m! &otential in the most constructi e wa!.

Ba7a7 Allian8 #ife nsurance 0om&an! is one of ndia=s leading financial

institutions offering com&lete financial solutions that encom&ass e er!

s&here of life. n a short s&an of time" BA# 0 has set an e/am&le b!

ha ing a stead! and confident 7ourne! to growth an


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CONTE%T

S.N

O

TOPIC PAGE NO

1 List of Table and Graphs 1

2 Exec ti!e S ""ar# 2$%

% Introd ction of the Ins rance Ind str# &$1'

& Co"pan# Profile 11$2(

) Co"pan# *ac+,ro nd 2-$%&

/inancial 0eport %)$%-

( Prod ct 0an,e &&$&

- Pro ect Profile &($&-

0ecr it"ent3Process 4 5ethod6 & $)-

1' 5ethodolo,# ) $

11 Anal#sis ($((

12 S7OT Anal#sis (-$-

1% /indin, -'$-2

1& Concl sion -%$-&

1) 0eco""endation 4 S ,,estion -)$--

1 8 estionnaire 4 Anal#sis of s r!e# - $ )

1( *iblio,raph# 1''

LIST OF TABLES AN& GRAP'


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TOPIC PAGE NO

Prod ct 0an,e Table $ % $%

*a a Allian9 :istrib tion Net;or+ $ &2

Internal Gradin, Str ct re $ &%

/lo; Chart $ &

Generic O!er!ie; Chart $ )'

/actor Affectin, 0ecr it"ent $ )2

Pie Chart $ )($)-

Anal#sis P#ra"id $ 1

Location Chart $ %

Ind str# Pie chart $ &

Or,ani9ation Pie chart $ )

Experience


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E%ECUTI(E SUMMARY

n toda!6s ra&idl! changing business en ironment" organi8ations ha e to

res&ond 9uic$l! to re9uirements for &eo&le. The Financial mar$et has

been witnessing growth which is manifold for last few !ears. Man!

&ri ate &la!ers ha e entered the econom! thereb! increasing the le el of

com&etition. n the com&etiti e scenario it has become a challenge for

each com&an! to ado&t &ractices that would hel& the organi8ation stand

out in the mar$et. The com&etiti eness of a com&an! of an organi8ationis measured through the 9ualit! of &roducts and ser ices offered to

customers that are uni9ue from others. Thus the best ser ices offered to

the consumers are result of the genius brains wor$ing behind them.

%uman (esource in this regard has become an im&ortant function in an!

organi8ation. All &ractices of mar$eting and finances can be easil!

emulated but the ca&abilit!" the s$ills and talent of a &erson cannot beemulated. %ence" it is im&ortant to ha e a well


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&!t! U)ed

There were mainl! two sources of data collection

C Primar! data

C Personal inter iew with candidates

C n de&th con ersation with the &lacement agenc!

C Secondar! data

C Stud! of recruitment &olic!

C Eebsites

(esearch methodolog! used

Stud! of recruitment and selection at Ba7a7 Allin8#ife nsurance b!

the manual &ro ided b! the %( de&artment

Eeb sites

2ournals

Boo$s

Findings

(ecruitment is done throughout the !ear more during the months of

Ma!


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Thus the whole research would be done under the guidance of e/ternalguide. t will also in ol e recruitment and selection &rocesses" readingthe material &ro ide internall! b! the organi8ation

I$trodu*tio$ o+ t"e I$)ur!$*e

I$du)try

O#er#ie,

The stor! of insurance is &robabl! as old as the stor! of man$ind. The

same instinct that &rom&ts modern businessmen toda! to secure

themsel es against loss and disaster e/isted in &rimiti e men also. The!

too sought to a ert the e il conse9uences of fire and flood and loss of life

and were willing to ma$e some sort of sacrifice in order to achie e

securit!. Though the conce&t of insurance is largel! a de elo&ment of the

recent &ast" &articularl! after the industrial era @ &ast few centuries @ !etits beginnings date bac$ almost ?--- !ears.

The first two decades of the twentieth centur! saw lot of growth in

insurance business. From ;; com&anies with total business


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) ) Oriental #ife nsurance 0om&an!" the first life insurance com&an!

on ndian soil started functioning.

