Document Revision History -services.com

[Pages:7]Vee Technologies Pvt Ltd

Department

: Human Resources

Document Title

: Separation Policy

Document Number : VT-HR-16

Document Revision History

Sl.

Date Revision No. of

No.

Status Pages

1 15-May-2010 R0

4

2 7-Mar-2015 R1

5

3 20-Oct-2021 R2

7

Description of Changes New Document

Prepared By & Date

Reviewed By & Date

Manager HR SBU Head

Approved By & Date

COO

Salary Advance clause added Notice period days updated

15-May-2010 15-May-2010 15-May-2010 7-Mar-2015 7-Mar-2015 7-Mar-2015 20-Oct-2021 20-Oct-2021 20-Oct-2021

Human Resources Department

Internal

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Vee Technologies Pvt Ltd

1.0 Objective

? Every VEE employee to have a clear perspective and transparency on the final settlement on exit from the company.

? This document outlines the ways in which a working relationship can be terminated, either by the employer or the employee. The following differentiations can be made: The employer may end the relationship due to the conduct or capabilities of the employee or the employer's operational requirements. The employee may end the relationship by way of resignation The employment relationship can come to an end through effluxion of time such as the expiry of contract.

? The document outlines the procedures to be followed in each instance.

2.0 Scope:

? Inform ways in which the employment relationship can be terminated by both the employer and the employee

? Enable a method to determine why its employees are terminating the working relationship with the help of Exit interview

? Help provide a harmonious termination of the employment relationship ? Retention of employees through Career Counseling / Retention talk.

3.0 Procedure:

3.1 Termination by the Employee:

3.1.1 Resignation:

? When an employee decides to leave, he/ she should submit a formal resignation letter to their department. The resignation should be routed through the reporting supervisors and the concerned vertical head.

? The supervisors should make all attempts to retain a good employee and also ascertain the correct / real reasons for exit.

? The resignation letter is submitted to the Human Resources Department with comments from the reporting supervisors on their performance, attitude, potential and reason for exit. The HR team tries to retain the employee through counseling and accepts the resignation only if there is no possibilities for retention.

? All employees who wish to separate from the company need to serve a notice period as per the agreed terms in the appointment letter. Notice period will vary based on the role and designation. The notice period for employees at executive level is 30 days normally.

Human Resources Department

Internal

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Vee Technologies Pvt Ltd

Notice Period Table

During Probation

On Confirmation

# Department

All

Trainees/ Executive/Senior Executives

TC/TL/Sr TL

AM & Manager

Senior Manager and Above

1 Business Process Excellence

30

30

45

60

90

2 Administration

30

30

45

60

90

3 CEO Office

30

30

45

60

90

4 Finance

30

30

45

60

90

5 Compliance

30

30

45

60

90

6 MARCOM

30

30

45

60

90

7 IT Support

30

30

45

60

90

8 Analytics & IT

30

60

60

90

90

9 Business Development

30

30

45

60

90

10 IT Services Business Development 30

30

45

60

90

11 Human Resources and L & D

30

30

45

60

90

12 Strategic Alliances

30

30

45

60

90

13 Corporate governance

30

30

45

60

90

14 Purchase

30

30

45

60

90

15 HireMee

30

30

45

60

90

16 Media Tracking & Analytics

30

30

45

60

90

17 E Governance

30

30

45

60

90

18 Animation

30

30

45

60

90

19 Insurance Processing

30

30

45

60

90

20 Legal Transcription

30

30

45

60

90

21 Logistics

30

30

45

60

90

22 Medical Billing

30

30 (Incl OJT,QA) 60

60

90

23 Medical Coding

30

60

60

90

90

24 Engineering Services

30

30

60

60

90

25 Vee Protect

30

30

60

60

90

26 Aerospace

30

30

60

60

90

? If management is in favor of releasing an employee through a notice period buy off, the employee pays for the notice period and exits prior to the completion of the notice period.

3.1.2 Abscondment:

? In terms of the Code of Conduct, an employee who goes on uninformed leave for more than 5 days, it is treated as absconding from work. An absconding letter is sent on the 5th day of uninformed absence and access to company facility and system is blocked.

? If employee reports to duty with a valid reason for the uninformed leave, Company may

Human Resources Department

Internal

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Vee Technologies Pvt Ltd

consider his/her rejoining. Employee has to submit a letter undertaking on updating the company on further leaves. ? If any further intimation is not received from the absconding employee he/she is deemed to have terminated the employment without intimation to company and a formal termination letter is sent out to the employee on the 15th day of his absence.

? Appropriate legal action will be initiated on the absconding employees for any dues to the Company

? Employees who abscond from work are liable to pay the shortfall of notice period dues and the bond amount to the Company to ensure there is no legal action from the Company for the dues from the Employee.

3.2 Termination by the Employer:

3.2.1 Dismissal for misconduct:

A dismissed employee shall be paid out in relation to any notice period contained in the appointment letter. However, where there has been gross misconduct or a complete breach of the employment contract (e.g. theft or fraud), an employee may be summarily dismissed. Dismissal is then with immediate effect and the employee shall be paid up to the date of the dismissal only.

3.2.2 Dismissal for non-performance:

An employee who is observed as a non ? performer is intimated well in advance. A performance improvement plan with enough notice periods is given. If they don't show remarkable

improvement as mentioned in the plan the non performing employee is released from the service as mentioned in the performance improvement letter.

