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LETTER OF APPOINTMENT ON FIXED TERM EMPLOYMENT CONTRACT
Dear Mr Chetan Mayappa Mane Date: 01 Oct 2024
Ref: Offer ID: BAN01102024538318
Employee ID: 202467191
We are pleased to offer you an employment in our organization Innovsource Services Private Limited , as Common- All
products for a fixed period of employment (“Contract”), on the following terms and conditions.
1. The term of your fixed term employment contract shall be valid from 01 Oct 2024 to 30 Sep 2025. Notwithstanding
this, in the event of the project/work/deputation for which you are being employed terminates before the
aforementioned period, this Contract shall be co-terminus with the project/work. This is as per the terms laid out in the
Appointment Letter. You shall at no point in time stake any claim or right to claim employment, damage, loss or
compensation of any sort whatsoever against our Clients. Your continuance in employment is subject to you remaining
physically and mentally fit. As and when required, the Management may require you to subject yourself to a medical
examination by a physician of the choice of the Management.
2. You shall report to work on 01 Oct 2024 at 09.30 AM at Bangalore. After the joining formalities are completed, you
shall be informed about your place of posting.
3. Details of your salary break-up with components are as per the Enclosure attached herewith.
4. This contract shall be terminable by either party giving one month’s notice in writing or gross salary in lieu of notice, to
the other party
5. During your services with us, you will be posted to work at the Client’s office/ premises at any of their locations, either
onsite within India or offshore.
6. You will abide by the rules & regulations of the Client’s office wherever you are posted and will be eligible for leave with
salary and holidays as per local statute.
7. Your fixed term employment contract with us will automatically come to an end on 30 Sep 2025 (after close of office
hours) unless specifically renewed further.
8. The age of retirement on superannuation in our Company is 58 years.
9. A woman employee will be covered under the provisions of the Maternity Benefit Act 1962 and its amendments thereto.
In case of any clarification required, you may get in touch with our HR department.
In addition, to the terms of appointment mentioned above, you will also be governed by the standard fixed term
employment contract rules of the Company, which are attached along with this letter. The combined rules and
procedures as contained in this letter and the enclosure will constitute the standard fixed term employment contract
rules and you are required to read both of them in conjunction. Your net salary / reimbursement amount due, if any,
shall be credited to your savings bank account opened for this purpose.
INNOVSOURCE SERVICES PRIVATE LIMITED 401, 4th Floor, Om Sadan Building, Mehra Indl. Estate, LBS Marg,
Behind Jaswanti Landmark, Vikhroli - West, Mumbai - 400079 Maharastra, India | CIN: U74900MH2016PTC273940
1761546-04102024-794979 1
Wishing you the very best in your assignment with us and as a token of your understanding and acceptance of the
standard terms of fixed term employment contract, you are requested to sign the duplicate copy of this letter and
return the same to us within a day.
With warm regards,
yours truly Acceptance
For Innovsource Services Private
Limited I have received the Work Assignment Letter and agree to the terms
and conditions contained thereto
Mr Chetan Mayappa Mane
Authorised Signatory (Signature & Date)
Enclosures: - (i) Compensation sheet; (ii) Standard Terms of Employment
INNOVSOURCE SERVICES PRIVATE LIMITED 401, 4th Floor, Om Sadan Building, Mehra Indl. Estate, LBS Marg,
Behind Jaswanti Landmark, Vikhroli - West, Mumbai - 400079 Maharastra, India | CIN: U74900MH2016PTC273940
1761546-04102024-794979 2
COMPENSATION SHEET
Dear Mr Chetan Mayappa Mane Date: 01 Oct 2024
Ref: Offer ID: BAN01102024538318
Employee ID: 202467191
GROSS SALARY STATUTORY BENEFITS
Basic + DA Rs. 16265/- PF Employer Rs. 1950/-
HRA Rs. 3635/- ESIC Employer Rs. 650/-
Other Allowances Rs. 100/- Bonus Rs. 1355/-
MediclaimPremium Rs. 69/-
GROSS SALARY TOTAL Rs. 20000/- STATUTORY TOTAL Rs. 4024/-
PF Employee Rs. 1800/-
ESIC Employee Rs. 150/-
Professional Tax Rs. 0/-
NET SALARY Rs. 18050/- COST TO COMPANY Rs. 24024/-
(Gross + Statutory
Benefits)
1 The Statutory Bonus shall be paid as per the provisions of The Payment of Bonus Act, 1965. The amount of Bonus
mentioned here is indicative and may vary based on the statutory minimum wages of the State in place of posting and
attendance.