) *- Bomba! Mutual #ife Assurance Societ!" the first ndian life

insurance com&an! started its business.

),)' The ndian #ife Assurance 0om&anies Act enacted as the first

statute to regulate the life insurance business.

),' The ndian nsurance 0om&anies Act enacted to enable the

go ernment to collect statistical information about both life and non


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foreign &la!ers to enter the mar$et with some limits on direct foreign

ownershi&.

And dee&ening of insurance in ndia and this ma! also includerestructuring and re itali8ing of the &ublic sector com&anies. n the The

o&ening u& of the sector is li$el! to lead to greater s&read &ri ate sector

); life insurance and general insurance com&anies ha e been

registered. A host of &ri ate nsurance com&anies o&erating in both life

and non


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E#o-utio$ o+ I$)ur!$*e

n the da!s of !ore insurance was in its crude form and was

coo&erati e and oluntar! in nature. Ehen" where and how it originated

is still a matter of research in one wa! or the other was &re alent in olden

da!s. Ee can trace its histor! from the e olution societ! from hunting

stage to the modern industrial age. A word I5AG0%%4MJ occurs in the

world6s most ancient %indu Scri&ture (ig Keda.

The word I5AG0%%4MJ means insurance. t clearl! indicated

that about four thousand !ears ago insurance was &re alent in its crudeform. t was coo&erati e and oluntar! in nature. Peo&le formed different

grou&s of organi8ations to share the loss among themsel es incase of a

&articular ris$. 4ach member contributed some amount to a common

fund to meet the unforeseen losses. Sometimes the! also contributed

e9uall! to com&ensate &erson as and when he suffered a loss. Traces of


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insurance in the ancient world are also found in the form of marino trade

loans or carriers contracts which included an element of insurance.

4 idence is on records that arrangements embod!ing the idea of

insurance were made in Bab!lonia and ndia at 9uite an earl! &eriod.

(eferences were made to the conce&t of insurance in Manu6s code

IManu Smrit!J. t was a$in to I5aga$shemoJ of (ig eda in which the

well being and securit! of the communit! was aimed at. %owe er" there

is no e idence that insurance in its &resent farm was &racticed &rior to

twelfth centur!.

N!ture o+ I$)ur!$*e

The insurance has the following characteristics which are obser ed

in cases of life" marine" fire and general insurance.

. Sharing of ris$s nsurance is a coo&erati e de ice to share the

financial losses which might befall on an indi idual or his facilit!

on the occurrence of s&ecified e ent such as sudden death of the

bread winner" marine &erils in marine insurance" fire in the fire

insurance and theft insurance etc. in the case of general insurance.

/. 0oo&erati e de ice A large number of &ersons agree to share the

loss arising sue to a &articular ris$. Thus" insurance is a

coo&erati e de ice.


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0. Kalue of ris$ The ris$ is e aluated before insuring to charge the

amount of share called &remium.

1. Pa!ment made at contingenc! The &a!ment is made at a certain

contingenc! insured. The 0ontingenc! ma! be death" fire" marine

&erils etc.

2. Amount of &a!ment The amount of &a!ment de&ends u&on &olic!

insured.

Fu$*tio$) o+ I$)ur!$*eA3Prim!ry Fu$*tio$) 4

)H nsurance &ro ides certaint! nsurance &ro ides certaint! of

&a!ments at the uncertaint! of losses. The element of

uncertaint! is reduced b! better &lanning and administration.

'H nsurance &ro ides &rotection The ris$ will occur or not"

when will occur and how much loss will be there. There are

uncertainties of ha&&ening of time and amount of losses.

The main function of the insurance is to &ro ide &rotection

against the losses.

:H (is$ sharing (is$ is uncertain and therefore" the loss arising

from the ris$ is also uncertain. All business concern faces

the &roblem of the ris$ and if the concern is big enough thehandling of ris$ becomes a s&eciali8ed function. nsurance"

as a de ice is the outcome of the e/istence of arious ris$s

in our da! to da! life. t s&reads the whole losses o er a

large number of &ersons who are e/&osed b! a &articular

ris$.


