Version 2.
02nd March 2022
Abdul Rahman,
Offer Letter /Appointment Letter
Dear Abdul,
Based on your application and subsequent discussions we had with you, we are pleased to offer you
employment in our organization as Software Engineer with the following terms and conditions:
1. Your date of Joining will be on or before 18th March 2022. This offer is valid for 3 days as
mentioned in the pg.7 of this offer.
This offer of your employment with Newt Global is subject to satisfactory completion of verification
and / or background or reference checks, which may occur at any time prior to after your effective start
date. Your cooperation is solicited in this regard to enable us to complete the necessary check on time
for successful on-boarding.
Any change in the date of joining needs to be communicated to the concerned recruiter at least one
week in advance.
2. You will be on probation for a period of 3 months from the date of joining and your confirmation
would be dependent on satisfactory completion of your Probation Period. During probation, no
leaves are permitted to employees. Unless notified in writing, you will be deemed as "confirmed" on
completion of your probation period i.e., 3 months from date of joining.
3. You will be based at Bangalore, you are however, liable to be transferred to any of our establishment
in India, or overseas or to any subsidiary or associate company, whether now existing or still to be
formed. Such transfer / deputation will be in accordance with the company's rules for the time being
in force. While every attempt will be made to give you reasonable advance notice of such transfer,
however, in case of emergency such transfers may be made effective immediately. In case employees
are not willing to move from current location, the company has all the right to take necessary actions
which can lead to termination from service. In such cases company is not liable to extend the full notice
period.
4. Your annual CTC will be Rs 13,00, 000 (Thirteen Lakhs only). The breakup of salary is as per
attached salary structure document (refer Annexure 1). You are entitled for Joining Bonus of Rs
Rs 50,000 if you join us on or before the above-mentioned joining date and the same will be paid
to you after successful completion of Probation Period. This is subject to usual statutory and / or
other taxes, which may be imposed from time to time by the Government, or any public body
authorized to do so. CTC includes all other allowances.
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5. You will be covered by all statutory compliance like Provident Fund, Gratuity, ESI and benefits like
Medical Insurance (Self, Husband/wife & dependent children/parents and Parent in laws) and other
schemes of the company as applicable to your category that are in force at present and / or may be
amended from time to time. These shall also be subject to taxes as applicable under relevant laws.
6. Working Hours - You will be governed by the normal working hours as existing in the company.
You may be required to work in shifts and/or in extended working hours, as permitted by law, if
required as per business needs. The same are subject to change from time to time.
7. The employment offer is valid for 3 days from this date of offer. If the company does not receive
any confirmation from you within the stipulated time this offer shall lapse automatically and then there
shall be no further communication from the company in furtherance of this offer of employment. Your
acceptance should accompany a resignation communication.
8. You will be required to give 30 days' notice to terminate this appointment after confirmation. The
Notice period during probation will be 15 days from your end to the company as well as from company
to you. The last working day would be decided at the sole discretion of the Management. The
Company, however, will have the right to terminate your appointment forthwith on account of
misconduct, including but not limited to, fraudulent, dishonest or undisciplined conduct, or breach of
integrity, or embezzlement, or misappropriation or misuse or causing damage to the Company's or
Client's property or breach of the confidentiality obligations.
If the Company terminates the employment and decides to relieve you before the completion of the
notice period, full salary for the balance notice period would be paid to you if you have completed
minimum of 12 months in the company. If at your request, the Company agrees to relieve you before
serving the full notice period, you will be liable to pay the Company the full salary for the balance
notice period. However, please note that accepting any such early relieving request would be entirely
at the discretion of the Company. On termination of your employment for any reason, you shall comply
with the Company’s termination procedures sign all documents and return all Company property. The
Company will not be bound to pay the dues, if any, till you have completed all the separation
procedures.
9. In case company has paid any Joining bonus, Notice Period Reimbursement, Relocation Expenses
or any loan or assistance or any other sum apart from usual monthly wages, these are refundable to the
company in case employee leaves the employment of the company in less than one-year time. The
money is refundable by last day of the employment and before company issues any relieving letter to
the employee.
10. Any revisions of your compensation package, promotions, and your continued employment with
the Company are all subject to you meeting the performance levels applicable to you from time to time.
Your performance may be informally discussed with you by your manager/s on a regular basis. You
will be eligible for performance appraisal once you complete 1 year of service in the organization.
Salary reviews will be done for deserving employees who have a performance rating of 4 and above.
