10-01-26
Laxman Pandit
FY26095674
Dear Laxman Pandit,
Further to our offer and your acceptance thereof, we have pleasure in appointing you as
Executive Business Development at our Muzaffarpur office effective 12-01-26.
Deputation: you are deputed to the “Client” under this Contract. The terms of employment are
exclusively with NetAmbit ValueFirst Pvt. Ltd., the employee shall never be deemed to be the
employee of the client, where you have been deputed under this Contract.
You will with effect from 12-01-26 be deputed by NetAmbit, to work at client's office / premises
at any of their locations.
1. Employment Terms: You are being appointed as a full-time employee at NetAmbit
ValueFirst Services Pvt. Ltd. on a piece rate basis, for the Company at the compensation
rate provided in Annexure I. The terms “touchpoints” and “pieces” are used
interchangeably in this letter of appointment and mean the same for the purpose of this
letter. While your compensation and performance evaluation will be linked to specific
deliverables, your engagement shall continue to be governed by the terms applicable to
full-time employment at the company. You will be entitled to applicable statutory benefits
and shall remain subject to the Company’s employment policies, code of conduct, and
other rules and regulations, as amended from time to time. You are expected to work as
necessary to meet your goals as assigned. Any reasonable and unavoidable failure to
achieve your goals or deviation from expected goals may be considered by the company
as an exemption, only in exceptional cases, subject to prior written approval from the
Company, depending on the facts and circumstances of each case. You may also be
required to attend duties on Public Holidays as per the exigencies of work and as
permissible under applicable law.
2. Estimated Compensation: While your engagement is on a piece rate basis and your
earnings are subject to the meeting of prescribed touch points per day, your annual
indicative Cost to Company will be INR 234144, under the current piece rate employment
model. The details of your compensation structure are provided in Annexure I & II.
Note: The above components are subject to statutory deductions (e.g., Provident Fund,
Professional Tax, Income Tax) as per applicable laws and Company policies. Any tax liability
arising out of allowances, perquisites, and reimbursements will be borne by the employee.
3. Background Verification: This offer of appointment is subject to positive feedback on
your reference checks and conditional upon successful background checks (which may
include but is not limited to criminal checks, verification of previous employment,
education verification, credit check and appropriate identification verification etc.) being
conducted either by the Company or an appropriate third party, and the results of such
background checks being favorable in the Company’s reasonable opinion. If this condition
is not satisfied, then this offer of appointment will be deemed to be void or will become
void, on notice by the Company. These reference and background checks may be
conducted before or during your employment with the Company. The Company may
withhold your salary and/or terminate your employment, at its sole discretion, in case
these reference checks are not favorable.
4. Transferability of Services: By accepting this offer of employment, you acknowledge and
agree that your services are transferable, and the Company reserves the right to transfer
you to any of its other offices, branches, departments, subsidiaries, affiliates, or associated
companies, whether currently existing or established in the future, at any location within
India or internationally, at any time during the course of your employment. Such transfer
may be temporary or permanent and may involve a change in your designation, duties, and
responsibilities, as deemed necessary by the Company to meet business requirements. The
Company shall provide reasonable notice of such transfer, and your remuneration and
other terms and conditions of employment shall be adjusted in accordance with the
Company's prevailing policies applicable to the new location or role, subject to applicable
laws.
If at any time hereafter it shall be agreed between the Company and yourself that an
alteration shall be made in your salary, duties or place of employment, such alteration shall
not affect the other terms of this Agreement, except as may be expressly agreed on.
5. Confidentiality: You represent and warrant to the Company that you are under no
obligations or commitments, whether contractual or otherwise, that are materially
inconsistent with your obligations under this Agreement. In connection with your
Employment, you shall not use or disclose any trade secrets or other proprietary
information or intellectual property in which you or any other person has any right, title or
interest and your Employment will not infringe or violate the rights of any other person.
You represent and warrant to the Company that you have returned all property and
confidential information belonging to any prior employer, other than confidential
information that has become generally known to the public or within the relevant trade
industry.
You shall not, unless directed by the company, either during the continuance of this
engagement or thereafter disclose, divulge, or communicate to any person or persons
whatsoever any information of a secret or confidential character relating to the trade or
business of the Company or of the Client or to the strategies, plans, methods, process,
appliances, machinery or plant used by them, or by any of them or to any activities or
experiments made by them, or any of them, or by any persons in their employ, or relating
to the prices paid or charged by, or the customers or suppliers of the Company or of the
Client.
6. Policies, Code of Conduct & Conflict of Interest: During the period of deputation, You
will be governed by the rules, regulations, policies, and procedures of the Client, including
but not limited to the Code of Conduct, Privacy Policy Guide, IT Usage Policy, Safety and
Environment Policy, Prevention of Sexual Harassment Policy, and any other policies that
may be introduced or amended from time to time. You are expected to read, understand,
and adhere to all policies of the Client. You agree to abide by the principles set out in the
document, breach of which can have serious consequences including dismissal from
service.