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B3 Se*o$d!ry Fu$*tio$) 4

)H Pre ention of loss Pre ention is alwa!s better than cure.

Pre ention is b! far the best solution to the &roblem of ris$.

t is more effecti e and chea&est method to a oid the

unfortunate conse9uence. But sometimes &re ention is not

alwa!s &ossible and 4ffecti e.

'H Pro ides ca&ital t &ro ides the ca&ital to the societ!. For

&lan de elo&ment of countr! there is a great need for huge

amount of ca&ital. 3ow da!s" the insurance com&anies are

rendering &ositi e hel& in the de elo&ment of trade"

commerce and industr! of the countr!.

Im ro#e) e++i*ie$*y Achie ement of goals" it im&ro es not onl! his

efficienc! of the masses is also ad anced. The insurance eliminates

worries and miseries of losses as death and destruction of &ro&ert! care

free &erson can de ote his energies for better.

:H 4nsures the welfare of societ! I nsurance is a saga of

ser ice and securit!J to thee societ!. Securit! of the life and

&ro&ert! gi en b! insurance bring &eace of mind to the

insured. The in estment in # 0 in welfare schemes li$e

electricit!" housing" water su&&l!" agro industr! estates areable to sol e man! &roblems in ndia.

;H %el&s in economic &rogress nsurance &ro ides an initiati e

to wor$ hard for the betterment of the masses. #ife insurance

in ol es the element of sa ing in estment through small

sa ings. And which has been growing in recent !ears at an

annual rate of about (s. ;-- crs. #ife insurance is not a mere


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business organi8ation it has nobler welfare res&onsibilities

in the de elo&ment of the eco

M!5or I$)ur!$*e P-!yer)

#icenses ha e been issued for the following com&anies

C 0 0 Prudential #ife nsurance #imited

C 0 0 Prudential #ife nsurance 0om&an! #imited

C %DF0 Standard #ife nsurance 0om&an! #imited


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C Birla Sun #ife nsurance 0om&an! #imited

C TATA A G #ife nsurance 0om&an! #imited

C Ma/ 3ew 5or$ #ife nsurance 0om&an! #imited

C SB @ 0ardiff #ife nsurance 0om&an! #imited

C 3G K!s!a #ife nsurance 0om&an! #imited

C Ba7a7 Allian8 #ife nsurance 0om&an! #imited

C Met#ife #ife nsurance 0om&an! #imited

C A i a #ife nsurance 0om&an! #imited

C AMP Sanmar #ife nsurance 0om&an! #imited

C Sahara ndia #ife nsurance #imited

C Sri (am #ife nsurance #imited

COMPANY6S PROFILE BAJAJ ALLIANZ LIFE

INSURANCE

COMPANY


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INTRO&UCTION

Ba7a7 Allian8 #ife nsurance 0om&an! is a 7oint enture between Allian8

S4 of German! and ndia based Ba7a7 Auto #imited .

BA# 0 came into being on )'th March '--).

t is characteri8ed b! global &resence with a local focus and is dri en b!

customer Orientation to establish high earning &otential and financial

strength.

The 0om&an! recei ed (DA nsurance (egulator! > De elo&ment

Authorit!H

0ertificate of (egistration (:H 3o. ))? on :rd August '--) to conduct

#ife nsurance Business in ndia.

Mr. (ahul Ba7a7 is the owner of the 0om&an!. And Mr. Lamesh Go!al is

the 04O of the com&an! .

BAJAJ ALLIANZ TOP MANAGEMENT TEAM

Mr. Lamesh Go!al 0hief 4/ecuti e Officer

Mr. Anil Lumar Singh A&&ointed Actuar! > %ead Product De elo&ment


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Mr. 402 Augustine %ead Sales > Strategic nitiati es

Mr. G B #addha n estment 0onsultant

Mr. 3eera7 Lumar %ead < Alternate 0hannel > 1onal %ead

Agenc! EestH

Mr. (a7esh Kishwanathan 0hief Financial Officer

Mr. Sashi Lrishnan 0hief n estments Officer

Mr. K Phili& %ead @ O&erations > 0ustomer Ser ices

Mr. A$sha! Mehrotra %ead @ Mar$eting

Mr. A S 3ara!anan %ead @ Bancassurance > 3( Business

Mr. J!ydee C"!ure 'e!d 7 'um!$ Re)our*e)

