Joining Expenses Policy

1. Objective

This policy provides guidelines related to reimbursement made to employees for joining expenses.

2. Eligibility

All new employees will be eligible for the following joining expenses for relocation from current place of employment/stay to the place of posting at SVAAS Wellness Limited.

1. Travel Expenses
2. Initial Stay Expenses
3. Packaging & Transportation of household goods
4. Payment against Notice Period with the previous employer
5. Medical Test Expenses (Pre-employment medical check - up)
6. Travel Expenses:

The new employee, the spouse, children and dependent parents will be entitled to claim reimbursement of actual fare on the following basis:

* The above table is aligned to Field TA policy of GG India. As and when the GG India TA policies are revised, the same will be applicable to the above entitlements.

For other trainees, the role into which they would get confirmed would govern their eligibility.

Boarding and lodging expenses en-route will be reimbursable up to reasonable limit. The new employee is entitled for a maximum of two single trips. Only one time travel of all the eligible family members (spouse, children and dependent parents) from the current place of stay to the location of posting will be reimbursed.

1. Initial Stay Expenses

The new employee along with the family (spouse, children and dependent parents) can be on tour status up to 10 days to enable them to find a suitable accommodation. This is subject to prior approvals of HR at the time of joining.

Entitlement of Daily Allowance on Tour Status (Rs. /Day) (Against production of bills/vouchers):

The above allowances will be eligible from the date of his reporting at the new headquarter.

      If the employee chooses to stay with relatives/friends, he/she can claim 50% of the Daily

      Allowance without vouchers/bills, subject to prior approval of HR in writing at the time of    joining.

If the boarding and lodging facilities have been provided by the company, daily allowance would not be admissible.

1. Transportation / Packaging Expenses within India

Actual Packing, loading & unloading, and transportation expenses inclusive of insurance coverage in respect of household goods will be reimbursed against vouchers/bills subject to the following limits -

The above will not be applicable for employees who are relocating within the city.

The new employee can claim reimbursement of transportation of one self-owned vehicle (four wheeler or two wheeler in the employees name), by the    most economical means of transport to the station of location of posting. This will be in addition to the   packaging/transportation charges of household items. The new incumbent is advised to invite and negotiate at least three quotes from three different agencies for the transportation of vehicle before opting for the most economical one. Employee should produce itemized bill for claiming reimbursement in such cases where vehicle transportation cost has been clubbed in the same invoice/receipt.

The following bills/supporting documents have to be submitted to HR at the time of claiming     reimbursement. –

1. List of Items transported (on the letter head of the transporter)
2. Invoices of transportation charges, loading/unloading charges

• Receipt of payment for transportation, loading, unloading.

1. Insurance Cover note. If insurance claimed
2. Insurance payment receipt if insurance claimed
3. Octroi receipt (if applicable)

• CST, GST and Road Permit number
• Proof of transaction – cheque/DD/bank draft

1. In case of cash transaction, an employee of the company needs to be present to verify the payment
2. Self-declaration of relocation in the prescribed format

In case any new employee joining travels by his/her own vehicle, he/she will be entitled to reimbursement as per the policy for the role.  

Transfer of the new incumbent’s family and the shifting of the household goods are expected to be completed within 3 months of joining duty. Any extension thereof will require prior   approval of Lead HR BP & above. Extension beyond 12 months from the date of joining will not be permitted in any case. All claims must be preferably made in a single instance for ease of reimbursement. Any expenses incurred over and above the limits will be reimbursed subject to the approval of the India HR Head.

1. Payment against Notice Period

In case it is agreed during the discussions before employment, payment made in lieu of notice period with the previous employer would be reimbursed. Approval of the same must be sought from the India HR Head upon joining as a part of the joining expenses claim.

1. Medical Test Expenses (Pre- employment Medical Check Up)

The new employee is entitled to claim reimbursement of actual expense incurred for pre-employment Medical Check-up, up to a max of Rs. 1500

3. Process of Claims

Employee should fill the Joining Expenses Claim form (Available on Unnati portal with due approval from respective L+1/L+2) with all supporting documents and send it to EST for processing.

1. a) Cut-Off date for sending the expenses (Joining & Medical Expenses) is 15th of every month to EST team.
2. b) All Expenses after 15th will be processed in the next month’s payroll cycle.
3. c) Please keep a Xerox copy of the expenses, with you for future reference.

