AMBITION SERVICES

PRIVATE LIMITED

Human Resource Manual

Corporate Office: Ambition Services Pvt Ltd, Plot no.25, 2nd Floor, Sector 11- Dwarka, New Delhi
- 110075 Tel: 1800-889-5319
Contents
1. Introduction to Ambition................................................................................................................................. 4
2. Purpose of the manual ...................................................................................................................................... 4
3. Owner of Manual .................................................................................................................................................. 4
4. Working at Ambition.......................................................................................................................................... 5
5. Code of Conduct..................................................................................................................................................... 6
6. Health and safety policy ................................................................................................................................... 8
6.1. Policy guidelines .......................................................................................................................................... 8
7. Recruitment and Selection Policy ............................................................................................................... 9
7.1. Policy guidelines .......................................................................................................................................... 9
8. Joining policy ........................................................................................................................................................11
8.1. Policy guidelines ........................................................................................................................................11
9. Induction policy ..................................................................................................................................................14
9.1. Policy guidelines ........................................................................................................................................14
10. Probation and confirmation policy .....................................................................................................15
10.1. Policy guidelines ...................................................................................................................................15
11. Performance appraisal policy ................................................................................................................16
11.1. Policy Guidelines ...................................................................................................................................17
12. Travel and Expenses Policy .....................................................................................................................19
12.1. Policy Guidelines ...................................................................................................................................19
13. Promotion & Increment policy ..............................................................................................................21
13.1. Policy guidelines ...................................................................................................................................21
14. Training and Development Policy .......................................... Error! Bookmark not defined.
14.1. Policy guidelines ...................................................................... Error! Bookmark not defined.
15. Compensation Policy ...................................................................................................................................22
15.1. Policy guidelines ...................................................................................................................................22
16. Benefits Policy.................................................................................................................................................24
16.1. Policy guidelines ...................................................................................................................................24
17. Transfer policy................................................................................................................................................28
17.1. Policy Guidelines ...................................................................................................................................28
18. Disciplinary Action Policy ........................................................................................................................30
18.1. Policy guidelines ...................................................................................................................................30
19. Separation and Settlement policy ........................................................................................................32
19.1. Types of separation .............................................................................................................................32
20. Grievance Management Policy ...............................................................................................................34
20.1. Policy Guidelines ...................................................................................................................................34
21. Whistle blower policy .................................................................... Error! Bookmark not defined.
22. POSH policy.......................................................................................................................................................35
Annexures ........................................................................................................................................................................42
I. Annexure A: Code of Conduct ....................................................................................................................42
II. Annexure B: Offer Letter .............................................................................................................................51
III. Annexure C: Reference check- Previous employer feedback ................................................53
IV. Annexure D- Increment letter .............................................................................................................54
V. Annexure E- Promotion letter ..................................................................................................................55
VI. Annexure F- Migration of savings account to salary account.............................................56
VII. Annexure G- Transfer letter .................................................................................................................57
VIII. Annexure H: Categorization of Indiscipline .................................................................................58
IX. Annexure I: Warning Letter .................................................................................................................60
X. Annexure J: Suspension Letter .................................................................................................................61
XI. Annexure K: Termination Letter ........................................................................................................62
XII. Annexure L: Employee Clearance Checklist ..................................................................................63
XIII. Annexure M: Exit Interview Form ......................................................................................................64
 Human Resource Policy

Version Author Reviewed by Approved by Date of Release

Approval Date
1.0 Compliance Mr. Durgander Board of 28.03.2022 01.04.2022
and Policy Kumar Directors
Department

1. Introduction to Ambition
Ambition (Ambition Services Private Limited) is a private limited company working as a business
correspondent/service provider for various financial institutions. It was founded in 2015 by a
group of professionals having decades of experience in banking and microfinance space. Ambition
has created a distribution network with focus on financially underserved communities in rural
areas which has reached at the household level in a village.

The initial products offered through the distribution network were microfinance loan (JLG Loans)
and Life Insurance (Credit Shield). Now, Ambition has also partnered with Banks/ Financial
Institutions and is offering their financial products such as opening of savings account, AEPS cash
withdrawal through its distribution network. It has partnered with Insurance companies to
provide life/health/general insurance products relevant to the rural communities.

Ambition aims to offer other financial services like secured/unsecured enterprise loans, two-
wheeler loans, consumer finance loans, home improvement loans to individuals, groups, and
businesses (micro-enterprises). Ambition will also open saving accounts, do fixed deposits and
recurring deposits on behalf of the partner bank.

2. Purpose of the manual

The HR manual helps Ambition to establish a robust structure and basic set of rules that help all
the employees to operate in an organized and disciplined manner. Having a structured approach
towards people management from day one will help us ensure that:
• Basic legal obligations are being met
• People managers can make consistent and reliable decisions – promoting a culture of
fairness
• There exists a clear understanding of expectations, rules and consequences
• The employees feel welcome to the organization and their new job.

The HR manual has significant long-term advantages since it decreases the likelihood of people
reverting to their own set of norms, which reduces disagreements or complaints caused by
misunderstanding, and it improves the general professionalism of business operations.

3. Owner of Manual
The primary user of the document will be the employees of the Human Resource department.
However, this document will be accessible to the senior management and the Board of Ambition.
The HR manual is subject to revision from time to time. The HR head will be accountable for the
updating of the HR manual periodically. Any change in the manual will be incorporated by the HR
department under the guidance and approval of the department head or Board members.
4. Working at Ambition
Ambition aims to provide a disciplined and healthy work environment for all its employees.
Employees, with effective use of time, can achieve the mission of the company. Reporting to duty
on time is essential since tardiness or absence affects day-to-day functioning and the culture of
the organization.
The purpose of this policy is to provide guidance to employees about working hours, weekly off,
and dress code to bring discipline at work.

Working days and time

• We at Ambition always work to provide the best services to our employees through our
employee centric policies and considering the same we have initiated for shift wise office
timings:
Day Branch timings HO timings
Monday-Friday 08:00 AM to 06:00 PM 09:00 AM to 5:30 PM
10:00 AM to 06:30 PM
11:00 AM to 07:30 PM
Saturday 09:00 AM to 04:00 PM 10:00 AM to 04:00 PM

• The team leader will discuss & decide the shift timing of his respective team
members, make sure it should be as per work requirement of organization.
• Timing will not be changed on daily basis. Once any shift opted than it will be
applicable for a month minimum.
• Lunch Timing will be between 01:30 PM to 2.00 pm, 30 minutes maximum.
• Minimum working hours will remain same as per the policy, Monday to Friday
8.5(Including 30 minutes Lunch) hour, rest as per the work requirement.

Weekly off
• Second (2nd) Saturday and all Sundays will be the weekly holidays.

Lunch hours
• Branch office 12:30 to 2:00
• Head office and regional office 01:30 PM to 02:00 PM

Absence from office

• Employees are expected to arrive on time
• If an employee anticipates coming late, he/she must inform the immediate manager (or
a colleague in case the immediate manager is not available) is aware of his/her refer
where abouts
• Unauthorized absence from office, or absence from office without prior approval from
the immediate manager, will be recorded as misconduct in the employee’s file
• Unauthorized absence will be treated as Loss of Pay (LOP)

Dress and appearance

• Employees are required to wear formal clothes from Monday to Thursday
• On Friday & Saturday, smart casual is permitted
 • All employees should come to work well-groomed
• Dress and appearance should not be offensive/provocative to customers or other
employees
• The attire should be neat and clean

Housekeeping
• All employees are responsible to keep the offices of the company neat and tidy
• All employees are responsible to switch off the computers and lights in the work area
• All employees are responsible to clear of all files and papers every evening prior to
leaving the office

Consumption of drugs and alcohol

• Smoking, consumption of drugs and alcohol is prohibited in the entire office premises
covering enclosed offices, open office areas, conference rooms, pantries, toilets, and
lobbies
• Employees working/coming to work under influence of alcohol or drugs is strictly
prohibited

Responsibility
• All employees (including contractual) will be responsible to adhere by the above policy
guidelines

5. Code of Conduct
Ambition Services Pvt Ltd (Ambition) recognizes the importance of maintaining good corporate
citizenship while adhering to the regulatory guidelines that define the scope of the organisation’s
operations. As such, Ambition has established an organizational Code of Conduct. This policy
takes into consideration the organization’s full commitment to ethical operations, customer
protection, industry best practices (those detailed by Sa-Dhan and MFIN), good governance, and
compliance with The Companies Act and the Reserve Bank of India’s (RBI) Fair Practices Code.

This Code of Conduct shall be effective from March, 2022

Purpose
The purpose is to establish a standard set of rules and regulations for the employees. They must
adhere to and adopt such rules and regulation as a standard code of conduct as it is meant to give
employees the guidance necessary to apply Ambition’s values through their day-to-day conduct.
Ambition has also adopted RBI’s Fair practice code and Network codes of conduct which guide
the overall operations of the organisation (Annexure 5.1).

Core Values
Ambition’s overall corporate conduct has been determined against the organization’s core values,
a summary of these values and the actions to implement are as follows:
• Teamwork
We shall uphold the dignity of fellow employees and respect each other’s views and work and
thus foster a relationship based on cooperation. We should not be afraid to express our views
professionally and we should never refuse to seek help from one another or extend help to a
colleague. For these purposes, we at Ambition willingly accept constructive feedback for the
collective development of all members. Individuals should work to achieve their highest potential
by being creative, proactive, enthusiastic, and firm in their belief that teamwork achieves better
results than that of an individual.
• Integrity
We will be an ethical, law-abiding institution. We will say what we do and do what we say. We
will never over-promise or mislead our stakeholders.
• Professionalism
We ensure the satisfaction of our clients and hence believe in delivering services in a professional
manner.
• Transparency
We will share all relevant information with stakeholders and make effort to disseminate our work
to the wider world. Our work and actions will be honest and transparent.
• Equity
All people irrespective of race, age, gender, sexual orientation, religion, health and ability status
or any other consideration should have equal dignity and opportunities. We do not indulge in
discriminatory practices.
• Empathy
We will always support our clients with empathy during the challenging times by providing them
with solutions and quality services.
• Responsible practices
We are committed to follow responsible practices to ensure that the services provided to our
clients are not unethical and deceptive.
• Accountability
We believe in accepting the responsibility of our actions, meeting the quality standards, and
maximizing the value for our clients.
• Resilience
We are committed to building and administering resilient systems and processes to help
us thrive and survive in times of change and uncertainty.

Feedback Mechanism
Ambition follows an effective and efficient feedback mechanism therefore it encourages all staff,
customers, and other key stakeholders to mail their queries, concerns feedback and suggestions
to [email protected] / [email protected] or the same can be submitted in person at any of
Ambition’s branches or at the organization’s head office:
HR Manager,
Plot No. 25, second floor, Sector 11 Dwarka, New Delhi- 10075
Telephone: 1800-889-5319
Website: https://ambiserv.in
6. Health and safety policy
Ambition shall work towards providing a safe and healthy working environment at its branches
and offices and will take adequate steps to prevent accidents & injury to health arising out of the
course of work by minimizing causes of hazards inherent in the working environment.

6.1. Policy guidelines

• Smoking is prohibited in the entire office premises covering enclosed offices, open office
areas, conference rooms, pantries, toilets, and lobbies
• Host employees should take the initiative to advise their guests and visitors of Ambition’s
smoke-free policy
• Employer’s Role:
o Admin Department will monitor and review the safety management system and perform
regular audit on safety and health performance
o Admin Department will maintain a complete set of emergency procedures and see to it
that the procedures are being tested and updated systematically as required by law
o Admin Department will arrange for various safety drills from time to time for all
employees, to equip employees with the knowledge and skills to perform their duties in
a safe manner
o Admin Department will ensure that proper safety and health measures are taken at all
branches and offices
o Admin Department will maintain a First – Aid box containing emergency drugs at its
offices and branches
o Employees’ Role:
o Employees should comply with the safety and health measures instituted by Ambition
and cooperate in all safety-related tests, drills and auditing
o Employees should be fully aware of their personal responsibilities regarding
occupational safety and health. They must be constantly alert to potential risks and
hazards related to their activities, and should avoid improper behaviour or operation
that may lead to accidents or occupational diseases or injury
o Employees liaising with external contractors should ensure that those contractors will
meet the same safety standards and requirements as stated by Ambition
o Employees will conserve resources and prevent pollution

We at Ambition are firm believers of the phrase: “Health is Wealth”, so we advise our employees
to take utmost care of their health by eating properly and doing regular exercise/yoga.
7. Recruitment and Selection Policy
Human Resources are the foundation of every organization. Attracting and retaining the right
personnel is a very important task of any organization. Ambition provides equal opportunity of
employment to applicants irrespective of their age, sex, marital status, disability, nationality, or
religion (provided that these do not hamper the abilities of the prospective appointees to carry
out normal job duties or affect the health and safety of fellow employees). Employment is offered
only to suitable applicants based on their merits and abilities.
The recruitment policy is designed in such a way that it is flexible enough to meet the changing
needs of our organization, so that we can continuously attract and retain the best talent.

7.1. Policy guidelines

Source of recruitment
• Internal recruitment
• Lateral movement of employees as per Transfer Policy
• Promotion of employees as per Promotion Policy
• External recruitment
• Job advertisement through newspaper
• Job advertisement through social media- WhatsApp, LinkedIn, Facebook
• Consultants / Placement Agencies
• Employee Referral: Ambition provides referral bonus to the employees who refer the
employees who has been selected and joined. For detailed referral policy, please refer
annexure-
• Ambition has tie ups with the different NGO, CSR’s, Skilled Development Institutes for the
trained candidate for the placements.
• Ambition plan the monthly recruitment drive for the hiring.
• Ambition tie up with the management institutes for the managerial positions.

• Rehiring
• Resigned employees of Ambition (both field as well as HO staff) can be rehired for a
suitable position only if the following criteria have been fulfilled at the time of his/her
separation from Ambition:
▪ All exit formalities have been completed- including
▪ Clearing of all pending monetary dues
▪ Handing over of all relevant documents and other facilities/ equipment provided
to the employee
▪ Handing over job responsibilities
o No case of fraud
• Employee has served notice period as per Exit policy
• Who not to hire?
• Candidates with irrelevant or no experience in the sector should be hired strictly as per
the requirement
• Candidates with instances of fraud or negative feedback from the previous employer
against their name in the past.
• The hiring manager should be careful in hiring candidates who have frequently been
changing their organization in the past.