With warm regards,
yours truly Acceptance
For Innovsource Services Private
Limited I have received the Work Assignment Letter and agree to the terms
and conditions contained thereto
Mr Chetan Mayappa Mane
Authorised Signatory (Signature & Date)
Enclosures: - (i) Compensation sheet; (ii) Standard Terms of Employment
INNOVSOURCE SERVICES PRIVATE LIMITED 401, 4th Floor, Om Sadan Building, Mehra Indl. Estate, LBS Marg,
Behind Jaswanti Landmark, Vikhroli - West, Mumbai - 400079 Maharastra, India | CIN: U74900MH2016PTC273940
1761546-04102024-794979 3
STANDARD TERMS OF EMPLOYMENT
1. VALIDITY TERM OF FIXED TERM EMPLOYMENT CONTRACT:
1.1. Notwithstanding anything above, depending upon the aforementioned project/work/deputation, the Company
reserves its right to extend/renew your fixed term employment contract for such duration as may be necessary
depending upon the exigencies related to the work for which you are hereby engaged. In that event, the Company
shall in writing extend/renew your fixed term employment contract on the terms as may be indicated in writing and
in the event of your acceptance of such an extension/renewal of the assignment; you shall be governed by such
terms and conditions as maybe indicated therein.
1.2. It is specifically understood by you that during the term of your fixed term employment contract, you shall neither
seek nor accept to be employed, engaged, hired by or in any manner whatsoever, render services to any third party
either in India or abroad whether on deputation or otherwise. This obligation shall be binding on you irrespective of
the said third party being engaged in a similar business as the Company or otherwise.
1.3. You shall be required to complete the joining formalities as per the list enclosed. These formalities are required as a
part of compliance. You should therefore complete the said formalities immediately but not later than 10 days from
the date of joining the service. You may please note that in the event you fail to complete the formalities within the
stipulated time the Company may be constrained to terminate the fixed term employment contract. Further the
salary payable to you will be adjusted towards your pending dues. We expect you not to place yourself in such a
situation.
1.4. Your appointment is being made on the basis of particulars provided by you such as qualifications, date of birth etc.
as given in your application for fixed term employment contract and in case any information given by you is found
false or incorrect, your appointment will be deemed void and liable for termination without notice.
1.5 In case there is any change in your residential address, you will intimate the same in writing to us within three days
from the date of such a change and get this change of address updated in our records.
2. COMPENSATION:
2.1. You will be covered under the provision of the Employees’ Provident Fund and Miscellaneous Provisions Act 1952,
Employees' State Insurance Act 1948, Payment of Bonus Act 1965, Payment of Gratuity Act 1972 & other statutes
which are in force from time to time.
2.2. You will be covered under a Group Accident Insurance Scheme and Mediclaim as applicable to you as detailed in the
enclosure attached.
2.3 In addition to the Monthly Salary, you will not be entitled to any other perquisites/allowances unless given to you in
writing. Salary would be paid on or before 10th of the subsequent month and credited only in your bank account.
Any discrepancy in the salary received needs to be reported to our nearest branch within 7 days of receipt of salary
after which, it will be deemed to be correct and any further claims will not be entertained. TDS will be deducted at
higher rate as per Income Tax Act, in case PAN number along with proof is not provided to the nearest Innov
Branch within 7 days of joining. Any salary which has not been claimed for 3 years from when it is due, will be paid
to the Labour Welfare Fund as per Labour Welfare Fund Act.
3. Recovery from Full & Final Settlement:
3.1. At the time of cessation of services either by you or the Company or upon the lapse of the term of fixed term
employment contract, if there are any dues owed by you to the Company, the same shall be adjusted against any
amount due to you by the Company on account of salary, bonus or any other payment owed to you under the terms
of your fixed term employment contract.
4. DISCRETION:
INNOVSOURCE SERVICES PRIVATE LIMITED 401, 4th Floor, Om Sadan Building, Mehra Indl. Estate, LBS Marg,
Behind Jaswanti Landmark, Vikhroli - West, Mumbai - 400079 Maharastra, India | CIN: U74900MH2016PTC273940
1761546-04102024-794979 4
4.1. Your fixed term employment contract is subject to you being certified medically fit by a registered medical
practitioner.
4.2. During the period of this fixed term employment contract, you will be posted at the sole discretion of the Company to
any of the Company’s clients to do work pertaining to or incidental to such Client’s business. Any change in your
place of posting will be communicated to you by way of a letter from the Company, and this will be effective from
the date mentioned in such a letter.
4.3. During the tenure of the service, you will continue to be an employee of the Company and your compensation and
applicable allowances shall be payable only by the Company. In no way you will have any Employer-Employee
relationship with our client. In this regard, you shall not be entitled to receive any payments, either as fees,
expenses, reimbursement or such other allowance, directly from the Client to whose site you may be posted.
5. RULES/POLICIES OF THE CLIENT:
5.1. In day-to-day functioning or carrying out your responsibilities and duties, you will receive instructions and will
undertake to abide by any suggestions, etc. given by any assigned person(s).
5.2. We always believe in enhancing the skills of our employees so that they can deliver better results and improve
productivity. The training programs are financed by us and hence it becomes mandatory for you to attend such
programs, wherein you have been nominated. Any contravention to this may attract penal action as per statutes
applicable to you.