You will not borrow or accept any money, gift, reward or compensation for your personal
gains from or otherwise place yourself under pecuniary obligation to any person with
whom you may be having official dealings.
If you are at any time found to be guilty of misconduct, commit any breach of this
Agreement, or refuse or willfully neglect to perform to the satisfaction of the Company or
the Client or any of the duties devolving upon you under this Agreement, the Company
may at once, without any previous notice, terminate your appointment as per the
Company’s policy.
7. Assets: During employment or upon the termination or separation of employment, you
agree to promptly return all company/ client-owned assets, including but not limited to,
electronic devices, identification badges, proprietary information, documents (whether
originals or copies or in hard copy or electronic form), and any other property belonging to
the company/ client, which may have been prepared by you or have come into your
possession, custody or control in the course of your employment, on or before your last
working day with the Company. In the event that any assets are not returned in good
condition due to damage (partial or total), and / or client makes any claim for assets
damaged due to your conduct or not returned by you, the company reserves the right to
recover the cost of such assets or cost of such repair or replacement of the asset at fair
market value, as the case may be, from your monthly salary or/and your full and final
settlement, if applicable.
8. Data Privacy and Protection: During the course of your employment with the Company,
you may provide the Company with confidential data or personal information that can be
linked to you personally, or otherwise personally identifies you, including without
limitation your financial information, government identifiers, emails, addresses, telephone
number, physical, physiological and mental health information, and medical records and
history (Personal Data). You acknowledge that the Company may collect, use, transfer,
store or otherwise process (Process) such Personal Data as required per the Company’s
policies, to facilitate the conduct of the Company’s business, to conduct background
checks, for finance, accounting and marketing purposes or for quality and risk
management purposes. The Company will Process your data in accordance with applicable
law and professional obligations and shall ensure that any service provider who Processes
Personal Data on your behalf adheres to such requirements.
You hereby consent to the Processing of your Personal Data in the manner described
above, whether by the Company or any service provider on the Company’s behalf. During
your employment with the Company, you may have access to Personal Data, including but
not limited to that of Company's customers, employees, Clients, vendors, or merchants,
for the purpose of discharging your employment duties. You agree to comply fully with all
applicable laws, regulations, and government orders relating to Personal Data and its
protection as applicable to the Company including its Privacy policies. You shall always
during or after the course of your employment act with utmost care and good faith to
protect the Personal Data and not disclose or divulge any Personal Data to any third party
or make use of any such Personal Data for your own benefit.
9. Performance Standards: Your continued employment is subject to regular review against
pre-assigned targets and benchmarks, based on metrics, including, but not limited to
pieces/touch points as specified by the Client. These will be communicated to you
periodically in advance by the Client. The outcome of this review may include recognition
and rewards, and depending upon meeting levels of performance as communicated in
advance, may also include support measures like Training and Performance Improvement
Plans (PIP), or disciplinary action such as a warning. Failing to meet the required
performance standards may lead to the termination of employment.
10. Termination of Employment: After completion of your probation period, either you or the
Company shall be entitled to terminate your employment at any time as per this
Agreement. Any contrary representations that may have been made to you shall be
superseded by this Agreement. This Agreement shall constitute the full, valid, enforceable
and complete contract between you and the Company on the nature of your employment,
which may only be changed in an express written agreement signed by you and a duly
authorized officer of the Company.
a) Voluntary Resignation by Employee: You may voluntarily resign from your
employment at any time on giving to the Company 15 days prior written notice or pay
salary in lieu thereof. However, the Company may at its sole discretion waive all or part
of the notice or allow the employee to make payment to the Company in lieu of all or
part of the notice period or refuse to waive the notice period. In the event of promotion
or role change for any reason, the Company's prevailing notice period policy as
applicable to such new designation or role will apply.
b) Termination by the Company: Notwithstanding anything to the contrary contained
herein, the Company is entitled to terminate your employment by giving you 15-day
written notice or payment in lieu thereof. The Company would have the flexibility to
either allow you to leave employment prior to the completion of any notice period upon
payment of salary in lieu of such unserved notice period. Notwithstanding the above,
the Company is entitled to terminate your employment immediately, without any prior
notice or salary in lieu thereof in cases of gross misconduct, breach of company policies
or where background and reference checks not found to be favorable.
11. Retirement: Your retirement will typically commence upon you reaching sixty (60) years
of age, or on the preceding working day if that date falls on a non-working day.
