ASSOCIATE HANDBOOK

Darashaw

Associate Handbook

The Associate Handbook applies to all Associates of the Darashaw Group of Companies.

The associate handbook is a source of communicating corporate policies. In case of any changes in corporate policy, amendment extracts will be issued to all associates. The company reserves the right to amend and change policies, as it deems necessary at any point in time.

The purpose of this handbook is to provide our associates with information regarding the human resources policies and procedures of the Darashaw Group including all its associate companies. Darashaw reserves the rights to alter, modify, amend or terminate these policies and benefits in any manner that it believes to be in the Company’s best interest.

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Associate Handbook

Contents

1. The Darashaw Legacy

2. Our Values

3. What you ought to know…

3.1. On the day of joining the company3.2. The Grade Structure 3.3. Probationary period3.4. Disassociation from service3.5. Hours of work and Attendance3.6. Holidays3.7. Return of Articles

4. Leave Benefits

5. Leave Travel Assistance

6. Maternity Benefit

7. Medical Reimbursement

8. Hospitalisation And Accident Insurance Scheme

8.1. Mediclaim Scheme8.2. Group Personal Accident Policy

9. Loan Scheme

10. Relocation Expenses

11. Provident Fund

12. Gratuity

13. Other Policies

Introduction

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To all associates,

Thank you for choosing to associate with Darashaw.

We are very pleased that you have decided to be associated with our exciting, young and dynamic company.

We have chosen the word, “associate” with a purpose. It implies a partnership - a special relationship based on mutual respect and support. Some common synonyms for the word associate include: teammate, friend, ally, peer and colleague.

At Darashaw, we are all part of the same team with all of us working towards the same goals and realizing the same vision: “Leadership, Knowledge, A Joy to work with and value addition based on a partnership driven approach for the creation of wealth and power”. To achieve this objective, we must all look for ways to add value to what we offer our clients and what we provide to our associates.

The opportunities for all of us at Darashaw are boundless. We encourage all of you to be creative, energetic and positive. Share our vision…share the dream.

Once again, welcome aboard!

Baman K. Mehta Dara K. Mehta Director DirectorDarashaw Darashaw

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Darashaw Legacy

Darashaw is amongst the oldest, continuously managed broking and investment banking houses in India. Founded in 1926 by Mr. Darashaw M. Master, it has been built on a tradition of integrity, efficiency, client commitment and a reputation for developing the markets in which it operates.

This tradition and reputation led to the Reserve Bank of India appointing Darashaw as its first broker upon the bank’s inception in 1938.

Mr. Master was a pioneer in the Indian debt market and contributed to its development and expansion. He was responsible for the induction of the erstwhile princely states and several other players in to markets. This included the Nizam of Hyderabad, then the single largest player in the capital markets.

The seventies witnessed a tremendous growth in the banking sector, following its nationalization. Darashaw, under the able leadership of Mr. Keki D. Mehta, continued to contribute to the development of the market. Mr. Mehta was involved in the policy changes initiated by the Reserve Bank of India to make its market intervention techniques more effective. He was also a member of the Bombay Stock Exchange’s committee on audit and reporting systems for the broking community. Mr. Mehta, a qualified chartered accountant, is on the boards of various companies.

Over the last decade there has been a continuous shift towards a market driven economy, which has resulted in an explosive growth of volumes and products in the financial sector. The third generation at Darashaw has responded by introducing various products such as coupon and dividend washing, forward and option trades and structuring of yield arbitrages. Simultaneously a concentrated effort was and is being made to appraise the regulatory authorities of market requirements.

This is best exemplified in the provident fund industry, on which Darashaw has concentrated since the industry’s infancy. An ongoing dialogue, over the last three years, with the various authorities regulating this industry has led to significant changes. As a result, the statutory investment pattern has been modified with the introduction of non-gilt edged securities for the first time. This has not only led to an increase in the yield achieved but also enabled the public sector undertakings and financial institutions to raise Rs.42 billion ($1.3 billion)

per year, thereby reducing dependence on the government’s budgetary support.

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These changes will lead to an industry akin to the international pension fund industry and will see the emergence of private sector pension funds. Darashaw intends to be among the first to set up a pooled pension fund.

Darashaw, today, has a strong presence in money markets, pension and provident funds, corporate finance, corporate treasury, equities and financial consultancy. As a result of its presence in these segments, Darashaw covers the entire demand and supply chain for debt paper and has built a very strong institutional distribution network. We plan to expand our distribution capabilities to encompass, besides the existing debt and selective equity products, mutual fund, and pension and provident fund products. While continuously expanding its current activities, Darashaw plans to diversify into fund management, with a focus on debt and provident fund management. Darashaw’s strategy has been and will be to grow by deriving synergy between the various markets that it operates in. To successfully implement the above, Darashaw is intensifying the expansion of its professional base.

Darashaw’s ethos has been integrity, trust and client orientation. The Indian capital markets were rocked by a multi-billion dollar scam during 1992. Darashaw, during this period, achieved a turnover of over Rs.250 billion ($8 billion) with 2,500 transactions, without, the authenticity of a single of its transactions being questioned. This further enhanced client confidence to the degree that Darashaw was called upon to arbitrate in disputes between banks. Darashaw, perceiving a conflict of interest, did not involve itself formally. It, however, informally played a substantive role in settling transactions to the satisfaction of both parties.

Today the business environment in India is more professional, has greater transparency, is better regulated, and therefore more conducive to Darashaw’s business ethos. The changing environment, Darashaw’s external orientation and the desire to continuously enhance its market standing would ensure a bright and successful future for Darashaw.

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Darashaw – People Vision

Leadership, Knowledge, A Joy to Work with, and Value Addition

built on a Partnership driven approach

for the creation of Wealth and Power

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Darashaw – Our Credo

The Darashaw Values

Positive Thinking In any and every situation sets high / challenging standards Views change positively Has an open mind towards taking & implementing good ideas Has the capacity to charge associates, organization and clients Converts problems into opportunities

Independent Working and Thinking Working within given resources Confident and capable to handle situations & people Fully Focused on results Likes and assumes responsibility Responsibilities are grabbed and executed fully

Task Orientation and Thoroughness in work Prioritization of tasks---80-20 rule/ Time Management Clarifies on task and the expectations / Paraphrase Division and delegation of responsibility Recognizes the resources and inputs required for completion of the task Delivery on tasks that have been agreed to mutually Methodical and systematic / Attention to Detail

Ability to build close relationships –Externally Gives the individual the best possible service/solution Client Visit and entertainment Focus and thoroughness on key relations Value addition to the customer

Aggressive and Persistent in achieving goals Focused in approach Consistent in follow-up Champions a cause Never gives up Overcome client mindset & obstacles by giving better suggestions & ideas

Problem Solver Clarity of thought process / defines the problem accurately Lateral thinker – visualizes different scenario’s and give different solutions

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Can see the big picture

Skills – Language, Communication and Quantitative Good listener / Paraphrases the communication Clarity of thought, logical, concise Explains with the help of examples/illustrations Good Written Communication Grabs reader interest Promotes Darashaw Positive in nature Good Presentation Skills Negotiation – creating a win-win situation for involved parties Good quantitative skills Spot yield calculations Fast number crunching ability

Recognizing and Harvesting Market Potential Finds opportunities in magazines / research reports / from clients Shares these opportunities with team / organization / clients Client Control Makes use of debt & equity research to benefit client and earn more

business

Developing others especially Training Supports, participates in Organizational initiatives Delegates / gives matching authority and freedom Shares experiences/ knowledge / expertise with everyone in the

organisation Leads by example Identifies areas of improvement across desks Understanding and patient

Organization Building Loves and commits to the organization & its vision and goals Frank and free communication Building synergistic relations across teams Initiative in organizing team activities outside work area

Be an internal Darashawite and External Ambassador Works towards Darashaw’s vision In times of distress plays a meaningful role to help the organization first Develops external Darashawites Focuses on corporate presentations Giving PPTs, Guest Lectures, articles of interest, events

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Attracts good talent for recruitment

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Darashaw – What you ought to know…

3.1 Joining Formalities – Checklist

1. When any Associate is made an offer for joining us and he accepts the offer the following documents will be given to him / her for completion of joining formalities so that by the time he/she comes in we are ready with our internal processes

a. Joining Report which the person must come filled in and handover to HR prior to or on the date of joining

b. PF. Nomination form which should be filled and given to HR prior to or on the date of joining

c. Form 16 from previous employer prior to or on the date of joiningd. Bank Account opening form duly filled in and should be handed to

HR on the day of joininge. SEBI Mapin Form duly filled in and should be handed to HR on the

day of joiningf. Copy of all Standard Accepted Practices to ensure that he has read

them and understands them before he / she joinsg. PF. Transfer form from his erstwhile company if PF has to be

transferred and that has to be given to HR on the date of joining along with the PF Account number

h. The person must submit copies of his certificates academic and work experience, salary certificate and relieving certificate from past employer before the date of joining

i. The forms for Mediclaim Insurance and Personal Accident Insurance and Gratuity Nomination and ensure that the Associate brings the same duly filled in on the date of joining.

j. The Income Tax declaration form which should be filled and returned to HR department on the date of joining

k. The induction material towards developing an understanding of the business and the various SBUs.

2. The HR dept will ensure that when the person is joininga. His login ID and password are given to him.b. His email ID is created c. His ID in the Travel program and HRMS master are all updated

with his entryd. Check list of joining is prepared and sent to Accounts

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3. While in service, if the associate gets married, the nomination form must

be revised and a copy of the marriage certificate must be submitted with changed details of residence, name and details of spouse.

4 Incase of death of nominee, or in change of nomination, the same should be notified immediately to the HR team, for further action

5. On the date of joining the Associate must first come to the HR Department and complete the formalities. In case of Branch offices the same process must be done by the Branch in-charge and must send the entire docket with the above forms to HR department before the candidate joins.

6. Just before joining a suitable date will be arranged by the HR dept for training by Back office and Accounts staff . In case of persons joining at any branch office they will have to first report to Mumbai office and complete their Accounts and Back Office induction and the induction with the various other teams at Darashaw

INDUCTION :

The HR Department on the date of joining will…..

a. Collect all the above forms and documents from the person and hand over the appointment letter and take an acknowledged copy. For associates on contract the cheque also has to be taken and kept in safe custody.

b. Introduce the Associate to all other colleagues

c. Send out a mail informing others of the joining

d. Will give a small introductory presentation about the company and businesses and the organisational structure of the organisation and all other relevant details

e. Direct him thereafter to the Team leader who is in charge

f. Give him a plan for his induction across all desks

g. After every week take periodic feedback from the trainers and the Associate and also administer the relevant tests after completion of each module of the induction

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h. Within a fortnight of joining the HR department must ensure that the Associate has a written job profile with all expectations clearly written from the team leader, so that the Associate works to a definite plan.

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3.2 The Grade / Designation Structure

3.2.1 Categories of Associates

Associates include dealers and operations level persons.

There are different categories of associates

1. Dealers

2. Operations staff

3. Non Dealers but front office executives who are in

consultancy / advisory teams

4. Messengers

5. Office Assistants

6. Graduate Trainees

7. Management Trainees

Every Associate is assigned a particular grade and designation.

The Grade is for the purpose of administrative convenience

The designation will …..

delineate the incremental responsibility levels and career path

signify increasing levels of empowerment and involvement in business /

organisational decisions

facilitate move towards formalising levels of delegation

For an associate non-monetary motivators are being recognized e.g.

Esteem, Potential actualization etc.

3.2.2 Explanation of Designation Structure

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The designations are not directly an outcome of an individual’s compensation / grades alone. Designations are determined by a variety of factors like; past experience, competence, potential and performance. The designations are of the following order,

TRAINEE

ASSOCIATE

SENIOR ASSOCIATE

ASSOCIATE VICE PRESIDENT

SENIOR ASSOCIATE VICE PRESIDENT

VICE PRESIDENT

ASSOCIATE DIRECTOR

DIRECTOR

The following is a brief explanation of the responsibility profile across the different grades

Typically a fresh Post Graduate / Graduate / junior Operations person is in TRAINEE / ASSOCIATE position wherein the …..

Responsibility Profile

FRONT OFFICE OPERATIONS Revenue generation Client Servicing Commitment to Task Recruitment Knowledge

o Concepts o Market Dynamics and

Interdependence o Client specifics

Skills o Client-control o Relationship o Negotiation o Conversion o Servicing

Attitude:

Basic Operations Work Data Entry Verification of Deal slips Contract preparation NSE reporting Service Tax compliance Checking of vouchers Punching in Vouchers Journal entries Reporting to team leader on

regular basis Debtors follow up

Knowledgeo Concepts of basic

accountancy /operations

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o Go getter o Willing to learn o Fire in belly

in debt / equity marketso Banking o Computer knowledge

Skills o Excel and wordo Negotiationo Client handling

Attitude: o Willing to learn o Follow instructions

implicitlyo Hard workero Attention to Detailo Methodical worker

Typically a Senior Associate / Associate Vice President will be a person who has an experience ranging from 2 years to 4 years in the company / industry

FRONT OFFICE OPERATIONSResponsibility Profile

Revenue Generation for self and juniors

Infusing superior work habits in juniors

Mentoring of juniors Helping in giving recruitment

leads Knowledge

o Market dynamics and potential

o Structuring options o Competitor awareness

Skills o Marketing o Client control o Money making

Attitude o Understand

organisational

Responsibility Profile

Securities Delivery related work Checking of Deal slips Reconciliations Checking of vouchers Trial balance Bank reporting

Knowledge Skills Attitude:

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aspirations, align with them

o Independent working o Task orientation, o Looks at dealing

opportunities across the country,

o Burning desire to do things better and better...