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11. Leave: You will be entitled for casual leaves of 6 working days in a calendar year. This will include
any sick leaves, casual leaves or leaves availed on any other count except government holidays. These
leaves cannot be accumulated and will lapse every end of the calendar year in December. You are also
entitled to 12 working days of earned leave which can be carried forward and accumulated to the
maximum of 24 days. The leaves are accumulated on a pro-rate basis. Earned Leave encashment
applicable (24 days) on at the time of exit and will be paid if eligible along with the full and final
settlement calculated on the Basic Pay.
12. You will not divulge to any unauthorized person, nor use for any purpose other than company's
during the period of your employment with us, or thereafter, any information concerning the
company's (or its associates) operations, know-how, secrets etc. that you may come to acquire as an
employee of the company.
13. Newt Global India Pvt. Ltd. shall be the sole owner of any intellectual property developed by you
during your employment with the organization, having rights to sell, license, and control duplication,
distribution and preparation of deliveries of the intellectual property. You shall not claim any income
nor benefit from any such development at any point of time. You will be required to sign an ‘Employee
Agreement / Non-Disclosure Agreement’ at the time of joining.
14. You shall take reasonable care in maintaining and protecting the assets, properties, facilities,
software and hardware, if and when provided by Newt Global for your use. On demand, you shall take
steps to return such assets, properties etc., back to Newt Global in same condition as given, subject to
normal wear and tear, on cessation of employment or any other time as may be required by the
company. Failing this, the company shall be entitled to recover such cost / compensation as it may
deem fit, keeping in view the cost of such assets, properties etc.
15. Whenever there is change/update in your personal information, you shall notify the Company in writing
within three days’ time.
16. You will be governed by the Rules and Regulations of the company as are in force at present and /
or as may be introduced from time to time.
17. You will not take up any employment or assignment remunerative or honorarium with any other
organization, body or person without the consent of the Management in writing during the tenure of
your service with us.
18. The Company may require you to travel time to time within India or abroad, at its client sites for
training or work. This includes overseas assignment to work for clients. Considering the substantial
investments, Company will require you to sign an agreement to serve the Company for a specific
minimum period of time after receiving such training or overseas assignment. The details of this
agreement shall be spelt out at the time of nominating you to such training or assignment.
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19. The company will undertake the background verification / validation process of employees in terms
of education, previous employment(s), criminal verification, database and web searches, address
verification, claims made against achievements in the resumes/CVs of the employees etc. With the
help of a third party as and when required. You would be required to submit photocopies of documents
detailed in Annexure II to facilitate the joining and background verification process.
The company may also undertake reference check through at least two professional references
submitted during the process of selection. In case the Prospective Employees fails to submit any
document required for conducting background verification, they will not be considered for hiring. If
the Prospective Employees fails the background verification, appropriate actions including withdrawal
of offer of employment will be taken based on the recommendations given by the background
verification team & in line with Newt Global policies.
20. Without affecting your obligation to give accurate information about yourself to the Company, the
Company reserves the right at any time to make such inquiries as it deems fit, including but not limited
to inquiries for the purpose of ascertaining the accuracy of any information you have given the
Company, and for verifying whether you have a criminal record or a record of any indiscipline or
misconduct with a previous employer. By signing this letter, you shall be deemed to have consented to
such a procedure of ‘background check' and to have waived your right to lodge any claim or action
against the Company, including but not limited to any claim related to invasion of privacy.
21. If you are involved with other profession activity while working with Newt Global, which gives
you any remuneration in cash or kind for your work (Remuneration paid in your name or another family
member for your work), you are required to submit the details of any such professional activity to Newt
Global for approval. If this work does not impact Newt Global ‘S regular work as per the code of
conduct, we will give you an NOC for the same.
In case you do not disclose, and do not obtain an approval from Newt Global and at a later date, you
are found involved in such activity, you will have to refund 100 % of the remuneration paid by Newt
Global from the date of start of your employment along with a penalty of 10 % of your Annual CTC
as liquidated damages to Newt Global.
22. Any future changes in the company policies, rules & regulations will supersede the terms
mentioned in this letter.
23. You will not be serving our clients (where you have worked as Newt Global employee) for a period
of two years from the date of separation without our written permission. This is further elaborated in
“Employee Undertaking / Non-Disclosure Agreement.
24. You shall retire from services of the company on attaining the age of superannuation as determined
from time to time. For this purpose, proof of age in official records with the company will be treated
as final.
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25. Newt Global encourages employees for continuous upgradation of knowledge / skills. The
Organization may invest on training / certification for individuals based on business needs to further
enhance the skills of employees. The amount spent towards certification / training will be recovered if
the employees leave the organization within 12 months from receiving this benefit.