The claim should be made within 3 months from Date of Joining

4. Income Tax

All tax liability towards receipt of joining expenses shall be borne by the employee.

5. Separation

In the event of separation of the employee from the company within one year from the date of joining the company, the employee shall refund the entire joining expenses claimed from the company.

Salary Advance Policy

1. Objective

The policy is aimed at providing interest free salary advance from the company to an employee for a personal or professional eventuality.

2. Eligibility

An employee can take up to one month's gross salary/ gross Total Cost to Company (TCC) as an advance. Taxes as applicable will be borne by the employee.

3. Applying for Salary Advance

The employee will need to the fill salary advance form. This application needs to be approved by a manager at a role of RSM and above.

4. Payment of salary advance

The salary advance will be credited to your account.

5. Repayment

Employee can repay the advance in a maximum of six equal, interest-free, monthly installments. These will be automatically deducted from the employee’s salary. In case of resignation, the outstanding loan amount will be adjusted in the final settlement. There should be a gap of six months from the date of repayment of the previous salary advance to take another one. In case of any exceptional / emergency situation a request for a subsequent advance in a period less than 6 months can be approved by GG India HR Head. In such exceptional cases, the unrecovered amount from the previous advance would be adjusted in the subsequent advance payout.

Imprest Cash Policy

1. Objective

The policy is aimed at providing an advance from the company to an employee on joining and promotion to allow replenishment of the initial spend made for official purpose.

1. Eligibility

An employee is given imprest cash as per the grid mentioned.

In addition, all AMs/ RMs/SMs transferred to Mumbai (other than those cases of personal request) from other parts of the country are eligible for an additional imprest amount which shall be recoverable on transfer from Mumbai to another area.

At the time of promotion, an employee is eligible to get the differential amount corresponding to the new Role which is the difference between the New Imprest eligibility and the Old Imprest issued already.

For Ex – A PSR on joining gets an imprest cash of Rs 7000. On promotion he/ she will get a differential imprest cash of Rs 7000 hence making a total of Rs. 14000

3. Reimbursement

The release of imprest cash for a new joinee happens along with the first month’s salary.

The release of imprest cash on promotion happens with effect from Date of Promotion or basis the HR advice.

1. Recovery of Imprest Cash

The recovery of imprest cash is done during separation or retirement.

Relocation Policy

1. Objective

On account of organizational requirements, employees are transferred from one location to another from time to time. This policy emphasizes the guidelines on relocation expense reimbursement in event of transfer of an employee. 

2. Eligibility

All employees on transfer from one location to the other are eligible for reimbursement of expenses involved in the relocation. However, employees transferred on their personal requests are not eligible for any of the benefits mentioned in this policy.

Employees on Role Assignment can claim eligibility corresponding to the Role Band they will be moving into.

For Ex: - An AM who is in a Role Assignment and will get promoted as an RM, can claim the amount as per the RM eligibility.

3. Policy

Employees are eligible to claim the following expenses on transfer:

1. Travel Fare
2. Packaging and Transportation of Household Items
3. Transportation of Vehicle
4. Incidental expenses
5. Stay arrangements at new posting
6. Entitlement of tour status during daily allowance
7. Travel Fare

Travel for the employee and his/her family (spouse, dependent parents and children) by air/rail in the class he/she is entitled to travel as under:

Entitlement: Travel & Local Conveyance for relocation

*

1. Packaging and Transportation of Household Item

The company will bear the cost of shifting of personal and household items, including packing, loading, unloading and insurance expenses for various categories of employees on actuals subject to the limit specified as below, with supporting bills:

Employees should obtain three quotations and submit the same along with relocation reimbursement details, out of the three quotations obtained, the most economical one has to be used. The above given entitlements are inclusive of Packing, Unpacking, Insurance and all other incidentals related to shifting of household goods. Employee must furnish the following bills/supporting documents to HR at the time of claiming reimbursement for relocation expenses.  Post receipt of all the documents only HR shall process the same:

1. List of Items transported (on the letter head of the transporter)
2. Invoices of transportation charges, loading/unloading charges
3. Receipt of payment for transportation, loading, unloading.
4. Insurance Cover note. If insurance claimed
5. Insurance payment receipt if insurance claimed
6. Octroi receipt (if applicable)
7. CST, GST and Road Permit number
8. Proof of transaction – cheque/DD/bank draft
9. In case of cash transaction, an employee of the company needs to be present to verify the payment
10. Self-declaration of relocation in the prescribed format

Any expenses incurred over and above the limits will be reimbursed subject to the approval of the SVAASHR Head.