Mr. 2 L Bhagat %ead @ 0or&orate Business

Mr. Manish Dwi edi %ead @Direct Mar$eting

Mr. Samir Ba$shi 0om&an! Secretar! > %ead #egal

0om&liances

Mr. K Sriram %ead @ nternal Audit

Mr. 5ogesh Gu&ta %ead @Business Procurement

BOAR& MEMBERS


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. Mr. R!"u- B!5!5 < 0hairman of the 0om&an!" an %onours Graduate

in

4conomics > #aw and MBA from %ar ard Business School. %e is a

member of (a7!a Sabha and 0hairman of Ba7a7 Auto #td.

/ . &r. 8er$er Zede-iu) < Director of the 0om&an!" has a doctorate

#w and is a member on the Board of Management of Allian8 S4.

0. Mr. S!$5i# B!5!5 < Director of the 0om&an!" he is B4 from Pune

Uni ersit! and MBA from %ar ard Business School &resentl! and is an

4/ecuti e Director @ %ead of Finance and 0ontrol of Ba7a7 Auto #td.


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1. Mr. 'ei$9 &o--ber: < Director of the 0om&an!" has a Uni ersit!

Degree of #aw and is 4/ecuti e Kice President < Asia Pacific Di ision of

Allian8 S4.

2. Mr. R!$5it Gu t! < Director of the 0om&an!" is M M4" AM P4> F 44and is Kice President @ nsurance of Ba7a7 Auto #td.

;. Mr. Cr!i: E--i) < Director of the 0om&an! is a Bachelor of

0ommerceand 0hartered Accountant. %e is &resentl! Director of Allian8

nsurance Management Asia Pacific PT4 #td.


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;. Mr. Sur!5 L!- Me"t! < Director of the 0om&an!" has %onours in

4conomics and is e/


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>. Mr. Manu Tandon < Director of the 0om&an!" is a 0hartered

Accountant and &resentl! Managing Director of Bec$ ndia #td.


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CULTURE

B!5!5 A--i!$9 ,i-- be :

N Be a winning team.

N %a e a &assion for e/cellence and hate bureaucrac!.

N Be em&owered" ha e the confidence to ta$e decisions 9uic$l! and be accountable.

N Be dri en to achie e results" to deli er.

N Be &rofessional and sociall! committed.

N Be o&en to ideas" sharing" trans&arent > trusting

N Focus e er!thing we do on our customers.

N Ma$e BA# 0 a Igreat &lace to wor$J.N %a e a sense of humor.

T"e B!5!5 A--i!$9 8!y

N n est in &eo&le @ Pa! de elo& career &lanning

N Dominate !our mar$et @ be decisi e communicate clear goals

N 3e er sit still @ change continuall! re olutioni8eN Thin$ ser ice ser ice ser ice @ continuous im&ro ement

N #earn and lead @ be &re&ared to listen

N Tell the facts as the! are @ clear communication

N Lill bureaucrac! @ boundar! less ideas not management la!ers

nformalit! s&eed


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N Manage the business li$e a corner sho& @ customer satisfaction

em&lo!ee satisfaction cash flow

BALIC? S!-ie$t Fe!ture)N Decentrali8ed o&erations to ensure faster and smoother customer

Ser ice

N 0ustomers recei e ser ice from an! BA# 0 office" irres&ecti e of

their own location

N (enewal &remium &ossible through

o Online

o An! of the BA# 0 offices

o Bill


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understand the insurance needs of the consumers and translate it into

affordable &roducts that deli er alue for mone!. .

A Partnershi& Based on S!nerg! Ba7a7 Allian8 General nsurance

offers technical e/cellence in all areas of General and %ealth nsurance

as well as (is$ Management. This &artnershi& successfull! combines

Ba7a7

Finser =s in


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to& three finalists for the !ear '--* and '-- in the General nsurance

0om&an! of the 5ear award b! Asia .