Selection guideline and criteria

• Shortlist criteria:
Candidates will be shortlisted based on the following factors:
• Academic, professional, and technical qualifications
• Communication skill
• Working experience
• Job knowledge and technical know-how
• Management experience for managerial positions
• Selection criteria:
All shortlisted candidates will undergo an interview, and the selection criteria shall include:
• Desirable personal attributes
• Potential for further development
• Past performance
• Acceptability to Ambition’s work culture
• Job and salary expectation
• Career Aspiration
• Written test: The HR department will administer a written test which is a pre-requisite for AM,
BM & CM
• Reference check/ Background verification
• Personal reference check / background verification will be conducted at the final stage of
the selection process. Employees parents are informed about the nature of the job. Also,
tele verification of the new employee through Neighbors / other family members is
conducted by HR department
• Previous employer feedback: The HR Department will call or mail as per ‘Annexure B’
and obtain the probable new employees past track records from the previous employer.
The selection process or the process of making offer is only made
post positive feedback from past employer
• Equifax Employee bureau verification
• If a candidate is found to have provided false information or have misrepresented any
information or have not disclosed any material facts in his or her application, it will be
deemed to be sufficient ground for Ambition to withdraw the offer or terminate his or her
service summarily, as the case may be.

Process for TCM Hiring to Onboarding

i. Candidate Shortlisting:
• Area Manager (AM) will shortlist the candidates for the TCM profiles.
• Final approval for shortlisted candidates will be given by the Divisional
Manager (DM) or State Head (SH).

ii. Approval for Offer Processing:

• The AM will obtain approval for offer processing from DM or SH.

iii. Offer Processing

• AM will share the offer processing format (Excel Sheet) along with necessary
documents (DM/SH hiring Approval, Resume, Assessment Sheet) with HR
team for offer processing.
 iv. Verification of Offer Processing Documents
• AM ensures that all columns of the Excel sheet and assessment sheet are
properly filled.
v. Equifax Report and Personal References Check:
• HR team will check the Equifax report and personal references. If the checks
are satisfactory, then HR will process for the offer and notifies relevant
stakeholders (AM, DM, SH, BH & HR).

vi. Joining Documentation:

• On the day of joining, AM will provide a Joining Table (Excel Sheet) and all
required documents (Joining Kit, Aadhar Card, PAN, DL, 5 Photo, Educational
Documents, 3 PDC Cheque & 1 Cancel Cheque) in soft copy to HR for Ecode
processing.

vii. Employee Code Assignment:

• HR will share the Employee Code with the concerned AM within two working
days.

viii. Submission of Hard Copies:

• Hard copies of documents (Joining Kit, Aadhar Card, PAN, DL, 5 Photos,
Educational Documents, 3 PDC Cheques & 1 Cancelled Cheque) should be
received at the Noida office (HR Department) within seven working days.

ix. Confirmation of Document Receipt:

• HR team confirms the receipt of hard copies by sharing the Proof of Delivery
(POD) and takes confirmation from the HR team of courier receiving.

8. Joining policy
The joining policy of Ambition aims at providing clear guidelines to ensure a smooth joining of
new hires.

8.1. Policy guidelines

Pre-joining procedure
• HR Department will inform all concerned regarding joining of new employee
• In case of new employee being hired at Regional / Head Office, HR Department will ensure the
following additional formalities are completed:
• Allocation of workstation in consultation with Admin and IT Team
• Informing all concerned regarding the induction schedule

Joining day procedure

• New Joining will be done only on Monday and before 25th of every month, exceptional approval
only in case of Operational emergencies by approval of Vertical Head.
• HR Department will introduce new joiners to company’s HR policies and process
• HR department will ensure that new joiners submit one copy of the following documents prior
or on the day of joining
• Filled Personal information form
• Proof of identity and address (Pan Card /Aadhar card/ Driving license/ Voter card/
Ration card/ Passport copy)
• Duly attested educational and other qualification certificates
• Release/relieving letter from the previous employer
• Acknowledgement for receipt of offer letter and employment letter
• 5 photographs
• PF/ESI and other relevant forms (Nominee declaration)
• Cancelled cheque/ bank account details (If available)
• For Field team, own vehicle and valid driving license is also required.
• HR Department will send an email introducing new joiner to all HO and BO staff

Employee hiring into HR system

• HR Department will hire new joiners into the HR software only after receiving a written
confirmation from reporting officer
• HR Department will ensure that relevant details related to new joiner is updated in the HR
software within 7 working days

Responsibility
• HR Department will be responsible for the following:
• Initiate pre joining process
• Joining procedure
• Issue of appointment letter
• Providing the joining kit
• Creation of E-mail
• New joiner (except CM and BM) undergoes induction after joining
• Allocation of workstation space at HO
• Processing ID Card
Welcome Letter by MD/CEO
WELCOME LETTER
Date:

To,
{{Emp. Name}}
{{Emp Code}}

Subject: Welcome wishes.

Dear Mr./Mrs. {{NAME}},

I have written this letter to congratulate you on the appointment. I welcome you to the
organization on behalf of all your future colleagues. We assure you a healthy and enjoyable
working environment.
We at the company believe in working as a team rather than competitive individuals. Our main
aim is to make the ventures of the firm a success. Hope you will find the office comfortable and
suitable as all your expectations.
If you find yourself in some sort of trouble because of unfamiliarity with the office and work, feel
free to ask any of your colleagues / HR Team. I am sure everybody will be helpful. Hope to see you
soon.
Yours sincerely,

{{COMPANY}}
{{Signature}}

{{Formal Name + Title}}

9. Induction policy
Induction is regarded as an integral part of staff recruitment. It helps employee to understand
and integrate with the working culture of Ambition. This policy enables new, promoted and
transferred employees to become familiar with their job profile, work environment, terms and
conditions, organizational policies and procedures.

9.1. Policy guidelines

Selected candidates will undergo induction training before he/she is posted to the department

Induction schedule
• New joiners are classified into:
• Field and supervisory
• Management and non-management
• Induction will include both 1-day classroom and 6 days field visit
• All field employees must attend the induction program consisting of 7 days, i.e., 1-day formal
introduction to the company and the remaining 6 days of field training in select branches
• All management grade employees have to attend 1-day formal introduction and field visit is kept
optional
• Accommodation arranged by the company
• No food allowance is paid by the company
• Induction will cover:
• Company background
• Miss ion, vision and core values of Ambition
• Code of conduct and ethics
• Organization structure
• Operation methodology
• Policies and procedures of Ambition
• Benefits offered to employees
• Detailed loan process
• Reporting structure in Department
• Department processes (including process owners)
• Department goals and targets
• Individual goals and targets
• Employees promoted or transferred to different departments will undergo induction program
containing department structure, reporting lines, roles, and responsibilities etc.
• All inductees will receive a copy of operations and other policies.

Field guide scheme

• Senior employee will mentor new employee during 6 days of field training.
• Trainee CM’s will be attached to trainer CM
• Trainee BM’s will be attached to trainer BM
• Trainee AO’s will be attached to trainer AO

Leave during induction

• Inductees are not entitled to take any leave during induction. In case of emergency, leave
 needs to be approved by concerned Department Head
• Induction period of the inductees will be extended by seven days who fails to complete all
field exposures

Responsibilities
• HR & Admin department will prepare an induction schedule
• HR & Admin department will intimate the date of induction to inductees and trainers 15 days in
advance
• HR & Admin department is responsible for the accommodation of trainees

10. Probation and confirmation policy

The confirmation policy of Ambition provides guidelines to evaluate suitability of probationary
staff or trainees in the job and review performance without prejudice.

10.1. Policy guidelines

Definition
• Trainee – Centre manager and Branch manager will be considered as trainees and will undergo
a traineeship period as mentioned in clause 2
• Probation – Area Manager, Executive Accounts, Executive MIS, Executive risk and audit, Asst.
Manager, Manager & Sr. Manager will be on probation as per the period mentioned in clause 2

Probation and Traineeship Period

• Traineeship will be for a period of three months. The same cannot be shortened for any reason
whatsoever.
• Employees will be on one month of probation. The same cannot be shortened for any reason
whatsoever.
• Any employee found not suitable for the position during probation/traineeship may be
terminated by giving a proper reason in writing.
• Upon performance review, the trainee will be confirmed, and a confirmation letter will be shared
with the employee through mail.
• In case the employee on probation is not confirmed, either he/she shall be removed from the
services of the company, or the probation period can be extended.
• If the probationer/trainee is transferred to a different role or different location during the
probationary period, the assessment of the respective employee will be done by all reporting
officers.
• In case any ex-employee joins Ambition his / her probation period may be waived at the
discretion of the Management
• No employee shall be considered ‘confirmed’ unless informed in writing/mail by HR
Department
• Once the probation period is satisfactorily completed, an employee cannot be placed on
probation again

Evaluation
• All performance review will be completed before 20th of every month. In case of performance
review after 20th, employee will be confirmed from 1st day of next month
• Employee performance on traineeship will be evaluated as per the procedure laid down by HR
• Evaluation will be done on basis of performance and feedback received from the following:
• Self
• Reporting Officer (e.g., For CM feedback will be provided by BM and so on)

Leave
• Probationer and trainees will be eligible for Casual Leave and Medical Leave as per Leave Policy
• Confirmed employees are eligible for all leaves as per Leave Policy

Compensation and Benefit

• Trainees will be eligible for a stipend during traineeship period
• Trainees and Probationer will be eligible for benefits as mentioned in Staff Benefit Policy
• Upon confirmation, employee will be eligible for revised compensation and benefit as
mentioned in Compensation and Benefit Policies

Responsibility
• HR Department will facilitate confirmation process
• Reporting Officer will provide feedback of probationary staff / trainees
• Respective Department Head will review feedback and assess performance to
confirm/terminate probationary staff / trainees
• HR will provide a list of employees waiting for confirmation by the end of each month to
Department Head
• HR will coordinate with Department Head to schedule the performance review.

If any trainee employ wants to leave, she/he has to give notice of 7 days prior to his resignation.

11. Performance appraisal policy

Ambition aims to be a workplace where employees find immense scope for learning and
development. To do so, a formal performance appraisal and feedback system is required. The
system aims to develop an environment where employees share feedback with each other on
their performance, conduct and behaviour. Such system will not only benefit the employees to
know their strengths and scope for improvement, but also help in continuous improvement of
organizational strengths and overall work environment.
Ambition believes in linking individual goals of employee with department goals. In turn,
department goals are linked to organizational goals and objectives of Ambition.

Performance appraisal system of Ambition aims at:

• Improving the effectiveness of the organization by contributing to achieving well-motivated and
competent employees
• The appraisal discussion is a two-way communication exercise to ensure that both the needs of
the individual and of the organization are met
• Aligning individual objectives with departmental, organizational objectives and core values
• Reviewing the previous year’s achievement, and will set an agreed Personal Development Plan
for the coming year for each member of staff
• Encouraging employees to achieve individual and departmental goals
• Focusing on performance improvement and personal development skills like leadership,
 communication, presentation, etc.
• Monitoring and rewarding high performers
• Fair and equitable process

11.1. Policy Guidelines

Goal Setting and Performance Planning
• Senior Management Group1 will develop organizational goal and Annual business plan based
on strategic goals of Ambition
• Department Head will set goals for his/her department at the start of financial year based on
the annual business plan and share with Senior Management & HR Department.
• Goal setting and performance review will be done for a period of six months for Line managers
• Reporting Officer will share department goals with employee at the start of the review period
on a half yearly basis
• Department goals will clearly mention the team and individual responsibilities as well as the
timeline for completion of the task

Mid-Year Review
• HR Department will initiate the process in the month of October to review the progress of the
appraisee
• Appraisee and Appraiser(s) will provide assessment on each of the factors mentioned in
Performance Appraisal Form(s) and Goal Sheet to HR Department
• HR Department will arrange a meeting between Appraisee and Reviewer focusing on:
• Feedback on progress made in last 6 months
• Points of improvement, area of strength and weakness
• Course of action for remaining months
• Reviewer will ensure that proper feedback, both in writing as well as verbally, is shared with
Appraisee
• Reviewer will share the filled-in Performance Appraisal Form(s) with HR Department

Final Review
• HR Department will initiate the process in the month of April to evaluate the performance of the
Appraisee
• Appraisee and Appraiser(s) will provide assessment on each of the factors mentioned in
Performance Appraisal Form(s) and Goal Sheet to HR Department
• HR Department will arrange a meeting between Appraisee and Reviewer focusing on:
• Progress in the last financial year
• Target achieved as per annual performance plan
• Achievements and initiatives taken in the last financial year
• Key responsible areas
• Reviewer will provide the final rating of Appraisee based on the factors mentioned in
Performance Appraisal Form
• Reviewer will ensure that proper feedback, both verbally as well as in writing, is shared with the
Appraisee highlighting:
• Area of Strength

1
Senior Management Group consists of- Department heads, CXOs
 • Area of Weakness/Scope for Improvement
• Performance Rating
• Reviewer will share the filled-in Performance Appraisal Form(s) with HR Department

Documentation and Filing

• HR Department will ensure confidentiality of information related to Performance Appraisal
• HR Department will document and file the Goal Sheet and Performance Appraisal Forms under
individual employee for future reference by Management

Responsibility:
• Goal Setting and Performance Planning
• Department Head will be responsible for goal setting of department
• Department Head and Reporting Officer will be responsible for goal setting of individual
employee
• Mid-Year Review
• HR Department will be responsible to initiate the process
• Reporting Officer will be the appraiser
• Reporting Officer and Department Head will be the Reviewer
• CEO, COO and Department Head will be the Reviewer for Manager and above position
• Final Review
• HR Department will be responsible to initiate the process
• Reporting Officer will be the appraiser
• Department Head will be the Reviewer
• HR Department will be responsible for documentation and filling
• CEO, COO and Department Head will be the Reviewer for Manager and above position
• Performance feedback will also be considered at the time of employee’s increment, incentive,
and promotion

Feedback Matrix
• Feedback on performance and behavior of Appraisee will be gathered as per the following
matrix:

Appraisee Appraiser Peer

Same Dept. Other Dept.
Centre Manager
Branch Manager
Executives
Area / Assistant
Manager
Manager
General Manager

Salary Increase
• Performance evaluation is linked with yearly compensation review. We endeavor to equate our
wage levels with the relevant industry standards, and salary adjustment might happen as and
when the firm deems it is required.
• The yearly salary increment is scheduled in April, following the annual employee evaluation, and
is based on market trends in a similar business.
• The proportion of compensation increase, on the other hand, will be determined by the
employee's and the company's performance.

