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    Offer Letter

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    rudra
    The document is an offer letter from VGL Group offering Mukul Mehta the position of MDM ASSOCIATE. The yearly CTC being offered is Rs. 300,000. The offer letter provides details of compensation including basic salary, HRA, allowances, provident fund contributions, gratuity and other benefits. Mukul is asked to join on October 17, 2022 or the offer will be withdrawn and a detailed appointment letter will be issued upon joining.

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    Offer Letter

    Uploaded by

    rudra
    204 views3 pages
    The document is an offer letter from VGL Group offering Mukul Mehta the position of MDM ASSOCIATE. The yearly CTC being offered is Rs. 300,000. The offer letter provides details of compensation including basic salary, HRA, allowances, provident fund contributions, gratuity and other benefits. Mukul is asked to join on October 17, 2022 or the offer will be withdrawn and a detailed appointment letter will be issued upon joining.

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    The document is an offer letter from VGL Group offering Mukul Mehta the position of MDM ASSOCIATE. The yearly CTC being offered is Rs. 300,000. The offer letter provides details of compensation including basic salary, HRA, allowances, provident fund contributions, gratuity and other benefits. Mukul is asked to join on October 17, 2022 or the offer will be withdrawn and a detailed appointment letter will be issued upon joining.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    204 views3 pages

    Offer Letter

    Uploaded by

    rudra
    The document is an offer letter from VGL Group offering Mukul Mehta the position of MDM ASSOCIATE. The yearly CTC being offered is Rs. 300,000. The offer letter provides details of compensation including basic salary, HRA, allowances, provident fund contributions, gratuity and other benefits. Mukul is asked to join on October 17, 2022 or the offer will be withdrawn and a detailed appointment letter will be issued upon joining.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

     

    October 17, 2022


    Mukul Mehta
    4, Ganpati Vihar, Near Mewar Vidhya Mandir
    Udaipur 
    Rajasthan   
    IN
    313001

    Subject: Offer Letter

    Dear Mukul

    Congratulations!

    You will be joining one of the fastest growing companies in one of the most dynamic
    industries in India.

    We are pleased to offer the designation of MDM ASSOCIATE with VGL Group.

    Your yearly CTC will be Rs. 300000 /-

    You will be entitled to other benefits as per the company’s policies in force.

    We are looking forward to you joining us on October 17, 2022, failing which this offer will
    automatically stand withdrawn.

    A detailed letter of appointment will be issued to you at the time of your joining the
    organization.

    Welcome to the VGL Family!

    For Vaibhav Global Limited

    Hitender Gautam

    Talent Acquisition Head

    Page 1 of 3
     

                                                       Annexure : Compensation Details


    Name Mukul Mehta
    Designation MDM ASSOCIATE
    Department CORPIT (CORPIT)
    Salary Component INR per Month INR per Annum
    Basic Salary 50 % of CTC ₹12,500.00 ₹150,000.00
    HRA @ 40 % of Basic ₹5,000.00 ₹60,000.00
    Uniform Allowance  (Tax Free Component) ₹1,500.00 ₹18,000.00
    Other Allowance (Balancing Component) ₹2,231.00 ₹26,771.00
    Pay Slip Gross (A) ₹21,231.00 ₹254,771.00
    Provident Fund @ 12% of Basic Salary (Employer contribution) ₹1,800.00 ₹21,600.00
    Statutory Bonus* ₹1,400.00 ₹16,800.00
    Gratuity (4.17% of Basic Salary) ₹601.00 ₹7,212.00
    Sum (B) ₹3,769.00 ₹45,228.00
    CTC (A+B) ₹25,000.00 ₹300,000.00
    Provident Fund @ 12% of Basic Salary (Employee contribution) ₹1,800.00 ₹21,600.00
    ESIC - Employee Conribution (@ 1.75% of (Gross-Uniform Allowance) ₹148.00 ₹1,776.00
    Sum (C) ₹1,916.00 ₹22,992.00
    Net Takehome Salary before Tax (A-C) ₹19,315.00 ₹231,780.00

    Terms & Other Benefits

    Probation Period:- 6 months since date of joining employee will be on Probation. Your services will be
    automatically confirmed on expiry of the probation period unless specifically informed about an extended period
    of probation.

    Gratuity is applicable as per Gratuity Act, 1972


    Statutory Bonus as per Payment of Bonus Act*
    ESIC Applicable

    Performance Appraisal:- Employee who will Join after 15th Dec will be appraised in next fiscal year and will be
    paid arrears from his/ her date of completion of 1 year.

    Working Days:-
    6 Days

    Leaves/ Holidays:-

    i. 10 National/ Festival Paid Holidays


    ii. 15 Privilege Leave (PL). Can be accumulated up to maximum 30. PL are Non-Encashable.
    iii. 7 Casual Leaves. Unavailed leaves at the end of the calendar year will lapse.

    Accidental Insurance:- In case of Death during official duty insured Employee's family will get 24 times of his
    Gross salary or up to Rs. 5 Lac Max.

    Insurance-Linked Gratuity:- Gratuity is linked to LIC (Life Insurance Cover). In case of death of an employee,

    Page 2 of 3
    payable insurance will be the amount equivalent to as it might have come to have the employee lived till
    retirement age of 58.

    EDLI (Employee Deposit Linked Insurance) from LIC:- On death of an employee amount payable through EDLI
    is up to Rs. 6,00,000/-

    Tax:- All the taxes will be borne by the individual and not by the company.
     

    Hitender Gautam

    Talent Acquisition Head

    Page 3 of 3

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