Offer Letter

Feb 14, 2024
Prateek Vashist
Gurgaon
Dear Prateek,
Congratulations!
We are delighted to have you join Cars24 Financial Services Pvt Ltd as Tech Lead 1 at our Gurgaon Location. We have
really aggressive plans and are completely revolutionizing the pre-owned cars Financing in our country. We are
excited to welcome you to the family and are confident that you will be able to make a significant contribution to the
success of the organization.
Please find below the terms of your offer:
1. Your effective date of employment will be Apr 15, 2024.
2. Your Annual Compensation shall have the following components. Details are mentioned in Appendix A
I. Fixed Component – INR 42,00,000/-

II. Performance Linked Variable Component – INR 3,00,000/- per annum (The performance linked variable
component of your CTC will be paid out annually during our appraisal cycle. This amount is pro-rated and will
be dependent on your performance rating)
3. Your employment is subject to a probation period of 90 days effective your date of joining. Your employment will be
confirmed upon your satisfactory performance and successful professional reference checks along with verification of
your education and employment history. In case the employee and/or the Company prefers to terminate the
employment contract during probation, then the employee shall be subject to a prior notice period of 7 days and/or
requisite salary in lieu thereof.
4. If at all circumstances arise wherein employee prefer to leave the employment with the Company, then employee
shall be under a strict obligation to submit a resignation providing a notice period of 60 days with the reporting
manager and/or requisite salary in lieu thereof and follow the exit formalities as would be applicable as per the
policies of the Company at that particular point of time. The Company may terminate the employment contract with a
prior notice of 60 days to you and/or in lieu of salary thereof.
5. Our annual appraisal cycle is effective April 1 and covers all employees who have spent 6 months or more in the
organization
6. The employee will be liable to pay back any notice period buyout amount paid during the duration of the employment
should either party (the employee or the company) terminate this employment contract before completion of 2 years
from the date of joining.
Prateek, we look forward to working with you!
Please sign below and return this employment offer latest by Feb 15, 2024 to indicate your acceptance. The formal
appointment letter will be made available on your date of joining.
Cars24 Financial Services Private Limited | Registered Office Address: 10th Floor, Tower B, Unitech Cyber Park, Sector- 39, Gurgaon –122001,
Haryana | Corporate Office Address: 6th Floor, SAS Tower, Ch Bktawar Singh Road, Medicity Sector 38, Shivaji Nagar, Gurgaon - 122001, Haryana
| WWW.CARS24.COM | CIN: U65990HR2018PTC075713 |
HELPLINE: +91 124 4009383 | EMAIL: nbfc.regulatory@cars24.com
APPENDIX A: CTC Break up: Prateek Vashist
Name: Prateek Vashist Business Unit: Digital Lending

Department: Technology Sub Department: Development
Band: B2 Grade: G4
Internal Designation: Team Lead I External Designation: Tech Lead 1
Fixed 42,00,000
Performance Linked Variable Component 3,00,000
Annual Cost To Company (CTC) 45,00,000
Components Annual(In Rs.) Monthly(In Rs.)
FIXED
Basic Salary 18,90,000 1,57,500
House Rent Allowance 9,45,000 78,750
Special Allowance 12,42,891 1,03,574
Total A* 40,77,891 3,39,824
EMPLOYEE BENEFITS
Medical Insurance 9,600 800
Gratuity 90,909 7,576
Total B 1,00,509 8,376
RETIRAL BENEFITS
Employer's Contribution to PF** 21,600 1,800
Total C 21,600 1,800
PERFORMANCE & OTHER BONUS
Performance Linked Variable 3,00,000 25,000
TOTAL D 3,00,000 25,000
TOTAL CTC (A + B + C+D ) 45,00,000 3,75,000
Total Annual CTC Forty Five Lakhs Only
Net Take Home (Monthly)****

3,38,024
*Total A – Represents Annual Gross Salary only. The Monthly Net Take-Home will subject to Statutory Deductions (as
applicable), professional tax (if applicable) and income tax (if applicable) as per provisions of Statutory Acts i.e. PF, State
Professional Tax Guidelines & Income Tax Act.
** (if applicable) Provident fund contribution is calculated as per the provisions of prevailing Provident Fund Act guidelines i.e.
@ 12% on minimum basic salary level of INR 15,000 and this amount is also deducted from basic salary as Employee’s
Share/Contribution to Provident Fund.
*** Medical Insurance amount under employee benefits is part of your CTC & is reflective of the policy premium paid at an
organization level. During the annual renewal of our GMC, medical insurance amount may change though there will be no
change in your total CTC for the year.
**** Net Take Home monthly may vary from the actual amount you will receive as this amount is over and above the Tax and
other deduction that will be done as per company norms
__________________________________________________ ______________________
For Cars24 Financial Services Private Limited Agreed and Executed
Authorized Signatory Prateek Vashist
Sanjog Katyal Date:
HR Team

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Feb 14, 2024

Please find below the terms of your offer:

1. Your effective date of employment will be Apr 15, 2024.

I. Fixed Component – INR 42,00,000/-

Prateek, we look forward to working with you!

Name: Prateek Vashist Business Unit: Digital Lending

Net Take Home (Monthly)****

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