1. Transportation of Vehicle

In case, the employee under transfer owns a vehicle (either a two wheeler / a four wheeler), the company will bear the actual expenses of transportation of one personal vehicle by the most economical means of transport to the station of new posting. Three quotes to be obtained before opting for the most economical one which shall include insurance, octroi and all other incidentals related to shifting of vehicle to the HQ.

This amount will be in addition to cost incurred towards shifting of Household Items. The same should be itemized in the receipt/invoice if it is a combined invoice/receipt.

In case the employee travels by his/her own car to the new station of posting, the employee will be entitled to reimbursement @ Rs7.00.per KM  subject to prior written approval from SVAAS  HR Head. However the overall limit of the amount of reimbursement should not exceed the cost of transporting the vehicle by train/road.

1. Stay Arrangements and Entitlement of Daily Allowance on Tour Status

The employee will be given four days special leave towards relocation. Any extension, thereafter, will be counted as official leave. However, if the employee does not immediately require special leave on account of relocation and if he/she so desires, he can avail this leaves within 15 days from the day of his reporting at the new place of posting.

 An employee under transfer, on his reporting at new place of posting will be treated as on Tour. From the day of his/her reporting at new place of posting, he/she will be eligible for reimbursement of Boarding and Lodging expenses incurred by him/her and his/her family stay at actuals subject to his/her eligibility as applicable on  “Tour Status”. Such stay should not exceed 7 days.

1. Entitlement of Daily Allowance on Tour Status (Rs./Day) (Against production of bills/vouchers):

The above allowances will be eligible from the date of his reporting at the new headquarter. If the employee chooses to stay with relatives/friends, he/she can claim 50% of the Daily Allowance without vouchers/bills for 7 days. If the boarding and lodging facilities have been provided by the company, daily allowance would not be admissible.

The shifting of the employee’s family and his/her house hold goods should be completed within one month of the employee reporting for duty at new place of posting, to avail this facility. Extension, if any, would require prior approval of Division Head.

4. Schooling

The expenses per child paid towards school admission shall be reimbursed subject to a limit of INR 50,000 towards Tuition fee; non-refundable deposits and expenses towards books. This entitlement is limited to two children.

Relocation expenses should be claimed separately in a detailed statement indicating the expenses incurred along with supporting documents. The statement should be submitted to the Human Resource Department through the concerned line manager. Any expenses incurred over and above the limits will be reimbursed subject to the approval of the HR Head. The above are the maximum limits subjects to the actual receipts.  

5. Advance for Relocation:

Employees on relocation are eligible for one month gross salary as advance.  

This is applicable for authorized transfers only and, hence, is not permissible in cases of request transfers.  This will be adjusted against the relocation expenses, which need to be submitted within 45 days from the date of receiving advance. 
Non-submission of bills within stipulated.

Any delay in submitting the bills requires prior approval from Lead HR BP and Above.

6. Procedure to Avail Advance against Relocation

Prepare a request for the advance and enclose estimated quotation for relocation as per the Relocation Policy.  Obtain approval from line manager and forward the same to HR along with the following appropriate details.

7. Income Tax

All tax liability towards receipt of joining expenses shall be borne by the employee 

8. Separation

In case, an employee leaves the organization within one years of relocation, he or she shall have to refund the total relocation expenses paid at the time of transfer.

Long Term Service Awards

1. Objective

To recognize and reward employees on completion of 5, 10, 15 and 20 years of service with the organization.

2. Eligibility

All employees at PSR / SBE Level will be eligible for this reward. Other employees in Managerial roles would be governed by the Corporate policy 

3. Quantum of Gift

The eligible employee will receive a Salary increase of Rs 6,000 per annum on completion of 5 yrs milestone. This amount will be added to the Minimum Guaranteed Bonus (MGB) component in the next month’s salary from the date he completes 5 years of service.