Typically Sr. AVP is one who has an experience level of about 5-7 years

FRONT OFFICE OPERATIONSResponsibility Profile:

Target setting / implementation / execution

Team performance evaluation Risk management Recruitment / Training &

Develop Knowledge

o Business opportunities o Market tracking o Advisory service

Skills o Leadership o Planning o Strategic co-ordination, o People development, o Independent working

Attitudeo Proactive to

organisational needs o Sharing the vision and

propagating ito Is an internal and

external ambassador

Typically a Vice President / Associate Director will be a Business Head with experience in excess of 7 years

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FRONT OFFICE OPERATIONSResponsibility Profile :

Strategic issues New Business Ventures Decision making on

management issues Recruitment Knowledge

o Business and Market enhancement

Skillso Leadership o People development

Attitudeo Darashaw is a part of me

3.3. Probationary period

Every associate who joins Darashaw has to undergo a probation period of 6 – 12 months ( 12 months for a graduate / management trainee and otherwise 6 months ). The probation period is more of a trial period, which allows both the organization and the individual associate the time to get comfortable with each other’s expectations. For management trainees who join from MBA graduation campus the probation period is for a period of 12 months, subsequent to which they are confirmed based on their performance.

If the performance of the associate is up to the expectations of the organization then his/ her services are confirmed after the confirmation review process is completed. The confirmation review has to be done by the team leader along with Human Resources within 15 days of completion of the probation milestones i.e. 6 months/ 12 months. The concerned associate will obtain the format for the confirmation reviews from the Human Resources Department. The confirmation of the associate solely depends on the performance during the probation period.

If the organization feels that the performance of the associate is not upto the mark, it may extend the probation period by an additional three months. Alternatively, the association with an individual may be terminated. This will be the sole prerogative of the organisation and will be communicated in writing to the associate concerned.

On successful completion of the probation period the associate concerned will be informed in writing about the confirmation of services.

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3.4 Disassociation from service / NOTICE Period

Associates who wish to resign from the services of the company are required to give the notice to the company or salary in lieu of notice depending upon the respective terms and conditions mentioned in the appointment letter. The resignation should be given in writing and submitted to Human Resources via the SBU Head.

The notice period applicable is as follows

Category of Associate Minimum Notice Period

Dealing & Operations associates 3 months

Management Trainees / Graduate Trainees and other people who are all on contracts

6 months

If the associate does not give the required notice period, the company may recover the requisite gross salary amount ( includes Basic, HRA, Spl Allowance, Transport Allowance and Food Coupons ) for the notice period not served.

The management reserves the right to accept or reject the resignation of an employee with or without immediate effect upon receipt of notice of resignation.

The company may at any time discharge or terminate the services of an associate whose performance is not found satisfactory The company may do so, by serving a notice or by payment of salary in lieu thereof as is mentioned in the terms and conditions of appointment letter. However no such notice or payment of salary in lieu thereof is necessary if the services of the associate are dispensed with for proven misconduct, fraud, gross negligence leading to financial loss and or loss of reputation.

An associate cannot serve notice of resignation when he is on leave. Also an associate cannot take leave when he is serving out his NOTICE period.

Full and final settlement of the dues of a resigned associate will be made on the impending payroll payout date after the expiry of the notice period.

If an associate is serving out his notice period and during that period if he is eligible to receive any guaranteed bonus / ex gratia amounts then the same will be paid only on successful completion of the said notice period.

On receipt of the resignation the HR department will communicate in writing the acceptance of the same. The relieving date will be finalized in conjunction with the team leader subject to the completion of the relevant notice period or formality

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in lieu of notice. No relieving letter will be provided to Associates who have not completed the due notice period formalities.

On receipt of resignation HR will forward an Exit formalities format to the Desk Head, Accounts and back office. Only on confirmation / clearance from the three of them will an Associate be relieved and his dues settled.

All handover of responsibilities will be done in conjunction with the person designated by the respective team leaders and all handover should be taken by the concerned associates in writing from the associate who is leaving.

Before leaving the services of the company the associate is required to return all articles viz. visiting cards, books, uniform, documents of the company, credit card, ID card, calculator, Laptop, Digital Dairy, Cellular phones etc.) for clearing up the dues with the company, failing which the company can recover the value of the articles from the salary / dues of the associate.

Each office through the admin person must maintain a person wise list of such articles given for official use along with their serial nos., model nos. etc

3.5. ATTENDANCE SYSTEM

The working hours for all Darashaw offices at all locations are as follows :

a. Inter Bank teams Mon tp Fri : 08:45 am to 5.45 pm Sat : 08:45 am to 1.00 pm

b. All other Teams except IBT and IBT Sales Mon tp Fri : 09:00 am to 6.00 pm Sat : 09.00 am to 1.00 pm

c. IBT & IBT Sales Teams : Mon tp Fri : 09:15 am to 6.15 pm Sat : 09:15 am to 1.00 pm

d. Flexi Time Teams / Individuals : ( Management Discretion ) Full day : 540 min Sat : 240 mins

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Lunchtime is for duration of ½ hour, subject to the team’s requirement. Also if you are going out to lunch please inform your team-mates. Please make sure that one Person from your team is on the desk at all points in time. The time spent by an associate at work may exceed the official hours, in consideration of work related exigencies.

RULES & REGULATIONS WRT ATTENDANCE SYSTEM :

Each of our offices will have a designated point person for Payroll and Attendance related matters

Depending upon the teams that people are and their job related specifics there are 4 categories for the purpose of Attendance and Payroll

Every Associate shall have a id and password for all logins and no longer only id.The timing for attendance purpose will be as per the CBI server time (which has been synchronized with the IST) and not as per the terminal on which the actual login/ logout is done.

Category 1 : Fixed timings – Dealers and associates who have fixed timings that they have to adhere based on the markets that they operate in. How the attendance system keeps track…

1. Full day a. Full day is between 361 to 540 minutes. b. Less than 360 is half day c. Half-day conditions will apply if the Associate arrives or leave 3

hours later or earlier than normal time of login/ logout respectively. i. Eg. Log in after 12 pm

ii. Or log out before 3 pmd. For a Saturday the full number of minutes is 330 minutes. However

if Associates work more than 240 minutes they are marked present for full Saturday

e. For a Half day on Saturday the rules are i. Arriving after 11am ii. Leaving before 1 pm

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iii. Being present less than 240 minutes

2. Log In a. You are required to login daily when you come to Office. You have

been given the view rights, which will enable you to see your login and process your attendance for the payroll period. You are required to ensure that you have been logged in for the day.

b. You are allowed to be late 3 times in a month (i.e. 21st of month-1 to 20th of month-2) by 10 minutes each. On 4th instance then marked ½ day / leave deducted.

c. Subsequently for every 3 occurrences of late coming another ½ day is marked absent/ leave deducted.

d. EG . – month starting 21st June – eg. Late on 22, 24, 26, no penalty. When late on 28th then getting marked ½ day. Then if late on 2nd july, 5th july no penalty, however late again on 10 th july get marked half day.

e. The discretion to discontinue the benefit of the grace period is the prerogative of the organisation if it finds that his facility is being misused by the Associate concerned.

3. Log out a. All Associates will also be required to log out to get marked present

for the day. You are requested to ensure that you have been logged out before you leave for the day through the view rights given to you.

b. If Associates do not logout, the program cannot calculate the number of minutes worked by the Associate and hence the Associate is marked absent.

c. If associate comes into office for personal reason after 12 pm or leaves before 3pm on any day for personal reason then they are marked half day. When leaving and logging out again a text box will pop up and reason for leaving early will be needed to be put in. this option is different from the Outdoor Log out / Log in option. (The reason you have to do this is as per statutory requirements a leave application has to be maintained by Darashaw & Co. for all half and full days of leave.) This ½ day leave has to be authorized in the system by the SBU Head, so please have that done within in the next 2 working days.

d. Please find attachment of Leave Application Form along with this mail.

e. then he / she is marked half day and as above please fill in details so that the ½ day leave report can be generated.

4. Outdoor

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a. OUTDOOR LOGIN :All Associates have to do an OUTDOOR login if they come to office after attending a Client. There is a text field that has to be filled up at time of outdoor log in where you will fill in the client name, place, meeting time and time into office E.G.1 Gammon India at worli 9.30am meeting, office 11.15am or E.G.2 Telco PF vashi 10am, office 12.30pm.

During login two options will appear on the screen (Personal and Outdoor). If reason is personal then pls. enter reason as “late”, if reason is official then pls. enter Outdoor Log in, E.G.1 HDFC Limited at Backbay 9.30am meeting or E.G.2 RCF PF at Chembur 10am.

b. OUTDOOR LOG OUT: If the Associate is going to a meeting from

office irrespective of whether he/ she expects to be back/ Not in office that evening then he/ she has to do an Outdoor Log Out, in same manner. E.G.1 HDFC Limited at Backbay 5.30pm meeting or E.G.2 RCF PF at Chembur 5pm. Outdoor Log In:

c. FULL DAY OD: If a person has gone to meet a client in the morning directly from home (a “Client Visit Notification Form” has to be filled, this form has to be submitted to the concerned point person by dealer himself/ desk head, at least one day prior to the actual Client visit –FULL DAY OD only when he/ she is not going to come for the whole day, If this Form is not submitted in advance the same can be informed by the desk head only on the immediate following day of the Client visit day to the point person)

d. Please find attachment of the “The Client Visit Notification Form” along with this mail.

e. In case of emergency situations, the Associates will report the same on the immediate next day.

Absent

a. If you are unable to come to work for personal reasons and there is no log in or log out then you will be marked absent. Please see the SAP on Leave Rules re: filling in a leave/ absentee form on your return to work.

5. Timings for different desks to be designated

a. MM / IDT / OIS - 8.45 am b. IBT Sales and IBT – 9.15am c. PCR and HR 9.00am d. Pension 9.00am

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e. PCG 9.00am f. Equity dealing and equity Research – 9.00amg. Consultancy 9.00am h. Accounts and Back Office at CBI / Regent / Stock Exchange – 9.00

ami. Delhi – 9.00 am except IBT which is 9.15 amj. Bangalore – 9.00 am except IBT which is 9.15 amk. Chennai – 9.00 aml. Kolkatta – 9.00 amm. Pune – 9.00 am

Category 2 : Flexible Timings

This is for peons and for key back office personnel etc who come at different times. The same rules on late ½ day etc have to apply to them also.We have to follow this in conjunction with payroll period.

In shift basis the person should work normal 540 minutes If they work at least 360 minutes then it is a full day If they work less than that then it is a half day

In this category all rules of Fixed time (Category 1) apply re: hours, half days etc. However they are not to be marked absent for coming in late according to the 10 minute rule.

This is applicable basically to main people in back office who are working long hours. Associates will be allotted this category at the discretion of the management.

Category 3 : Special Category

These will typically be people who are at Vice President and above levels and all rules relating to the Fixed timing category will apply except for certain concessions which will be communicated by HR Dept.

Category 4 : Exempt Category

Designated people as per management discretion, who are exempt from above rules.

6. Saturday Off Rule All Darashaw Associates are allowed to take 1 Saturday off each month. For payroll purpose please henceforth take your Saturday off between 21st of Month-1 and 20th of Month-2.

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Nobody will be allowed the benefit of taking two Saturday offs in the same payroll month even though they may fall in different calendar months.

The Saturday off has to be authorized by the Team leader for all teams, as it is subject to the Team leader discretion and work exigencies. One Saturday per month will be automatically recognized as Sat off if no log in or log out is there on any one Sat falling between the 21st of month 1 and 20th of month 2. 7. Attendance while Traveling Before going on work related travel you have to fill in the Travel form for the advance and booking in the program under Travel Module, form called Travel Requisition Form. This form will have to be compulsorily filled by all Associates going on Travel whether they will be incurring costs on Travel or not or Traveling by own vehicle.

This will ensure that your attendance is recorded for the days you are traveling.If you decide to take a day off while you are away traveling on business then when you arrive back please write to the administration person in charge of attendance and inform him that you were on leave by submitting a Leave Form.The status of any Associate in the branch offices who are on travel from 13 th – 21st of every month should be given to Anuradha.- Point person in Mumbai

The Associate will be treated, as absent if the Travel Requisition and/ or the Travel Report is not filled, as his attendance will not be captured.

In exceptional cases where Travel periods overlap by a short span of One day/ less and the Associate has to Travel again and is unable to fill the relevant Forms, he/ she should intimate the accounts person of the respective branch along with the supporting documents to do the same on his behalf. Alternately he/ she can fill the same on the net even when he is on Travel. All branch offices must send their expenses every Monday. Especially at the end of payroll period latest by 21st of every month. The associates concerned with sending reports this should not remain absent during the payroll period.

8. LEAVE Leave form will be integrated into the payroll package and also will be available on the INTERNET through the IBS site login..

An Associate becomes eligible for 30 days of paid leave in any Financial year, post confirmation of services with the Company or 6 months whichever is earlier.