12. Travel and Expenses Policy

12.1. Policy Guidelines

All employees are responsible for:
• Exercising good judgment and discretion in spending company funds so that expenses
incurred
• are necessary, have a good business purpose and are reasonable.
• Requests for business travel should be made by the employee and approved by the
immediate
• manager. Approval can be over email.
• Upon return from business travel, employees are expected to claim reimbursements for
• expenses by the submission of all original receipts. In case of a lost receipt, approval needs
to be obtained from the immediate manager.

Types of Expenses and their Limits

• Travel
• Local Conveyance incurred while on tour. e.g., Residence to station
• Boarding/Lodging
• Food expenses- e.g., Breakfast, lunch, and dinner
• Miscellaneous Expenses

The maximum limit for allowances is as follows:

HR Functional Travel Lodging (on Lodging Food/ Conveyance

Designation Designation Mode/Class Actuals) In B (on Boarding
and C tier Actuals)
towns/cities in A
cities

Executive CM, SCM, DO Bus / Train Rs. 600/- Rs. Rs. 300 Public
sleeper 1000/- for transport –
class overnight As per
actuals
Sr. Executive ABM, BM, Bus / Train Rs. 600/- Rs. Rs. 350 Public
Audit sleeper 1000/- for transport –
Executive class overnight As per
actuals
Asst. Area Bus/ Train Rs. 800/- Rs. Rs. 400 Public
Manager Manager, sleeper 1200/- for transport –
Asst. class/ Rail overnight As per
Manager III A/C actuals
 (Risk & beyond 6-
Audit) hour
journey
Dy. Manager Divisional Train III Rs. 1200/- Rs. Rs. 500 Public
Manager, A/C 1800/- for transport/
DM – Audit overnight Pvt. Car (AC)
hire after
approval –
as per
actuals
Manager/Sr. State Head Train II A/C Rs. 1500/- Rs. Rs. 600 Pvt. Car
Manager 2000/- for (A/C) hire –
overnight as per
actuals
AVP Regional Train II A/C Rs. 1800/- Rs. Rs. 700 Pvt. Car
Head *Air travel 2200/- for (A/C) hire –
on prior overnight as per
approval actuals
VP Zonal Head Train II A/C Rs. 2000/- Rs. Rs. 800 Pvt. Car
/ Air travel 2500/- for (A/C) hire –
overnight as per
actuals

• Local Conveyance by Taxi / Car should be supported by proper bills

• “A” Cities – Delhi, Mumbai, Pune, Hyderabad, Kolkata, Chennai, Gurgaon.
• “B” Cities- District towns other than A
• “C” cities- other than A and B
• Original Train/Bus Tickets must be enclosed with the expense statements
• All limits including GST
• Whenever expenses are claimed on actual basis, original bills are to be attached along with
Tour
• Expense Statement. The Tour Expense Statement should be produced immediately to the
• Accounts Department after taking the approval of the reporting senior.

Boarding and Lodging expenses: Original bill must be enclosed with the statement. In case, the
hotel bills are above the limit; reason must be given to the reporting officer.
13. Promotion & Increment policy
Ambition aims to provide career advancement opportunities for employees to develop and utilize
their potential and recognize their performance. The basic principles of promotion in Ambition
are ‘equal opportunities’, ‘non-discrimination’ and the ‘right person for the right job’.
It is in the interest of the company and the individual to encourage employees to seek and gain
advancement within the company. The management reserves the right to appoint the most
suitable person to any post. This policy aims at:
• Integrating growth opportunities of employees with organizational growth
• Motivating employees for better performance and
• Ensuring continuity in the organization

13.1. Policy guidelines

• Promotion will be based on vacancy in the next level and as per business requirement
• Management will decide basic promotion criteria (e.g., years of experience, qualification,
skills) and number of vacancies as per business requirement
• The feedback of eligible candidates being shortlisted as per promotion criteria will be taken
from the following:
o Self
o Reporting officer
o Department head
o Other departments (HR Admin & Infra, Business ops, IT & MIS etc.)
• Nature of disciplinary action, if any, taken against candidate in the past will be considered as
a part of shortlisting
• The feedback of candidates will be taken on past performance on technical, managerial, and
personal competencies
• Based on the feed back, candidates will be further shortlisted to appear for promotion process
• Promoted employees will undergo induction training that will help them understand
responsibilities of their new position as per Induction Policy
• Increment and other benefits for a promoted employee will be as per the Compensation and
Benefit Policies

Responsibility
• HR department will be responsible to initiate the process of promotion across all verticals and
positions
• Department head, COO, CEO will be the final rev iewer during selection of promoted employee
• HR department will be responsible for documentation and filing related to promotion process
• HR department will be responsible to send the increment letter as per ‘Annexure C’ to the
promoted employee via email
• HR department will be responsible to send the promotion letter as per ‘Annexure D’ to the
promoted employee via email

Time and basis of promotion

• Minimum time required for promotion to next level is 12 Months.

• Promotion will be based on individual performance, department performance & company’s
performance.
• Early promotion can be done on sole discretion of management as and when need arises.
• Promotion can’t be given to any employee within 6 months of receiving notice from HR Dept
(due to any reason) even if his / her appraisal is due.
Fast Track Appraisal
• Ambition has designed a fast-track appraisal policy after six months of joining to reward an
employee's performance, with the goal of recognizing and rewarding exceptional
performance.

Loyalty Policy
• Ambition is having a loyalty policy to cultivate and maintain employees loyalty. The policy
encompasses a structured rewards program, transparent communication channels, and
mechanisms for continuous employees engagement. The Company recognises the employees
who have completed three/five/seven years in the company.

14. Compensation Policy

The objective of the policy is to attract and retain talented and skilled professionals by offering a
uniform, stable and reasonable competitive compensation structure to all employees.
Compensation is decided by multiple factors e.g., educational, and professional qualifications,
skills, work experience and performance. Compensation of employees will not be discriminated
against as per caste, sex, religion, and social status.

An employee is entitled to know his/her salary structure and benefits; however, it is confidential
and not for discussion amongst employees.

14.1. Policy guidelines

Salary Components
The salary is divided into different components as given below:
• Basic Salary
• Basic salary is a reference salary on which other components of salary, statutory contributions
and benefits are calculated. Basic salary will be ascertained per the Minimum Wages Act,
1948.
• Allowances
o House Rent Allowance
▪ HRA will be calculated as 40% of the basic salary for non-metro employees and
50% for metro employees.
▪ Employees, whose salaries are taxable, must submit their rent receipt to the
accounts department by the 1st week of January of that financial year. Otherwise,
the total amount will be taxable as per the Income Tax Act.
▪ Employees staying at their own house will not get an exemption as per the
Income Tax Act.

Corporate Salary Account

• To facilitate the transfer of salary, all employees will have a corporate salary account
• HR Dept shall initiate the process of salary account opening during the joining process
• HR shall make efforts to open salary accounts for new employees within one month from the
date of Joining.
• All employees shall be provided with a minimum Zero Balance savings bank account with ATM
/ Debit card facility
• All salary payments shall be deposited directly into the respective individual account
• The company shall have tie-up with banks to facilitate the process
• The list of banks with which the Company has tie-ups shall be communicated to the employees
from time to time
• The company shall not be responsible for the transactions between employees and the bank
• Employee can also convert his / her existing savings account to a salary account (provided the
savings account is with the company's tied-up bank). In that case, the employee needs to
submit the attached migration form (Annexure E)
• Only tied- up bank account will be treated as a Salary Account
• Salary account opening process and clause: Employees has to furnish up the following
documents to the bank authority for opening /her salary account-
o Duly filled bank application form provided by the HR department
o One recent passport size photograph of the employee
o Photo ID Proof (Aadhar card / Passport / Voter ID / PAN Card / Driving License)
o Address Proof (Any one of the following)
o Aadhaar Card
▪ Voter ID
▪ Electricity Bill (Latest)
▪ Bank statement of last 3 months up to date (one transaction in last 3 months is
compulsory, one cheque of same account and account should be 1 year old)
▪ Ration Card
▪ Passport
Leave administration
• Opening and closing date to capture leave is 1st of last month to 30th/31st of last month
• Attendance of all the employees is captured as per a particular format, which is further shared
with the HR department by the HODs of the respective department
• Last Date of Attendance Collation is 2nd of every month
• Leave Approval - Leaves availed during the attendance cycle should be approved by the
respective approval authority (refer to Leave Policy) before the closing of the attendance cycle
• Recording Information About Resignation and Absconding Employees
o If an employee resigns from duty, it is reporting officer’s duty to inform HR immediately
with employees’ date of resignation and last date of working at Ambition
o If an employee is absconding from duty, it is reporting officer’s duty to inform HR
immediately with employees’ last date of working at Ambition
o HR will share the details of staff leave, resignation and absconding cases with Department
Heads for feedback by the 2nd of every month
o Department Heads should share feedback by the 3rd of every month
• Delay in feedback will be considered for the next salary release date

Pay Period and Salary Release Day

• Salary cycle will be from 1st to last day of the month
• Salary will be credited to all by the 5th day of next month
• Any delay in the salary transfer will be notified to the employees beforehand
• The below table explains different salary releasing dates in a different scenario:
•
Dates Regular Release of Hold New ML/PL/BL/MatL Full and Final
Salary Salary Joiners Settlement
Date 5th As & when 5th N/A 10th & 25th
Deductions
• Deductions from the salary shall be subject to the various statutory regulations, Income Tax
rules and any dues to the company. Following are the deductions, which will be made from the
salary of an employee:
• Provident Fund subscription and Family pension contribution as per the EPF as per EPF Act
1956
• ESIC (if applicable)
• NPS (if applicable)
• Any other deduction, as may be required, at the discretion of management

Salary Slip
• Salary slips of each employee is uploaded in HR Portal after 15th of every month

Responsibility
• HR Department receives attendance sheet from department heads
• HR Department will share data of various deductions with Accounts Dept
• Accounts Department will deduct the salary as per the information received from HR
• Department Heads will approve LWP/ salary hold/ any deduction in salary and send to HR
• Department Heads will ensure that self and direct reports attendance reach HR on time
• Area Managers are responsible to send their self-attendance and ensure team attendance is
sent on time

Payroll Processing

• The HR department should receive joining intimation from branch within five working days of
employee joining. This is crucial for timely processing of Ecode, ESIC, and Health/Life
Insurance registration.
• New employees can join between the 1st and 27th of every month. Joining from the 28th to
the 30th of every month will be frozen.
• Attendance sheets should be received by the 1st of every month (considered till the 2nd for
Punjab).
• Payroll locking date is set for the 2nd of every month. No changes in payroll will be considered
after this date.
• Hard copies of the joining kit should be received at the Head Office by the 30th of every month.
Failure to submit the joining kit on time will result in the holding of the salary.
• Hold salary will be released on the 10th and 15th of every month.

15. Benefits Policy

Ambition provides a gamut of benefits to its employees. The benefit package includes statutory
benefits as per Indian Laws as well as additional benefits given exclusively by Ambition. This
policy aims to help employees understand various benefits provided to them and their family
members.

15.1. Policy guidelines

Insurance
• Ambition provides insurance facilities to its employees from the date of joining e.g.,
 o Group Mediclaim Insurance – From Rs.100,000/- to Rs 500,000/-
o Group Term Policies – From Rs 300,000/- to Rs 2,500,000/-
• Refer to insurance policy for details related to eligibility, claim settlement process etc.

Employees Provident Fund

• Every Employee contributes 12% of his/her basic salary
• Ambition will contribute 12% of the basic salary towards the Employees Provident Fund of
each employee

Employees State Insurance

• Every employee whose gross salary is below a prescribed limit will be eligible for benefits as
per the Employee State Insurance (ESI) Act,1948
• Employees will be eligible for ESI benefits from the date of joining of Ambition
• As per ESI Act, employees must contribute 0.75 % of basic salary towards availing ESI benefits
and 3.25% to be contributed by Ambition. However, Ambition bears employee’s contribution
and deposits 0.75% + 3.25% towards ESI

Gratuity
• Gratuity will be paid to the employee as per Payment of Gratuity Act, 1972
• All employees having 5 years of continuous service with the company are eligible for payment
of Gratuity
• In the case of disability/death, 5 years continuous service is not mandatory. In such cases
eligibility commences after completion of one year of service
• Maximum gratuity payable cannot exceed Rs. 10 lakh

Lump-Sum Payment
• To certain employees, a Lump sum payment as decided by the management will be disbursed
based on their valuable contribution rendered to the company. The payment is not a right and
is a prerogative of the management to identify and award lump-sum payment to an employee.

Incentive and Bonus

Bonus
• Employees who perform exceptionally well may get lump-sum bonuses (one-time bonus
payments) from our organization. "Exemplary performance" is defined as:
o Exceeding financial and non-financial targets.
o Performing additional responsibilities from what is expected.
o Setting a good example for other employees in terms of professional behaviour (e.g.,
teamwork, ethics, leadership).
• When managers believe a team member is deserving of a bonus, they should write a formal
written recommendation to their Department Head and HR, detailing how their team member
performed admirably.

Incentive
Ambition may set incentive plans at the beginning of each year. The plans may involve:
• Incentive bonuses to encourage employees to achieve the annual company's financial
targets. These are company-wide incentives that top management may declare at the start of
the year. [These bonuses might be determined using a tiered method (e.g., 5% for achieving
80% of the target, 10% for achieving the goal, and 20% for surpassing the goal.)] Each
employee should be given a documented payout plan by HR.
• Incentive bonuses for achieving or exceeding individual and team targets.
 Department heads oversee creating these strategies and establishing particular objectives. For
example, they may elect to reward sales teams that surpass their sales or revenue objectives
with a quarterly bonus (a percentage of individual sales). Department heads should submit
their plans to HR and CEO for approval (within the first quarter of the year).

Mess Facility
Ambition will provide mess facility at its all branches for the employees. The mess facility
provides a dedicated space for employees to enjoy meals during working hours eliminates the
need for them to venture outside in search of food, saving valuable time and promoting a
healthier work-life balance. This convenience can positively impact employee morale and job
satisfaction. Additionally, a well-balanced and nutritious diet can enhance overall health,
which, in turn, can lead to improved concentration and increased energy levels.