The eligible employee will receive a onetime payment of Rs 12000 on completion of 10 yrs, Rs. 18000 on completion of 15 yrs and Rs.24000 on completion of 20 yrs of service is given to an employee. The payment shall be made along with the salary in the month of completion if the date of joining is between 1^st to 15^th of the month, else the same shall be credited with the salary of subsequent month.

An eligible employee can be disqualified based on the recommendation received from the Commercial Head / Head - Sales.

Meternity Leave and Benifits Policy

1. Objective

All the employees on the brink of parenthood will find the company very supportive of their new circumstances. And in this space, the company goes beyond rules and stipulations of the government to support the employees with pregnancy-related conveniences.

2. Eligibility

Women employees who are confirmed, on probation or undergoing training are eligible to avail leave as per the guidelines given below.

3. Procedure for availing leaves
4. All women employees get 26 weeks of paid maternity leave. It can be taken pre- and post-delivery. In the case of pre delivery leave, the employee can take up to eight weeks.
5. Holidays and weekly offs falling in-between are counted as part of maternity leave.
6. In case of an emergency such as a miscarriage, the employee can take six weeks of leave immediately following the date of the incident.
7. Employee can get an additional month of paid leave for illnesses arising out of pregnancy, delivery, premature birth of a child, or a miscarriage
8. Accumulation, Carry forward & Encashment of Leaves

Maternity leave benefit cannot be accumulated, carried forward or encashed.

5. Sanctioning Authority

Leave is sanctioned by the immediate supervisor, in consultation with the HR BP. Since the company will need to make replacement arrangements while the employee is on maternity leave, the employee needs to inform 3 months in advance about planning to go on leave.

Leave Policy-SBO and above

1. Objective

The policy outlines the leave entitlements and the procedure for leave encashment for field employees in Roles SBO and above.

2. Eligibility

Scientific Business Officers, Area Managers, Regional Managers, Key Account Managers, Manger- Scientific Business, Manager- Oncology and Sales Managers are eligible under this policy 

3. Holidays

All the employees in Roles SBO and above are entitled to 10 holidays in a calendar year.

4. Entitlement 

Leave entitlement for all employees is 38 days for a financial year commencing from April to March. It is calculated on a pro-rata basis for those who join during the year. The entitled leave of a financial year cannot be carried forward to the subsequent financial year.

At least 50% of the leave entitlement of a financial year must be availed failing which it would lapse without any monetary compensation. The balance leave entitlement as on 31^st March of a financial year, subject to a maximum of 19 days will be encashed with the next year’s June salary.

5. Procedure for availing leaves

Leave is not a matter of right. Leave must be applied in advance through email/ written documentation to the Line Manager for approval.

The Company reserves the right to curtail/refuse the leave applied for or recall an employee, who has already been granted leave, if exigencies or work so warrants.

Where prior approval could not be obtained, the superior should be informed over the phone or by other means. Such regularization should happen within 7 days of resuming duty, failing which the period would be considered as leave without pay.

Holidays and weekly offs falling during leave are not counted as part of leave. All employees have to avail the leave for a full day. Half-day leave is not permitted.

6. Exceptional Leaves

If an employee requires leave beyond the annual entitlement in case of exigencies, the employee can seek approval for Exceptional Leaves stating the purpose and duration of such exceptional leave. Such exceptional leaves can be approved by the SVAASBusiness Head on recommendation from the Division / Sales - Head and SVAAS HR Head. Such exceptional leaves will be adjusted against leave entitlement of subsequent financial years.

7. Separation

Employees leaving during the year are eligible for pro-rata leave encashment. If leave availed is in excess of the pro-rata entitlement, it will be subject to adjustment against leave encashment and/or deduction from the final dues.

8. Procedure for availing leaves

The application should be submitted to the employee’s immediate supervisor. Leave should be applied in advance. In exigencies where prior approval cannot be obtained, the supervisor should be informed over the phone or by other means to be followed up later with a written request. Unapproved leaves will be approved automatically after a period of 7 days from application.

Employment Of Near Relative Policy

1. Objective

The policy is aimed at promoting diversity in employment and bringing in greater transparency in the recruitment process.

2. Definitions

Near Relatives are those described as under:

1. A spouse,
2. A parent
3. A child
4. Brothers and sisters
5. Parents of the spouse
6. Brothers and sisters of the spouse
7. Description

Under no circumstance, a near relative of any employee on the rolls of the organization as on the date of commencement of this policy shall be granted employment with the organization. The categories of near relatives are listed in Para 4 above.