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No leave can be availed by the associate unless authorised specially by the team leader. Authorisation by the team leader has to be obtained in the IBS system only after which other designated people will authorise the leave and eventually leave will be granted.

In and around diwali, in the month of february when we have our annual conference, accounts closing / half yearly / yearly audit ( for accounts and back office ) and while the person is serving out his notice period and any other dates which are specific to the team he / she is posted to .The system has an inbuilt feature of periods during which an associate from any particular team is not allowed to go on leave. However the desk head will have the prerogative of over riding that feature.

An associate becomes eligible for 30 days of paid leave in any financial year, post confirmation of services with the company. This leave is inclusive of casual, sick, privilege leave.

The paid leave of 30 days comes in two tranches of 15 days each for the half yearly cycle from 1st April- 30th September and 1st October-31st March respectively. If the probation period of the Associate gets over then proportionate leave for that period will be credited. On completion of 6 months from the date of joining the Associate will get 15 days leave adjusted proportionately for the half yearly period.

ALL ASSOCIATES ARE URGED TO GIVE IN THEIR LEAVE PLANS AT THE START OF THE FINANCIAL YEAR IN ORDER TO AVOID ANY CLASHES WITH OTHER TEAM MEMBERS.

SICK LEAVE

In case an associate is sick and has taken more than 3 days leave on account of sickness then the leave request form must be accompanied by a Doctor’s Certificate. This is mandatory and not doing so may entail this leave to being considered as leave without pay.

LEAVE WITHOUT PAY

Leave without pay will be granted only at the discretion of the management the intimation of which is to be sent to Human Resources Department through the SBU Head/ Team Leader.

Absence without prior sanctioned leave except in cases of absence due to sudden illness in the family or due to any other unforeseen causes shall be treated as absence without pay for the period of such absence. If the associate conveys his/ her cause of absence to the company on the first day of absence then he/ she may be granted leave from his/ her account. On return from the

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leave the associate must fill up the leave form and take the signature of the SBU Head and hand in the form to the payroll department. Associates who remain absent for 2-3 days without intimation more than 2-3 times a month on a regular basis will be liable for disciplinary action because of habitual absenteeism.

LEAVE FOR SPECIAL CASES

Under normal circumstances an associate, will be allowed to avail only 15 days of paid leave in any given half-year cycle. However, under not so normal circumstance like death, marriage, sickness etc., an associate may avail all 30 days of paid leave in any given half year cycle, subject to the discretion of the management.

Note:Any Sunday/ Darashaw designated Holiday falling in between the applied / availed leave period will be considered as part of the leave applied / availed. However associates may utilize their Saturday off within this leave period if no other Saturday off has been availed of in that particular payroll period.E.g.1 Associate on leave from Thursday to Monday. Thursday, Friday are days of leave, Saturday Off and Sunday is normally off and not counted as long as associate resumes work on Monday morning. Thus total leave taken is 2 days.E.g. 2 Associate on leave from Thursday to Tuesday. Thursday, Friday, Sunday and Monday are counted as days of leave. Saturday Off can be utilized. Thus total leave taken is 4 days.

The filling up of leave/ authorized absence form in necessary whether it is prior to proceeding on leave/ absence or post absence, which is verbally authorized in cases of sickness/ emergencies.

1 Confidentiality of all Passwords All Darashawites are requested to ensure that this password information remains confidential. As professionals, you are to log in and log out for yourself and not for others, nor can you ask others to log in or out for you. It is a serious breach of trust and infringement of company policy if this does occur. We are re-iterating this, as there have been unfortunate lapses in the past. In case of power Failure/ system failure, please sign with remarks in the muster kept at each location and that fact must be brought to the notice of the point

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person who should in turn keep the central admin person Anuradha informed via email immediately. Taking Time Off

Associates are also eligible for a single Saturday off a month. This is subject to sanction by the team leader and may be suspended under team or organizational exigencies.

Time off must be scheduled in advance in accordance with the needs of your team. Personal time is always subject to team leader approval. In addition, associates who exhibit a pattern of poor attendance, for example, consistently missing a certain day of the week, may be subject to disciplinary action as well.

Exceptions may be allowed in the following circumstances provided you promptly contact your team leader to provide notification of your expected absence as described below:

If you or an immediate family member (spouse, child or parent) is ill or injured and needs care.

If due to unusual circumstances and if business needs permits, management approves an unpaid leave of absence.

** ALL ASSOCIATES ARE ENCOURAGED TO MAINTAIN A DIARY IN, WHICH THEY NOTE DOWN THE FOLLOWUP WORK TO BE DONE FOR THE NEXT DAY BEFORE LEAVING THE OFFICE. THIS WILL ENABLE HIS / HER COLLEAGUE TO FOLLOWUP ON ANY CRITICAL ISSUES.

Late Call-In

Because of the nature of our business, it is important that you are at work daily on time. Your co-workers depend on your attendance and punctuality, as do our clients.

If something unexpected arises that prevents you from coming to work or means you will be reporting to work late, you must call your team leader or reporting senior before your scheduled start time. Excessive tardiness will result in corrective action. Be sure to speak with your team leader/reporting senior regarding his/her expectations as to when and how you must call in.

Absenteeism

In case of unauthorized absence of an associate from the required place of work for more than 8 continuous days, appropriate disciplinary action may be taken against him/ her.

3.6. Holidays

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Darashaw observes 10-12 holidays per calendar year. Depending upon the regions and the festivals celebrated at different locations it is ensured that the regional offices discuss and decide the holidays with the Human Resource Department. This list shall be circulated to all offices at the beginning of the calendar year.

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LEAVE ENCASHMENT

Leave unavailed in the first six months of a fiscal is carried forward to the next six monthly period.

Thereafter at the end of the fiscal, if there is any balance leave, then only 7 days of leave will be carried forward to the next financial year. Any number of paid leaves in excess of 7 days, will be encashed and paid out to the concerned associate.

Leave encashment will be on the basis of Basic Salary.

Leave encashment will be done at the end of any given financial year only, except in case where an associate leaves the organization after following the due leaving process, whereon it will be done at the time of final settlement of dues.

In case an associate joins during a half-year cycle or is confirmed during a half-year cycle, paid leave will accrue on a pro-rata basis. For probationary associates, leave will be credited pro-rata on completion of 6 months.

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Leave Travel Assistance

Leave Travel Assistance (LTA) is available to associates who are in the confirmed services of the company only subject to a minimum of one year’s of total service being completed.

Associates are eligible for LTA as per their salary structure.

Service during training / probationary period will be taken into account while calculating eligibility period for LTA. However no disbursement of LTA will be undertaken during training/ probationary period even if the associate resigns or is not confirmed.

Associates leaving the services of the company by way of resignation or for any reason whatsoever shall be entitled to proportionate LTA (Subject to Income Tax Rules) in the year of leaving service.

Application for LTA must be made in the prescribed format 15 days before proceeding on leave.

An associate can avail of LTA on a non–taxable basis only under the following circumstances as per the Income Tax Act,

The associate has availed of leave for a minimum of 5 consecutive days; and

The original ticket jackets are submitted to the accounts department along with the form for claiming LTA.

It is availed twice in the designated block of 4 years. Note the designated block is for 4 calendar years and not financial years

If any one of the above conditions is not met then the LTA amount will be treated as taxable in the hands of the associate and TDS will be deducted up front. LTA is available for travel purposes within India alone. Board and lodging expenses cannot form a part of LTA claims as per the Income Tax Act, 1961.

LTA is tax exempt only for 2 years in a block of 4 calendar years since 1986. In other words, LTA will be taxable for 2 years in the 4-year cycle.

Carry forward of unclaimed amounts will be done from one financial year to another however subject to carry forward for one year only. Unclaimed amounts will be disbursed on a taxable basis in March salary.

All LTA disbursements will be done through Payroll only.

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Maternity Benefits

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Female associates who have worked for atleast 80 days in the 12 weeks

immediately preceding the date of her expected delivery are eligible for fully paid

maternity leave of 90 days in which not more than 6 weeks shall precede the

associate’s expected delivery. The benefit is available for a maximum of 2

childbirths. i.e. no maternity benefits will be given for a third child. All maternity

leave applications must be forwarded to Human Resources in the leave format

through the SBU HEAD only.

Medical Reimbursement

Associates are eligible for medical reimbursements as per their grades. Medical reimbursements may be claimed by associates on a quarterly basis on the production of original medical bills. Bills should be sent to administration department along with a covering note listing out the individual bill details before

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the 20th of the last month of every quarter. Bills will be accepted only in the last month of the quarter in question. Please take an acknowledgement for bills submitted.

An associate can claim a maximum of 25% of their eligible medical reimbursement in any given quarter. In other words, the medical reimbursement will be progressive in nature i.e. 25% in Q1, 50% in Q2 if not claimed in Q1 and so on. For appointees joining the company during the financial year, medical reimbursement will be on a pro-rata basis.

Carry forward of unclaimed amounts will not be possible from one financial year to another. Unclaimed amounts will be disbursed on a taxable basis in March salary.

Hospitalisation - Mediclaim & Personal Accident Insurance

Scheme

8.1 Group Mediclaim Scheme

All associates and their dependants if any are covered by the Mediclaim policy the premium for which is paid by the company. The eligibility for coverage is as mentioned in the appointment letter or as notified in writing, if any changes in individual’s limits are effected.

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This benefit is given to provide financial assistance to the employees and their dependents / spouses in the event of major illness involving institutional care, surgery, and other medical treatment involving hospitalization.

In the event of hospitalization the associate / family member must inform the Human Resources Department of such a claim in writing within 3 working days, so that the necessary insurance company formalities are complied with. In case of hospitalization claim the Doctor’s certificate stating requirement of hospitalization, original bills, original Discharge card and all other Doctor’s reports, X rays etc. are a necessity for the claim to be forwarded to the insurance company. Within seven days of discharge from the hospital the above documents must be submitted to the Human Resources department with a covering note containing all the enclosures. Also the necessary claim forms must be obtained by the associate from the administration department and filled in and sent to Human Resources along with the above enclosures. All possible assistance will be given to the associate when filling up the forms etc. by the authorized agent of the insurance company. Assistance will be provided on request being made by the associate to Human Resources.

Carry forward of unclaimed amounts will not be possible from one financial year to another. There can be no encashment of this facility if the associate does not opt for the policy.

8.2 Group Personal Accident Insurance

All associates are covered by the Group Personal Accident Insurance Policy. The policy provides personal accident benefits in case of death of associate, permanent partial disablement, permanent total disablement, or in case of total temporary disablement.

In case of death or partial / total disability the concerned nominee / associate must notify the Human Resources Department within 3 working days for a claim to be lodged. The associate / family is required to produce the necessary documents vis death certificate, panchnama, admission / discharge documents of the hospital, original bills for the purposes of the claim. The claim forms are to be obtained from the administration department and must be sent duly filled in with all enclosures. All possible assistance will be provided to the associate / relations through the insurance agent.

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Relocation Expenses

Travel Entitlement:

Associates transferred on duty from one location to another are entitled for reimbursement of travel expenses for self and family (spouse, dependent children)

Grade I to grade II : By II AC train

Grade III & IV: By Air (Economy Class)

Shifting Expenses

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Associates will be reimbursed shifting expenses on production of suitable documentary proof incurred in connection with transportation of household goods by road, rail packaging, porter age, octroi.

The same has to be claimed within 7 days of relocation with a specific request to Human Resources Dept routed through the SBU Head.

Provident Fund

Provident fund is an old age security benefit. It is a good measure of forced saving on part of the associate for his old age. Every associate at Darashaw is covered under this benefit.

The company will deduct 12% of basic pay and make a matching contribution to the associate’s account. Both the contributions will be deposited with the EPF run by the EPFO. Part of the employer’s contribution goes towards the EPS (Employees Pension Scheme) and the balance goes to the EPF scheme.

On joining every associate is required to fill up Form 2 (nomination form).

On leaving the organization an associate has the option of withdrawing the amount to his credit or alternatively he can transfer the amount to his next employer’s account. The respective forms for the same have to be requisitioned by the associate concerned from the administration department and filled in.

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Note: In case of withdrawal the company will forward the duly completed forms after endorsement to the RPFC office and obtain an acknowledgement receipt. The original receipt will be forwarded to the associate concerned. Thereafter the onus is on the associate to follow up with the concerned RPFC office for getting the proceeds.

Gratuity

Every associate who has completed a minimum of 5 years of continuous service with the company is eligible to receive gratuity on

a. Resignation from the company b. On deathc. On discharge not due to termination for misconduct / financial improprietyd. On retirement from the company

The gratuity that a person is eligible to except in condition (b) above is 15 days salary for every completed year of service. The salary taken will be the last drawn salary.

In case of (b) the condition of 5 years is not necessary. The person is eligible for past and future service gratuity till the age of retirement. The condition is 15 days salary for entire service period till retirement. In case of gratuity on death of an associate the same will be payable to the legal heir of the associate.

The company subscribes to the gratuity scheme of LIC. It makes annual contributions to the scheme and in the event of a claim the gratuity amount is paid

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by LIC to a special trust created by the company for this purpose. The trust will then make the payment to the associate.

On joining, an associate must fill up the gratuity nomination form available with the administration department.

Other Policies

Open Door/Grievance Redress Policy

Darashaw strongly believes that open communication is important. We have a simple process for you to use to express ideas, concerns or to solve problems. This process is called the “Open Door.” The Open Door signifies open and honest communication among associates.