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B!5!5 A--i!$9 &i)tributio$ Net,or@

BA2A2 A## A31 # F4 3SU(A304 Distribution 3etwor$

BAJAJ ALLIANZ LIFE INSURANCE : Distribution Network

Agency Bancassurance Alternate Corporat

e Divison

Direct

Marketing

Area Offices StandardChartered Bank

CorporateAgents

Brokers Branches

BranchOffices

SyndicateBank

Franchises CorporateSales

Associates

BDMs

Over 2 lacs+ Salesforce

G Money Brokers DirectBusiness

!SOs

"r#an Co$opBanks

Dist% Co$Op Bank &egional &ural

Banks catering to'ass ( rural'arkets


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I$ter$!- Gr!di$: Stru*ture

GRA&E &ESCRIPTION

L2 &e !rtme$t 'e!d)

L1 &e !rtme$t 'e!d) Re:io$!- 'e!d) S!-e) 'e!d)

L0

L0A

Fu$*tio$!- 'e!d) Sr. M!$!:er)L0 B

L/

L/A

M!$!:er) Su er#i)ory Ro-e)L/B

L

L A

E e*uti#e) Cu)tomer Su ort E e*uti#e)#) B


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Bu)i$e)) 'R 'ier!r*"y

)ho'as AugustineA* , Business -&

.onal -& Managers

State -& Managers

Sr /e0 /e , State1ise

CS& , State 1ise

aydeep Chaure

-ead $ -&


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'R Guide-i$e

N %(;U Portal

N Salar! Processing Formalities

N Ser ice 0onditions

N Period of Probation

N Performance Management

N m&ortant Policies

N Pro ident Fund

N 4m&lo!ee De elo&ment

N 0om&an! 4/&ectations from 5ou


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ROLE OF BUSINESS 'R

0om&liments the %O %( team as re&resentation at the ground

le el catering to the %( needs of the ast s&read of offices.

4/tended arm of the arious %( &roduct teams from %O

One sto& for all %( needs across the countr! across all channels

m&lementation and feedbac$ of all initiati es underta$en b! %( Underta$es Branch isits" %( nduction" Attendance &rocessing"

em&lo!ee grie ance management" Polic! awareness" Talent

Ac9uisition" Talent Management" Performance management

among a host of other %( acti ities

'R O er!tio$) 7 =ey Are!)

Pa!roll

4m&lo!ee Benefits

0om&liance

Full > Final Settlement

nternal Mo ements Transfer PromotionsH

%( S

%( Audit

%( M S

4m&lo!ee (elation %ub

Single 4m&lo!ee Database


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Dear 0olleagues"

Eelcome to the 4


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Monda! to Frida! , am to ? &m

Saturda! , am to ) &m

Or

Alternate Saturda! , am to ? &m

#unch Timings ) &m to ' &m

'o-id!y)

Eee$l! Offs Sunda!

Paid %olida!s )- &er annum

4arned #ea es ') &er annum

Sic$ #ea es + &er annum

Atte$d!$*e

Attendance is recorded through %(;U. 4ach em&lo!ee has a #ogin D

and

&assword through which he she can access %(;U and regularl! u&date

his

attendance records. This is a&&licable for all em&lo!ees. A Muster

Attendance (egister is a ailable in branches" in which 3on


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Prob!tio$ Period

The Probation Period is ? months for all em&lo!ees and can be e/tended

at

Management6s discretion. On com&letion of the &robation &eriod" the

0om&an! will inform !ou whether or not !ou ha e been confirmed in

!our

a&&ointment. The &robation &eriod is deemed to be a &art of !our total

&eriod of ser ice.

Im ort!$t Po-i*ie)

Le!#e

All Team Members are eligible for ) 4arned #ea e &er )' wor$ing

da!s" and + da!s of Sic$ #ea es in the !ear. 5ou can accumulate u& to a

ma/imum of ?+ da!s of lea e and )- Sic$ #ea es" at an! &oint of time.

On se&aration from the com&an!" ?+ 4arned #ea es can be encashed"howe er Sic$ #ea es are not encashable. Sunda!s and &aid holida!s are

not included.

Lo*!- Co$#ey!$*e


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Team members can claim (s. +.+- &er $m as reimbursement of

&etrol e/&enses for a four < wheeler used for official &ur&oses. The rate

for two wheelers used for official &ur&oses is (s. ' &er $m. The same

ma! be claimed in the &rescribed format.