3.3 Exit Interview:

Employee leaving the employment will be called to attend the exit interview on the last working day of their notice period or within 3 days from their last working day. Employee should be encouraged to discuss their working experiences freely and frankly. In this way exit interviews can help identify problem areas within the workplace. The information generated in the interviews can be evaluated, patterns identified and the necessary steps can be taken to resolve raised issues and problems. This will be confidential.

The procedure for facilitating exit interviews is as follows:

? The departing employee is asked to complete a questionnaire. Special provision is made in the interview questionnaire where the departing employee may make any comment.

? The exit interview should be conducted after the counseling session / retention talk held

with the employee.

? The findings of a general nature that arise from the exit interviews will be reported to the

relevant senior management.

? Inputs from the exit interview are evaluated carefully and any concern areas are addressed

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appropriately.

3.4 Final Clearance:

All employees separating from the company should complete the final clearance formalities (Surrendering the ID card, food coupons to the HR department, and sending requisition mail to system admin to deactivate or re- route the mail ID) and submit the clearance report to the HR department on the last working day. As an exception the clearance can be done within 15 days of separation and any exits in violation of this cannot be treated amicably. HR department ensures final clearance is done on the below areas before getting their final settlement:

3.4.1 Recovery of Bond/ Training amount:

If an employee leaves the company before the period mentioned in the non disclosure agreement (NDA), the bond / training amount will be adjusted against the final settlement.

3.4.2 Loan Settlement:

? If an employee has availed loan and submits his resignation, the balance due against his loan is to be settled by the employee to get a clearance on his account.

? If the loan amount is higher than the salary due to the employee the balance amount should be cleared through a demand draft/Cheque. If the balance amount is settled through cheque the final clearance will be signed subject to realization of the cheque. Only in case of extreme emergency cash settlement is accepted and documented by the HR department through an email to accounts team on the fund collection.

? The loan amount will be recovered from the salary and the remaining salary if any will be paid along with the final settlement.

3.4.3 Reimbursement and advances:

Travel expenses if any made by the employee, advance received from the employer if any should be cleared and completed before the last working day.

3.5 Leave during Notice Period and Encashment of Leaves:

3.5.1 Leave Encashment during notice period: Every employee is entitled for the following leave.

Casual Leave ? CL

Available Leave 1 Day / month

Flexible ? FL

0.5 Day / month

Earned Leave ? EL(Credited after 1.5 Day / month one year from date of joining)

12 days / year 10 days / year 18 days / year

Human Resources Department

Internal

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Vee Technologies Pvt Ltd

Earned Leave (EL) is pertained for encashment and cannot be adjusted against notice period. Casual leave (CL) and Flexi Leave (FL) cannot be encashed. Casual leave by its nature cannot be adjusted against the short notice; same is the case of Flexi or Sick leave and EL Earned Leave.

Earned Leave encashment = Number of EL X (Basic + DA / 30 days)

3.5.2 Leave during notice period:

Leave during notice period is not encouraged. Due to unavoidable circumstances a maximum of 1 Flexi leave FL and 1 Casual leave CL can be availed. Earned Leave EL cannot be availed during notice period. No compensatory off to be availed during notice period.

3.6 Final Settlements:

Final Settlement is paid by cheque, within a maximum period of 45 days from his last working day, subject to final clearance completed on the same day. The employee should collect his final settlement within the stipulated time.

Final settlement is done only if final clearance form and exit interview form is completed.

? If an employee submits his resignation before 7th of the month, salary will be released along with the final settlement.

? If an employee submits his resignation on or after 7th, salary will be released as per regular payroll. The amount due from next salary cycle till the last working day will be released along with the final settlement.

? If the employee serves a notice period, he / she is entitled to incentive of previous month. If notice is not served there is no incentive and the previous month incentive is paid subject to consistent performance in Notice period.

3.7 Calculation of payout:

Salary is calculated between 27th of previous month and 26th of current month.

Example 1: Salary for the month of May is calculated between 27th of Apr ? 26th of May and paid in June.

Example 2: If an employee resigns from service on 10th May, he is entitled to serve a notice period as per the agreed terms in the offer letter (Calculated for 1 month -30 days) and could get relieved on 9 Jun.

The salary for the month of May would be calculated as per example 1 and paid on June. The remaining period from 26th of May to 9th June would be given during the final settlement.

If management is in favor of releasing an employee through a notice period buy off, the employee

Human Resources Department

Internal

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Vee Technologies Pvt Ltd

pays for the notice period and exits prior to the completion of the notice period. All other settlements are as per the regular policy.

Employees serving notice will have a need for Salary Advance, as employees would serve notice for 45 days/60 days/ 90 days will have to wait for their Final Settlements for 2 to 4 months.

Employees should approach their HOD and place a request for Salary advance. HOD should evaluate the request and send an approval mail to HR Team for processing.

80% of the Fixed Salary can be processed as Advance.

Put for Approval by

Approval by

Signed by Soujanya Prakash Date: 2021.10.22 19:17:27

Soujanya Prakash Vice President ? Human Resources

Signed by Muralidhar P Date: 2021.10.27 15:53:08

Muralidhar P Chief Operating Officer

Human Resources Department

Internal

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