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    Offer Letter II Senior Manager

    Uploaded by

    Srinath Rao
    The document is a letter of intent offering Srinath Rao a position as Senior Manager-Benefits Consultant at Aayuv Technologies Private Limited. The letter details an annual cost to company compensation of INR 16.5 lakhs including salary, allowances and statutory payments. Srinath Rao will report to the Vice President of Business Development and is required to join by September 19th, submitting documents including educational qualifications, ID proofs and photographs. The letter also includes annexures outlining the compensation breakdown and details of performance-linked incentive payouts.

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    © All Rights Reserved
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    Offer Letter II Senior Manager

    Uploaded by

    Srinath Rao
    193 views3 pages
    The document is a letter of intent offering Srinath Rao a position as Senior Manager-Benefits Consultant at Aayuv Technologies Private Limited. The letter details an annual cost to company compensation of INR 16.5 lakhs including salary, allowances and statutory payments. Srinath Rao will report to the Vice President of Business Development and is required to join by September 19th, submitting documents including educational qualifications, ID proofs and photographs. The letter also includes annexures outlining the compensation breakdown and details of performance-linked incentive payouts.

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    The document is a letter of intent offering Srinath Rao a position as Senior Manager-Benefits Consultant at Aayuv Technologies Private Limited. The letter details an annual cost to company compensation of INR 16.5 lakhs including salary, allowances and statutory payments. Srinath Rao will report to the Vice President of Business Development and is required to join by September 19th, submitting documents including educational qualifications, ID proofs and photographs. The letter also includes annexures outlining the compensation breakdown and details of performance-linked incentive payouts.

    Copyright:

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

    Offer Letter II Senior Manager

    Uploaded by

    Srinath Rao
    The document is a letter of intent offering Srinath Rao a position as Senior Manager-Benefits Consultant at Aayuv Technologies Private Limited. The letter details an annual cost to company compensation of INR 16.5 lakhs including salary, allowances and statutory payments. Srinath Rao will report to the Vice President of Business Development and is required to join by September 19th, submitting documents including educational qualifications, ID proofs and photographs. The letter also includes annexures outlining the compensation breakdown and details of performance-linked incentive payouts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    At a glance
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    The key takeaways are that Srinath Rao has been offered a job as Senior Manager- Benefits Consultant at Aayuv Technologies Private Limited with a total CTC of INR 16,50,000. He is required to join by 19th September 2022.

    The designation offered is Senior Manager-Benefits Consultant and the department is Business Development.

    The fixed compensation package includes basic salary, HRA, other allowances and deductions like PF and professional tax. The gross earnings are INR 16,50,000 annually.

    LETTER OF INTENT

    Date: 16th September 2022


    To,
    Mr. Srinath Rao
    +91-9731829988

    Dear Srinath Rao,

    Congratulations!!

    At the outset, it gives us immense pleasure to invite you to join Aayuv Technologies Private Limited. With
    reference to your application and subsequent meeting with us, we are pleased to offer you as Senior Manager-
    Benefits Consultant based at Bangalore on the following terms and conditions:

    1. Your Annual Earnings shall include salary, allowances, annual benefits and statutory payments as
    applicable which shall be a total CTC (Cost to the Company) of INR 16,50,000 (Rupees Sixteen Lakhs Fifty
    Thousand Only) Breakup of the fixed income is provided below as Annexure – I. A detailed letter of
    employment will be issued to you upon your joining.

    2. In the above capacity, you shall report to Vice President-Business Development who will give the
    necessary instructions related to work.

    You are required to join the company on or before 19-September-2022. Please return a signed copy of this
    letter as a token of acceptance of the offer, confirming your date of joining.

    On reporting, please ensure to submit the below listed documents:


     Education documents
     Aadhar card
     Pan Card
     2 passport size photographs
     Passport
     Bank Account Passbook or cancelled Cheque

    At any point, should you need any clarification, please reach out to Talent Acquisition Team.

    We welcome you to Aayuv Technologies Private Limited and look forward to a long and mutually
    beneficial association.

    Yours faithfully,
    For Aayuv Technologies Private Limited
    Accepted & Agreed

    Deepika Vijaykumar Name: Srinath Rao


    Associate Director – Human Resource
    Annexure – I

    Name Srinath Rao


    Designation Senior Manager-Benefits Consultant
    Department Business Development
    1.Fixed Compensation
    Salary Head Per.month Per.annum Remarks
    Basic ₹ 68,750 ₹ 8,25,000
    HRA ₹ 27,500 ₹ 3,30,000
    Other allowance ₹ 41,250 ₹ 4,95,000 TDS is subject to Investment
    Gross Earnings (p.m.) ₹ 1,37,500 ₹ 16,50,000 declarations and proofs submitted.

    Deductions
    Professional Tax ₹ 200
    PF Employer Contribution ₹ 1,800
    PF Employee Contribution ₹ 1,800 PLI amounting to
    Total Deductions (p.m) ₹ 3,800 3% of the
    Net Earnings (p.m) ₹ 1,33,700 achievement, as
    defined by and paid
    as per the PLI policy
    of the company
    Cost to Company (Annual) ₹ 16,50,000

    Yours faithfully,
    For Aayuv Technologies Private Limited Accepted & Agreed

    Name: Srinath Rao


    Deepika Vijaykumar
    Associate Director – Human Resource
    Annexure – II
    Performance Linked Incentive (PLI) Payout Plan

    Manager - Benefits Consultant will have an individual target.

    PLI will be calculated at 3% of individual target achievement, paid upon the achievement of this target. Following
    illustrates the calculation for the same (example):

    Manager - Benefits Consultant


    Individual Target (in INR) 5,00,00,000
    Incentive @ 3% for individual - target achievement 15,00,000

    The incentive amount will be paid on a quarterly basis, based on the individual target achievement for the said
    quarter (the targets for each quarter will be communicated by the reporting manager). The PLI amount will be paid
    post deduction of applicable Tax deducted at Source (TDS) and subject to employee being on the payroll of the
    company at the time of payout.

    Yours faithfully,
    For Aayuv Technologies Private Limited

    Accepted & Agreed

    Deepika Vijaykumar
    Head – Human Resource Name: Srinath Rao

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