CUG SIM cards

Ambition will provide CUG SIM cards to its all employees which streamline communication
and enhance connectivity within their workforce. CUG SIM cards offer a closed network
environment, enabling employees to communicate seamlessly and cost-effectively within the
designated group. The following guidelines shall be followed in this regard:

The activated SIM Cards will be given with the following features and specifications: -

a) Unlimited calling, 100 messaging per day with all network.

b) Compatibility with the latest 4G/5G networks for improved connectivity.
c) 1.5 GB data per day.
d) One CUG SIM card will be issued on one route (SIM Card route will not be changed).

In case the employee resigned or transferred: -

Upon the resignation or transfer of an employee, the concerned employees will surrender their
CUG SIM Card to their reporting Manager on their last working day.

The reporting manager is responsible for ensuring that the departing employees hands over
the CUG SIM card on their last working day and provides consent on the exit form accordingly.

Subsequently, the reporting manager is required to transfer the CUG SIM card to the newly
appointed employee, following the CUG SIM card handover format provided in the attached
annexure.

In case of employee absconded: -

In the event of an employee absconding, the reporting manager must promptly notify the Head
Office (HO) team within three days of the occurrence. This notification should be accompanied
by an email marked to the HO HR & Admin team, containing relevant details as reported by
the manager.

The HO Team is obligated to provide a new SIM card within a week in cases of employee
abscondence. Additionally, it is emphasized that all CUG SIM cards remain under the tracking
purview of the Head Office for administrative purposes.
Responsibility
• The following departments will be responsible for the maintenance or processing of each
benefit:

Insurance HR & Admin Department

Employees Provident Fund HR & Admin department and Accounts Department
Employees State Insurance HR and Accounts Department
Gratuity HR and Accounts Department
Salary Advance HR and Accounts Department
Lump sum payment HR and Accounts Department
16. Transfer policy
Transfer of employees is done based on the business needs of the organization. It
not only benefits the company but also helps employees sharpen and acquire new knowledge
and skills in different settings. Simultaneously this helps employees learn and experience a
different culture, landscape, and socio-economic environment.

16.1. Policy Guidelines

Terms and conditions of Transfer
• Field Staff (Business operations department, Audit department)
o All transfers will be done in consultation with the employee’s reporting officer
o Employee will be informed 7 days prior to the actual date of reporting at the transferred
branch
o Duration of notice may be curtailed in case of an emergency
o Reporting Officer will ensure the completion of proper job handover before the transfer of
the employee
o HR will facilitate employee’s relocation in case of transfer between regions/states
o Operations Department will share details of the transfer of field staff with HR Department
o HR Department will update employee transfer details in Employee Database
o Normally field employees (Centre Manager) will be compulsorily transferred after 1.5
years, Branch Manager after2 years at a Branch/location
o Employees can also be transferred from one vertical to another vertical based on business
requirements and his/her suitability for the job position. In such cases, HR Department will
issue a Transfer letter to the employee

Support Staff
o All transfer will be done in consultation with employee and his/her reporting
officer keeping HR Department in loop
o Employee will be informed regarding transfer 7 days prior to date of transfer
o Reporting Officer will ensure the completion of proper job handover before transfer of
employee
o HR will issue transfer letter to employee
o HR will facilitate employee’s relocation in case of transfer between regions / states
o Departments will share details of transfer of staff with HR Department
o HR Department will update employee transfer details in Employee Data Base
o Employee can also be transferred from one vertical to another vertical based on business
requirement and his/her suitability for the job position. In such cases, HR Department will
issue a Transfer letter to the employee
o In case of transfer from one to other department, the transfer will be effective only after
approval is received from respective Department Heads (new and previous)
o In case application is sought from employees for transfer, short-listing of the same
will based on past performance, qualification, experience, and his/her suitability for the job
position

Transfer Leave
• Employee will get 1 days leave if transferred location is more than 100 km and less than 300
km
• Employee will get 3 days leave if transferred location is more than 300 km
• Distance between current location and the new location will be calculated by the shortest
route possible
• Transfer leave includes the time taken to reach new location
• Travel Leave cannot be encashed, adjusted with other leave or forwarded to next year
Resettlement/Relocation Reimbursement
This is reimbursement of expenses incurred by the transferred employee in shifting luggage,
motorbike by using the most cost-effective transportation
• Eligibility
o All employees (excluding CM) are eligible for relocation allowance
o Reimbursement of expenses will be made only for inter-state and inter-region transfer
o The employee will have to submit actual bills against the expenses incurred in shifting
luggage, motorbike within 15 days from the date of expense incurred
o The employee will be reimbursed for incurring shifting expenses up to the maximum of
one’s half month gross salary or actual expenses (supporting bills) whichever is less
o If an employee is transferred from one city to another city, his/her family members
(husband/wife, and dependent children/parents of the employee) will be entitled to one-
way traveling expenses

Responsibility
• Department Head will be responsible to share transfer data with HR after receiving
information of transferred employee
• HR will be responsible for updating transfer information into Employee Data Base (EDB)
• Operation department will be responsible to facilitate the transfer of field staff (except region
/ state change)
• HR will be responsible to facilitate the transfer of support staff
• HR will be responsible for generation of transfer letter as per ‘Annexure F‘ and issuance of
same in case of transfer of support staff only
17. Disciplinary Action Policy
Ambition operates under a set of values, which are derived from its code of conduct (refer to the
‘Working at Ambition’ policy) and all employees are supposed to adhere to that code. Any
violation of the core values and the basic code of conduct would automatically lead to disciplinary
action. All employees must imbibe these standards so that they are aware of their duties and
responsibilities and also perform effectively. Ignorance of any set standards, code of conduct,
policies and procedures cannot be considered as a defense against any disciplinary action.

The purpose of this policy is to ensure that all employees conduct themselves in a professional
manner and in accordance with the objectives, policy, and principles of the organization, to
promote a healthy work environment. An employee who does not conduct himself/ herself in a
proper manner must be corrected through appropriate disciplinary action. The policy is to correct
and prevent violations rather than to penalize the employee. It also sends a message to the larger
organization regarding beliefs and values.

17.1. Policy guidelines

Steps for disciplinary action
The standard steps under the disciplinary action are:
• Verbal Warning - one to one discussion with the employee in an informal setting in case of
indiscipline being noticed the first time that is of non-serious matter such as reaching late to
the office first few times, not maintaining cleanliness in the office.
• Written warning - formal notification in writing to the employee.
• Suspension – loss of work and wages for a specified number of hours or days.
• Discharge - termination of employment.

Ambition considers the seriousness, repetition, and the employee’ response while deciding on
the disciplinary action. In the most serious cases, termination may be the first and only
disciplinary action taken. The following offenses may warrant immediate termination, without
any prior warnings or the disciplinary actions-

• Breach of Ambition’s standards with respect to integrity, ethics, honesty, sincerity, and loss
of confidence
• Failure to follow the rules and regulations
• Willful suppression or misrepresentation of material information
• Negligence, carelessness, or inefficiency in performing one’s duties

The disciplinary action will be taken in the following stages and the employee will be reminded
of the repercussions if he or she continues or repeats the offence at each level:

• Verbal Warning
o A meeting should be arranged between the employee and the immediate manager to
discuss the issue (less severe act, list under Level 1 in ‘Annexure G’) and establish a
timescale for improvement
o One member from the HR department should be present at the meeting
o A note stating the problem and the warning given, should be compiled by the manager
o A duly signed note with acknowledgement of the employee should be filled in the
employee’s personal file

• Written Warning
o If there is no improvement, after verbal warning, or where written warning is necessary,
reporting officer should hold a disciplinary meeting at which a written warning should be
 given, stating that any further misconduct or continued failure to make correction will
render the team member liable for severe action including suspension or dismissal.
o Wherever possible, an HR representative should be present in the disciplinary meeting
along with the reporting officer
o The warning letter is to be sent to a branch employee. The HR person should explain to the
concerned employee as to the reason for sharing such letter and advise the employee to
adopt the desired behaviour or act according to the suggested timeline
o A copy of the letter (see ‘Annexure H’ for a sample warning letter) with due
acknowledgment should be filed in the personnel file of the employee.

• Suspension
o If there is no improvement after written warning, the employee may be suspended from
his/her duties for a period as per the discretion of the reporting officer
o The suspension letter will be issued by the HR department. Refer sample suspension letter
in ‘Annexure I’
o A copy of the letter with due acknowledgments will be filled in the employee’s personal file

• Termination
o Termination letter will be issued to the employee on completion of the disciplinary
proceedings. Refer sample termination letter in ‘Annexure J’
o Examples of unsatisfactory performance and misconduct include integrity, repeated late
coming, unauthorized or unexplained absence, failure to follow established departmental
or working rules and procedures, failure to comply with sickness notification and
certification procedures, errors in the performance of your duties or slow work,
unsatisfactory attitude or lack of co-operation, being a disruptive or unsettling influence on
other team members.

There are various sources whereby the MFI can observe/notice actions and conducts of
employees against the company policy and code of conduct. To name a few are internal audit
report, monitoring report, complaints by other employee and by other stakeholders such as
customer, vendor, etc.

Employee’s Rights
An employee has every right for a fair hearing during all the stages of disciplinary action. A legal
consultant should be hired to help the organization in describing the rights of the accused
employees keeping the law of the land into account. The rights of the employee should be
mentioned in the disciplinary action policy document.

Disciplinary Issue
• Unauthorized leave / Absence: An employee who is on leave from a few days without any prior
information/intimation to reporting manager or HR, is liable to face disciplinary proceedings
against him. The steps followed by organization in such cases is as mentioned below:
o First a letter will be issued to the absent employee stating that if he/she is not able to join
within the stipulated time, then he/she is bound to face ex-parte disciplinary proceedings.
o If the employee joins within the stipulated time, then he/she should first provide the
organization a written explanation for his absence. If the management is satisfied with the
explanation, then joining letter will be accepted otherwise disciplinary proceedings will be
contemplated as unauthorized absence constitutes misconduct.
o If the employee does not join/reply to the letter within the stipulated timeframe then ex-
parte disciplinary proceedings will be conducted, amounting to termination of
employment.
18. Separation and Settlement policy
The objective of this policy is to ensure smooth exit and transition of an employee so that
Ambition continues to run smoothly and maintains a good employer-employee relationship. The
policy on employee separation should ensure that the benefits applicable to the employee on
separation are made available. To name a few benefits are settlement of leave against notice
period, encashment of leave, cash in lieu of notice period. The policy also provides an opportunity
to obtain feedback from the separating employees.
Ambition treats all employees separating from the company with utmost dignity. In case of
resignation by any employee voluntarily leaving the service of the company for professional or
personal reasons, the employee should serve a written resignation.
This policy provides guidelines on various modes of separation from employment, exit
procedures, and full and final settlement procedures.

18.1. Types of separation

Separation can be categorized as either voluntary or involuntary. Voluntary separation includes
resignation, quitting without notice (unauthorized absence leading to job abandonment),
retirement, etc. Involuntary separation includes termination of services by the organization on
account of unsatisfactory performance, negligence in performing work, serious issues like
violation of code of conduct, etc. While carrying out the separation process, Ambition will adhere
to the labour laws and other relevant laws to avoid any conflict or penalty.

Resignation
• If the employee wants to resign, he/she should submit a letter of resignation to the HR
department
• The letter of resignation should be dated, cite the reasons for resignation, and mention the
desired effective date of resignation
• The resignation letter should be submitted to his/her reporting officer
• The reporting officer will discuss and obtain the approval from the concerned authority. Such
approval may be given by email and the same should be forwarded to HR
• If the resignation letter is being submitted in hard copy, the approval authority should forward
to HR the accepted copy of the resignation letter along with the approved relieving date
• Employees will serve 7 days’ notice period while on probation and 45-60 days’ notice period
after confirmation. The number of days of notice required to be served should be mentioned
in the employment offer letter, also called as terms of employment
• Ambition, after accepting the resignation, may relieve the employee after completion of the
notice period and exit formalities.
• Employee will not be entitled leave encashment in F&F settlement if the employee does not
serve the complete notice period in any situation.

Job Abandonment
• Unauthorized absence from work for a period of more than 3 working days shall constitute Job
Abandonment and can be considered as a voluntary separation
• In such circumstances, the HR department needs to send a letter (by registered post with
acknowledgement) to the concerned employee at his/her address (as per records in the
personnel file) and formally terminate the services of that employee with the organization
• In case of any recovery of company finance or assets to be made from the employee concerned,
HR needs to send a notice to that effect with all the relevant information

Termination
An employee can be terminated on the grounds of non-performance and disciplinary action.
Ambition can terminate an employee on any of the following grounds:
o Breach of Ambition’s values and code of conduct
o Failure to follow the rules and regulations of Ambition
o Any false or misrepresented information or any willfully suppressed material information
o Guilty of moral turpitude or of dishonesty in dealing with Ambition’s material document
o Theft or misappropriation of Ambition’s property regardless of the value involved
o Gross negligence or carelessness or inefficiency in performing the duties as envisaged
under the discipline and conduct rules
o Failure to carry out and perform duties assigned
The disciplinary action policy should be referred to gather further details on the reasons for which
an employee may be terminated. The termination on any of the above grounds is solely at the
discretion of the management. Ambition can terminate the services of an employee without notice
or any compensation in lieu of notice period. Employees have the right to appeal against the
decision taken on termination. CEO’s decision would be final in such instances.

Retirement
The retirement age at Ambition is 62 years. However, pertaining to the retirement age,
Ambition will adhere to the employment laws prevalent in India. The HR Department will inform
the individual employees, six months prior to retirement, about the retirement date and benefits
that can be expected.

Unfortunate Demise of Employee

In the case of separation due to the death of the employee, the HR Department will take the
following action immediately after receiving the information of death:
o Inform the employee’s family members that the organization would settle the account
within 10-15 working days from the date of death
o Collect the death certificate from the family member
o Ensure that all the necessary claim forms for Provident fund, Gratuity and Group Insurance,
ESIC, NPS, etc., gets filled, with inputs from the nominee, where relevant
o Cancellation of Signing Authority (Internal & External) on the grounds of death
o Cancellation of power of attorney on the grounds of death
o Estimation of loan and advance amount
o Computation of service period for the calculation of the final settlement amount

Full & Final Settlement

When an employee severs his ties with the organization either in the form of resignation or being
dismissed, a computation of all dues due to the employee and what employee owes to the
organization in return is known as the Full & Final settlement process and F&F is done within 45
days from the date of exit.

