ANNEXURE :- COMPENSATION STRUCTURE YEAR-2022-2023 FEV India Pvt. Ltd.

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Level:- 10
Age Family Members: 1
Effective From: Date of Joining Salary Amount
Particulars Monthly Per Annum
Gross Salary
Basic Salary 33,000 3,96,000
House Rent Allowance Ref Note-1 16,500 1,98,000
Children’s Education Allowance 200 2,400
Professional Development Allowance Ref Note-1 3,300 39,600
Fuel & Maintenance Reimbursement Ref Note-3 2,500 30,000
Leave Travel Assistance (LTA) Ref Note-2 2,750 33,000
Personal Payment Ref Note-4 17,348 2,08,180
(A) Total Gross Salary 75,598 9,07,180
Diwali Bonus
Diwali Bonus Ref Note-5 2,750 33,000
(B) Total Diwali Bonus 2,750 33,000
Variable Pay
Company Result Based Pay Ref Note-6 3,024 36,287
Performance Pay Ref Note-7 4,365 52,381
(C)Total Variable Pay 7,389 88,668
(D) Cost to Company (CTC) with Variable Pay [A+B+C] 85,737 10,28,848
Direct Benefits
Provident Fund (PF)[Company Share] 3,960 47,520
Gratuity 1,587 19,048
Mediclaim coverage towards employee, spouse & two children Ref Note-8 300 3,600
Personal accident Insurance coverage Ref Note-8 82 984
(E)Total Direct Benefits 5,929 71,152
(F) Cost to Company (CTC) with Direct Benefits [D+E] 91,666 11,00,000
Indirect Benefits
Transporation [Company Share] Ref Note-9 - -
(G) Total Indirect Benefits - -
(H) Cost to Company (CTC) with Indirect Benefits [F+G] 91,666 11,00,000
Note:
1 House Rent Allowance, Professional Development Allowance, Provident Fund & Gratuity are linked to the basic salary.
Leave Travel Allowance is one month basic salary/ 12. Employee must take minimum 5 days PL leaves in a year and should submit the bills to avail
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the tax benefits.
Tax exemption subject to submission of original bills in January. Tax exemption of INR 1,800/- per month for car below 1600 CC and INR 2,400/-
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per month for car above 1600 CC
4 Personal pay is an adjusting factor in the remuneration package.
Diwali Bonus will be paid during Diwali festival every year, calculation period for Diwali Bonus is November to October. Employee can avail this
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bonus monthly or yearly. Employee have to declare the option at the time of joining.
Company result based payment will be made on monthly basis. It will be based on the overall profit of FEV India. If FEV India achieves its profit
6 target the result based payment will be 4% of the gross salary. Deviations of the profit from it´s target will effect this component accordingly with
caps of 0% and 8%.
Performance pay is based on individual contribution & company performance. It will be paid yearly for the last financial year. At the time of payment
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the employee must have valid contract.
Medical / Personal Accident Insurance Benefits will be applicable. Medical Insurance premium mentioned in the structure is basis the number of
8 family members declared by the employee to be covered under the policy. Family means employee, spouse and 2 children. Any addition or deletion
in the later stage will have subsequent impact on the CTC components however the CTC with Indirect Benefits shall remain unchanged.
In case an employee does not use the company transport facility in that case employee is eligible for the disbursement of the company share of the
transport cost which is mentioned in the CTC under In-Direct benefits. The disbursement will be paid monthly together with the salary. It becomes
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due only if the employee does not use the transport facility in long term. Daily/weekly changes are not possible. This is only applicable for employee
working at FEV India Technical Center.
Tax liability, if any on all the above payments will be to the employee's account. FEV India can ask to show the obligation of income tax return proof
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during their stay in India or Abroad.
For above mentioned tax exempting components employee has to produce original bills at the time of submission of documents for income tax
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purpose.
In cases of training or project assignments at International locations, employee will have to sign service agreement before leaving to abroad and will
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work for a period of two years at FEV India Technical Centre.
13 Mobile, Internet data card, Canteen & Transportation deduction shall done as per company policy
Company Confidential: This communication is confidential between the Employee and FEV India Pvt. Ltd.
Completeness: The above is the complete understanding, any verbal commitment and discussion apart from the above will not be valid.

Anu Sethi Vijay Sharma