Most concerns can be resolved with the team leader. This is usually your best approach because issues are generally better understood and more easily resolved at the closest level of communication.

Darashaw encourages you to communicate directly to your team leader. If you do not feel comfortable discussing your concerns with your team leader, you may bring your concerns to the attention of the human resources team, or the management of Darashaw.

Expressing your concerns through the Open Door is not a guarantee that you will agree with the ultimate resolution. It does mean that your suggestions and concerns will be heard and that they will be addressed.

No associate will be retaliated against as a result of using the open door policy.

Privacy Rights Policy

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We want to ensure you understand what is and is not considered private in the workplace.

Computer files or disks, e-mail and voice mail and any related phone or computer systems are company property, and should be used for business related purposes only. The Company reserves the right to monitor these systems to ensure they are being used for appropriate purposes only. You do not have a personal right of privacy for any material created, received or sent from these systems. You waive any right of privacy pertaining to messages or content, and you consent to give access to and disclosure of messages or content to authorized associates. The Company reserves the right to read and disclose the contents of messages and content for any purpose consistent with the business interests of our Company. There is no guarantee of confidentiality or security when using these systems.

Electronic messages should only be sent to those individuals who have a business need to receive them. The Company reserves the right to retain e-mail and voice mail files for a set period and to systematically erase them after that time. Personal e-mails can be accessed by associates in various teams as per the discretion of the team leader.

Telephone and Computer Use Policy

The Company understands that when associates work during the week it is occasionally necessary to conduct personal business during office hours. However, associates should limit their personal use of the telephone and computer during office hours. Talk to your team leader or reporting associate if you have any questions as to how much is too much time. Because the Company at its expense provides telephone and e-mail systems for business use, all messages sent by or received on those systems are company documents. The Company reserves the right to access and to disclose the messages that you send or receive on the voice mail or e-mail systems. Associates should also be aware that “deleted” messages from the computer screen might not actually be deleted from the e-mail system.

Associates who abuse telephone and computer use policy are subject to disciplinary procedures up to and including discharge.

Smoking Policy

The Company maintains a non-smoking policy within the offices. Associates desirous of smoking should smoke only in those areas of the building that are smoking designated.

Dress Code Policy

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The Company maintains a business working environment. All employees should use discretion in wearing attire that is appropriate for the office and customer interaction. Casual dressing is allowed on Saturday provided there are no client meetings.

Conflict of Interest Policy

Our conflict of interest policy prohibits you from engaging in personal activities or business dealings inconsistent with the Company’s best interests while employed by the Company. You have the obligation to avoid situations that would cause a conflict of interest or the appearance of a conflict of interest including but not limited to:

Using Company information for personal gain Unauthorized disclosure of confidential or proprietary information Acquiring interests in or independently servicing competitors or clients Working for a direct competitor Holding another job (moonlighting)

All associates are asked to sign a confidentiality clause in their appointment letters.

Change of Address/Emergency Contact Information Policy

If you move or have a change in home phone number, be sure to submit this information to the human resources team within three working days. It is important that such information is kept current so that you may receive any information that the Company needs to mail to your home.

In addition, you are responsible for notifying us any time you have a change in emergency contact information.

Verification of Employment policy

All requests for employment and wage verification from banks, legal and financial institutions, landlords, etc. must be made in writing and must be signed by you. Please allow sufficient time to Darashaw to respond to such requests. We will do everything we can to respond in a timely manner. If you are contacted directly for any such references or verification, please refer them to the Human Resources team.

Employment of Relatives Policy

Darashaw may prohibit the employment of an individual where he or she would be under the direct supervision of a relative. In addition, Darashaw may prohibit the employment of a relative where:

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One relative would audit, verify or be entrusted with monies received or handled by another relative.

One relative has access to payroll information and processing.

The Company and its subsidiaries reserve the right to determine when such a conflict exists. The Company management and Human Resources must approve such determinations.

Corrective Counseling Policy

Darashaw is justifiably proud of its associates and the manner in which they conduct themselves. The Company and each of its associates are expected to conduct all work-related matters in accordance with the law. For the protection of our property, business interests and the health and safety of all associates, we have established certain standards of conduct, performance and production, the SAPs. These standards will also ensure superior service to our clients.

Corrective action may result from not following or meeting these standards. If the breach is considered serious, immediate discharge will occur. Darashaw reserves the right to interpret the severity and appropriateness of the corrective action based on the circumstances of the situation and also reserves the right to handle each situation on a case by case manner.

The Company, at its sole discretion, reserves the right to determine when and if progressive discipline should be used. Nothing in this policy should be considered to be a promise or agreement that the Company will use progressive discipline. The Company always retains the right to terminate employment without warning, cause or notice.

Warnings for Violation of Major Company Rules

Violation of a major company rule will generally result in immediate termination. These rules, although not all inclusive, are listed below. All terminations need to be approved by the team leader of the associate, the Human Resources team and the management. If the Human Resource team or the team leader cannot be reached, the associate should be suspended until the termination can be reviewed and approved. If management decides not to terminate, the associate is issued a final written warning.

Major Company Rules (do not consider this list all-inclusive) Violation of security and critical safety rules Abusing, destroying or intentionally damaging Company or client

equipment or property

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Falsification of Company records, including but not limited to falsification of hours worked

Theft or any dishonest act impacting either the Company, client, other associates, or organizations serving the Company

Disclosure of proprietary or confidential information Misusing or removing Company records or confidential or proprietary

information without proper authorization Withholding information from the Company concerning the theft of

Company property or assets Abusive or threatening physical or verbal acts against co-workers or

clients Insubordination Possession or consumption of alcoholic beverages on Company property Reporting to work while under the influence of alcohol or a controlled

substance Failure to report anyone violating a major Company rule

Performance Management Policy

The company has an elaborate performance management system comprising of reviews and feedback. The performance of an associate is evaluated in all quarters of a financial year by the team leader, HR and / or management. The reviews are carried out both on the business front and the qualitative front.

The Human Resources Department will explain the framework and system for Performance Management in detail.

Operations associate have to maintain a daily record of the work done and send the record everyday to the respective department head who will respond / query the contents. All queries raised by the department head have to be answered the very next day. Failure to adhere to this system will mean in subordination for which necessary action as deemed fit by the department head will be taken.

The contents of this daily record book will be the sole consideration for the salary reviews and performance incentives to all support staff.

Other Performance Issues Policy

The purpose of this process is to present a planned method of improving performance or correcting policy violations. The following serves as a GUIDE as to how corrective action should be administered.

The various corrective action/counseling steps will give consideration to the following, and each case will be reviewed individually:

The circumstance and/or explanations given by the associate

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The past work, service record and position/level of the associate. This will include reference to the daily log book being maintained by all operational staff

The policy violated The extent and severity of the violation The frequency of the infraction The consistency with action taken with other associates for similar

violations under similar circumstances

Oral Conversation: the reporting senior/team leader informs the associate of the misconduct or substandard performance. If the problem is corrected and not repeated within a six-month period following the conversation, no further action will be taken. The reporting senior will make a record of such conversations; however, such records will not be placed in the associate’s personnel file.

First Written Action: your reporting senior will document performance issues that reoccur on a Corrective Action form and identify the steps necessary to correct the problem. You, your reporting senior and team leader will all sign the form. You are welcome to make written comments on the form or attach another sheet if necessary. The original of this form is forwarded to human resources to be filed in your personnel file. You and the reporting senior will both keep a copy.

Second Written Action: if you do not correct a performance issue addressed by a first written action, your reporting senior will complete another Corrective Action form. You, your reporting senior, and team leader will all sign the form. You are welcome to make written comments on the form or attach another sheet if necessary. The original of this form is forwarded to human resources to be filed in your personnel file. You and the reporting senior will both keep a copy.A copy of the disciplinary procedure is attached in Annex III.

If at this point the performance issue reoccurs within a twelve-month period, the reporting senior has a number of options, depending on the circumstances.

Suspension Termination Decision making leave

o This is one day off with pay. The purpose is to give associates the opportunity to think about whether they wish to continue to work for Darashaw. Reporting seniors will only select this option if they feel there is good potential for the associate to continue with the Company. The reporting associate will complete a final written corrective action indicating that the associate is being granted a decision making leave. The associate will return to work with a written letter to the Company explaining why he/she would like to continue employment with Darashaw and indicate the changes in behavior that the reporting senior might expect. This letter will be given to the reporting senior

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when the associate returns to work. In addition, a final written warning will usually accompany such a leave.

Final written warning o This would be similar to a second written action, except that both

the associate and the reporting senior understand that any further occurrences of issues or problems will result in the associate’s termination.

Suspension Policy

Suspensions may be used when an associate is suspected of a serious violation requiring further investigation by management. Examples might include: theft, falsification of company records, fighting with a co-worker, and using abusive language with a customer, etc. If the Company finds the associate committed no wrongdoing, the associate will be reinstated with back pay if applicable.

Termination Policy

Associates who voluntarily resign from the Company are asked to provide at least 12 week advance notice of their resignation. For all associates the notice period would be 3 months. This notice should be in writing and must be forwarded to the concerned team leader/reporting senior only and should briefly state the reason for leaving and the anticipated last day of work. No associate is entitled to accept the resignation of a co-worker other than those mentioned above. In the case of an associate failing to follow the process of voluntary termination, the company reserves the right to recover monetary dues in lieu of the notice period.

The management also reserves the right to accept or reject the resignation of an associate without any reason whatsoever. The company may at any time discharge or terminate the services of any associate whose conduct is not found satisfactory, without assigning any reason whatsoever. The company may do so by serving a notice or by payment of salary in lieu of notice. However, no such notice payment of salary in lieu of notice is necessary if the services of an associate are dispensed with for proven misconduct, fraud, embezzlement.

If a terminating associate is eligible for any incentive compensation, bonus, and/or awards, they must be actively employed on the date the compensation, bonus or awards are presented or paid out, in order to receive the compensation, bonus or award.

In case of involuntary termination, the associate is eligible to a severance pay. The policy on termination and severance pay is attached in Annex II of this handbook

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Pay and Remuneration

Associates are paid salary, latest by the 5th of every calendar month. The payroll function of the company is outsourced. The cut off date for all payroll related information to be given by the associate will be the 20 th of the month for which the payroll is to be run.

An associate on joining / at the start of the year is expected to fill out a declaration form, on the basis of which TDS deductions are made. The declaration form may be changed a maximum of 3 times in any given financial year. Associates are expected to make requisite investment proof available on the basis of their declaration to the Human Resources team by the 15th of January every financial year for tax relief, failing which requisite deductions will be made in the following months payroll. Exceptions will only be made in the case of LIC premiums, which are due to be paid in March. However in such cases also LIC allows one month prepayment of premiums, which should be done by the associate and submitted before 20th of February.

Darashaw Loan SchemeThe scheme is currently discretionary, and is considered on a case-to-case basis.

Business Expenses Reimbursement

The company will reimburse associates for expenses, which are directly, business related and include travel expenses, office supplies, and mileage incurred while traveling on business. Associates must submit all bills relating to business expenditure. The limits on expenses are laid down in the Annexure 1 in this handbook.

Additionally, there is a policy on travel rules, reimbursements, use of credit cards etc. A copy of the same is attached as Annexure 1 with this associate handbook.

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Entertainment Expenditure Policy1. We have given the following indicative slabs for entertainment expenses according to client type. There would be some exceptions to this rule for a few very important and profit generating clients.

Client Type Maximum Amount (per person)

Level of Officer/ Manager. Dealer (A) Rs. 300 - 400 AGM/ DGM (B) Rs. 500 – 650General Manager / Director Finance (C) Rs.750 – Rs. 1000Special Clients As per discussion with team

leader/management

The above limits are for Mumbai. For all Delhi / Chennai and Bangalore please deduct 10%. For Poona / Baroda and other cities and such cities about 15% - 20%. Overstepping of limits is not recommended but in cases it happens the associate must get the sanction of his / her team leader before submitting the bills to Accounts Dept.

ALL ENTERTINMENT EXPENSES BILLS MUST BE SUBMITTED TO ACCOUNTS WITHIN 5 WORKING DAYS OF THE EXPENSE BEING INCURRED . FAILURE TO DO SO WITHIN THE TIME PERIOD WOULD LEAD TO DISQUALIFICATION OF THE EXPENSES. THE EXPENSES WILL BE REIMBURSED ONCE A WEEK ON THE DESIGNATED DAY IE. THURSDAY BY THE ACCOUNTS DEPARTMENT THROUGH THE ADMIN PERSON OF THE OFFICE.

SAP FOR BUSINESS PROMOTION AND ENTERTAINMENT EXPENSES

a) Advance required, if any, by associate for business promotion / entertainment – Advance requisition should be on preprinted format (available at the desk of admin department) should contain the name of person to be entertained / gifted (business promotion) and must be sanctioned by the Desk Head. Once the amount is spent, you should settle the account immediately and return the balance, if any, to admin department. If expense is more than the advance / or out of pocket, the money will be paid On Next following Wednesday.