12. Grievance redressal mechanism: If at any point of time during your working tenure and
even after you part your way with the Company, if you have any issue or difficulties with
respect to salary matter, any policy of the Company, if anyone misbehaves with you or face
difficulty in dealing with your colleagues and seniors you shall seek help of the Company
for redressal of grievances by following and approaching the following officials given in
below matrix:
Levels of escalation Point of Contact
Level 1 connect@[Link] /
employeesupport@[Link]
You hereby agree that you shall not write, comment or share any comments on any social
media, websites or any internet-based websites, application or platform in any case and
shall seek to sort out your grievances by contacting the officials mentioned in the above
escalation matrix only.
Breach and non-compliance of this clause shall be treated as gross misconduct and
consequently your employment may be terminated, in the sole discretion of the Company,
without notice with immediate effect.
13. Alternate Employment: During the period of service with the organization, you will not
accept or perform any part-time or other work for remuneration without obtaining prior
sanction from the organization.
14. Dual Employment: As per our company’ policy & code of conduct, we do not allow any
direct or indirect association with any entity or establishment (commercial or Non-
commercial nature) in whatsoever capacity.
15. Indemnity: You hereby agree to indemnify and keep indemnified and hold the Company
harmless from and against any loss, claim, damage, costs, taxes, duties, additions,
penalties, interest thereon or expenses of any kind, including reasonable attorney’s fees,
incurred/sustained, or caused to be incurred/sustained by the Company on account of:
Any act or omission by you:
a) Contravention of any of the terms, conditions, covenants of this letter or the
Employee Non-Disclosure Agreement.
b) Any representation or warranty or information furnished to the Company found to
be false.
c) Violation/non-compliance with any laws/rules/regulations while rendering the
services; and/or
d) Failure to adhere to the standards/specifications/policies of the Company.
e) Indulgence in any immoral, unethical and criminal activities.
16. Non-Solicitation or No-Poach of Employees: You agree that you shall not either directly
or indirectly solicit, induce, recruit or encourage any of NetAmbit’s including its affiliate
companies employees to leave their employment, or take away such employees, or
attempt to solicit, induce, recruit, encourage or take away employees of NetAmbit or the
Client, either for yourself or for any other person or entity during the tenure of
employment with NetAmbit and for a period of one (1) years immediately following the
termination of the employee relationship with NetAmbit for any reason whatsoever,
whether with or without cause. You hereby agree to fully indemnify and hold NetAmbit
harmless from any loss claim, damage, costs or expense of any kind whatsoever by virtue
of breach of this non-solicitation or no-poach of employee’s clause by you.
17. Sexual Harassment Prevention Committee & Training: We have a formal committee for
prevention of sexual harassment at workplace guided by our internal policy and governed
by The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013 (hereinafter “Act”). We provide training at regular intervals as per the provisions
of the Act. You are hereby advised to kindly make a note of the contact details of the
committee members and report immediately to posh@[Link] , in case you have any
complaint of Sexual Harassment as defined in the Act.
18. Relative Declaration: The Company does not promote and/or hire relatives in the
Company or with the Client where you are being deputed. Members of a Personnel’s
immediate family (defined as parents, children, spouse, siblings, grandparents, and those
same relationships engendered by in-laws, adoptions and step - families) and members of
a Personnel’s household shall not be considered for employment as a regular practice.
However, such cases can be considered on a case-to-case basis subject to certain conditions
as imposed by the Company. In case, the facts are found to be concealed, your employment
shall be liable for termination and/or such other actions as deemed fit in the Company’s
sole discretion.
19. Notice Period Deductions: In case you fail to serve the notice period as stipulated under
the Agreement, you will be liable to pay the amount (equivalent to your salary) of such
notice period. The Company shall be entitled to deduct any such amounts from your
salary and/or any pending full and final settlement.
The detailed letter of appointment outlining all the terms and conditions of the company
will be issued to you within 30 days of your joining the organization.
We look forward to welcoming you on board and look forward to a long and mutually
rewarding relationship.
You are requested to provide your acceptance to this offer letter within 24 hours from
the receipt of this letter, in case we don’t receive the confirmation and you joined the
company/ started providing your services then it shall be deemed that you have agreed,
acknowledged and accepted explicitly all the terms mentioned in this offer Letter.
20. Arbitration: In the event of a dispute, the company will issue a notice to you & you shall be
liable to reply to such notice by the company within 15 days of issuance of such notice. In
the event of failure by you to reply to this notice within the stipulated time period as above
said, the dispute shall be referred to an arbitrator who will be solely appointed by the
company. The decision of the arbitrator so appointed shall be final & binding upon you. The
letter of appointment is subject to exclusive jurisdiction of Delhi & the rules of Arbitration
& Conciliation Act of 1996 will be applicable.
21. Change of Address: Any change in your status of residential address should be notified in
writing to the company.