5.3. You shall be bound to follow the working hours and rules & regulations of the Client’s organization.
6. NON - DISCLOSURE:
6.1. You shall take care not to disclose or divulge confidential information/trade secrets, etc. belonging either to the
Company or to the Client, that you may come across in the course of your responsibilities either to the Company
and/or to the Client or to anyone outside the Client’s organization and you shall use such confidential information
only in connection with the services provided by you to such Client.
6.2 Further, you shall not utilize any Confidential Information acquired in consequence of your fixed term employment
contract for your benefit or for the benefit of any third party other than the Company or its Client who has disclosed
such Confidential Information or for whom you have created the Confidential Information.
7. ASSIGNMENT OF INTELLECTUAL PROPERTY RIGHTS:
7.1. You are employed by the Company on the express understanding that all services provided by you whether at the
Company site(s) or on deputation, are being done on behalf of the Company or its clients. Consequently, any and
all intellectual property rights (including but not limited to patents, copyrights, trademarks, etc.) arising therein shall
be owned exclusively by the Company or its clients to whom you may be providing the services on deputation. In
this regard, it shall be deemed that you have provided your consent for the assignment of any and all intellectual
property rights developed either solely by you or jointly with the Company or its clients exclusively and solely either
in favour of the Company or its clients and you shall do all as may be necessary to ensure that the ownership of all
such intellectual property rights vests solely with the Company or its clients, as the case may be.
8. LIABILITY:
8.1. You shall at no point of time make any claim or assert any right to employment, damage, loss or compensation of
any sort whatsoever against the Client. This arrangement of deputation is purely a contractual agreement between
the Company and the Client for the time specified.
8.2. Further upon the lapse of the term of your fixed term employment contract with the Company or earlier termination
thereof, you shall have no right or claim against the Company for continued employment and in this regard, the
Company does not guarantee or warrant any continued employment after the term of fixed term employment
contract or earlier termination thereof.
INNOVSOURCE SERVICES PRIVATE LIMITED 401, 4th Floor, Om Sadan Building, Mehra Indl. Estate, LBS Marg,
Behind Jaswanti Landmark, Vikhroli - West, Mumbai - 400079 Maharastra, India | CIN: U74900MH2016PTC273940
1761546-04102024-794979 5
8.3. You shall not engage in any act subversive of discipline in the course of your duty/duties for the Client either within
the Client’s organization or outside it, and if you were at any time found indulging in such act/s, the Company shall
reserve the right to initiate disciplinary action as per the statute.
9. INDEMNITY:
9.1 You shall be responsible for protecting property of the Client entrusted to you in the due discharge of your duties and
you shall indemnify the Client if there is a loss of any kind to the said property.
All other terms and conditions of your fixed term employment contract remain unchanged.
We are a rapidly growing Company that can provide opportunities to individuals with talent who are committed to
reaching our corporate goals. The Company provides a work environment that inspires creativity, outstanding client
service, attention to detail and personal advancement. This is the kind of work environment that brings the best in
our employees and in turn brings the best in our Clients. We welcome your experience and skills to our term and
expect your effort and talent to be a part of our growth and success.
You are requested to provide the following documents as mentioned in (1.3), within 10 days of your reporting, to
duty at our Client’s site.
- Aadhar card for proof of identity, proof of date of birth and proof of address.
- Educational certificates
-ESI declaration in Form 1, PF nomination in Form 2 and Gratuity Nomination in “Form F”
-PAN Card, Bank A/C details with proof (cancelled cheque)
- Six passport size photographs
- Experience certificates and relieving letter from your previous employer (if applicable).
- Proof of your last drawn salary (if applicable)
10.3 Providing your Aadhar card details will be helpful to you to claim/avail PF and ESIC benefits, under the Act, in future.
You can reach us through (1) Call on Toll Free No. 1800-22-4456 (2) Email to
[email protected] or (3) WhatsApp on 9930346641.
INNOVSOURCE SERVICES PRIVATE LIMITED 401, 4th Floor, Om Sadan Building, Mehra Indl. Estate, LBS Marg,
Behind Jaswanti Landmark, Vikhroli - West, Mumbai - 400079 Maharastra, India | CIN: U74900MH2016PTC273940
1761546-04102024-794979 6
We request you to please sign a duplicate copy of this letter and return the same to us, indicating your acceptance of the
terms mentioned herein. By signing this letter you confirm that you have read, fully understood and accepted the terms of
this letter.
Yours faithfully, Acceptance
For Innovsource Services Private Limited I have received the Work Assignment Letter and agree to the terms
and conditions contained thereto
Mr Chetan Mayappa Mane
Authorised Signatory (Signature & Date)
Enclosures: - (i) Compensation sheet; (ii) Standard Terms of Employment
INNOVSOURCE SERVICES PRIVATE LIMITED 401, 4th Floor, Om Sadan Building, Mehra Indl. Estate, LBS Marg,
Behind Jaswanti Landmark, Vikhroli - West, Mumbai - 400079 Maharastra, India | CIN: U74900MH2016PTC273940
1761546-04102024-794979 7
