POLICY

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POLICY &

GUIDELINES

Loan & Salary Advance Policy

EFFECTIVE DATE

POLICY No. & VERSION

ISSUING DEPARTMENT

TOTAL NO. OF PAGES

August 01, 2019PVR LIMITED BHlRoc/k2A01, 49th/LFoloanor&, BSuailladriyng No. 9A, DLFHCuymbaenr CRietsyo,uPrhceasse III, Gurgaon 12200028(Haryana)

T: +91 124 4A7d0v8a1n0c0e PoFl:ic+y9/1V1e2r4sio4n7018.3001 W: E: info@

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Index

Content

Page No.

1. Preamble 2. Scope 3. Loan

A. Guiding Principle B. Eligibility C. Process of Loan Application & Approval 4. Salary Advance A. Guiding Principle B. Eligibility C. Process of Salary advance application & Approval 5. Management Discretion 6. Policy Review / Amendment / Modification 7. Loan Application form (Annexure I) 8. Salary Advance Application form (Annexure II)

03 03

03 03-04 04-05

05 05 06 06 06 07 08

x------x-----x

PVR LIMITED Block A, 4th Floor, Building No. 9A, DLF Cyber City, Phase III, Gurgaon 122002 (Haryana) T: +91 124 4708100 F: +91 124 4708001 W: E: info@

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Preamble

Life throws unforeseen challenges and circumstances. Sometimes, these critical conditions require financial soundness to ward off panic & crisis associated with such events. On the other hand, there are `once in a life time' events which require higher expenses than one can afford.

This policy guides our philosophy to support employees with financial help for such events which demand immediate attention and mitigation. These events may be associated not just with employees but also for their immediate dependent family members including marriage, medical emergency, and repair of home.

Scope

Applies to all confirmed on-roll employees (M & E Grade) across all PVR group companies

Loan

1) Guiding principles

An employee can avail only one loan at any point of time. Employee will have to submit all supporting documents pertaining to the event for which loan is

been sought along with the prescribed application form. The loan availed will have to be repaid/settled in maximum 9 Equal Monthly Instalments. Interest @ 12% will be charged to employees if numbers of EMI are greater than 9 EMI's, EMI deduction will be effected through payroll and deductions will be made from the next payroll

cycle of the month in which the loan got disbursed. New loan request can be submitted only after an interval of minimum 24 months from the last

instalment recovery of the previous loan All matters of dispute will be subject to jurisdiction of Delhi High Court. In case the employee resigns from his/her services before repayment of the loan:-

o Employee would be required to pay back the outstanding loan amount on or before relieving date, otherwise interest as per the financial guidelines will be charged on outstanding amount and will be recovered from employee's full and final settlement.

o Relieving & Experience letter would be given to a resigned employee only in case where the outstanding loan amount if any has been recovered.

All applicable taxes occurring on account of the loan amount would be borne by the employee.

2) Eligibility:

All confirmed employees of PVR Ltd with at least a year of service are eligible for company loan, the maximum amount of loan defined according to the service bracket of employees. Loan entitlement will be based on gross salary (Gross salary would mean fixed salary) excluding the following components:

Reimbursements (medical,LTA, car hire charges, fuel, car repair and maintenance, driver salary etc.) Variable pay (PLI) Social security contributions

PVR LIMITED Block A, 4th Floor, Building No. 9A, DLF Cyber City, Phase III, Gurgaon 122002 (Haryana) T: +91 124 4708100 F: +91 124 4708001 W: E: info@

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The service bracket for loan eligibility is as indicated below:

Service tenure ? 3 years Service tenure ? 3 to 5 Service tenure ? 5 years

or less

years

and above

M-3 to M-6 Grade

2 months gross salary 3 months gross salary 4 months gross salary

E Grade

3 months gross salary 4 months gross salary 4 months gross salary

The loan amount shall only be approved for: a) Marriage of self/dependent family member (brother, sister, son or daughter only) on declaration by the employee b) Medical exigencies of self and dependents (parents, spouse and kids) c) Buying of own house ? First house (not for investment purpose) [If spouse or self has an existing house in either's name, then it will not be allowed] d) For higher education of self & dependent (Spouse and kids) e) In case of death in the immediate family (Bereavement Loan) i) All employees (On probation or confirmed) on rolls of PVR will be eligible for bereavement loan, irrespective of pendency of any other loan. ii) Bereavement loan may be granted up to a maximum limit of INR 50,000.