Note : Once the expense incurred should be enter immediately

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1. In Case of Regent Chambers Voucher with proper authorisation Submit to Admin Regent

2. In Case of Branches Voucher with proper authorization should be sent to Account CBI.

Since the verification of ex Expenses done by Accounts Dept. at CBI, Voucher with proper authorization should be reach at Accounts - CBI within 5 days from the date of Expenses incurred. After 5th day system will not allowed to enter and verify the Voucher. To avoid such circumstances, associate is requested follow the system strictly.

1.1 Procedures to claim business promotion and entertainment expenses( Applicable for All employees irrespective of Location )

2. Go to internet site http://www.ibspune.com/dcl/

3. Employee Code and password ( This is provided by the Super User on or after joining organization)

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4. Go to Expense Menu - Business Promotion and Entertainment bar will appear. Select Enter - option and the following screen will appear. Click on New to enter new voucher.

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5. Employee name will appear automatically. ‘Expense number’ will be blank (It’s a auto generated entry) / Team and Location will appear automatically

6. Go to ‘Authorized by’ section and enter the name of Department Head7. In the paid to section – enter the name of the payee (i.e. name of the party amount is

paid). 8. Bill no/ bill date/ amount / advance if any / purpose should be entered . The purpose

should be discreet. 9. Expenses made for Client and its designation should be mentioned 10. Save and Print the voucher 11. Attached supporting (bills) to the voucher and take the signature of Desk Head.12. Get it sanctioned by the desk head well in advance at least 3 days. 13. Submit it to admin for reimbursement. 14. It will finally be approved Accounts head. 15. It will then be forward by admin department to accounts department on every

Monday by making a seal envelop and by writing in ‘Regent – CBI – Regent’ Book for acknowledgement.

16. And it will be accrued by accounts department every Tuesday and reimbursed every Wednesday.

*Advances for Business Promotion / Entertainment - Prior approval is must from the desk head can be availed by admin department at Regent Chambers

Checklist for Business promotion / Entertainment1.Name of the person / Desk head2.Amount claimed with bill attached3.Name of the person on reverse side of bill4.Check all the documents attached with claim date and bill date 5.Desk heads approval

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ENTRY IN FINANCE MODULE AND CERTIFICATE

Every Associate is required to enter the Business entertainment expenses incurred through the Business Entertainment module in the Finance Software or on the IBS software on the INTERNET. Please remember to save and confirm the expense entered as otherwise the system will not register the same. Also please write the system generated voucher number on the original bill in pencil.

All business entertainment expenses are to be approved by the desk head in the normal course and or management when the limits given to desk heads are exceeded. For this purpose a Client entertainment expenses covering slip has to be attached on which the desk head will approve. The bill must be stapled to this covering slip and all details must be completely filled in by the associate.

Procedure for requisition of client entertainment advance and submission of bills:

1. A requisition for expenditure that is estimate to amount to more than Rs. 3000 for the entertainment must be prior sanctioned by a member of management or team leader.

2. In case of cash advance taken for entertainment the associate is required to submit the bill with the voucher number that is system generated and details of clients entertained and the signature of the dealer, in pencil, on the reverse. The bill has to be submitted to the admin person at the office the very next day except when on tour. Bills submitted later than that will not be accepted for payment. The balance cash if any must be returned the very next day to the admin person. Please attach the covering slip to the bill with the desk head authorization duly complete before handing it over to the accounts person

Disallowance of Expenditure

In the unfortunate case that an expense has to be disallowed we would like to document it very clearly so that there is no confusion that exists for the concerned parties at a later point in time.

The disallowance of expenses slip

Dear Ms. / Mr. _________________________

Please be informed that expenses amounting to Rs.____________________ submitted by you towards:

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a] Travelling expenses against tour of. from………2000 to …...………...2000b] Local Conveyance incurred by you on………..2000 vide your voucher dt ……….2000

c] Entertainment expenses Bill#…………..Dt……………2000 of…………………….

d] _____________________

have been disallowed by accounts for the following reasons :--

1] No written approval of the team leader / management.2] Late submission of claims 3] incomplete details4] Client information not mentioned 5] Supporting bills/cash memos not attached.6] Expenses exceed the prescribed norms – no authorization taken.7] _____________________________________

The documents submitted by against these expenses are being returned herewith.

Please refund the disallowed amounts immediately.

Signature ___________________________

Date _______________________________

This slip will be prepared in duplicate and a copy given to the concerned associate.

Disallowed Expenses Deduction Policy

(A) A separate monthly sheet to be maintained by Accounts in its books with noting of associate wise deductions E.g.Name of Associate Amt. of Dedn. Reason Payment details (for a/cs.use only)

Chq # & *1 Mr./Ms………….. 2 Mr./Ms…………..3 Mr./Ms………….. (B) Around the 15th of each month this sheet is to be given to the payroll department for inputs of the month.

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(C) On disallowance an entry will be passed by accounts crediting the Advance against Tour expenses account and debiting “Recovery from Mr./Ms.… Salary account “

(D) Against salary summary received from our outsourced payroll consultant, the deduction will be credited to “Recovery from Mr./Ms….. Salary account.”

(E) This will serve as a control to ensure all recoveries have been made in case there is any spillover into the next month.

CONVEYANCE & TRAVELLING

Rules and Regulations for Conveyance and Traveling

In today’s world every rupee saved is a rupee earned. Managing costs is very critical to every business and therefore the rules and regulations given below are an attempt to save on our costs which are mounting by the day and at the same

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time ensure comfortable conveyance / travel to the associate. This will also help in the smooth passing of all conveyance / travel vouchers that are submitted to accounts. Also the formats given herein are as per the information that is required by accounts and hence will also help in effective compliance of systems which accounts department is working towards.

A) LOCAL CONVEYANCE:1. Persons in Mumbai who reside at Western / Central suburbs normally

possess Train passes. Train travel being faster should be resorted to more often and this can help in saving on time and expenses incurred on traveling by Taxi. You may want to therefore avoid usage of taxis as far as possible if it is possible to travel by train. An auto / taxi can then be taken to the final destination. In many cases it has been observed that a person travels by Taxi when it is possible to travel by auto, which costs 40% less. They must keep these savings in mind.

2. In places like Kolkata, where taxi charges are arbitrary and high use of the metro rail pass is recommended which saves time and money. A taxi can then be taken from the tube station to the destination.

3. Local conveyance has to be entered in the conveyance module provided in the travel Module (for branch offices it will be through the INTERNET). You must make the entry promptly at the end of the day or early next day to avoid forgetting. The local conveyance for a particular week can only be entered till 12.00 noon of the following Monday after which the system does not allow entry. So please be sure to enter the conveyance within the appropriate period.

4. Whenever a person is going out of office for a official visit he must enter the name of the client he is visiting in the attendance program at the reception.

5. Please make it a point to tell your teammates where you are going and where you can be contacted and when you expect to be back so that can reach you.

6. The weekly entries for each person will be sent to accounts on every Monday evening and then the conveyance reimbursed every Thursday. In case you travel directly from home / on Sunday please make sure that the entry is made in the program the very next working day first thing in the morning.

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7. No reimbursement is possible if the entries are not made for the respective week in question.

8. Reimbursements will be made by the concerned admin person at the respective office. If a person is not available the amount in question will be given to the team mates and he/ she will sign on your behalf.

9. Whenever two dealers go out together only one of them should claim the conveyance and it should be decided who is claiming that conveyance.

10. Also if they are coming back separately then on returning back they must put the respective conveyance amounts.

11. Please note that this facility is for claiming a week’s expenditure alone. The onus for ensuring that the expense claims are not duplicated purely lie with the associate.

12. For peons and office assistants the local conveyance entries must be initialed by the dealer concerned / the department head and only then should the statement be submitted to the accounts department. The respective expenditure will be debited to the concerned desk.

13. In case a peon is sent out of office late evening to far off places then any bills for food consumed by him must be authorized by the dealer concerned and only then submitted to accounts department. Please note that the dealer concerned must authorize the peon concerned prior to him going out. The limit will be Rs. 35/- for a peon and we would prefer if they submit bills for the food wherever possible.

STANDARD ACCEPTED PRACTICES : CONVEYANCE CLAIMS

1. Associate joining at Regent , CBI, Stock Exchange will claim through ‘Travel and Conveyance’ module

2. Associates joining or posted at Maker V and Branches will claim conveyance through net. (procedure through net is given below. Please refer - ( SAP 2. Claim of Conveyance / Business Promotion / Entertainment expenses incurred by associate in SAP)

3. Details of conveyance data should be entered on day to day basis on arrival from the visit. In the case of visit getting over after duty hours and associate can not return to office, then the data can be entered immediately once associate attends the office next day. In case associate goes out on visit on Saturday and can not enter data in system due to out on duty, he/she can claim it on Monday on attending the office till 4.00 pm

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Claim of conveyance expenses –4. Go to Travel module by clicking. (Travel Module is on your PC and is

displayed on monitor screen).

5. Enter Employee Code and Password.(Employee Code and Password will be set and provided by Mrs. Mehta (Director) and concerned will be informed accordingly by Admin / HRD departments)

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6. Go to local conveyance. Go to conveyance voucher

Press the New button to enter new voucher.

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7. Select Employee (After selecting employee - company, location and team will appear automatically. The employee code will be incorporated by Mrs. Mehta on joining the Company)

8. Do not enter net amount. The system will not accept it. This will be generated automatically once entered in step no. 7 (following step)

9. Proper data should be enter i.e. date, out-in time, party visited, to and from locations, mode, ( In Mumbai, no mileage/Rate is permitted), amount, enclosures - number of First Class train tickets. Physical First Class tickets are must. If there is no proper supporting, the claim will be disallowed. Claim also will be disallowed not claimed in stipulated time. I.e. specific week.

10. Voucher must be saved after punching entire data. (Voucher once saved can not be modified, hence associate is requested to be careful while punching data and save it).

11. If Employee claiming conveyance for more than one day in a week then following procedure will be followed :

Travel and conveyance Module Local Conveyance – Conveyance Voucher – Company – Employee –

click on find button

Then click on show details and add the conveyance below the entered data. Save and close.

12. The voucher will be approved and accrued every Tuesday and paid every Wednesday for previous week.

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SAP for Claim of Conveyance incurred by associate at Maker V and Branches

17. Go to internet site http://www.ibspune.com/dcl/ , the following screen will appear

18. Employee Code and password ( This is provided by Mrs. Mehta on or after joining organization)

19. Go to Conveyance menu. – Enter

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20. Employee name will appear automatically. ‘Expense number’ will be blank (It’s a auto generated entry) / Team and Location will appear automatically

21. Click on ‘New’22. ‘Employee’ ‘Company’ ‘Location’ ‘ Team’ ‘Date from’ ‘to’ will appear

automatically’

23. Enter date, time out, time in, party visited, from location, to location, mode, and amount. (Please do not enter any mileage and rate. This is not applicable in Mumbai region). Click on Add New will give you additional rows to enter multiple entries.

8. If Employee claiming conveyance for more than one day in a week then following procedure will be followed :

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Use step No. 1 to 3 and click on find button Voucher of current week will appear on screen. Add the conveyance below entered data.

9. After you finish, please save the voucher

MILEAGE CLAIM :

14. In case people authorised to use their own cars for official work where people use their own vehicles they will have to maintain a logbook for the kilometers traveled along with the client name, company, destination and purpose.

15. They will be reimbursed at a rate of Rs. 1.75 per km for two wheelers and Rs. 6.00 per km for cars in Delhi and all other locations Rs. 7.00 per km. Here again the frequency of reimbursement should be weekly and the same rules apply as in pt no. 2 above.

16. Please note that for any running of the vehicle between the offices and home and vice versa there will not be any reimbursement.

B) OUTSTATION TRAVEL FOR OFFICIAL PURPOSES

1. We suggest that you take a cash travel advance which is keeping in line with the accommodation rates and the food and beverage requirements. In case you expect to have certain expenses above and beyond the regular expenses please make a note of it in your travel requisition form under Extraordinary Expense and carry that amount with you.

2. Tour Advances Requisitions (TAR) (in prescribed format) and approved by the management / desk head are to be given to the person concerned at the offices at least one day in advance & before 12 p.m.

3. All travel related formalities are computerized and you are required to use the system of Travel Requisition and Travel Enter for your travel expenses. These modules are available to each one of you through the travel program. For branches the travel module will be through INTERNET.

4. Avoid unnecessary telephone calls for prior intimation. In case of emergency please fax / email the requisition duly authorized. Accounts department will respond confirming the receipt of the requisition.

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5. Plan your journey in advance as we are losing a lot of money on cancellation of tickets. Request for cancellation should be in the required format and must be submitted to the concerned person who will in turn submit these cancellation request slips to accounts dept alongwith the bill of the travel / ticketing agent.

6. We trust you will use your discretion for train travel re: First AC vs. Second Class AC vs. Air. If you are traveling by Air please take authorization from your team leader / management on the travel requisition form.

7. At the time of booking the ticket the requisition slip duly authorized should be submitted to reception only after which the reception should requisition the ticket. This requisition slip must be attached to the bill of the ticket / travel agent by reception at the time of submission of bill to accounts.

All travel tickets must be submitted to accounts in original along with the expense sheets.

8. As far as possible meet all your travel expenses solely from advances taken adequately from Mumbai or through your Credit Card provided to you. Do not ask the Branch to make any expense directly on your behalf.

9. In extreme emergency or when your tour has been extended on HO’s instructions, cash may be taken from the Branch, spent by the associate member concerned & accounted for in his own statement with specific mention of same in expense statement. We will subsequently reimburse the branch accordingly. Branch Account people please inform Accounts at the HO so that they can send this money to you in your next monthly accounts.

