Piramalfinance
Piramalfinance
Piramalfinance
Offer-Cum-Appointment Letter
Date: 01-03-2024
Mohd Aquib Siddiqui,
A1 steel shop front of canara bank basti
A1 steel shop front of canara bank basti
Lucknow, Uttar Pradesh , India - 272001
Dear Mohd
Congratulations! We are very excited to have you on board!
We are pleased to make an offer to you for the position of DST - - Sales at Piramal Finance Sales and
Service Private Limited. You shall join the company on or before 01-07-2024. If you fail to join on or
before the mentioned date, this Offer Cum Appointment Letter will stand withdrawn. Your initial posting
will be at Lucknow - Gomti Nagar, Lucknow Office No.211-212,2nd Floor,Titanium,Shalimar
Corporate Park,Plot No.TC/G-1/1,Vibhuti Khand,Gomti Nagar, . You shall be governed by the terms
and conditions applicable to all employees of the Company.
The details of the Salary and other terms and conditions of your employment are enclosed herewith as
following:
All the Annexure mentioned above shall form a part and parcel of this letter. If the terms and conditions
enumerated in this letter, including its annexure are acceptable to you, please confirm your acceptance
by accepting the offer on the system within 3 days the receipt of this letter. In case no confirmation is
received from you within the stipulated period mentioned herein above, this offer will stand withdrawn.
You are required to treat this Letter and its contents as strictly confidential.
For more details of the organization please visit our website: www.pfss.in
We look forward for a long, successful and pleasant association with the Company.
Yours Sincerely,
For Piramal Finance Sales and Service Private Limited
Parneet Soni
Authorized Signatory
Accepted and Agreed:
Name:
Piramal Finance Sales and Service Private Limited
CIN: U67200MH2020PTC345642
Registered office - Floor 4, 2 Peninsula Corporate Park Ganpatrao Kadam Marg, Lower Parel Mumbai
City MH 400013 IN T +91 22 62309400 and F +91 22 6151344
Signature:
Date:
ANNEXURE A
COMPENSATION DETAILS
Employee Name:Mohd Aquib Siddiqui
Band / Grade:Band G /G1
Business Unit: Piramal Finance Sales and Service Private Limited, Retail Finance, - Sales
Location:Lucknow - Gomti Nagar,Lucknow Office No.211-212,2nd Floor,Titanium,Shalimar
Corporate Park,Plot No.TC/G-1/1,Vibhuti Khand,Gomti Nagar,
SALARY COMPUTATION
Per Per
Components
Annum Month
Basic 90400 7533
HRA 12744 1062
Special Allowance 22600 1883
Bonus 28800 2400
Professional
22600 1883
Development
Medical 22600 1883
Gross 199744 16645
PF Co’s Contribution 18984 1582
ESI Co’s Contribution 7272 606
Fixed Pay 226000 18833
Basket of Benefits 24000 2000
Total CTC 250000 20833
Notes:
- Bonus: The amount against this component will include Statutory Bonus Payment that you are entitled
to under the Payment of Bonus Act, 1965 if it is applicable to you. This amount would be paid to you on a
monthly basis along with your salary. This amount does not include any variable pay like Incentive etc. if
you are eligible for the same.
-Basket of Benefits is inclusive of Travel and Communication Allowance of INR 2000 which will be paid in
monthly salary.
-Group Mediclaim Policy with coverage of family, as per Company policy in existence and as amended
from time to time.
-Group Term Life Insurance covering self, as per company policy in existence and as amended from time
to time.
-Group Personal Accident Insurance covering self, as per company policy in existence and as amended
from time to time.
-Gratuity will be applicable as per the Payment of Gratuity Act.
Piramal Finance Sales and Service Private Limited
CIN: U67200MH2020PTC345642
Registered office - Floor 4, 2 Peninsula Corporate Park Ganpatrao Kadam Marg, Lower Parel Mumbai
City MH 400013 IN T +91 22 62309400 and F +91 22 6151344
-Under the following circumstances your employment with the organisation will stand cancelled or
revoked automatically on immediate grounds:
If for any reason you do not clear any semester/ final year examination or fail to submit
relevant documents (marksheet/s) to that effect.