Responsibility
o HR department is responsible for completing Employee clearance checklist as per
‘Annexure K‘
o HR department is responsible for completing Employee exit interview as per ‘Annexure L’
19. Employee Grievance Management Policy
A complaint may arise out of anything connected with Ambition that an employee thinks
or, believes is unfair, unjustified, or inequitable. But complaint becomes a grievance once it
is formally registered in writing by the employee.
The policy provides a formal communication channel to settle a grievance as soon as possible
after the problem arises. Grievances being redressed under this policy are:
• Behaviour and discipline of subordinate, peers, and supervisor
• Work environment, work conditions or work group dynamics
All employees are permitted to express their grievances through proper channels as per defined
procedure. No employee will be penalized in any way for voicing legitimate grievances through
the appropriate channels.

Exclusion
The complaint regarding the following will not be covered under this policy. This will be covered
under Whistle Blower Policy:
• Illegal activities: Violation of Indian laws
• Fraud: Theft or misuse of Ambition funds or assets
• Personal endangerment: Physical and/or mental harassment to any Ambition customer or
staff
• Sexual harassment: Physical act or any suggestive actions or communication
• Abuse of authority: Significant abuse of authority including, but not limited to, extortion,
coercion, bribery, and leaking confidential information

19.1. Policy Guidelines

Grievance Registration
• Every employee should try first to resolve his/her complaint with the reporting officer about
o Peers and subordinates on their working style, discipline, and behaviour
o Work environment
• If complaint is regarding the reporting officer, the employee must share the same with next
higher authority
• If the complaint is against the behaviour of any support staff, the same must be shared with the
HR Helpdesk
• If complaints are not resolved up to the satisfaction of the aggrieved employee, the same can
be escalated to Corporate/Regional HR in writing
• If an aggrieved employee wants to register a grievance against a decision, the same must be
followed first and then the grievance will be registered

Grievance Redressal
• It will be the duty of HR to analyse, define and divide the nature of dissatisfaction and submit
the same to Grievance Redressal Committee within two working days from the date of
grievance received
• In case of any critical issue which may require some time to arrive at conclusion or decision, it
will be the duty of HR to follow up with the committee and give an update to the aggrieved
employee
• HR Helpdesk will analyze, define, and divide the nature of dissatisfaction and submit the same
to Grievance Redressal Committee within two working days from the date of
complaint received
• HR Helpdesk will intimate the employee about the next step
• HR Helpdesk will fix meeting with employees and committee if required
• The committee will take necessary action and make clear to the employee about the decision
or the next step
• Helpdesk will follow up with committee if issue is not resolved within TAT, Helpdesk will
update the same to the complainant and escalates issue to next higher level
• Higher level will take necessary action to resolve the issue in given time
• Higher level will send action taken report to Helpdesk
• Helpdesk will inform action report to employees by mail or call

20. POSH policy

Ambition Services Pvt Limited (ASPL) is committed to ensuring that the work environment at all
its locations is conducive to fair, safe and harmonious relations between employees and other
stakeholders (i.e., investors, customers, suppliers, interested publics etc). ASPL firmly believes
that women have fundamental rights to (i) equality; (ii) life and to live with dignity; (iii) to
practice any profession or to carry on any occupation, trade or business including a right to a safe
environment free from sexual harassment.
ASPL is committed to provide an environment where women can work or interact with dignity
and expect protection against sexual harassment. This Policy is created on the background of “The
Sexual Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013”
and enunciates the Company’s approach to the issue of sexual harassment and its policy for
dealing with any incidence of the same. The offenders shall have to face the exemplary
punishment for misconduct provided under his/her service rules, including termination of
service and the legal proceedings according to the nature and seriousness of the offence.

Scope
This Policy applies to all workplaces of Ambition and the individuals who are employed in a
permanent or temporary capacity at any business location or deployed/visiting at the customer
site by the Company and to the stakeholders of the company. This Policy document will be made
available to all divisions associated with the Company with a clear objective to establish a similar
approach in dealing with this issue.

Definition
“Aggrieved woman”, in relation to a workplace, a woman, of any age whether employed or not,
who alleges to have been subjected to any act of sexual harassment by the respondent.

“Respondent” is a person against whom the aggrieved woman has made a complaint.

“Employee” means a person employed at a workplace for any work on regular, temporary, ad hoc,
or daily wage basis, either directly or through an agent, including a contractor, with or, without
the knowledge of the principal employer, whether for remuneration or not, or working on a
voluntary basis or otherwise, whether the terms of employment are express or implied and
includes a co-worker, a contract worker, probationer, trainee, apprentice or called by any other
such name.
“Employer”, in relation to any department, organisation, undertaking, establishment, enterprise,
institution, office, branch or unit of the appropriate Government or a local authority, the head of
that department, organisation, undertaking, establishment, enterprise, institution, office, branch
or unit or such other officer as the appropriate Government or the local authority, as the case may
be, may by an order specify in this behalf.

In any workplace not covered above, any person responsible for the Management, supervision,
and control of the workplace.
“Appropriate Government” means, in relation to a workplace which is established, owned,
controlled, or wholly or substantially financed by funds provided directly or indirectly – (A) by
the Central Government or the Union territory administration, the Central Government; (B) by
the State Government, the State Government.

In relation to any workplace not covered under above, and falling within its territory, the State
Government.

A broad definition of “Sexual Harassment” consists of any physical or verbal behavior and any
form of communication that has unnecessary, improper, or unwelcome sexual connotations.
Sexual harassment may vary in form depending on circumstances. It may consist of, but not
limited to, any of the following:
• Unwelcome sexual advances, requests for sexual favours, display of sexual visuals, sexual
audios, pornographic or obscene material and any other verbal or physical conduct of a sexual
nature
• Transmitting any message, by mail, telephone, e-mail etc. which is obscene, lewd, suggestive,
or blatantly sexual in nature
• Any explicit or implicit communication wherein a sexual favour or demand, whether by words
or actions, is made a condition for an individual’s employment, career progress, promotion etc.
thereby creating a hostile environment
• Sexually charged jokes or remarks and behaviour which have sexually oriented innuendoes
• Consistent pattern of unnecessary physical contact, staring or targeting unreasonable
attention at an individual in day-to-day dealings
• Any pervasive pattern of behaviour that makes employees uncomfortable, insecure or feel
humiliated or disadvantaged based on gender differentiation
• Physical & sexual assault
• As mentioned above, this is an indicative but not exhaustive list of possible forms of sexual
harassment.

Circumstances which may amount to sexual harassment

The following circumstances, among other circumstances may amount to Sexual
harassment: –
• Implied or explicit promise of preferential treatment in her employment; or
• Implied or explicit threat of detrimental treatment in her employment; or
• Implied or explicit threat about her present or future employment status or
• Interference with her work or creating an intimidating or offensive or hostile work
environment for her; or
• Humiliating treatment likely to affect her health or safety.

Constitution of Internal Complaints Committee (ICC)

ASPL, being a business correspondent, does not have the required manpower at the branch level
in accordance with the constitution mentioned in the act (Annex 1), considering it ASPL will
create necessary Committees at the Divisional/State level. Wherever ICCs are not formed at
Divisional/State level due to the non-availability of suitable women employees, the ICC created
at HO level will be the responsible Committee. The email id for the HO level ICC is
[email protected] and the names of the members of HO Committee and their contact details
are given below:
 S.No Name Role Contact Details Location

Presiding Mobile: 8368560860

1 Pooja Kumari Delhi
officer Email: [email protected]

Sunny Mobile: 7827880478

2 Member Hapur
Choudhary Email: [email protected]

Mobile: 9899173362
Praveen
3 Member Email: Delhi
Choudhary
[email protected]

Mobile: 9758225559
4 Anoop Kumar Member Haryana
Email: [email protected]

Chandni Mobile: 9315015217

5 Member Noida
Kumari Email: [email protected]

Harsh External Mobile: 9910640404

6 Delhi
Shrivastava Member Email: [email protected]

The CEO, Ambition Services Pvt Limited (ASPL), will provide all necessary support to the work of
this Committee.

How to make a complaint

• Any aggrieved woman may make a complaint of sexual harassment in writing to ICC within a
period of three months from the date of incident and in case of a series of incidents, within a
period of three months from the date of last incident. If the aggrieved women is not in position
to write the complaint, the Presiding Officer, or any member of the Internal Committee, shall
provide all reasonable assistance to the woman for making the complaint in writing. The
Committee may, for the reasons to be recorded in writing, extend the time limit not exceeding
three months, if it is satisfied that the circumstances were such which prevented the woman
from filing a complaint within the said period.
• Where the aggrieved woman is unable to make a complaint on account of her physical or
mental incapacity or death or otherwise, her legal heir or such other person as may be
prescribed may make a complaint under this section.

Complaint handling process

The Company has established the following process to ensure that any incidence of sexual
harassment is dealt with appropriately, sensitively, and expeditiously.
On receipt of the complaint the ICC, shall send one of the copies of complaint as well as all relevant
documents along with complaint received from the aggrieved woman to the respondent within a
period of seven working days.
The respondent shall file his reply to the complaint along with his list of documents and names
and addresses of witnesses within a period of not exceeding ten working days from the date of
receipt of documents.

Complaint redressal procedure

• Conciliation Proceedings
 o ICC before initiating any inquiry may at the request of the aggrieved woman take steps to
settle the matter between her and the respondent through conciliation. Provided that no
monetary settlement shall be made as a basis of conciliation
o If a settlement has been arrived at, ICC shall record the settlement so arrived and forward
the same to the ASPL Management for taking action as specified in the recommendations
o ICC shall make available copies of the recorded settlement to the aggrieved woman and the
respondent
o Where a settlement has been arrived at as above, ICC shall not conduct any further inquiry
• Inquiry Proceedings
o ICC will initiate the enquiry process in the below mentioned situations, in line with the
domestic inquiry procedure being followed by the Company
o If no settlement takes place under a conciliation proceeding and the respondent is an
employee, proceed to make inquiry into the complaint. And in matter of non-employee the
same may be forward to the Police
o Where the aggrieved woman informs the Internal Committee, that any term or condition of
the settlement arrived has not been complied with by the respondent, the Internal
Committee shall proceed to make an inquiry into the complaint. And in matter of non-
employee the same may be, forward to the Police
In conducting the enquiry, a minimum of three members of the ICC including presiding officer
shall be present.
o Where both the parties are employees, the parties shall, during the course of inquiry, be
given an opportunity of being heard and a copy of the findings shall be made available to
both the parties enabling them to make representation against the findings before the
Committee.
o For the purpose of making inquiry, ICC shall have the same powers as are vested in a civil
court the Code of Civil Procedure, 1908 (5 of 1908) when trying a suit in respect of the
following matters, namely: –
▪ Summoning and enforcing the attendance of any person and examining him on
oath
▪ Requiring the discovery and production of documents
▪ Any other matter which may be prescribed
o The inquiry proceedings shall be completed within 30 days in normal scenario and may
extend to a maximum period of ninety days from the date of commencement of the inquiry.
Reasons for any delay than the above-mentioned time limit should be recorded in writing.
o During the pendency of an inquiry, on the written request made by the aggrieved woman
ICC may recommend to the employer to (a) transfer the aggrieved woman or the respondent
to any other workplace (b) grant leave to the aggrieved woman (c) grant such other relief
as may be prescribed. If the case is proved, the leave granted under this section will be in
addition to the leave she would be entitled to otherwise. ASPL Management will implement
the recommendations made by the ICC and forward an implementation report to the ICC
o On completion of the inquiry ICC shall provide a report of its findings to the Management
within a period of ten days from the date of completion of the inquiry and such report be
made available to the concerned parties.
o If the ICC concludes after the inquiry that the allegations against the respondent have not
been proved, then it shall recommend to the ASPL Management that no action need to be
taken in the matter.
o Where the Internal Committee, arrives at the conclusion that the allegation against the
respondent has been proved, it shall recommend to the Management to (a) take action for
sexual harassment against the respondent as per service rule (b) to deduct, from the salary
or wages of the respondent such sum as it may consider appropriate to be paid to the
aggrieved woman or to her legal heirs, as it may determine. If the Management is unable to
make such deduction from the salary of the respondent due to his being absent from duty
 or cessation of employment it may direct to the respondent to pay such sum to the aggrieved
woman.
o Within sixty days necessary action will then be initiated by Management based on the
recommendation of ICC, the circumstances and seriousness of the offence.

Other Points
In the case of a multi-locational context, one of the Committee members will travel to the location
in question as is required to ascertain the facts based on which the Committee would discuss and
assess the complaint in question.
The ICC shall have the right to terminate the enquiry proceedings or to give an expert decision on
the complaint. If the complainant or respondent fails, without sufficient cause, to present herself
or himself for three consecutive hearings convened by the presiding officer. Provided that such
termination of expert order may not be passed without giving 15 days prior notice in advance to
the party concerned.

Punishment for false or malicious complaint and false evidence

• Where the Internal Committee arrives at a conclusion that the allegation against the
respondent is malicious or the aggrieved woman or any other person making the complaint
has made the complaint knowing it to be false or the aggrieved woman or any other person
making the complaint has produced any forged or misleading document, it may recommend
to the Management to take action against the woman or the person who has made the
complaint as per service rule or as per the recommendations/decisions of ICC.
• Provided that a mere inability to substantiate a complaint or provide adequate proof need not
attract action against the complainant. And the malicious intent on part of the complainant
shall be established after an inquiry in accordance with the procedure prescribed before any
action is recommended.
• Where the Internal Committee arrives at a conclusion that during the inquiry any witness has
given false evidence or produced any forged or misleading document, it may recommend to
the Management to act as per service rule or as per the recommendations/decisions of ICC.

Determination of compensation
ICC while determining the compensation to be paid to the aggrieved woman shall take into
account (a) the mental trauma, pain, suffering and emotional distress caused to the aggrieved
woman (b) the loss in career opportunity due to the incident (c) medical expenses incurred by
the victim for physical or psychiatric treatment (d) the income and financial status of the
respondent (e) The feasibility of such payment in lump sum or in instalments.