(i)iti$: C!rd) Em -oyee Ide$tity C!rd)

All Team members are eligible for isiting cards. After a member

7oins" the isiting card re9uisition must be filled u& in the &rescribed

tem&late and gi en to Admin for &rinting. 4m&lo!ee D 0ard Format is

also a ailable with ADM 3. After getting the 4m& code" this form needs

to be filled u& and the 4m& D card is made a ailable in the ne/t '

wee$s.

Ad#!$*e !:!i$)t S!-!ry

Team members shifting from an outside location are eligible to

claim Ad ance for house de&osit. This amount will be reco ered as &erthe term of the #ea e and #icense agreement sub7ect to a ma/imum of :?

installments de&ending u&on the #ease Agreement signedH. Submission

of a co&! of the #ea e and #icense agreement is a &re re9uisite to a ail

of this benefit.


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Bro@er!:e Reimbur)eme$t

The com&an! will &a! the %ouse Bro$erage fees for Team

Members. This is a one time &a!ment and sub7ect to a ma/imum of one

and a half months=(ental.

Pro#ide$t Fu$d

All Team Members are eligible for Pro ident Fund as &er statutor!

&ro ision. The Team Member contributes )' of his her basic salar!"

e er! month" to this fund" and the com&an! ma$es an e9ui alent

contribution. The Pro ident Fund is regulated b! the (PF0" Pune. For

more details" !ou can log onto htt& e&findia.nic.in

Gr!tuity

All team members are eligible for gratuit! as &er &ro isions under

the Pa!ment of Gratuit! act" ),*' R )+ da!s last drawn basic salar! for

e er! com&leted !ear of ser iceH. Gratuit! &a!able to the limit of :.+ lacs

is e/em&ted from ta/ deduction.

Noti*e o+ Termi$!tio$

O$ Prob!tio$
http://epfindia.nic.in/http://epfindia.nic.in/


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During the &robation &eriod" the com&an! ma! terminate the ser ices of

the em&lo!ee at an! time b! gi ing *da!s notice with or without

assigning an! reason whatsoe er. Similarl! the em&lo!ee would also be

at libert! to lea e the ser ices of the com&an! at an! time u&on gi ing

*da!s &rescribed notice.

O$ Co$+irm!tio$

During the confirmed &eriod" the com&an! ma! terminate the ser ices of

the em&lo!ee at an! time b! gi ing one get it signed from his

de&artmental head. The when the clearance form reaches

the %(P > &ersonnel de&t. The full > final settlement of dues would be

initiated as soon as the relie ing letter is issued.

Li+e I$)ur!$*e

All Team Members are co ered for a sum assured of ?- times their


41/121

monthl! basic salar!.

This co er remains onl! as long as the! remain in the ser ice of the

0om&an!" sub7ect to the minimum limit of (s + lacs and the ma/imum of

(s :- lacs.

Em -oyee &e o)itory Li$@ed I$)ur!$*e DE&LI3

This is an additional #ife nsurance 0o erage e/tended on behalf of the

com&an! in lieu of nsurance co ered under 4m&lo!ees Pro ident Fund

Act ),+'. This is to the ma/imum limit of ).+ lacs" &a!able onl! incase

of em&lo!ee6s death" to the legal heir. The &remium for this &olic! is

borne b! the com&an!.

Medi*!re

All Team Members are eligible to 7oin the Medicare %os&itali8ation

&olic! entered into with Medicare Ser ices #td. Please u&date !our

&ersonal and famil! details through %(;U.

%(;U M! Profile Personal Profile Famil! Details 4nter Famil!

Details

4m&lo!ees ha e an o&tion to select a Famil! Floater 0o er for self"

s&ouse" ' children and &arents for a floater amount of (s :" +" *.+" )-

or )+ lacs.

4nrollment into this scheme is done onl! through %r;U. ncase an

em&lo!ee fails to do his enrollment within )- da!s from the date of

creation of his %(;U id" the com&an! gi es him default co erage of


42/121

(s. : #acs for himself onl!.

The co erage amount once selected or gi en b! default cannot be

changed during the &olic! &eriod )st Se&tember to :)st AugustH.