If you do not complete the functional orientation training (ACE Training).
Annexure “B”
GENERAL TERMS AND CONDITIONS OF SERVICE FOR MANAGERIAL PERSONNEL EMPLOYED BY COMPANY
The following are the broad terms and condition of your employment at the Company. Your employment
with the Company shall be subject to the policies of the Company as applicable from time to time read
together with the terms of this Letter.
Compensation
You shall be paid compensation as per the details mentioned in Annexure “A” of this Letter with effect
from the date of your joining.
Place of Work
Depending on the business needs of the Company, you may be required to undertake a periodic visit to
the Company’s other locations within or outside India. In view of the nature of our business, the
Company may transfer you to different divisions, associate companies, concerns, sections, subsidiaries,
entities, offices or location of Company on a temporary or permanent basis whether within or outside
India at its discretion as it may consider necessary from time to time. You may be sent on deputation to
any other organization anywhere in the Country or abroad which may be under the same management or
under different managements.
You are also bound by the Company Code of Conduct and the Fair Practice code. The Company may
implement the disciplinary procedure if you fail to comply with the code of conduct and in certain
circumstances, this could amount to gross misconduct leading to dismissal.
Compliance
You are aware that there are laws against trading securities using material non-public information and
you agree to comply with such laws.During the continuance of the employment you are expected to
comply with the Company's policies, practices and procedures and, if required, sign any necessary
documentation with respect to such policies, practices and procedures.
The exercise of discretion to pay a bonus/incentive in one financial year shall not bind the Company or
act as a precedent for the exercise of discretion in any other financial year. If, on or before the date when
a bonus/incentive might otherwise have been payable, your employment has terminated or either party
has given notice under these terms and conditions to terminate your employment, you will not be
entitled to receive any such bonus/incentive (whether in cash, shares or any other form).
Annual increment will be given only to those employees who have joined the organization on or before
30th September of that particular performance year. Increments will be given on fixed pay only.
Increments will be based strictly on individual and business performance. In case individual and/or
business performance is not satisfactory, the Company, at its discretion can decide not to give any
increment whatsoever. Your performance and contribution to the Company will be an important
consideration for salary increments and promotions. Neither the promotion nor the increment can be
claimed as a matter of right. The Company reserves the right to amend, change or cancel the above terms
pertaining to the bonus/incentive/increment, at any time without prior notice.
Retiral benefits
You will be entitled for Provident Fund, Gratuity as per the rules applicable to Management Personnel,
which may be changed from time to time.
Tax
You will be fully liable for the payment of income tax on your total remuneration including bonuses/
variable pay to the income tax authorities including other such statutory dues/taxes and this will be your
The Company shall be entitled to retain any and all amounts due to you including salary, remuneration,
compensation and other amounts as applicable; and to adjust and deduct there from, any or all amounts
due to be recoverable from or payable by you to the Company on any count.
Confidentiality
You will not either during your employment or at any time post resignation from services, use or
communicate to any person, any information of a confidential nature concerning the business of the
Company, or of its customer, supplier or other person having dealings with the Company ,as the case may
be, and which comes to your knowledge during the course of your employment other than in connection
with your services to the Company.
In performing your duties, you may from time to time receive or obtain Information/data/documents
from the Company or a related or associated or subsidiary or affiliated Company or otherwise have
access to information relating to their clients or business information, business plans, systems, personnel,
or other information of a confidential nature (“the Information”).
In consideration of the Company making the Information/ data/ documents available, you undertake and
agree that you will:
a. Keep the Information/data/documents confidential at all times and not divulge or communicate to any
person, other than those approved in writing by the Company, any of the Information/data/documents
which you may (whether before or after the date of this Letter) receive or obtain;
b. Not use the Information/data/documents for any purpose other than in connection with your services
to the Company;
c. Immediately return or destroy (at the Company’s option) the original and all copies of any records of
the Information/data/documents (in whatever form) and all notes and other documents embodying any
of the Information on the first to occur of any of the following:
i. on the Company’s demand;
ii. on termination or expiration of your employment with the Company.