Prohibition of publication or making known contents of complaint and inquiry

proceedings and the penalty
Notwithstanding anything contained in the Right to Information Act, 2005 (22 of 2005), the
contents of the complaint, the identity and addresses of the aggrieved woman, respondent and
witnesses, any information relating to conciliation and inquiry proceedings, recommendations of
the Internal Committee and the action taken by the Management under the provisions of this Act
shall not be published, communicated, or made known to the public, press and media in any
manner.
Provided that information may be disseminated regarding the justice secured to any victim of
sexual harassment under this Act without disclosing the name, address, identity, or any other
particulars calculated to lead to the identification of the aggrieved woman and witnesses. Where
any person entrusted with the duty to handle or deal with the complaint, inquiry or any
recommendations or action to be taken under the provisions of this Act, publishes the above-
mentioned details, shall be liable for penalty as per the service rule or as per the
recommendations/ decisions of ICC.
Appeal procedure
• Any person aggrieved from the recommendations of the Internal Compliance Committee or
non-implementation of such recommendations may prefer an appeal to the court or tribunal
in accordance with the provisions of the service rules applicable to the said person or where
no such service rules exist then, without prejudice to provisions contained in any other law for
the time being in force, the person aggrieved may prefer an appeal in such manner as provided
for under the Act.
• The appeal shall be preferred within a period of ninety days of the recommendations.

Duties of Management
ASPL Management will take all steps to: –
• Provide a safe working environment at the workplace with shall include safety from the
persons coming into contact at the workplace.
• Display at any conspicuous place in the workplace, the penal consequences of sexual
harassments, the order constituting the ICC, the names and addresses of its members, contact
numbers and email addresses
• Organise workshops and awareness programmes at regular intervals for sensitising the
employees with the provisions of the Act and orientation programmes for the members of the
Internal Committee in the manner as may be prescribed
• Provide necessary facilities to the Internal Committee or the Local Committee, as the case may
be, for dealing with the complaint and conducting an inquiry
• Assist in securing the attendance of respondent and witnesses before the Internal Committee
• Make available such information about compliant filed to the Internal Committee or local
committee, as it may require having regard to the complaint made
• Provide assistance to the woman if she so chooses to file a complaint in relation to the offence
under the Indian Penal Code (45 of 1860) or any other law for the time being in force
• Cause to initiate action, under the Indian Penal Code (45 of 1860) or any other law for the time
being in force, against the perpetrator, or if the aggrieved woman so desires, where the
perpetrator is not an employee, in the workplace at which the incident of sexual harassment
took place
• Ensure that the career interests of the complainant are not adversely affected by virtue of the
individual having drawn attention to such an offence
• Monitor the timely submission of reports by the Internal Committee
• HOD and State Head at all locations will also be expected to be sensitive to any circumstances
or behaviours among their colleagues which appear to go against the Company Policy on this
matter. In case they become aware of any such incidence, they will immediately inform the
head of the Committee and take appropriate action as advised
Cases not covered by or requiring relaxation of these rules or where doubt has arisen regarding the
interpretation thereof shall be referred to [email protected] & HR shall consider each case on its merit
and submit it to the HOD/COO whose decision in such cases shall be final.

Internal Complaints Committee

Constitution:
ICC will consist of members nominated by the employer.
• Presiding Officer: Presiding Officer shall be a Women employed at a senior level at workplace
from amongst the employees; (if senior level woman employee is not available, Presiding
Officer shall be nominated from other Offices or Administrative Units of the Workplace of the
same Employer or other Dept. or Organization)
• Two female members shall be appointed amongst employees preferably committed to the
cause of women or who have had experience in the following field
• In social work (ii) with legal knowledge.
• One member from amongst non-governmental organisations or associations committed to the
cause of women or a person familiar with the issues relating to sexual harassment:
• Half of the members so nominated shall be Women.

Tenure
The Presiding Officer and every member of ICC shall hold office for such period, not exceeding
three years, from the date of their nomination as may be specified by the employer. Any vacancy
arising due to termination, resignation, suspension, transfer or any other similar reason shall be
filled by the Committee as per the provisions of the Act, from amongst the eligible staff of the
company.

Fees or allowance for Members of Internal complaints Committee:

The member appointed from Non-Governmental Organization/associations shall be entitled to a
fee or allowance may be fixed by the company from time to time, for holding the proceedings of
internal complaints Committee.

Removal from Office:

The Presiding officer or any member can be removed from the Committee if such Presiding Officer
or the Member (a) contravenes the provisions relating to secrecy (section 16 of the Act) or (b)
has been convicted for an offence or an inquiry into an offence under any law for the time being
in force is pending against him/her or (c) he/she has been found guilty in any disciplinary
proceedings or a disciplinary proceeding is pending against him or (d) has so abused his/her
position as to render his continuance in office prejudicial to the public interest.

Duties & Responsibilities:

Presiding Officer or members (i) should render all assistance to the aggrieved woman to make
the complaint in writing where she is unable to do so on her own (ii) take steps to settle the matter
through conciliation before initiating inquiry if the aggrieved woman so requests (iii) adhere to
the inquiry process faithfully (iv) ensure that the rights granted to the aggrieved woman are made
available to her (iv) the privacy of the aggrieved woman is respected and secrecy maintained over
the proceedings at all stages (v) cause criminal complaint to be filed if so warranted (vi) preserve
all records for inspection by authorized official and (vii) make available statistical details of
number of cases filed and disposed of.

Safety Guidelines for Women Employees at Workplace

• At Ambition, we believe that safety of our women employees is very important, and we ensure
that all arrangements are made to create a safe, un-biased and women- friendly environment.
Some of the rules that are followed in our offices currently, with respect to the safely of all our
employees and women
• No women employee is allowed to work beyond 7.30 pm in the Company exceptions would be
an extension by 1 hour
• If there is any extension to working hours, the employee needs to get an approval from the
HOD stating the time she would like to extend and reason with an intimation to the Admin
• Admin- in-charge to be informed about it 1 day in advance in normal cases and 2 hours in
advance to office hours in case of emergency
• Admin-in-charge to intimate the Security in the office about the stay of employee in the office
• Admin-in-charge to book a cab for the drop of women employees from an official travel agent
• Details of cab, driver to be registered in the register along with a photocopy of driver’s ID and
a signature need to be obtained from driver in the register
 • In case of women and men employees are getting dropped in same cab, women employee to
be dropped first and men employees last, to see women employees reach home safe
• Women employees shall inform administration in-charge of the Corporate Office / Divisional
Office Branch Office / post reaching home
• Women employees are advised to save the mobile numbers of admin in-charges, local police
station, women protection cell of police in fast dial mode in mobile phones so that they can
quickly access them in case of emergency
• In case of women employees travelling out of station early in the morning/ late evenings,
women employees to be provided drop to airport and pick up from destination airport by
office cab or official cab agency, cab driver’s name and number to be given to them in advance
• Training on self-defence and to face emergencies will be given to women employees once in 6
months and awareness camps on emergencies are given once in 6 months
• Employees can submit their complaints and grievance to <email>

Annexures
I. Annexure A: Code of Conduct
Purpose
The annexure to Ambition’s Code of Conduct is meant to define its commitment to the regulatory
and network bodies which govern the organisation’s overall operations.
Fair practices code
To conduct business operations and establish procedures in accordance with the RBI Guidelines,
Ambition has adopted the Fair Practices Code as detailed below: -

RBI’s Fair Practices Code Ambition practices

Applications for loans and their processing 1) Ambition ensures that all communication with
a) All communications to the borrower shall the borrower happens in the vernacular
be in the vernacular language or a language, or a language as understood by the
language as understood by the borrower. borrower
b) Loan application forms should include 2) JLG members must attend a continuous group
necessary information which affects the training (CGT) for 2-3 days and then pass the
interest of the borrower, so that a Group Recognition Test (GRT) conducted by the
meaningful comparison with the terms Branch Manager for the group/centre
and conditions offered by other NBFCs can 3) For clients, Ambition’s loan application form
be made and informed decisions can be includes the systematic collection of primary
taken by the borrower. The loan details from the borrower along with Know Your
application form may indicate the Customer (KYC) norms as per the Company
documents required to be submitted with guidelines in the prescribed format. The same is
the application form. checked with the Credit Bureau before further
c) The NBFCs should devise a system of processing.
giving acknowledgement for receipt of all 4) The authorized staff verifies the loan application
loan applications. Preferably, the time along with all the sureties and approvals,
frame within which loan applications will applicable as per the policies of the Company.
be disposed of should also be indicated in The staff also ensures that the following
the acknowledgement. information is filled completely:
• Date of application
• Borrower identification particulars
• Loan amount and product details
• Applicable interest rate
• Term of the loan
• Repayment particulars
RBI’s Fair Practices Code Ambition practices

• Details of indebtedness
• Income details
• Purpose of the Loan
5) Loan application forms provided by the
Ambition includes necessary information
required to draw a meaningful comparison with
the terms and conditions offered by other NBFCs
which helps the borrower in making an informed
decision.
6) The client who intends to access credit from
Ambition must submit the following documents
along with the application to obtain the loan
from the Company-
• KYC document as prescribed by the
RBI (for both ID Proof & Address Proof)
• Income Proof (basic income-expense
details are captured based on discussion
with the loan applicant and her/his family
members)
• Joint Passport size photograph of the
client & the spouse / Guardian.
7) SMS is sent to clients in digital login forms

Loan appraisal and terms/conditions

a) The NBFCs should convey in writing to the 1) Ambition ensures that all clients are sufficiently
borrower in the vernacular language as educated regarding the product terms and
understood by the borrower by means of conditions, both verbally and in writing.
sanction letter or otherwise, the amount of 2) At the start of disbursement, borrower signs the
loan sanctioned along with the terms and JLG form and loan sanction letter. The designated
conditions including annualised rate of staff of the Ambition conveys in writing to the
interest and method of application thereof borrower in the vernacular language as
and keep the acceptance of these terms understood by the borrower by means of
and conditions by the borrower on its sanction letter or otherwise the following:
record. • The amount of loan sanctioned
• The terms and conditions of the loan
• Annualized rate of interest
• Method of application of the annualized rate
of interest
• Processing Fees
• Insurance Fees

Disbursement of loans including changes

in terms and conditions 1) Ambition furnishes a copy of the loan agreement
a) The NBFCs should give notice to the containing all the terms and conditions attached
borrower in the vernacular language or a to the loan in the vernacular language as
language as understood by the borrower understood by the borrower along with the
of any change in the terms and conditions copies of all enclosures quoted in the loan
including disbursement schedule, interest agreement to all the borrowers at the time of
rates, service charges, prepayment sanction / disbursement of loans.
charges etc. NBFCs should also ensure that
RBI’s Fair Practices Code Ambition practices

changes in interest rates and charges are 2) All disbursement of loans is done only at the
effected only prospectively. A suitable branch office and more than one Employee is
condition in this regard should be present at the time of loan disbursement.
incorporated in the loan agreement. 3) The following documentation is completed at the
b) Decision to recall / accelerate payment or time of disbursement of the loan wherever
performance under the agreement should applicable:
be in consonance with the loan agreement. • Demand promissory note
c) NBFCs should release all securities on • Joint Liability Acceptance and loan
repayment of all dues or on realisation of Agreement
the outstanding amount of loan subject to • The acceptance of the terms and conditions
any legitimate right or lien for any other by the borrower, rate of interest, processing
claim NBFCs may have against the charges, repayment terms and all other
borrower. If such right of set off is to be terms and conditions if any.
exercised, the borrower shall be given 4) Authorized person keeps the acceptance of these
notice about the same with full particulars terms and conditions by the borrower and all the
about the remaining claims and the other concerned documents on its record/safe
conditions under which NBFCs are custody
entitled to retain the securities till the 5) Loan passbooks are given to every borrower for
relevant claim is settled/ paid. each loan. The loan passbook contains the
repayment schedule, effective interest rate and
processing charges and Insurance premium and
claim procedure details etc.
6) Ambitions takes a decision to recall/ accelerate
payment or performance under the loan
agreement as agreed with the borrower under
intimation.
7) Ambition does not charge any penalty on delayed
payments. The same has been mentioned in the
Loan agreement in vernacular language as
understood by the borrower.
8) Ambition issues a notice to the borrower in the
vernacular language as understood by the
borrower of any change in the terms and
conditions including disbursement schedule,
interest rates etc.
9) Ambition also ensures that changes in interest
rates and charges are affected only
prospectively.

General
a) NBFCs should refrain from interference in 1) Ambition’s staff have strict instructions to
the affairs of the borrower except for the restrict their dealings with clients only on
purposes provided in the terms and matters related to the services provided. While
conditions of the loan agreement (unless basic social graces are expected to be adhered to,
information, not earlier disclosed by the staff members are barred from getting into any
borrower, has been noticed). personal relationship with clients or their family
b) In case of receipt of request from the members.
borrower for transfer of borrowal 2) Ambition ensures that its staff is adequately
account, the consent or otherwise i.e. trained to deal with the customers in an
objection of the NBFC, if any, should be appropriate manner without resorting to rude
conveyed within 21 days from the date of behaviour.
 RBI’s Fair Practices Code Ambition practices

receipt of request. Such transfer shall be as 3) Ambition instructs the Staff to not undertake any
per transparent contractual terms in activity which can be construed as harassment of
consonance with law. the clients. Further, in case of serious mishap with
c) In the matter of recovery of loans, the the client, staff allows the borrower to re-schedule
NBFCs should not resort to undue their loan repayment.
harassment viz; persistently bothering the 4) Ambition encourages its staff, customers, and
borrowers at odd hours, use muscle power other key stakeholders to mail their queries,
for recovery of loans etc. As complaints concerns and other process or policy feedback
from customers also include rude and suggestions to [email protected] or
behavior from the staff of the companies, [email protected] and the same can be submitted
NBFCs shall ensure that the staff are in person at any of the branches or at the
adequately trained to deal with the Ambition’s head office.
customers in an appropriate manner. 5) Ambition has a Customer Grievance Redressal
d) As a measure of customer protection and Management policy which ensures that not only
also in order to bring in uniformity with are clients concerns being captured, but also
regard to prepayment of various loans by sufficiently incorporated into the organization’s
borrowers of banks and NBFCs, it is processes going forward.
advised that NBFCs shall not charge
foreclosure charges/ pre-payment
penalties on all floating rate term loans
sanctioned to individual borrowers, with
immediate effect.

