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    Rajasekar M 13228: Confidential

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    vijaykataria1989
    The document is a revision letter informing an employee, Rajasekhar M, of changes to their compensation package. It notes that compensation increases have exceeded inflation and productivity benchmarks in recent years, so future increases will likely be lower. Rajasekhar's total compensation change is Rs. 36,041. Their performance-related incentive or PRISE amount is Rs. 191,017 annually based on company and individual performance ratings. The letter provides Rajasekhar's revised gross annual cost and compensation breakdown by year from 2017-2020.

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    Rajasekar M 13228: Confidential

    Uploaded by

    vijaykataria1989
    78 views2 pages
    The document is a revision letter informing an employee, Rajasekhar M, of changes to their compensation package. It notes that compensation increases have exceeded inflation and productivity benchmarks in recent years, so future increases will likely be lower. Rajasekhar's total compensation change is Rs. 36,041. Their performance-related incentive or PRISE amount is Rs. 191,017 annually based on company and individual performance ratings. The letter provides Rajasekhar's revised gross annual cost and compensation breakdown by year from 2017-2020.

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    The document is a revision letter informing an employee, Rajasekhar M, of changes to their compensation package. It notes that compensation increases have exceeded inflation and productivity benchmarks in recent years, so future increases will likely be lower. Rajasekhar's total compensation change is Rs. 36,041. Their performance-related incentive or PRISE amount is Rs. 191,017 annually based on company and individual performance ratings. The letter provides Rajasekhar's revised gross annual cost and compensation breakdown by year from 2017-2020.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    78 views2 pages

    Rajasekar M 13228: Confidential

    Uploaded by

    vijaykataria1989
    The document is a revision letter informing an employee, Rajasekhar M, of changes to their compensation package. It notes that compensation increases have exceeded inflation and productivity benchmarks in recent years, so future increases will likely be lower. Rajasekhar's total compensation change is Rs. 36,041. Their performance-related incentive or PRISE amount is Rs. 191,017 annually based on company and individual performance ratings. The letter provides Rajasekhar's revised gross annual cost and compensation breakdown by year from 2017-2020.

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    © All Rights Reserved
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    of 2

    Revision Letter - Glass Page 1 of 2

    CONFIDENTIAL HR-PM-CM-FOR-01
    Mar 5, 2020
    RAJASEKAR M
    Emp. No : 13228
    TEAM MEMBER - PROJECTS

    Dear RAJASEKAR M,

    Performance based Compensation Change

    As a company that continually bench marks itself against Best in Class in the industry, with regard to
    Compensation and Welfare, in addition to Annual Performance based increment, we have made
    significant compensation adjustments. With low consumer price inflation, our real compensation change
    is at the highest in a decade.

    In the last few years, our compensation changes have exceeded Inflation, productivity and Employee
    Value Added and bench mark Market increase. Therefore, we expect the future overall change in
    compensation, will reflect a downward trend compared to the past increases.

    The total change in your compensation is Rs. 36,041.

    PRISE (Performance Related Incentive Scheme for Employees)

    Based on the company performance index of 2.65 and your individual performance rating, your PRISE
    amount on an annualized basis is Rs. 191,017.

    https://sggiapps.saint-gobain-glass.com/myinfo/RVL_GH20.asp 13-Mar-20
    Revision Letter - Glass Page 2 of 2

    Revised Gross Annual Cost (GAC)

    The increase in your Gross Annual Cost has been incorporated in your revised salary and allowances /
    reimbursements that are payable to you with effect from January 01, 2020.

    Your revised compensation is as below:

    Revised w.e.f
    01-Jan-2017 01-Jan-2018 01-Jan-2019 01-Jan-2020

    Basic: 233,544 259,656 314,988 336,624


    House Rent Allowance: 140,136 155,796 189,000 201,984
    Other Allowance: 258,360 277,236 283,560 281,148
    Education Allowance: 2,400 2,400 2,400 2,400
    Conveyance: 19,200 19,200 19,200 19,200
    Medical Reimbursement: 15,000 15,000 15,000 15,000
    Leave Travel Assistance: 15,000 15,000 21,000 21,000
    Gratuity: 13,405 14,904 18,080 19,322
    Provident Fund: 28,025 31,159 37,799 40,395

    Total : 725,071 790,351 901,027 937,073

    PRISE : 216,838 234,923 177,829 191,017

    Please Note:

    [a] PRISE indicated is the Annualized amount for all the years.

    [b] Based on the Company and Individual Rating which will vary from Year to Year and is in lieu of any Bonus due to you under the
    payment of Bonus Act 1965.

    Any income tax liability on account of this compensation revision will continue to be deducted at source
    according to the prevailing income tax laws. All other terms and conditions of your service remain
    unaltered.

    https://sggiapps.saint-gobain-glass.com/myinfo/RVL_GH20.asp 13-Mar-20

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