4. Exclusions
5. The near relatives of an employee already employed with SVAAS Wellness Limited as on the date of commencement of this policy.
6. Two employees on the rolls of the organization choosing to marry each other.

In such situations, the section Employment/Business Activities of Relatives in ‘Conflict of Interest’ will become applicable. The applicable statement is reproduced here.

If an employee has a close relative who is also an employee of the Company, he/she should not have any part in the decisions regarding relative’s compensation and career in the Company or any other employment decisions. Further, utmost care should be taken to ensure that near relatives do not work on activities with common interface on a regular basis.

5. Exceptionally Deserving Candidates

In case, there is a near relative of the employee who is exceptionally qualified and is a deserving candidate, the decision related to the employment may be done in consultation with the Chief of HR.

Leave Travel Assistance Policy

1. Objective

With a view to enable employees to take time off from their work and to enjoy their holiday with family, the company provides a policy for reimbursing the travel charges incurred by the employee along with his/her family members.

2. Eligibility

This policy is applicable to all the confirmed employees in the field.

Claiming LTA

LTA is a component of your fixed TCC and is paid out to you monthly.

You can claim tax exemption on the LTA amount for that year by submitting the travel expense bills for you and your dependent family in accordance with the Income Tax Act. You can avail a tax exemption on LTA only twice in a block of four years (pre-defined by income tax rules).
LTA is applicable for all economy air and rail fares within India. International travel doesn’t get covered under LTA tax exemptions. Family members for the purpose of LTA include your spouse, children, dependent parents and dependent siblings.

3. Taxes on LTA

An employee can get a tax benefit on LTA only on the amount spent on self and family’s travel via the shortest route from point A to point B. For this, the claim needs to be supported by proof of travel and relevant bills. Typically, one can get a tax break on LTA only twice in a block of four years. The other times if it is claimed, despite of travelling and submitting the bills, it will be taxed.

Tax blocks announced by the Income Tax Department

4. Process Flow for availing LTA

Employee ---> claims LTA Advance ( prior to proceeding on leave) -à GSA Team --->

Submit LTA claim within 15 days from the day of the completion of the leave .

Benefits

ProvidentFund

SVAAS Wellness Limited employees have the benefit of provident fund (PF) in India as per the Employees Provident Fund and Miscellaneous Provisions Act, 1952. Provident fund is a statutory contribution made by an employee at the rate of 12% of basic salary. The company contributes at the same rate to the fund as well. The contribution made by an employee and the employer is deposited with the Regional Provident Fund Corporation (RPFC), Hyderabad. Provident fund (PF) contribution by the employer & and an employee are not a taxable income for Income Tax purpose. The employees have the benefit of withdrawing from the fund in case of any financial exigencies, upon leaving an organization and upon retirement as per the guidelines of the Employees Provident Fund and Miscellaneous Provisions Act, 1952. An employee can also transfer the fund from the previous employer to SVAAS Wellness Limited upon joining.

Forms for various Provident Fund (PF) related transactions are:

1. Nomination Form No. 2 for new members of the fund
2. Form No. 13 for transferring PF from one employer to another:

Form No 19 is for Provident fund withdrawal & Form No. 10 C is for Pension scheme withdrawal

FAQs

1. Can I enhance my voluntary contribution to Provident Fund?

Answer: - You can do so. PF multipliers are @ 12% up to a maximum of 96%. However option once exercised cannot be changed.

2. Can I withdraw my PF at the time of leaving?

Answer: - Yes, you can withdraw your PF in following cases:

1. Retirement on attaining 58 years of age. – You can apply for withdrawal immediately on settlement.
2. Voluntary separation / Termination- You can apply for withdrawal only after 60 days from the last working day.
3. Retirement on account of total and permanent incapacity due to bodily or mental infirmity – You can immediately apply for withdrawal along with settlement along with copy of the certificate issued by the Competent Medical Authority.
4. Migration from India for permanent settlement abroad or taking employment abroad. – You can apply for withdrawal immediately on settlement.

1. Where can I check for my PF Account Balance?

Answer: - The PF balances are available in your monthly payslips.

You can get in touch with our PF Help desk at [email protected]

FAQs

The Health Insurance Policy - Mediclaim