Intellectual Properties
You shall, whenever requested so to do by the Company whether during or after the termination of your
employment hereunder, at the cost of the Company execute and sign any and all applications,
assignments and other instruments which the Company may deem necessary or advisable in order to
apply for and to obtain letters, patent, design, registration or other forms of protection for the aforesaid
improvements, inventions and discoveries in such countries as the Company may direct and to vest in the
Company the whole, right, title and interest therein.
You may have access to third party Intellectual Property that has been acquired by the Company by
licenses or otherwise in the course of your employment in the Company. Any unauthorised reproduction,
transmitting, publishing, adapting, storing, copying, modifying, distributing, displaying, reformatting,
editing, excerpting, hosting, broadcasting, routing or any other misuse of the third party Intellectual
Property by you is strictly prohibited and will constitute grounds for immediate termination of
employment.
You shall execute and comply with the proprietary information and inventions agreement with the
Company, which prohibits unauthorized use or disclosure of Company's inventions and proprietary
information.
Indemnity
You shall, at all times during the course of your employment in the Company (and even after the
termination with respect to the terms contained herein) agree to indemnify and keep indemnified the
Company, as the case may be, against all losses, damages, claims, interests, costs, expenses, liabilities,
proceedings and demands which the Company may suffer or incur or which may be made against the
Company as a result of any unauthorized disclosure or use of the Confidential Information by you or any
person related to you that may have access to such Confidential Information through you.
Non Solicitation
This non-solicitation condition will be binding on the employee for a period of 2 years from the date of
cessation/ termination of his / her services from the Company and any breach in the said condition would
result in considerable damages/loss to the Company, which cannot be adequately compensable by
money damages.
The Employee agrees and undertakes that in such an event the Employee shall fully indemnify and
reimburse the Company to the extent of such costs (liquidated damages).
You agree that for a period of 2 years from termination or expiration of your employment with the
Company, you shall not solicit or entice by any means whatsoever,
a. Any client of the Company with whom Company is currently (during your period of employment)
running a deal/mandate or any deal/ mandate that became known to you during your employment at the
Company.
b. Any person of Company who was employed by the Company or any person whose name became
known to you during your employment at the Company in any office and in any capacity.
c. You shall not work at the capacity of Executive or Non-Executive member of the board of the Company
supplier, vendor or partner.
d. Your agreement “not to solicit” means that you will not, initiate any contact or communication of any
kind whatsoever, for the purposes of inviting, encouraging or requesting any deal/ mandate/ account/
person to transfer from the Company to you or to your new employer or to any other person or entity; or
Governing Law
The interpretation and enforcement of this Letter shall be governed by and construed in all respects in
accordance with the law of India and the parties submit to the non-exclusive jurisdiction of the Mumbai
courts.
It is expressly agreed that this appointment is made on the basis that your services being mainly of a
Management and/or Supervisory nature, you will not be entitled to any rights, privileges and benefits as
may be or become applicable to employees covered by the Industrial Dispute Act,1947.
Warranty
You represent and warrant that you are not subject to any agreement, arrangement, contract,
understanding, court order or otherwise, which in any way directly or indirectly restricts or prohibits you
from fully performing the duties of your employment, or any of them, in accordance with the terms and
conditions of this Letter.
Data Protection
The Company may be required to process, transfer and store your personal and sensitive data in any of
the other Company locations. By signing this Letter, you acknowledge and agree that the Company and
Company Human Resources Department (HR) is permitted to hold personal information about you as
part of our personnel and other business records and that the Company and Company HR may use such
information in the course of its business. You agree that the Company and Company HR may disclose
such information to third parties in the event that such disclosure is in our view required for the proper
conduct of our business or that of any associated Company. This clause applies to information held, used
or disclosed in any medium.