3) Process for Loan Application & Approval

Employee should request for loan approval from his/her HOD through the reporting supervisor/ manager in writing by filling in the "Loan Application Form" (Refer Annexure-I). o For better understanding Category?I : All E-1 & below employees Category?II : All M3 to M6 grade employees

HOD will share his/her recommendation in the form and forward the same to the concerned HR SPOC/ Regional HR for taking approval at the next level.

a. For cases where request is as per policy: HOD to approve first followed by CHRO's approval.

b. For exceptions ? Any loan request which is an exception to the policy shall have to be reviewed by a Committee comprising:

(i) CHRO (ii) Sr VP Corp Comm and CSR/ Sr VP Legal (iii) COO-Strategy/COO-Operations (iv) CGDO (v) CEO (vi) CFO

The committee shall review all exceptional loan requests once a month and the decision to grant an exceptional loan to employee should be approved by a quorum of minimum four members including CFO and respective COO-Operations if applicable.

PVR LIMITED Block A, 4th Floor, Building No. 9A, DLF Cyber City, Phase III, Gurgaon 122002 (Haryana) T: +91 124 4708100 F: +91 124 4708001 W: E: info@

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Post getting the necessary approval as mentioned above, HR SPOC/ RHR will forward the request form in email with approval to payroll team and payroll will commence deduction as per schedule under this policy.

Payroll team will forward the request with requisite details to Accounts team to disburse the loan in favour of the employee via direct credit to his/her bank account.

Please Note: Since our organization has pan India presence with certain functions present at regional locations, thus

for the purpose of this policy, the term "HOD" for E grade & M grade shall denote : E Grade :HOD at VP level; If HOD is not at VP level then the superior of HOD at VP & above level M Grade: Functional Head (Minimum VP and above) and CHRO;

Any outstanding loan shall be immediately be recovered in full against the salary, in case of employees who have resigned/terminated.

No flexibility on loan terms, eligible amount and payback period shall be entertained. No direct loan/advance shall be given at the cinema. Accounts will disburse loan only on written request of the payroll team member. Not more than one exception per quarter will be entertained per function.

Salary Advance

1) Guiding principles

An employee can avail only one salary advance at any point of time. Salary advance will be settled in full amount from next salary due of the employee. For availing salary advance the approval of immediate supervisor/ manager is must and that

supervisor or manager must be of at least M5 grade. Management reserves the right to approve or deny any advance request. In case employee decides to separate before the settling the advance amount, he/she will be

required to settle the full amount of advance due before date of leaving. Advance requests cannot be clubbed with loan requests. Advance availed for a specific purpose or

event, must be specifically used for that purpose only. If an employee has taken loan, he/she cannot apply for advance unless the last EMI of loan is paid

and there is no outstanding loan balance against his/her name. Requests for salary advance may be granted only on an emergency basis and after an employee has

exhausted all other options or available resources. "Emergency" is defined for this purpose as an unforeseen event involving medical and life or safety

situations beyond an employee's control. Salary advance cannot be granted more than twice in any fiscal year to the same employee.

2) Eligibility

All confirmed employees with at least 6 months of continuous service will be eligible for taking salary advance. The maximum amount of salary advance can be equivalent to 75% of monthly gross salary of the said employee irrespective of grade. (Gross salary would mean fixed salary without reimbursement (as defined above), variable pay (PLI) and social security contribution.)

PVR LIMITED Block A, 4th Floor, Building No. 9A, DLF Cyber City, Phase III, Gurgaon 122002 (Haryana) T: +91 124 4708100 F: +91 124 4708001 W: E: info@

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