10. Associates must ensure that they fill up the travel statement in the travel Program in the format enclosed with complete details. Incomplete & incorrect statements are liable to be rejected. Please ensure that all enclosures are numbered and attached in serial order.

11. In case the associate is on tour for more than one fortnight then he has to send the travel statement for that fortnight by courier along with all attachments to the accounts dept and respective office for Out of Bombay Offices which will then be forwarded to Accounts Dept. Please keep a Xerox copy of the entire set sent to accounts just in case the documents are lost in transit. This will help Accounts in scrutiny and clearance of bills as takes a lot of time to check and clear out travel expense statements.

Please be sure to maintain that courier receipt with you and also a photocopy of what you have sent in case there is any loss in transit.

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12. Please make sure that you all scrutinize your bills before submitting them.

13. Vouchers or bills must support all expenses incurred during the process of the journey.

14. All bills to be serially numbered, according to the date and attached to the travel statement. In the travel statement the bill numbers should be mentioned in the top right hand corner of the expense item box. Expenses must be classified under the heads given in the format only for every day of the tour. THE GRAND TOTAL SHOULD BE ROUNDED OFF TO THE NEAREST RUPEE. Small bills and chits must be attached to a larger sheet of paper as it makes handling easy and avoids loss / misplacement of bills.

15. Traveling expense statements must be submitted to Accounts desk latest by 10.00 am of the seventh day of resumption from tour along with balance cash, if any (in sealed envelopes marked to Accounts Dept.).

16. The accounts department will not entertain any delays in the submission of travel statement after the stipulated seven days.

17. In case a delay in submission is anticipated for valid reasons ( which are extremely unforeseen circumstances ) the concerned associate must inform Accounts Dept. in writing well in advance of the deadline date through his / her team leader giving reasons for the same. In the event of non-compliance of the deadline and no intimation being sent to accounts dept. of the same there will be the following penalties.

a. one day late : 10% of total travel expense will be recoverable from the associate

b. two days late : 20% of total travel expense will be recoverable from the associate

c. and so on and so forth however subject to a ceiling a total deduction of 50% of the Travel expense.

d. Any delay beyond this time will entail in the disallowance of the entire expense and recovery of the same from the associate

18. It is preferable to settle the expenses immediately on return from tour as no advance will be given for the second trip unless bills of earlier trip are cleared and settled unless under extraordinary circumstances.

19. IF THE TOUR IS CANCELLED ANY ADVANCE TAKEN HAS TO BE GIVEN BACK IMMEDIATELY. IF THE ADVANCE TAKEN IS NOT SETTLED WITHIN THE TIME LIMIT MENTIONED ABOVE THEN THE AMOUNT IS LIABLE TO BE RECOVERED FROM THE ASSOCIATES’ SALARY.

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20. Similarly, expenses, which have been disallowed, are to be paid up immediately to the Company. In exceptional cases where the disallowances are heavy, recovery will be made from his subsequent salary. No request letter will be entertained.

21. If travel statements are submitted any later then they will not be reimbursed. Outside Bombay offices in case of any such contentious matters please report the same to Bombay Accounts dept.

22. Queries if any on the travel statement from the accounts department must be promptly answered within 24 hours of the receipt of the query. We request each and every Associate to treat this as a matter of importance. If Accounts does not get your co-operation and they will request the desk head to intervene.

23. Accounts will clear the travel statement subject to all modalities being met; within 48 hours of submission of the statement to accounts department subject to they’re being no queries.

SAP for TRAVEL BOOKING MODULE FOR REGENT & CBI1. A ready format of ‘Travel Booking’ is available at the Desk of admin /

reception called as ‘ travel booking slip’. 2. Fill in details manually and get it duly approved by Desk Head3. If travel is by air, hand over your travel booking slip to admin department and

inform to book ‘air ticket’ for self (person who is traveling) . The details to be filled by admin department / reception. Ticket received will be delivered to you.

4. If associate advised to travel by train, the train ticket has to be booked by associate Traveling (Telephone number of the travel agent is available with admin department / reception. The charges for ticket and agent charges to be paid by associate from his own ‘travel advances’) SAP for TRAVEL ADVANCES

1. Travel requisition is must at the time of taking travel advance. Requisition must be authorized by the Desk Head (Requisition form is available at the desk of admin department / at the reception. Please submit the approved advance form to admin department). If old advances not settled then no more advances will be given except valid reason.

2. All the fields in the travel requisition needs to be filled. 3. Travel settlement report should be submitted the very next day but not

later than the 7 days of arrival. After 7th day system will not accept the entry and the expenses will not be reimbursed. To avoid such circumstances, associate is requested to enter the travel statement on the day of return.

4. Go to Travel Module by clicking on it (Travel module is already set on your computer).

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5. Enter your Employee Code and password (Will be provided by Mrs. Mehta (Director).

6. Click on requisition and then Requisition-Enter

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7. Click on ‘New’8. Requisition form will appear.

9. Do not enter anything in requisition number (It will come automatically once you enter inputs and save it)

10. Enter employee name (Click on the (---) and find your name. After finding it select it by clicking on it.

11. Mention the purpose of visit in ‘purpose’ block. The clients name and place should be mentioned.

12. Mention advance amount, if required. Also mention ‘pending advance’ if any. If you have any disallowed ‘travel amount’ please mentioned it.

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13. Informed 14. Enter the data in blocks provided for ‘date / place - from and to / mode / class /

airline (in case of air travel). 15. Do not fill anything in ‘Requisition program” 16. Save the document 17. After saving the document, request your Desk Head to ‘Approve’ the same.

( The Desk Head is aware of the modalities, if not then admin / HRD departments will take care of the same).

18. Once you complete your tour, you are requested to settle your account within seven days of arrival. Failing to do so will result in deduction of advance from salary or written clarification to the Directors of the company.

SAP for TRAVEL SETTLEMENTS 19. To enter travel report, go to ‘travel module’, Enter Employee Code and Password. 20. Go to Travel Report and then to TR-Enter.

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21. Click on ‘New’. A blank report form will appear.

22. Do not enter any number to report. (It will be generated automatically, once you complete data punch and save it)

23. Start with employee – by clicking on the options menu and then select your name. Location and team will automatically appear. You have to enter the Date (from – to ). Mention the ‘Requisition Id’ by clicking on the ‘Options’. Please specify ‘advances’ taken, if any. Also the place visited.

24. Please do not enter any thing in ‘Total Expenses, Credit Card, Cash, Advance, Exceed limits, Net payable options’- It will appear automatically after you save voucher.

25. Go to ‘Day 1’ form on same page.

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26. Departure and arrival dates should be the same, for day 1. Enter the timings and places of your travel. Enter the Travel Mode, Airline ( If traveled by Air ), Total Fair, Company paid. Net Fair will automatically appear. Encl Nos. should be mentioned for the day as per explained below. Enter the data for “Expense Type Description’, place, cash, enclosures. Save the data for each day and repeat for number of days traveled, if expenses incurred .

27. If travel fare paid by the Company, it should be entered in ‘company paid block’ effect should be given ‘Total Fare Block’.

28. In the case of cancellation of earlier ticket and purchased new ticket, the difference amount should be entered. For eg. You have cancelled Train Ticket worth Rs.1000/- and took Air Ticket of Rs. 5000/-. Then in Travel Fare enter Rs. 4000/- only. [i.e. Rs. 5000/- Less Rs.1000/-]. Also cancellation charges to be mentioned. I.e. Rs.5000 – Rs.1000 – 50 cancellation charges. (please take extra care on this) CANCELLATION FORM IS MUST (available at reception desk / admin department)

29. Entertainment and Business promotion bills must have client name, designation written on reverse side by pencil and should have been authorized with the pencil on the back side of the enclosures of the same.( If not done it will be disallowed)

30. While on tour, Expenses incurred on entertainment of office colleagues should go to staff Amenities and not to ‘entertainment’.

31. Expenses more than limit (limits given in the Induction hand book / available with admin department), same will not be accepted in the ‘Travel Module’ data entry and amount above limit will be disapproved by default. (You are requested to abide by the rules of limitation on daily expenses).

32. Save after each days data punch. 33. Approve and Verify Procedure will done by Accounts / Admin.34. Take the print out, after Saving the Voucher. 35. Two or more associates traveling together, should submit their expenses separately.

If for lodging, food and entertainment, the bill is consolidated, they should divide the total amount by the number of persons and claim the equal amount. In this case one associate should submit the original and other submit photocopies (Very Important). If any associates have entered it. They should reenter it again.

36. Each Supporting ( Voucher & bill ) should be numbered and attached on the blank sheet of paper. Each sheet should contain separate expenses and for separate dates. The number of the sheet should be entered in the enclosure block on your system. (Enclosure should tally with the data punched in the system).

37. Submit the Travel Statement with proper supporting and approval to Accounts / Admin.

38. (for Accounts & Admin department only) – A polite e-mail to be sent to associate if disallowed. To check whether the report submitted on time or not, any false claims be brought the notice of Mrs. Mehta immediately.

39. After sending it to CBI for reimbursement, accounts reimburse it on every following Wednesday by 4.30 pm, and shall be reimbursed to associates.

Checklist for travel settlement

1.Name of the person2. Date of journey

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3. Date of submission (shall not allow person after 7 days of tour) 4. Attachment to check - Proper tickets / proper hotel bill / proper telephone bills / laundry bill/ food bill / conveyance details / other details as in travel module. 5. Expenditure within limit or not, if above limit disallow by disallow button

Any Associate going on leave directly from his tour (out and out ) should inform in writing to Desk Head by fax or other wise by e-mail and Desk Head should inform HR department accordingly. Also Associate should submit the report immediately upon returning from leave stating the reason for late submission. In this case associate should be allowed to enter the travel report.

10. Procedure for Cancellation of tour.

1. Ready format for cancellation of ticket is available at reception / admin desk. Trip cancelled due to any reason, Associate should fill in the form and submit it to admin department for cancellation. Cancellation should be authorized by the desk head / HRD head.

2. Once any request received for cancellation, admin department will call Travel Agent for air ticket cancellation (i.e. Bombino – 22045278 / 22046233) and if train ticket to be cancelled , Associate supposed to travel should arrange to send office boy to railway reservation counter (western / Central – any one will do) for immediate cancellation of ticket.

3. Associate should give a ‘physical voucher’ along with cancellation slip for difference amount of cancellation charges and booking charges paid to agent.

4. Admin will then collect the voucher and travel advance paid to associate, if any, and will send it to Accounts department same day at 2 pm for same day and / or (10.30 am for next day), after preparing acknowledgement slip on Regent – CBI – Regent book for depositing in bank same day.

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Darashaw & Company Ltd Date : _______

Travel cancellation SlipLocation : _______________

Company : ________________

Associates Name : _______________ Desk _______________

Cancellation Date : ________________ Travel Date ____________

Purpose of Travel : ___________________

Mode of Travel : Air / Train / Taxi / Air 1.

Class of Travel : II AC / 1st AC / II Class / Y Class / J Class

Ticket No________________________ Travel Agent ____________________

Cancellation charges _______________________

Associates Signature : ___________________ Desk Head : ____________

To be filled in by reception desk / Admin Department

Name of the Travel Agent : ______________________________________

Cancelled by : ______________________________________________

Date : ______________________________________________

Refund ________________

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SAP for TRAVEL BOOKING MODULE FOR BRANCHES & MAKER CHAMBERS

5. A ready format of ‘Travel Booking’ is available at the Desk of admin / reception called as ‘ travel booking slip’.

6. Fill in details manually and get it duly approved by Desk Head7. If travel is by air, hand over your travel booking slip to admin department and

inform to book ‘air ticket’ for self (person who is traveling) . The details to be filled by admin department / reception. Ticket received will be delivered to you.

8. If associate advised to travel by train, the train ticket has to be booked by associate traveling (Telephone number of the travel agent is available with admin department / reception. The charges for ticket and agent charges to be paid by associate from his own ‘travel advances’)

SAP for TRAVEL ADVANCES 1. Travel requisition is must at the time of taking travel advance. Requisition must be authorized by the Desk Head (Requisition form is available at the desk of admin department / at the reception. Please submit the approved advance form to admin department). If old advances not settled then no more advances will be given except valid reason.

2. Once the expense incurred should be enter immediately 1. In Case of Maker Chambers Travel Statement with proper authorisation

Submit to Admin Regent 2. In Case of Branches Travel Statement with proper authorisation should

be sent to Account CBI.

24. Since the verification of expenses done by Accounts Dept. at CBI, Voucher with proper authorization should be reach at Accounts - CBI within 7 days from the date of arrival. After the 7th day system will not allowed to enter and verify the Voucher and the expenses will not be reimbursed. To avoid such circumstances, associate is requested to enter the travel statement on the day of return.

Procedures to claim Travel Expenses 25. Go to internet site http://www.ibspune.com/dcl/

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26. Enter Employee Code and password (This is provided by Mrs. Mehta on or after joining organization)

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Go to Travel Menu - Select option - Enter and the following screen will appear.

Click on New to enter Travel Statement.