Notice of Resignation/Termination
During Probation: Fifteen Days notice on either side with the Company retaining the right to pay salary in
lieu of the notice if so required. The payment in lieu of notice will be calculated on your Basic Salary.
However, based on your performance during the probation period, the Company reserves the right to
reduce/dispense with or extend the probationary period at its sole discretion or terminate your service
with immediate effect, without giving any notice or assigning any reasons.
Post Confirmation: Thirty Days notice on either side with the Company retaining the right to pay salary in
lieu of the notice. The payment in lieu of notice will be calculated on your Basic Salary.
The Company reserves its right to dispense with the notice period and/or part thereof in its sole
discretion by accepting your resignation with immediate effect i.e. even before the last date of
If at any time, in the opinion of the Management, you are found guilty of indiscipline, dishonesty,
disobedience, disorderly behaviour, moral turpitude, theft, fraud or violation of the Code of Business
Conduct or withholding of any information in the application form or any other form of misconduct, in
ordinary parlance negligence or acted in a manner detrimental to the interests of the Company, your
services are liable for termination with immediate effect and in this case notice pay will not be payable by
the Company.
Termination
Your employment / services will be governed by Company’s rules and regulations applicable from time to
time. If the Company is not satisfied with your performance on any account, the Company reserves the
right to terminate your employment with immediate effect by paying proportionate basic salary
(excluding variable pay) in lieu of any notice period applicable to you. The Company also reserves the
right to terminate your employment without cause, with a notice as approved by the organisation or by
paying proportionate basic salary (excluding variable pay) in lieu of applicable notice period.
If you wish to terminate your employment with the Company, you shall be required to serve notice as
applicable to you. The Company may however, at its sole discretion, waive off the notice period, in full or
in part, with or without proportionate notice period deduction of basic salary in lieu of short notice,
without assuming any liability to compensate you in respect of the period so waived.
Your services can be terminated for loss of confidence. In such an eventuality you will be kept informed in
writing of the reasons for losing confidence.
Notwithstanding anything contained in this Letter, the Company may terminate your employment with
immediate effect, at any time without notice or payment in lieu thereof or any compensation whatsoever
for Cause. For the purpose of this letter, "Cause" shall mean any one or more of the following:
a. Any breach of integrity, act of dishonesty, embezzlement, breach of statutory duties, breach of
confidentiality obligations, pilferage and theft, attending work under the influence of alcohol, or drugs or
any other intoxicating substances.
b. Breach of the Company rules and policies, guilty of serious misconduct, disobedience of reasonable
orders from superiors, causing actual or threatening physical harm or damage to Company property or
any misconduct by you or in case of breach of the terms, conditions or stipulations contained in this
Letter.
c. You being convicted of any criminal offence or committing fraud against, or the misappropriation of
material property belonging to the Company;
d. Your absence without approved leave for a period of more than 10 days;
e. You become insolvent or restrained under any contract or arrangement or are under any legal
disability from performing your obligations;
f. You conduct yourself in a way which, in the Company's reasonable opinion, may bring any member of
the Company into disrepute or which may jeopardize or prejudice the business and/or reputation of the
Company;
g. Any material violation of the Company’s policies;
h. The results of any background checks or searches conducted by the Company are deemed
unsatisfactory to it in its absolute discretion.
The employee accepts and agrees not to solicit any employee of the Company directly or indirectly after
cessation or termination of his / her employment from the Company
DECLARATION:
I, Mohd Aquib Siddiqui, have read and understood the above terms and conditions of the services and I
will abide by the same.
Name:
Signature:
Date:
Mandatory Documents:
•Aadhar Card
•PAN Card
•Scan Photograph (Please carry 2 Red background passport size photographs on the date of joining)
•Cancelled Cheque for salary processing. (Salary account must be maintained with Axis bank, Kotak Bank,
ICICI Bank, HDFC Bank or SBI )