Network Codes of Conduct

Ambition understands the importance of industry code of conduct in guiding the scope of overall
operations of the organisation. The Code for Responsible Lending (CRL), a self-regulatory
mechanism has been put in place by Microfinance Institutions Network (MFIN) and Sa-Dhan
along with FIDC (Finance Industry Development Council). The CRL is sector specific and entity
agnostic.

The five elements of CRL are fair interaction, suitability (avoiding multiple/over lending),
education and transparency, information and privacy, grievance redressal. The CRL is designed
to ensure that the regulatory guidelines on microfinance are adhered to (RBI Master Directions
for NBFC-MFIs, RBI Fair Practice Code for Banks and NBFCs, Industry Code of Conduct and RBI
Charter of Customer’s Rights in the context of micro-credit sector).

The Code of Conduct2 guideline prepared jointly by MFIN and Sa-Dhan capture all five elements
of CRL along with other critical components. Ambition is fully committed to adhere to CRL and
industry COC in letter and spirit.

2
https://mfinindia.org/assets/upload_image/publications/IndustryStandards/Industry%20Code%20of%20Conduct_Aug%2020.pdf
Employee Engagement
Recruitment
1. Ambition will not unfairly discriminate against a candidate for recruitment based on
gender, religion, caste, marital status or sexual orientation etc.
2. Ambition will select candidates based on merit, ethics and integrity.
3. Ambition will recruit a candidate from other Provider based on satisfactory relieving
letter or reference check only. Ambition will seek reference check from candidate's
current employer onlyafter an offer letter is issued to the candidate. However, if request
for reference check is notresponded to within 15 calendar days (from date of sending the
request), Ambition will go ahead with the recruitment.
4. Ambition will respond to request from other Provider for reference check within 15
calendar days from receipt of such communication.
5. While recruiting from other Provider, Ambition will honour the notice period as mutually
agreed between prospective employee and her/his current employer.

Orientation (training and appraisal)

1. Ambition will give comprehensive induction training to the employees on policies,
processes, regulations, as well as Code of Conduct. Emphasis to be given on customer-
interface aspect such as fair treatment, credit assessment, privacy of data, service quality,
CGRM, relationship management and dealing with customer facing difficulty in
repayment etc.
2. Ambition will regularly assess employees' understanding of the above elements and
conduct refresher training to address the gaps in understanding.
3. Ambition will train their employees on understanding and dealing with gender issues
including appropriate interaction with women colleagues and customers.
4. Ambition will necessarily orient their employees on professional conduct and integrity
issues including expected behaviour and not indulging in any unlawful and anti-social
activities.
5. Ambition will engage new employees in the branch-level business operations only after
completion of the induction training.
6. Ambition will ensure that employees directly responsible for CGRM receive detailed
training about the system, processes and soft skills for resolving the complaints.
7. Ambition will institute a transparent incentive and appraisal structure in such a way that
 it does not lead to perverse sales behaviour, factors for the service quality, incentivizes
responsible lending, rewards compliance with the CoC and penalizes breach of the same.
8. Ambition will set targets for the branch-level employees based on a reasonable-objective
criterion including understanding of micro-credit requirement and repayment capacity
in that area.

Well-being
1. Ambition will ensure the well-being (for example, adequate remuneration, working
hours, working conditions, leaves for personal reasons such as family commitments and
emergencies) and security of employee is given due importance.
2. Ambition will have well-defined protocol to be followed by employee to handle risks
arising from going to difficult area and cash-handling. Ambition will indemnify the
employees for cases whereprotocol has been followed but mishap still occurred.
3. Ambition will not collect shortfalls in collections from employees unless in proven cases
of frauds by employees.
4. Ambition will create conducive professional environment for both genders to work and grow.
5. Ambition will have an appropriate mechanism to hear and redress the grievances of the
employees and provide counselling.
6. For routine cases3, Ambition will complete the relieving formalities (including final
settlement of pending dues, issuing no-objection certificate and relieving letter) of the
employees within 45-60 calendar days from the last working day of the employee.
7. Ambition will respond to request from prospective employer for reference check within
15 calendar days from receipt of such communication.
8. Ambition will ensure that notice period is not more than 2 months for employees.

Customer Engagement
Fair Interaction
1. Ambition will ensure that customer is not unfairly discriminated against on grounds such as
religion,caste, marital status, or sexual orientation etc.
2. Ambition will ensure that all employees and persons acting on its behalf:
a. Use respectful language, maintain decorum and are respectful of social and cultural
sensitives
b. Do not use coercion of any sort to make recovery of loans and take recovery only at a
central designated place. An employee can take recovery at the place of residence or
work of the customer only if customer fails to appear at the central designated place
ontwo or more successive occasions.
c. Do not intimidate or humiliate verbally or physically.
d. Do not contact customers at odd hours or at inappropriate times such as
bereavements,illness, social occasions such as marriages and births.
Suitability (avoiding multiple/over-lending)
1. Ambition will assess customer's financial situation (income and expenses), credit
requirement,repayment capacity and indebtedness based on information from the customer,
Credit Information Report (CIR) and field level intelligence before disbursing a loan.
2. Ambition will use a valid4 CIR before sanctioning all loans including top-up loans, second and
subsequent cycle loans.
3. Ambition will disburse the loan commensurate with the customer's ability to repay. Prior to
sanctioning of loans, based on micro-credit loans captured in the microfinance section of the
valid CIR, Ambition will ensure that:

3
Routine case is where employee has orderly served the notice period, finished the tasks, completed handover, has no pending financials and
disciplinary clearances required.
4
CIR is considered as 'valid' for 15 calendar days from the date of extraction of the CIR. This implies that AMBITION needs to disburse a loan to the
customer within 15 calendar days from date of extracting her CIR.
 a. It does not become the fourth lender to a customer if a customer has active loans from
three(3) different Providers. In addition, it will also ensure that AMBITION does not
become third NBFC-MFls to lend to a customer5.
b. It does not breach the total indebtedness of Rs 1,25,000 per customer. AMBITION
should verify the total indebtedness of customer factoring all unsecured micro- credit
loans (individual as well as group) captured in the microfinance section of the CIR
prior to sanctioning of the loan.
c. It does not sanction/disburse a loan to customer who has non-performing
(delinquency> dpd 90 days) accounts with loan amount outstanding> Rs 1,000 with
AMBITION or another Provider.
Education & Transparency
1. Ambition will provide following key information to the customer and include them in the loan
documents such as loan application, loan sanction letter/loan agreement and loan card:
a) Identity and address of Ambition
b) Identity and address of the customer
c) Product details (loan amount, tenure, repayment frequency, annualised interest rate
on reducing balance method, processing fee, any other charges or fees howsoever
described, total amount payable, total charges recovered towards premium of credit-
linked life insurance cover, coverage amount and risks covered, if applicable and
other key terms and conditions)
d) Details of customer grievance redressal system (CGRM)
2. Ambition will communicate all the terms and conditions to customers in the official regional
language or language understood by them. AMBITION will promptly communicate to the
customers, any changes in terms and conditions.
3. Ambition will provide a receipt/written acknowledgement for every payment received from
the customer.
4. Ambition will take measures (such as training, assessment, and periodic interactions with
customers) to ensure that the customer fully understands the products, process and terms of
the contract.
5. Ambition will give emphasis in educating customers on the importance of timely repayment
for good credit history with the CICs, benefit, risks and necessary safeguards of digital
financial transactions and grievance redressal mechanism including internal and external
escalation mechanism6.
6. Ambition will educate customers against blind trust on group and centre leader and how any
default in the fictitious loan (also referred to as ghost lending / pipelining taken by
group/centre leader in customer's name) can ruin her credit records and access to credit in
future. This to be part of the Compulsory Group Training (CGT)/Group Recognition Test (GRT)
process.
7. Ambition will ensure customer attendance in the group meetings.
8. Ambition will disclose the reason to the customer if her loan is rejected. For this purpose,
acknowledgment of loan application given to the customer, will have Ambition's CGRM
number and Turn Around Time (TAT), so that the customer can reach out to it.
Information & Privacy
1. Ambition will obtain copies of Know Your Customer (KYC) documents from customers as per
RBI norms
2. Ambition will upload accurate and comprehensive customer data with all RBI approved
Credit Information Companies (ClCs) as per the Uniform Credit Data Format on a weekly
basis.

5
As per the RBI Directions for the NBFC-MFls.
6
External escalation mechanism includes regulatory channels available to customer to escalate includingOmbudsman where
applicable.
3. Ambition will promptly address any dispute raised by the customer about her data with ClCs.
This is to be done within 7 calendar days from receipt of such dispute.
4. Ambition will keep personal customer information strictly confidential. Customer information
maybe disclosed to a third-party subject to any of the following conditions:
5. Such information is required to be provided under the law or it is provided for a
mandated business purpose (for example, to ClCs)
6. Customer has been informed about such disclosure and prior permission has been
obtained in writing
7. The party in question has been authorized by the customer with intimation to Ambition,
to obtain customer information
8. Ambition will take customer's consent for loan application, checking her CIR and her
accepting terms and conditions of loan. For every product availed by the customer, credit as
well as insurance or any other product, separate and explicit customer consent should be
taken.
Grievance Redressal
1. Ambition will provide a robust customer grievance redressal system to address customer
complaints in an effective and timely manner. It will provide easy access to CGRM to all
customers through a dedicated phone-number or a staff assisted procedure at the branch to
register grievances.
2. Ambition will clearly communicate the details of customer grievance redressal in branches,
loan documents and other communication materials.
3. Ambition will have least one Grievance Redressal Officer (GRO) to over-see the CGRM and
make his/her contact details (e-mail, phone number) accessible to customers.
4. Ambition will assure the customer that she will be treated fairly despite the grievance being
lodged.
5. Monthly data consolidation at HO level and share the same with SRO.
Others
1. Ambition will charge the customers in line with relevant RBI Directions.
2. While offering any third-party sell (non-micro-credit product) to customer, Ambition will
clearly disclose all necessary details of such product (pricing, benefits, warranties, exclusions).
3. Ambition will ensure that the customer is not forced to buy any such product as a pre-
condition to access micro-credit or vice versa.
4. Ambition will make alternate arrangement to service the existing loans of the customers, in
case of withdrawal of operations from an area. As an example, arrangement with an existing
Provider can be worked out to receive loan repayments from customers.
5. Ambition will establish direct contact with the customers, avoiding influential unscrupulous
intermediaries amongst group or centre leaders.
6. Ambition will regularly rotate their group/centre leaders to restrain the disproportional
influence of leaders in the group.

Corporate Governance

Policies, Strategic Directions & Oversight

1. Ambition will align relevant polices such as Fair Practices Code (FPC), Product
Development, Operational, Human Resources, CGRM, Internal Audit, Information &
Technology etc to clauses stipulated in the CoC. Ambition will align processes with the
updated policies.
2. Ambition will have clearly defined guidelines for employee interaction with
customers, including policy to deal with aberrations from the guidelines.
3. Ambition will have a Board approved CGRM policy covering process to register, resolve
and escalate the complaints, internal and external escalation mechanism, complaints
categories and TAT, review/audit of CGRM and reporting to Board and top
management.
4. Ambition will have a section in credit policy to deal with delinquencies at the customer
 level including rescheduling of loans for the customer who is facing difficulty in
repayment of loans on account of loss of business assets, loss of earning members of the
family, naturaldisasters or other emergencies.
5. Ambition will have a Board approved framework to deal with crisis arising from natural
disasters, mass defaults, negative media, local-level hostility etc.
6. Ambition will have a policy to safeguard customer's data (capturing, transmitting,
storing) covering the universally accepted principles of data protection as under:
a) Collection limitation
b) Purpose specification
c) Use limitation
d) Data minimisation
e) Preservation of data quality
f) Breach-notification
g) Incorporation of access controls
h) Encryption of data wherever feasible.
i) Incorporation of Data protection impact assessments to actively identify
andmitigate threats to personal data and undertaken periodically.
7. Ambition will get all key policies and plans (encompassing aspects of customer
acquisition,expansion, targets, operations, HR, CGRM etc) reviewed and updated annually
by the Board.
8. Ambition will assess its product offering through multi-dimensional lens including its
impact on the well-being of customers (such as increasing income, access to assets,
reducing drudgery,improving skills etc).
9. Ambition will develop its business plans based on both supply and demand side factors
including current supply of micro-credit and need and repayment capacity of customers
in an area. Data available from CICs to be used to understand the supply and repayment
behaviour of a geographies (saturated, to be avoided or approached with utmost caution)
10. Ambition will conduct the annual assessment of its performance (adherence and well as
lapses) vis a vis CoC, through an external agency and discuss the report at Board and top
Management level. The reports must disclose the methodology used for evaluating the
performance.
11. Ambition will record and analyse individual and aggregate level data for CGRM capturing
nature of complaints, action taken and turn-around time. Report on grievances received,
resolved and pending along with nature of complaints should be shared with the Board
for review.

Risk Management & Internal Audit

1. Ambition will have a well-laid out risk management framework to identify key risks (such
as creditand operational risks due to concentration, excess supply, political, people, natural
disasters)and steps to mitigate them.
2. Ambition will audit the branches, customer, employees, process and system to check
adherence to the elements described in CoC.
3. Ambition will internally probe persistent abnormally high performance with respect to
assigned targets of branches and employees, as this may be an indicator of coercive sales
practices.
4. Ambition will undertake regular audits on a reasonable sample to capture instances of
lending breaching the norms on total indebtedness, lender count and lending to customer
having a delinquent account with another Provider.
5. Ambition will develop specific internal controls to identify and avoid informal
unscrupulous intermediaries in the lending process and system. For example, direct
connect with customers, pre-disbursement confirmation calls to customers, loan
utilization checks, regular rotation of group/centre leaders, and customer verification
during internal audit.
Industry Cooperation
 1. Ambition will share data and information required by the SROs to understand industry
level practices, research etc. For this purpose, Ambition will identify a focal person to
coordinate with the SROs.
2. Ambition will cooperate with other NBFC-MFIs to deal with industry-level issues.

II. Annexure B: Offer Letter

Dated:
OFFER LETTER

Dear Name,
Congratulations, we are delighted to offer you the position of _______ in Ambition Services Pvt.
Ltd.
As a member of our organization, we would ask for your commitment to deliver outstanding
quality and results that exceed client expectations. In addition, we expect your personal
accountability in all the products, actions, advice and results that you provide as a representative
of Ambition Services Pvt. Ltd. In return, we are committed to providing you with every
opportunity to learn grow and stretch to the highest level of your ability and potential.
We are confident you will find this new opportunity both challenging and rewarding. The
following points outline the terms and conditions we are proposing.
Title:
Job description:
Joining Date:
Salary: Your CTC will be INR per month.