%owe er" members can be added at an! time.

There is a com&an! subsid! of (s.+"--- < towards Medicare &remium.

An! &remium amount e/ceeding (s.+"--- < is reco ered from the

em&lo!ee=s salar!. This is a one


43/121

COMPANY BAC=GROUN&

Allian8 AG was founded in Ber-i$ i$ < > !$d )"i+ted it)

"e!d u!rter) to Mu$i*" i$ 1 . T"e +ir)t )te to

be*ome !$ i$ter$!tio$!- *om !$y )t!rted ,it" t"e

o e$i$: o+ ! br!$*" o++i*e i$ Lo$do$ i$ t"e -!te t"*e$tury. A+ter 8or-d 8!r II :-ob!- bu)i$e)) !*ti#itie)

,ere :r!du!--y re)umed. A--i!$9 o e$ed !$ o++i*e i$

P!ri) i$ t"e -!te 2>) !$d ! m!$!:eme$t o++i*e +or

It!-y i$ t"e ;>). T"e)e e !$)io$) ,ere +o--o,ed i$

t"e H>) by t"e e)t!b-i)"me$t o+ bu)i$e)) i$ Gre!t

Brit!i$ t"e Net"er-!$d) S !i$ Br!9i- !$d t"e U$ited
http://en.wikipedia.org/wiki/Berlinhttp://en.wikipedia.org/wiki/Munichhttp://en.wikipedia.org/wiki/1949http://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/World_War_IIhttp://en.wikipedia.org/wiki/Parishttp://en.wikipedia.org/wiki/Italyhttp://en.wikipedia.org/wiki/Great_Britainhttp://en.wikipedia.org/wiki/Great_Britainhttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/Spainhttp://en.wikipedia.org/wiki/Brazilhttp://en.wikipedia.org/wiki/Brazilhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Berlinhttp://en.wikipedia.org/wiki/Munichhttp://en.wikipedia.org/wiki/1949http://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/World_War_IIhttp://en.wikipedia.org/wiki/Parishttp://en.wikipedia.org/wiki/Italyhttp://en.wikipedia.org/wiki/Great_Britainhttp://en.wikipedia.org/wiki/Great_Britainhttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/Spainhttp://en.wikipedia.org/wiki/Brazilhttp://en.wikipedia.org/wiki/United_States


44/121

St!te) . I$ >; RAS S"!re"o-der)

! ro#ed t"e mer:er) ,it" A--i!$9. I$ > A--i!$9

)t!rted !$ e !$)io$ i$to ei:"t E!)ter$ Euro e!$

*ou$trie) ,it" e)t!b-i)"i$: ! re)e$*e i$ 'u$:!ry . I$

t"e )!me de*!de A--i!$9 !-)o !* uired Firem!$6)

Fu$d !$ i$)urer i$ t"e U$ited St!te) ,"i*" ,!)

+o--o,ed by t"e ur*"!)e o+ A))ur!$*e) Ge$er!-) deFr!$*e DAGF3 P!ri). T"e)e !* ui)itio$) ,ere +o--o,ed

by t"e e !$)io$ i$to A)i! ,it" )e#er!- 5oi$t #e$ture)

!$d !* ui)itio$) i$ C"i$! !$d Sout" =ore! . Arou$d

t"i) time A--i!$9 e !$ded it) !))et m!$!:eme$t

bu)i$e)) !) ,e-- by ur*"!)i$: +or e !m -e !))et

m!$!:eme$t *om !$ie) i$ C!-i+or$i!.

n '--)" Allian8 ac9uired &re)d$er B!$@ ! -!r:e

Germ!$ b!$@. A--i!$9 Grou !$d &re)d$er B!$@

*ombi$ed t"eir !))et m!$!:eme$t !*ti#itie) by +ormi$:

A--i!$9 G-ob!- I$#e)tor) . I$ />>/ Mi*"!e- &ie@m!$$

)u**eeded 'e$$i$: S*"u-te4Noe--e !) CEO o+ A--i!$9

AG. T"e A--i!$9 Grou ,!) rei$*or or!ted u$der !

4uro&ean 0om&an! Statute and" as a result of the cross

Documents

Bajaj Allianz Recuritment Report