26. Clause on Service Level Agreement/Incentive/ Variable Pay (Only if applicable to your Position):
Your SLA/Incentive structure/ Variable pay structure is as per agreed with you and is attached with
the offer/will be drawn up within first month of employment and is attached with this offer. Your
performance will be evaluated as per this SLA/Incentive structure/ Variable pay structure on monthly
basis. Any time you are not meeting SLA, company can terminate your services by providing you one
week of notice.
All Incentive/Variable pay will be paid in accordance with the Incentive structure/ Variable pay
structure document. To be eligible for the payout, you need to be active on the rolls of the company on
the effective date of reward distribution as per our performance review and reward cycle.
Any dispute arising in connection with your employment shall fall under the jurisdiction of the Chennai
High Court / Chennai Courts.
We welcome you to Newt Global India Pvt. Ltd., and look forward to a long and happy association.
Sincerely yours,
For Newt Global India Pvt. Ltd,
Prakash Kumaran
Associate Director – Human Resources
Declaration: “I have read understood and unconditionally accept the terms and conditions of my
appointment letter and agree to keep its contents strictly private and confidential. I understand that by
sharing this confidential information with anybody, including but not limited to any employee of the
Company, will amount to a breach of my employment terms with the Company and I will be liable to
be terminated without any notice or compensation in lieu of. I hereby declare that the information
stated in my resume and any other information I have given/may give the Company is complete,
accurate and true in all aspects.”
Read, Understood and Agreed.
Name: Signature: Date:
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Annexure I
Name: Abdul Rahman
Designation: Software Engineer
Location: Bangalore
Cost to Company (CTC) -Fixed ₹ 13,00,000.00
Cost to Company (CTC) -Total: ₹ 13,00,000.00
Per Month Per Annum
SL Break-Up (Rs) (Rs)
1 Basic ₹ 32,500.00 ₹ 3,90,000.00
2 House Rent Allowance ₹ 19,500.00 ₹ 2,34,000.00
3 Conveyance ₹ 1,600.00 ₹ 19,200.00
4 Medical Reimbursement ₹ 1,250.00 ₹ 15,000.00
5 Leave Travel Allowance ₹ 3,900.00 ₹ 46,800.00
6 Special Allowance ₹ 44,120.08 ₹ 5,29,441.00
Gross Salary ₹ 1,02,870.08 ₹ 12,34,441.00
Gratuity (4.81% of Basic) ₹ 1,563.25 ₹ 18,759.00
Provident Fund (12% of basic)1 -Employer Contribution ₹ 3,900.00 ₹ 46,800.00
Fixed Remuneration ₹ 1,08,333.33 ₹ 13,00,000.00
Total Cost to Company (CTC) (Fixed) ₹ 1,08,333.33 ₹ 13,00,000.00
[Link] amount mentioned above will be company contribution towards PF.
• Gratuity will be paid on separation after 5 years of continuous services with Newt Global,
payable as per payment of Gratuity Act.
• Medical Insurance – Floating Medical Insurance Coverage of Rs. 3,00,000 per annum for self
and their dependents. Employee can cover their spouse, children (only 2), Parents and Parents
in laws and appropriate insurance premium will be deducted from the gross salary.
• Out of Gross salary mentioned above, applicable deductions are employee PF, Medical
Insurance premium, Professional Tax and TDS as applicable, etc.
Disclaimer
You will be liable to pay all applicable taxes on your income as per the local laws. You will also be
responsible for filing your personal Income Tax returns. You acknowledge that the Company is not
in any way influencing, guiding, suggesting on aspects of taxation or tax saving measures in any
form and that the same is individual’s decision / personal choice.
Please note that all components mentioned above may or may not be a part of your compensation
structure. Newt Global reserves the right to alter, append or withdraw the benefits extended either in
part or in full based on management’s discretion.
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Annexure II
Checklist of Documents for BG verification to be submitted at the time of offer acceptance (within
3 days of receiving the offer):
• All Educational Marks Card including SSLC / 10th, PUC / PDC / +2, Graduation, Post-
Graduation, or any other Qualification.
• Provisional & Degree Certificate - Graduation and Post – Graduation
• Relieving & Experience Certificates for all the previous employment till date
• Last 3 months’ Pay Slip.
• Passport Copy
• Aadhaar Card Copy
• Pan Copy
• Form 16
• Cancelled Cheque leaf
• Signed offer letter.
• Non-Disclosure Agreement
• Code of Conduct
• Digital Picture only with White Background Only (Preferred with Blazers)
At the time of on-boarding Two Sets of Photocopy of above Documents to be submitted
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