Salary Structure Salary Component

Basic Salary
House Rent Allowance
Statuary Bonus
Gross Monthly Salary
Addition- Contribution by Company
Variable Incentive ( up to )
PF 12% of Basic Salary
ESIC 3.75% of Gross Monthly Salary
Gratuity
Total Cost To Company (Monthly Upto)
Annual CTC (Upto)
Deduction:- Employee Contribution
PF 12% of Basic Salary
ESIC 0.75% of Gross Monthly Salary
Total Deduction

Note: 1. Life Insurance & Health Insurance will be provided as per company policy.
2. PF and ESI will be applicable as per government guidelines.
Probation: You will be on probation for 3 month.
Location: Your initial posting will be at “”. However, you can be transferred to anywhere in India,
at the sole discretion of management.
Reporting relationship: Your reporting manager will be based at Location. He can be contacted
at Mobile number or email-id.
Submission of documents: You are required to submit the self-attested copies of following
documents at the time of joining the company:
• Copies of certificates for academic and professional qualifications
• Five coloured passport size photographs
• Experience certificate, relieving letter and recent salary slip from your previous employer
• Self-attested Resume
• Copy of ID and address proof(Original to be verified & Aadhaar card is mandator
• All documents related to bike-RC, Insurance and DL.
• Three blank cheques on the name of company for security purpose.

Following the initial probationary period, a progression and performance review will be
conducted on a quarterly basis to assess performance to-date, and to clarify or modify this
arrangement, as the need may arise.
HR Verification is pending if any negative feedback received then offer will be revoked and
working days would not compensate.
This arrangement may be terminated by either party upon advance notice of 45 days (One week
in probation period) or 45 days salary in lieu of.
We look forward to the opportunity to work with you in an atmosphere that is successful and
mutually challenging and rewarding.

Sincerely,

HR Manager
Ambition Services Private Limited

With the signature below, I accept this offer for employment.

___________________________ ______________________
Name Date

Please send a signed (accepted) copy of this letter back to Head Office.
III. Annexure C: Reference check- Previous employer feedback

Dear HR,

Greetings From Ambition Services Pvt. Ltd.

We are a Microfinance company working with Utkarsh Small Finance Bank, Fincare Small
Finance Bank & Belstar Microfinance in BC model. In this context, We would like to verify the
employment details of ________.

We learnt that you are his previous employer. In order to make an informed hiring decision, We
need to know the applicant's work history. Any information that you give will be held in the
strictest confidence.

We would be grateful if you could verify/correct/fill in the details in the table given below
–
Sr No Details Information provided Your Input
1 Candidate Name _____
2 Employee's ID Number ____
3 Period of Employment Please provide
4 Designation Please provide
5 Remuneration (CTC) Please provide
6 Reason for leaving Family Problem
7 Name and Designation Please provide
of Immediate
Supervisor
8 Eligibility for rehire Please provide
9 Any issue during the Please provide
candidate's tenure with
your organization
10 Any financial dues? Please provide
11 Additional Comments Please provide
12 Details of Verifier Please provide
IV. Annexure D- Increment letter

Date:
To,
Mr. XXX (ASPL-1057),
Senior Branch Manager (Business Operations),
Karnal.
Dear Mx. XXX,
Congratulations!
The management is pleased to inform you that in recognition for your commendable
performance during the appraisal period, you have been awarded an increment of % in your
CTC.
We would like you to know that Ambition greatly values your contributions towards the growth
of the company and we look forward to a long and fruitful association.
The revised salary structure applicable from 01.10.2021 is as follows:
Salary Structure Salary Component
Basic Salary
House Rent Allowance
Special Allowance
Gross Monthly Salary
Addition- Contribution by Company
PF 12% of Basic Salary
ESIC 3.25% of Gross Monthly Salary
Gratuity
Total Cost To Company (Monthly)
Annual Bonus
Annual CTC
Deduction:- Employee Contribution
PF 12% of Basic Salary
ESIC 0.75% of Gross Monthly Salary
Note: Company provides life insurance and health insurance to all its employees.
PF & ESI will be applicable as per government guidelines.
All the other terms and conditions remain unchanged as per your appointment letter.

With Best Wishes,

For Ambition Services Private Limited

HR Manager
V. Annexure E- Promotion letter

Promotion Letter
Date:
To,

Dear ___________,
Congratulations!
The management is pleased to inform you that in recognition for your commendable
performance during the tenure, you have been accorded promotion to ________________.
We would like you to know that Ambition greatly values your contributions towards the growth
of the company and we look forward to a long and fruitful association.
Company has awarded you an increment of ___ % in your CTC. The revised salary structure
applicable from ________ is as follows:

Salary Structure Salary Component

Basic Salary
House Rent Allowance
St. Bonus
Gross Monthly Salary
Addition- Contribution by Company
PF 12% of Basic Salary
ESIC 3.25% of Gross Monthly Salary
Gratuity
Total Cost To Company (Monthly)
Annual Bonus
Annual CTC
Deduction:- Employee Contribution
PF 12% of Basic Salary
ESIC 0.75% of Gross Monthly Salary

Note: Company provides life insurance and health insurance to all its employees.
PF & ESI will be applicable as per government guidelines.

All the other terms and conditions remain unchanged as per your appointment letter.

With Best Wishes,

For Ambition Services Private Limited

HR Manager
VI. Annexure F- Migration of savings account to salary account
To Date: - [Today]
The Branch Manager
[Bank Name]
[Branch Address]

Sub: Migration of Savings Account to Salary Account

Dear Sir / Madam,

This is to inform you that I, [Name]……………………………already have a Savings Account vide No. [Account
No.].…………………………………………. with [Branch Name] ………………………………………………….

Hence, I request you to migrate my existing account as a salary account with Ambition Services
Pvt. Limited.

Regards,

----------------------------
[Signature]

[Name]
VII. Annexure G- Transfer letter
TRANSFER LETTER FORMAT

Dated: ……… [Date, Month, Year]

To,
Mr. / Ms. / Mrs. (Name)
Employee Code
(Designation)
(Place/Branch)

Sub: Transfer from (current location) to (New Location)

Dear ……… [First name]

We are pleased to inform you that you have been transferred from ……………. to …………… with
effect from …………...
You are requested to report to ………………………..[Name of Person, Designation] on arrival.
We are sure you will make the best use of the opportunity offered to you and contribute
substantially to the success of our organization as you have always been doing and fully justify
the confidence and faith placed in you by the management.
All other terms and conditions governing your transfer will remain unchanged as per your
appointment order.
You will be eligible for benefits as per “Transfer Policy”.
Wish you all the best.

Thanking you,
For Ambition Services Pvt. Ltd.
<Name>
General Manager (HR)
Accepted: _________________________

Employee signature
 VIII. Annexure H: Categorization of Indiscipline

The following acts of employees (indicative, not exhaustive) can be considered as a violation of
the code of conduct and other set standards of Ambition. These acts are categorized in different
levels as per the severity of offense:

Severity – Level 1 to Level 4 in the Order of Less Severe to the Most Severe Act (or Behaviour
of Employee)
Details Level 1 Level 2 Level 3 Level 4
Discipline • Unauthorized, • Deliberate failure to • Act of refusal to follow • Repetition of Level 3
and excessive, collect repayment the company’s behaviour / activities
Performanc tardy, late amounts on time procedures, circulars and
e of Official arrivals for • Regularly late to rules and code of conduct
Duties work centre meetings • Willfully neglecting
assignments • Gross negligence or responsibilities in a
• Attending carelessness or manner detrimental to
personal work inefficiency in the company’s interest in
during official/ performing official any way or which may
field visit duties lead to regulatory,
hours without • Repetition of Level 1 franchise and monetary
prior approval behaviour / activities or other losses to the
from reporting company
supervisor • Insubordination, or the
• Sleeping refusal to comply with
during work the specific instructions
hours of a supervisor in the
• Irregular context of an assigned job
attendance at duty
office • Disclosing company
policy and procedure to
competitive institutions
• Repetition of Level 2
behaviour / activities
Customer • Visiting • Misguiding • Selection of customers • Sexually harass any
information customers for customers/ members due to personal interest customer
and unofficial regarding Ambitions’ • Providing incorrect and • Threatening clients
relations purposes objective Abusive or wrong information about with the removal of
• Expressing offensive behavior the customer any form of benefit
unnecessary with customers • Repetition of Level 2 such as, but not
personal • Repetition of Level 1 behaviour / activities limited to financial
interest on behaviour / activities services
customers • Repetition of Level 3
• Providing behaviour / activities
incorrect and
untrue
information
about the
customer
Behaviour • Misguiding • Abusive or offensive • Sexually harass any
with other employees behavior with employee
staff in the regarding colleagues • Comments of a
organization • Repetition of Level 1 sexual nature,
Ambition’s
 Severity – Level 1 to Level 4 in the Order of Less Severe to the Most Severe Act (or Behaviour
of Employee)
Details Level 1 Level 2 Level 3 Level 4
objective and behaviour / activities unwelcome physical
procedure contact, or offensive
sexual materials as a
regular part of the
work environment
• Demanding or
requesting sexual
favors
• Showing or engaging
in any form of lewd
videos or media of a
sexual nature
• Threatening staff
with the removal of
any form of benefit
such as, but not
limited to,
promotion,
compensation, etc.
• Routinely deploying
a subordinate to
complete work of a
personal nature (e.g.,
cleaning toilet,
fetching water for
bathroom, running
errands)
• Repetition of Level 3
behaviour / activities
Usage of • Willful Miscalculation • Use of collection amount • Misrepresenting
company of funds during for personal purpose repayments from
funds or collection and • Wrong disbursement of customers
fund related disbursement loan amounts conducted • Monetary
information willfully transactions with
• Repetition of Level 2 customers other
behaviour / activities than company
products
• Skimming any funds
from loan processing
fees, disbursements,
collections, or other
AMBITION’s
currency.
• Withholding
collections for any
period of time
• Repetition of Level 3
behaviour / activities
IX. Annexure I: Warning Letter

Date: DD/MM/YYYY Ref No. XX/WL/0006

To,
Mr. X
Employee ID
Field Officer
Branch Name

Reference: Disciplinary Action

Dear X,

With reference to the reports collected from internal audit department and your operations team,
it has been found that you have shown a minimum sense of responsibility in doing your job.

• You disbursed loan to a non-target customer who is well-off and

does not fall under the definition of our target customer
• You did not conduct group training as per the company policy
• You were found being late at the centre meeting for the loan
collection

In the light of the explanation, you offered in the meeting with us on DD/MM/YYYY, we have come
to the conclusion that you have shown unprofessional and irresponsible approach towards your
job and responsibilities.

In regard to the above findings, we are issuing you a warning letter which would not affect your
career growth in the organization. But if such lapses are repeated, the organization will take
severe action against that.

Yours truly,

Name of Concerned Authority

Signature of Concerned Authority
X. Annexure J: Suspension Letter

To, Dated: DD/MM/YYYY

Mr. X
Employee Code
Designation
Location

Subject: Letter of Suspension and Show Cause Notice

Dear Mr. X,

The company is well aware of the information regarding your arrest by the Police on
DD/MM/YYYY. As per the information received by the company, you are accused of misbehaviour
with one of our customers for which you were arrested at about 2 PM in the afternoon of
DD/MM/YYYY and were kept in the Police lock up.

Based on the above-mentioned facts, the company would like to inform you that these kinds of
activities are in contrary to the Code of Conduct of the Company, and therefore you are in violation
of the same. However, the company would also like to follow Audi AlteramPartem(the rule of “hear
the other side”)and give you a chance for presenting your side of the case.

Hence, through this notice, the company intends to inform that your service has been suspended
till further notice issued by the company.

Moreover, the company requests your explanation regarding why disciplinary action should not
be initiated against you, and thus seeks your presence in person in front of the senior officials of
the company, within one month of the delivery of this notice to you.

It may be noted that in case you fail to appear before the company as stated above, within the time
limit granted to you for doing so, the company would be left with no other options but to terminate
your service with immediate effect.

Yours truly,

Name of Concerned Authority

Signature of Concerned Authority

XI. Annexure K: Termination Letter

To Date: DD/MM/YY

Mr. X

Employee ID:

Field Officer,

Branch Name

Reference: Termination of your services from our organization

Dear X,

With reference to the discussion at HO on DD/MM/YYYY and in the light of the explanation you
offered in the meeting with us at HO, it has been established that you have violated organizational
norms of communication and ethics.

On DD/MM/YYYY, you were informed that disciplinary action is being considered against you for
misbehaviour with one of our customers. Following that meeting, you were allowed to present
your case on DD/MM/YYYY at Head Office. Because of indiscipline, you had been recently
transferred from X branch to Y branch and a chance was provided to correct your behaviour.

Based on the feedback from your colleagues and customers, it is being concluded that your
conduct has been continuously found unsatisfactory. Taking this into account, your services are
being terminated and your last day of service with the Company will be DD/MM/YYYY.

You will handover to your reporting officer any property of the Company (documents, assets, etc.)
in your possession. Your final settlement will be cleared by the company after submission of these
documents

Yours truly,

Name of Concerned Authority

Signature of Concerned Authority
XII. Annexure L: Employee Clearance Checklist
XIII. Annexure M: Exit Interview Form

EXIT INTERVIEW FORM

Name
Designation
Address
Mobile No & Email id

Reason for Separation: Voluntary / Involuntary

Better Job
Insufficient pay
Relocation
Illness
Family
Disciplinary
Other (State reason)

Please answer the following questions in YES/NO

Do you feel you were properly placed on your job considering your interest and
ability?
Did you like your job?
Do you feel you received adequate training on your job?
Do you feel the workload that you were asked to undertake was reasonable?
Do you believe you received fair pay for the work which you were doing?
Do you feel the working conditions were good?
Do you feel your colleagues were cooperative?
Do you feel you received effective and fair supervision while you were here?
Do you feel you were kept properly informed about company policies and
developments?
Do you feel the promotional prospects would have been good had you stayed?
Were you satisfied with employee benefits such as sick leave etc?
If a friend of yours were looking for a position would you recommend them to
work here?
Would you work for this company again?

• What were your most important reasons for leaving?

• What suggestions do you have which will make this company a better place to
work?

Date: Signature: