SEPARATION POLICY

Purpose:

The policy stipulates in maintaining a smooth off-boarding process of employees at PVR

Controls, across all levels, whereby conditions pertaining to separation owing to cause
associated with voluntary, involuntary, retirement, superannuation or death. The policy
also attracts provisions related to separation falling within the purview of the local law of
land.

To ensure separation from services of the company is complete in all respects and the
successor is suitably oriented to take over the assignment so as not to jeopardize the
working system in the interest of the organization.

Applicability:

The separation policy is applicable to all employees in the organization may it be

permanent or contractual. However, clauses related to notice for contractual employees
will be governed as per agreement.

Governing Clauses:

The section provides brief directions to exercise / adherence to the policy and establishes
the acceptable standard across the organization.

Modes of Separation & Procedure:

The section indicates various modes for an employee to exit from the organization, also
stipulates the standing operating procedures involved through various modes
mandatorily needs to be followed.

1.Voluntary:

A. Resignation:

Employee tenders’ resignation by self-initiation, either by an email / written

communication marking the manager and HR or initiating through the system, if
permitted. Manager can approve / accept the resignation within 7 working days or in
case of revocation the response from manager / employees should come within the 7
working days of resignation. In case of acceptance the resigned employee will serve
notice period as per the contract of employment and rules falling therewith. The
employee needs to specify clearly the matters related to resigning from the position
marking the HR representative in loop. The HR team will connect with the employee
whether the employee is leaving due to career growth, personal reasons or negative
persuasions.

Prior to the employee's last working day, the employee needs to complete all exit related
formalities. On completion of the formalities by the employee, the full & final settlement
will be initiated. Completion of full and final settlement and release of relieving letter will
be subject to the concerned employee having completed handing over formalities to the
satisfaction of his immediate reporting authority and having obtained clearance from all
concerned departments as given in the Employee Exit Form.

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B. Expiration / Non-Renewal of Contract:

Employees falling under the purview of fixed term employment are primarily governed
by the clauses associated with terms and conditions mentioned in the contract. In
normal circumstances where an employee is fulfilling the obligations rendered as per
agreement, manager needs to intimate the HR team enclosed with the reason on
contract extension at-least a month before the expiry. The sole discretion for extension
rests with the Management. In case approval for extension is not received, the employee
is deemed to be separating from the organization. On contrary to the above conditions, if
the employee is no longer able to fulfil required obligations, either of the parties can
terminate the contract either by tendering the notice as per agreement clause or in case
effective immediately.

2. Involuntary (Termination / Dismissal):

Due to breach of code of conduct or performance related concerns the organization may
initiate disciplinary process leading to employee separation. The employee needs to
complete all exit formalities & leave the organization with immediate effect without
serving notice period. In such cases the employee does not receive a relieving letter,
only termination of service letter is provided, whereas Full & Final settlement is carried
out post the last working day based on fulfilling other conditions of employment.

3. Medically Unfit:

If an employee is declared medically unfit for employment by a qualified medical

practitioner as authorized by the company or incapacitated physically or mentally, the
Company has the right to terminate the employment.

4. Absconding / Prolonged Absenteeism from work:

In case an employee goes into an unauthorized leave for more than 4 working days and
does not respond to any communication from manager, HR or organization’s
representative, two official reminders shall be sent to the employees’ correspondence
address as updated in employee file via registered post. If there is no positive response
from the first registered post, then a second reminder shall be sent within a span of 5
days from the receipt of the acknowledgement of the first registered post. After
acceptance of the official reminder, the employee should positively report on duty within
7 calendar days failing which the employee is liable to be dismissed. In case, the
employee “Refuses to Accept” the registered post, their employment is liable for
termination by following due process as per the contract of employment with the
Company and applicable laws.

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5. Retirement or Superannuation:

The section provides brief directions to exercise / adherence to the policy and establishes
the acceptable standard across the organization. Retirement clauses will be as per the
current statutory norms and will supersede any other document or agreement.

1. Eligibility - All the permanent / full-time employees on the payroll of PVR Controls
are eligible to participate.
2. All full-time employees to superannuate as per rule of the land of their respective
land.
3. Experts in a niche field can be hired by following the proper structure as per
Government rules & guidelines.
4. Early Retirement to be conducted as per statutory rules; PVR Controls to
facilitate the process.

However, following are the situations where they won’t be compensated:

a. If during the restructuring of the company (including mergers and

amalgamations), if the employee resigns from the office but they are hired as a
consultant of the restructured company
b. If employee formally resigns out of their own volition
c. If the company is wound up due to the negligence or default of the employee or if
the employee is found guilty of fraud, breach of trust, gross negligence or gross
mismanagement in relation to the affairs of the company or any of its subsidiary
company

6. Death:

The date of death will be construed as the last date of employment. The date of death
will be as specified on the death certificate. The salary in this case will be computed for
the last month up to and including the last date of employment and will be credited to
the deceased employee’s salary account or to (or his / her nominee account). The HR
team will be initiating necessary benefits for which the employee was covered under at
the time of employment.

Exit Interview:

The HR department will contact an employee who voluntarily resigns to schedule an exit
interview during the employee’s last week of work.

Full & Final settlement:

Full & Final settlement will be processed post completion of exit formalities. Calculation
will be done based on number of days’ notice period is served, number of leave taken &
leave adjustment recovery if any. Full and Final settlement will be done for all exit cases,
like voluntary or company initiated and will be processed within 60 working days from
the last working day of the employee. Employees have to submit all the necessary
clearances from IT, Administration, Finance, HR & HoD before the last working day. The
employee will be sent a copy of the FnF sheet for confirming components of calculation
post the consent the FnF transaction will proceed. Employees will be paid in the account

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number registered with the organization. In case the employee intends any other means,
the same should be communicated to the HR team.

General Guidelines (Notice Period, Handover & Others):

1. Notice period:

The notice period is provided to assist with the handover of charge / responsibilities to
the next incumbent. In the case of an employee initiating Resignation, the employee is
required to serve a required notice period of 3 months. For all purposes, the date of
formal resignation will be the start date for computing the notice period duration.

The period of the notice period shall be as per the details mentioned in the appointment
letter or any modification made therein by a management order or last grade as
applicable. In the absence of any notice given or part notice given, management is in
discretion to deduct the amount construed as notice pay recovery.

Notice period may be waived in full or part based on the discretion of the management
as per recommendation received from the Head of HR / HoD. In event the employee has
failed to complete the working in notice period or diligently neglecting any work, the
company will view it seriously and reserves the right to seek any legal measures.

2. Handover:

Handover should be given to the manager or person nominated by the manager, in order
to continue with smooth business operations with all clients & within the organization. If
you are in possession of Company assets, (for example Cell phone /Laptop / Corporate
Credit Card / Data Cards) full & final settlement will be initiated only after you hand
them back in perfect condition to the Company.

3. Others:

Once HR receives intimation of an employee’s resignation, the salary for the last /current
month will be stopped and released with the final settlement.

The resigned employee is required to update all leave details and clear off any
outstanding dues towards (any) company loan, Advance expenses claim or any salary
advance prior to the date of leaving.

An employee serving the notice period will not be entitled to any subsequent salary
revision including any benefits that would be applicable with retrospective effect.

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 Authorization:

Any changes / amendments in the current policy are at the sole discretion of the
management and Human Resource department.

The ultimate interpretation of this policy rests with the Senior Management. The decision
of the Senior Management shall be final and binding.

Policy Ref: Version:

Effective Date: Valid Till:

Initiated By: Flipcarbon Approved by: Founder - PVR Controls

Last Modified:

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