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27. Do not enter any number to report. (It will be generated automatically, once you complete data punch and save it)

7. Filled with Yellow colour are compulsory to be fill like Place Visited , Purpose, Date from and To

8. Advance taken if any to be entered. 9. Click on Fill Details Button – following Screen will appear.

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31. Please do not enter any thing in ‘Total Expenses, Credit Card, Cash, - It will appear automatically after you save voucher.

32. Go to ‘Day 1’ form on same page.33. Departure and arrival dates should be the same, for day 1. Enter the timings and

places of your travel. Enter the Travel Mode, Airline ( If traveled by Air ) Encl Nos. should be mentioned for the day as per explained below. Enter the data for “Expense Type Description’, place, cash, enclosures. Save the data for each day and repeat for number of days traveled, if expenses incurred .

34. To Enter the conveyance for the day Click Conveyance for the day Button.

35. In the case of cancellation of earlier ticket and purchased new ticket, the difference amount should be entered. For eg. You have cancelled Train Ticket worth Rs.1000/- and took Air Ticket of Rs. 5000/-. Then in Travel Fare enter Rs. 4000/- only. [i.e. Rs. 5000/- Less Rs.1000/-]. Also cancellation charges to be mentioned. I.e. Rs.5000 – Rs.1000 – 50 cancellation charges. (please take extra care on this) CANCELLATION FORM IS MUST (available at reception desk / admin department)

36. Entertainment and Business promotion bills must have client name, designation written on reverse side by pencil and should have been authorized with the pencil on the back side of the enclosures of the same.( If not done it will be disallowed)

37. While on tour, Expenses incurred on entertainment of office colleagues should go to staff Amenities and not to ‘entertainment’.

38. Expenses more than limit (limits given in the Induction hand book / available with admin department), same will not be accepted in the ‘Travel Module’ data entry and amount above limit will be disapproved by default. (You are requested to abide by the rules of limitation on daily expenses).

39. Save after each days data punch. 40. Approve and Verify Procedure will done by Accounts / Admin.41. Take the print out, after Saving the Voucher. 42. Two or more associates traveling together, should submit their expenses separately.

If for lodging, food and entertainment, the bill is consolidated, they should divide the total amount by the number of persons and claim the equal amount. In this case one associate should submit the original and other submit photocopies (Very Important). If any associates have entered it. They should reenter it again.

43. Each Supporting ( Voucher & bill ) should be numbered and attached on the blank sheet of paper. Each sheet should contain separate expenses and for separate dates. The number of the sheet should be entered in the enclosure block on your system. (Enclosure should tally with the data punched in the system).

44. Submit the Travel Statement with proper supporting and approval to Accounts / Admin.

45. (for Accounts & Admin department only) – A polite e-mail to be sent to associate if disallowed. To check whether the report submitted on time or not, any false claims be brought the notice of Mrs. Mehta immediately.

2

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Checklist for travel settlement

1.Name of the person2. Date of journey3. Date of submission (shall not allow person after 7 days of tour) 4. Attachment to check - Proper tickets / proper hotel bill / proper telephone bills / laundry bill/ food bill / conveyance details / other details as in travel module. 5. Expenditure within limit or not, if above limit disallow by disallow button

Any Associate going on leave directly from his tour (out and out ) should inform in writing to Desk Head by fax or other wise by e-mail and Desk Head should inform HR department accordingly. Also Associate should submit the report immediately upon returning from leave stating the reason for late submission. In this case associate should be allowed to enter the travel report.

Procedure for Cancellation of tour.

5. Ready format for cancellation of ticket is available at reception / admin desk. Trip cancelled due to any reason, Associate should fill in the form and submit it to admin department for cancellation. Cancellation should be authorized by the Desk Head

6. Once any request received for cancellation, admin department will call Travel Agent for air ticket cancellation and if train ticket to be cancelled , Associate supposed to travel should arrange to send office boy to railway reservation counter (western / Central – any one will do) for immediate cancellation of ticket.

7. Associate should give a ‘physical voucher’ along with cancellation slip for difference amount of cancellation charges and booking charges paid to agent.

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Darashaw & Company Ltd Date : _______

Travel cancellation SlipLocation : _______________

Company : ________________

Associates Name : _______________ Desk _______________

Cancellation Date : ________________ Travel Date ____________

Purpose of Travel : ___________________

Mode of Travel : Air / Train / Taxi / Air

Class of Travel : II AC / 1st AC / II Class / Y Class / J Class

Ticket No________________________ Travel Agent ____________________

Cancellation charges _______________________

Associates Signature : ___________________ Desk Head : ____________

To be filled in by reception desk / Admin Department

Name of the Travel Agent : ______________________________________

Cancelled by : ______________________________________________

Date : ______________________________________________

Refund ________________

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H.O personnel on tour to Branches.

We maintain our accounts on the basis of cost centers and to thus ensure that each associate’s expenses get debited to the correct cost centers we request you to abide by the following guidelines

a. The Dealers are to incur their expenditure from adequate tour advances taken by them from H.O or through their Credit cards.

b. Please pay for car hire charges, conveyance, travel tickets, food, lodging etc. yourself even if you are in another Darashaw office.

c. The Darashaw Offices are advised not to disburse any expense on their behalf except in cases of extreme emergency and intimate H.O Accounts in writing for reimbursement in the next month’s requisition.

d. If a Branch Office associate comes to HO for a period of a week or less please get the funds from your office.

e. If it is a long stay (One week plus) then please only bring basic travelling expenses from your branch office. E.g. about Rs. 2000 for the actual travel from the branch to the HO. Once you come here contact the accounts department for a suitable advance for you to live on.

f. You will have to follow all HO rules in terms of conveyance, timing etc. g. If you are here for a long period of time please speak to Accounts and

the HR Department on the system for accounting / limits etc.h. You will submit a weekly expense statement to the Accounts

departments. Make sure the last statement that you hand is up to the day that you leave.

BRANCH ASSOCIATES ON TOUR TO HO.

Any dealer/ associate visiting H.O for a long period has to adhere to H.O. rules. They must submit their weekly expenses towards conveyance, food, entertainment, etc. by Friday so that these may be reimbursed in Mumbai itself. Hotel Lodging bills are to be submitted to accounts every week.

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BOARDING / LODGING EXPENSE LIMITS FOR THE VARIOUS CITIES / METROS - REVISED WEF 01/04/2001

TRAVEL LIMITS WILL BE SUBJECT TO AREA VISITED AND THE GRADE OF THE ASSOCIATE

Category 1All Metro cites: Delhi, Bangalore, Chennai, Kolkata, Hyderabad and Ahmedabad Category 2Non-Metro cities: e.g. Lucknow, Kanpur, Jaipur, Chandigar, Pune, Chandigarh, Baroda, Bhunbaneshwar, Trivandrum, Cochin, Shimla and Dehradun Category 3 Other cities e.g. Bhillai, Rourkela, Bhavnagar, Bokaro, Nashik and Jalgaon

Category of Place Visited

Lodging (excluding taxes)

Travel within the area

Food (max limits)

Category 1 Rs. 2000/ day(Grade I & II)Rs. 3000/day (Grade III & IV)

On actuals Rs. 375/day (Grade I & II)Rs.450/day (Grade III & IV)

Category 2 Rs. 1800/ day (Grade I & II)Rs. 2300/day (Grade III & IV)

On actuals Rs. 325/ day (Grade I & II)Rs.400/day (Grade III & IV)

Category 3 Rs. 1200/day (Grade I & II)Rs.1800/day(Grade III & IV)

On actuals Rs. 275/day (Grade I & II)Rs.400/day (Grade III & IV)

Mumbai Accommodation will be arranged

On actuals Rs. 400/day (Grade I & II)Rs. 500/day (Grade III & IV)

Notes:Lodging

a) Please note that the lodging charges are exclusive of taxes. Please double up in a room if traveling with another Darashaw personnel

b) The cities mentioned in the categories above are not exhaustive in nature. If traveling to any other cities than those mentioned above, do use personal discretion in judging the category applicable. Also note that if in doubt; please contact the HR department for clarifications/clearance.

c) In Delhi, Bangalore, Chennai and Pune all Darashaw personnel will be accommodated in the guesthouse. Associates can put up in

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Hotels in these locations if the guesthouse is occupied. Tips to bell boys/porters on actuals (i.e. please list…avoid giving one round figure). In case an associate stays at the guesthouse of the company he will be entitled for food allowance alone..

d) Please make sure that you ask for a discount on the board and lodging. All hotels will give you a minimum of 10% and some will give even 20%. If you visit that particular place frequently you have more bargaining power.

Food

a) This is only an upper limit and reimbursement remains on actual bills. b) Alcohol bills cannot be claimed in the food allowance unless we are

entertaining clients.c) ACTUAL BILLS WILL BE REQUIRED FOR THE MAIN MEALS OF

THE DAY WHENEVER POSSIBLE. SNACKS, MINERAL WATER CAN BE CLAIMED WITHOUT BILLS, IF IT IS NOT FEASIBLE TO OBTAIN A BILL. A VOUCHER HAS TO BE PREPARED AND ATTACHED FOR THIS PURPOSE

d) The allowance for food is on a per day basis. It may not be claimed on a cumulative basis.

e) This limit is for the associate only. It does not affect client entertainment.

Travel

a) Car hire: When necessary as an image building exercise or as a necessity due to unavailability of adequate public transport.

b) All local conveyance expenses must be listed down individually on the reverse of the travel statement in the format given.

In Journey Expenses

When an associate spends time commuting either from base to destination or between two destinations or from destination to base, he will be entitled for in –journey expenses. This will be applicable in case of train / by road journey only. For air travel basics like water, emergency medicines and reading material can be purchased. In-journey expenses will include all expenses on food, beverage, waiting room charges, newspaper / periodicals and other essential items like water / handy medicines only. Collie / Porter charges should not be included in journey expenses and must be indicated separately in the travel statement. The Upper limit for in-journey expenses will be 10% of the allowable Boarding / Lodging expenses of the place to which you travel (from the place of normal duty) in question and will be reimbursed on actuals only. This expense limit will apply

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individually to both to and fro in journey expenses on a daily basis. NO FLAT AMOUNTS CAN BE CLAIMED. Wherever possible bills must be attached to the Voucher giving the breakup.

Client Entertainment

These bills must be entered day wise in the travel entry moduleAs you would do for client entertainment while in station you would please follow the same system while travelling. Bills are required for reimbursement. Please write on the reverse of the bill in PENCIL ONLY the name of the client, number of persons entertained and your signature. Dealers entertaining their clients at times fail to mention the names / organisation of the person entertained. Such incomplete claims are liable to be rejected. Please attach the certificate for the expense done along with the bill and get it authorised before submission.

Colleagues Entertainment

These bills must be entered day wise in the travel entry module

Team leaders / management / HR are encouraged to entertain the Darashawites in that office. Other associates can entertain their SBU mates within their national team.

On the reverse of such bills please mention the names of all the people who were present at such gatherings.

Telephone Expenses

These bills must be entered day wise in the travel entry module

Associates calling up their homes should keep the call duration to a maximum of 10 minutes after 9 o’clock per day. Please write on the reverse of telephone bill the name of the party called. On the back of that bill please indicate personal call in PENCIL.

Business Promotion expenses for Clients While Traveling

These bills must be entered day wise in the travel entry module

Bills must be submitted immediately on resumption. You have to write on the reverse of the bill the name of the client. In case the gift is over Rs. 1000/- then the bill must be authorized by the person in-charge of the office / the directors.

This should be sanctioned by your team leader / management before submitting it to accounts. Please make sure you did not leave on tour until this is filled in.

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Associate Handbook

PERFORMANCE MANAGEMENT PROCESSES

PERFORMANCE MANAGEMENT focuses on both PLANNING & IMPLEMENTATION to make STRATEGIC MANAGEMENT an organisational reality

The company has a proactive performance management process which gives clarity to the Associate in terms of the expectations and deliverables from him / her. It also allows the reviewer to objectively evaluate the performance of the Associate on a regular basis and give timely feedback and ensure course correction where necessary.

Every team within Darashaw while adhering to the broad framework of performance measurement has an individual approach that is best suited to that department.

The general frame work that is followed is as depicted below

The 3 R’s OF MANAGING PERFORMANCE

Required

Reviewed

Recognised & Rewarded

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The Back Office and Accounts staff follow a system of a Daily Log which in itself acts as a P.O.A. against which he or she is able to monitor their own output .

The system is as given below….

3 STANDARD ACCEPTED PRACTICE FOR DAILY LOG CUM PLANNER :

We are co-ordinating with Our Team Leader regarding work through Daily Log cum Planner which we daily send to her.

Introduction to Daily Log cum Planner========================

The Daily Log cum Planner is to help the associate to work in a focused, efficient andproductive manner.This is a tried and tested system which is user friendly.

Guidelines for Daily Log cum Planner======================

1] Every associate will have a Log Book which he / she has to send to the Team Leader every day without fail after recording the necessary data in that.

The Label on the book should read as

HIGH PERFORMANCE

DISCUSS & SET GOALS

DEVELOP P-O-A

MONITOR &

REVIEW

APPRAISE RECOGNIZE REWARD

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“ Name of associate : From.... [date when u start ] To ....[ date when your book finish] “

2] Number the book as well as each page.

3] Attach the SAP of Daily Log cum Planner at last page of book.

Following headings should be there and not applicable then should write Nil.

TYPE OF WORK DURATION IN MINUTES

1. Daily Routine Work2. Particular work3. Our Team Leader to do4. Changes required in the programme5. Problems6. Teaching programme7. Learning programme8. Work not done C/f Time alloted Work done instead Time Taken9. Urgent work done10. E mails sent11. E mails recd.

4] On last page of the Log Book make a chart : POA Not sent Daily Log cum Planner not as per SAP Work not done as per P.O.A. 5] Day & date on top & no other matter which is from Daily Log cum Planner.

6] Approximate time for each job function a must.

7] Approximate Quantity must be written wherever possible as this gives An indication of time utilized. eg. Prepare 7 contracts [15 min.] Dispatch 15 contracts 10 min Write 10 cheques. 20 min

Sometime one will under estimate the time for reasons beyond your control .A brief explanation is required. This will help to form systems or make changes in programme. If you over estimate the time you will utilize the time for other Job Functions

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8] Remember you have 9 hrs only so P.O.A. must not be for 12 Hrs.

9] If dependent on co-associate for details see that the same is with you before you incorporate the same in the day’s Daily Log cum Planner

10]Incorporate your partners’ work if they are on leave. You should be aware of the same. After partner resumes from leave give him/her the list of his work which you have done/not done in writing.

11] Before writting the PoA for next day,first mark the work not done c/f.

12] Relevant explanation must be given instead of Our Team Leader asking for it.

13] Work to be submitted on a particular date must be completed 2 to3 days before as far as possible.

14] There will be different headings for your work : under each heading sr. no. 1, 2 , ..... for each work

Daily Routine : [for work which u do daily] Particular work : [ which u have to do on particular day like salary on 1st, some reports ] For Our Team Leader : Anything which she suppose to do Like chq series additon, update sale deal etc programme : [anything related to

finance, Back office, Converyance, travel, PM] Any problems you have in programme any changes you want- any chanegs you suggested but not done to reminder Problems : [Any problem with clients, follow up, old problematic cases] E mails , ICQ 15] At the end write no. of total minutes and divide by 60. Eg. Total 545 min

545/60 = 9 hrs 5 min

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16] Print out the Daily Log cum Planner and attach in book. 17] Reply with green pen for Our Team Leader's all questions/queries.

18] At the day end write down E mails sent & E mails recd. E mails sent : To Reason ABC …………. XYZ ………..

E mails received :

From Reason ABC …………… XYZ …………..

19] When Book not sent by associate, write down in book POA not sent on the last page chart.

20] When Our Team Leader has not sent book for any reason then write done on a paper and sent in file clip for that day.

21] Whenever work not done for a particular day, then cut paste that sr. no. and make a heading as below :

Work not done Reason

22] What time u have wriiten for urgent work then at day end, when you are making POA for next day write down what urgent work you have done with time.Urgent work Time

XYZ [20 min]ABC [10 min]

23. Whatever work done for the day , please tick mark and not donw write c/f on the left side. eg. c/f 1. bank entry .....

24. whatever work not done and c/f for next day then in next day write b/f against that work. eg. 1. bank entry ..... B/f

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25. When you have appointment with somebody then in Daily Log cum Planner write time of appointment, so that Our Team Leader knows and no need Our Team Leader to ask us.

26. For problems write date of problem.

27. If any associate moves from one desk to other or location/new associate joins then he must write in Daily Log cum Planner under heading Learning Programme:

eg. If X is Learning Programme From Details Y Tally P & L

And the associate who will teach should write heading Teaching Programme : [Y will write]

Eg. Teaching Programme To Details X Tally P & L Other Instructions :

1] Reports to give the auditors ==================== Explain or discuss with Team Leader esp if the work is going to take more than 15 to 20 min .

2] No one should keep any password in the computer for any files.

3] If any one wants to open a month they must enter in Daily Log , cut paste & icq Our Team Leader . she will only open it. After finishing the work they must inform Our Team Leader to close, & check if she has done so.

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SETTLEMENT OF DUES POLICY

Policy statement

This policy defines the various types of separations from the employment of the Company and the effect of separation on benefits and continuous service.

Applicability

This policy will apply to all confirmed associates. With the exception of the severance pay section, this policy will also apply to temporary / probationary / trainee associates.

Types of Separation

A. Voluntary Termination occurs when the associate initiates the separation. The following are examples of voluntary terminations:1) Written resignation.2) Retirement.

B. Involuntary Termination occurs when the associate does not initiate the separation. The following are examples of involuntary terminations:

1) Release without fault—when an associate, through no fault of his/her own, is unsuited for or incapable of performing work assigned and no appropriate change of assignment is available.

2)

A. Discharge—when an associate who is suited for and capable of performing the work, is terminated for such reasons as inefficiency, absenteeism, and violation of rules of conduct set forth in the Associate Manual, including, but not limited to, habitual carelessness or recklessness, disorderly conduct, insubordination, theft, leaving work before quitting time without permission, falsification of records.B. Death of the associate.C. Disability—when, on the basis of medical evidence, an associate is totally and permanently disabled from performing his usual work assignment and thus eligible for disability benefits.

NOTICE PAY:

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If the Associate does not give the notice period as applicable to him then he shall have to pay to the company an amount equivalent to the number of days of short notice given as against the total notice period to be served out and the amount shall be calculated on the basis of a 30 day month and shall be on the GROSS MONTHLY SALARY basis ( which includes basic, HRA, Transport Allowance, Spl Allowance and amount pertaining to Sodexho passes ). Please note that the notice pay will not be offset against the dues payable by the company. It will be an arms length transaction whereby the Associate will make good the pay in lieu of short notice period and then the company will release all the dues to the Associate.

The complete clearance of all dues to the Associate will be done only after ascertaining that there are no other dues to be received by the company including mobile bills, advances on account of travel etc.

Severance Pay

The Company will make severance payments described below to eligible associates whose employment by the company or any of its divisions or subsidiaries is involuntarily terminated and who are not re-employed by the Company or any of its divisions or its subsidiaries or successors within the ensuing payroll date subject to their being no dues outstanding to the company. No severance pay will be granted for separations, which are the result of voluntary termination. The dues accrued to a voluntarily terminated associate will be paid within a maximum of 4 weeks of his last working day in the organization.

ALL DUES PERTAINING TO SEVERANCE WILL BE MADE THROUGHT HE PAYROLL PROCESS ONLY.

BEFORE ANY ASSOCIATE IS RELIEVED FROM THE SERVICES THE HR DEPT WILL ENSURE THAT THE CLEARANCE CERTIFICATES FROM THE TEAM LEADER, ACCOUNTS AND BACK OFFICE DEPARTMENTS ARE ALL OBTAINED.

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Disciplinary Warning

Associate Name__________________ Incident Date_______________________Warning Date____________________ Prior Warning Date__________________

Reason for Warning

[] Violation of Work Rules [] Excessive Absence[] Violation of Company Policy [] Excessive Tardiness or [] Others (Specify) ______________________________________________ Type of Warning[] Oral Warning[] First Written Warning[] Second Written Warring[] Final Written Warning

Team Leader Comments

Associate Comments

Signatures

I understand similar violation of company policy will be cause for further discipline up to and including termination.Associate DateTeam Leader DateHuman Resources Date

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Associate Handbook Agreement

The undersigned associate hereby acknowledges that he/she has received and a copy of the Associate Handbook for Darashaw & Co. Pvt. Ltd. / Darashaw Securities Pvt. Ltd.

The associate further understands and agrees that:

The handbook is intended to be a guide to the rules, policies and procedures of Darashaw & Co. Pvt. Ltd. / / Darashaw Securities Pvt. Ltd.

and is not an employment letter or a guarantee of employment.

All the rules and regulations mentioned in this handbook are binding on the Associate and they supersede and of the terms and conditions given earlier in any letter of appointment given by the company to the associate

The Company reserves the right to make changes to the associate handbook with prior notice of 15 days and the changes will be binding on the associate..

Associate Statement

I acknowledge receipt of the Company’s associate handbook and understand that it is up to me to read and familiarize myself with its contents. I have read and understood all of the above information, and I acknowledge the above and agree to follow the same.

________________________Associate Signature

________________________Associate Name

________________________Date

Note: The acknowledgment form duly signed must reach the Human Resources team within 7 working days of the receipt of the associate handbook.

For amendments or updates please contact HR Department at Regent or email: hr-team@darashaw.com

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TRAVEL BOOKING SLIP

WE LOOK FORWARD TO YOUR SUPPORT IN FOLLOWING THE RULES AND PROCEDURES OUTLINED IN THE ASSOCIATE

HANDBOOK.

- HR TEAM@ DARASHAW

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Associate Handbook

Office : _____________________

Company : __________________ Date : _______________

Associate Name : ____________________ Desk : ____________

Travel Date : _____________ Travel Time : ______________

Destination : ______________ Expected Date of Return : ________

Mode of Travel : Bus / Train / Taxi/ Air

Class of Travel : II AC / Ist AC / Ist Class / II Class / Y class/ J class

Purpose of Travel : _____________________________

Associate sign : ___________ Authorised by : ______________

To be filled in by Reception Desk / person handling bookings.

Name of the Travel Agent : ___________________

Booked by : ____________ on date : ____________

Documentary Requirement For Cash / Credit Card Entertainment Facility

Date of expense: __________ Name of Employee(s) Entertaining: ___________________________

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Nature of Entertainment: Wholly & Exclusively For Official Purposes

Client(s) Entertained ( Company Name(s) ) :______________________________________________

No . : Persons Entertained : ___________

Names of Persons Entertained Designation

Amt Spent on Credit Card / by Cash Rs.

Amt recovered form employee, if any Rs.

Certificate By Employee Certificate By Employer

I, ________________________ hereby certify that the expenditure incurred above by me was wholly and exclusively for Official Purpose.

I, ________________________ hereby certify that the expenditure incurred above was wholly and exclusively for Official Purpose.

Sign: _______ Desig: __________ Date : ________ Sign: _______ Desig: __________ Date :______

Please attach the required Bill/(s) as supporting evidence to this Form cum Certificate.

------------------------------------------------------------------------------------------------------------------------------------------------

LTA CLAIM FORM

COMPANY NAME : _____________________________________________

1. Name Mr./Ms./Mrs. : ______________________________________

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2. Period of Leave From ___________________To ________________________

3. Date of Travel Outward ______________ Return ___________________

4. Places Visited for which LTA claimed__________________________________

5. Mode of travel Air ______Rail ______ Other __________ ( Please tick whichever is applicable )

6. Number of members in the family who have traveled _____________________ (including spouse, children & dependent parents, brothers and sisters )

7. Actual expenditure : outward journey : fare rs. ________________

return journey : fare : rs. _________________

total expenditure : fare : rs. _________________ 8. Original tickets of outward and inward journey enclosed : yes / no

I hereby declare that the particulars furnished in the above form for L.T.A. are true and correct.

Date : ________________________ ______________________________Associate Signature

Certified that the period of leave mentioned above has been sanctioned and debited to Privilege Leave of the Associate

Eligibility Limit (A) : _______________________

Expense restricted to Economy Air Fare By shortest route to place visited (B) : _______________________

Portion of Expenditure ie. Tax Exempt (C): ________________________Lower of A and B

Balance payable as Taxable (D) :____________________________Ie. A - C

Sign of Person Authorising : ____________________

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DETAILS OF ACTUAL EXPENDITURE FOR LEAVE TRAVEL ASSISTANCE

Name Age Relationship with associate

Travelling

From To

Distance in Kms

Mode of travel

Ticket No.

Fare Rs.

Note :

1. If the journey is performed by Air / Bus / Train , original tickets for to and fro travel issued by the airlines must be enclosed along with the form for claiming tax deduction

2. LTA is exempt from tax only if claimed twice within the designated block of four years

3. Minimum of 5 days leave is necessary to be taken for being eligible to claim LTA

MEDICAL EXPENSES REIMBURSEMENT Quarter No : Year :

Name : Dept : HRD

Bill No. Bill Date Amount     

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                                                                                                                                                 Kindly reimburse me the above expenses incurred by me for myself and my family

______________________Signature Date :

Date:

ToThe Administration Dept.

Subject: Mobile bill reimbursement

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Associate Handbook

Sir,

Please reimburse me my mobile bill amount, which has already been paid by me the details of which are given below,

Particulars Amount in Rs. RemarksMobile Bill amount(less) Personal usageAmount to be reimbursed

Please explain in case the bill amount exceeds the limit.

Enclosed:1. Copy of the mobile bill.2. Copy of Itemized bill3. Proof of payment.

(Signature – Sanctioning Authority) (Signature Employee)

Note: Please submit your bills with all the supporting documents before 20 th of every month.

CONVEYANCE EXPENSES CLAIM FOR USE OF MOTOR CAR OWNED BY EMPLOYEE

Company : _______________________________

Name of Claimant : ___________________ Designation : ____________________

Team : ________________________ Location : __________________

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Period : _________________ to _____________________

Expenses : ______________ Kms @ Rs. ______ per km = Rs. __________________

Kindly reimburse me the conveyance expenses as per the rules of the company

For use of my personal car for official purposes. The copy of the log book

Maintained for the purpose is enclosed. I certify that the amount claimed herein

is solely for use of my car for official purposes.

Signature : ______________________ date : _________________

I , _______________________________, designation _____________________ certify that

the above expenses are related to official purposes.

Signature of Sanctioning Authority : _______________

Date : ____________________

Enclosed : Copy of Log book