22. Deemed acceptance of terms of Appointment: Please note that if you fail to provide
acceptance of terms and conditions of appointment, as required hereinabove, within 24
hours from the receipt of the appointment letter then it shall be deemed that you have
unconditionally acknowledged, accepted and agreed to be bound by all the terms and
conditions mentioned in this appointment letter.
Overall
This Agreement and all your rights and obligations hereunder are personal to you and may not
be transferred or assigned by you at any time. The Company may assign its rights under this
agreement to any entity that assumes the Company's obligations hereunder in connection with
any sale or transfer of all or a substantial portion of the Company's assets to such entity.
No provision of this Agreement shall be modified, waived or discharged unless the
modification, waiver or discharge is agreed to in writing and signed by you and by an authorized
officer of the Company (other than you). Notwithstanding the above, in the event of a change
in role, grades, promotions or other changes made in your employment and informed to you by
the authorized officer of the Company, the applicable policies to such change in role, grades,
promotion or other employment changes (for e.g. Notice Policy, Reimbursement Policy) shall
apply to you from the effective date of such change. To that extent, such change in applicable
policies will be considered an amendment of this Agreement and your continued employment
will be constituted as agreement to applicable policies from time to time.
No waiver by either party of any breach of, or of compliance with, any condition or provision of
this Agreement by the other party shall be considered a waiver of any other condition or
provision or of the same condition or provision at another time.
To confirm your acceptance of these terms and conditions, please sign the copy of this letter.
We welcome you to NetAmbit ValueFirst Services Private Limited and look forward to
having a long and mutually beneficial association with you.
For NetAmbit ValueFirst Services Private Limited
Authorized Signatory
The terms of your employment contract detailed above are strictly confidential and should be
treated as privileged information between yourself and the Company. You are expected to
maintain such information appropriately.
I have read and understood the above terms and conditions of the appointment letter and
hereby give my acceptance of the same.
Signature
ANNEXURE I: Your Rewards Summary
Name: Laxman Pandit
Your rewards are linked to your daily productivity and are subject to meeting a minimum
number of touchpoints a day and being further explained in Annexure II. The following is an
indicative salary structure subject to the meeting of your productivity goals:
Compensation Structure Monthly Annual
Basic Salary1 14066 168792
Consistency Bonus2 1442 17304
House Rent Allowance 0 0
Statutory Bonus 1292 15504
Indicative Gross Salary (A) 16800 201600
Employee Contribution (B)
Provident Fund 1800 21600
ESIC 126 1512
Professional Tax 0 0
NTH (C = A - B) 14874 178488
Employer Contribution (D)
Provident Fund3 1800 21600
PF Admin 75 900
EDLI 75 900
Insurance 216 2592
ESIC 546 6552
Cost to Company4 (E = A + D) 19512 234144
1
This is indicative and calculated daily based on delivery of touchpoints for an ordinary day and
is paid on a monthly basis.
2
Subject to days with minimum expected delivery, paid out on a monthly basis.
3
Employer's Contribution to Provident Fund (maximum 12% on 1,80,000/- of Basic Salary and
Consistency Bonus per annum)
4
Cost to the Company is only indicative of the possible expenses that the company may incur
and is not entitlement.
Note:
● Base Pay against earned leaves, weekly offs or public holidays will be equivalent to the
payout against an ordinary day of work.
● Gratuity is payable on separation as per the prevailing law.
● Any tax liability arising out of these allowances, perquisites, and reimbursements will be
borne by the employee.
Annexure II: Terms and Conditions for your Compensation
Your compensation for this role is based on the quantity and quality of completed deliverables
assigned to you. Activities must adhere to the standards and guidelines established and
communicated by the Client on a periodic basis. This compensation model aims to incentivize
efficient and effective execution of your responsibilities, ensuring alignment with Client’s
business objectives.
Your compensation will be calculated based on the conditions detailed below:
1. All activities carried out by you shall entitle you to certain points which will be shared/
published as part of the monthly cascade; your compensation will be calculated against
each day’s total touchpoints achieved by you; this will be consolidated for a month and
paid to you on a monthly basis.
2. 20 touchpoints are considered as one Ordinary Day of work.
3. Consistency Bonus rewards the regularity of touchpoints delivered
4. List of desired activities (indicative and not exhaustive) is mentioned below. The points
for each of these input activity and output will be shared with you as part of the monthly
cascade:
a. Gate Meeting: During this meeting, you will be allotted target activities and raw
material (QR, devices, collateral, etc.) for accomplishing the targeted activities.
b. Device Deployment: Deployment of a device at an allocated merchant within
your sector that meets the quality criteria.
c. Merchant visit for issue resolution and device servicing
d. Reactivation of inactive merchant base and reverse pick-up of devices from
merchants as applicable
e. Merchant’s loan application process completion
f. New Merchant Acquisition
g. Merchant’s Know Your Customer (KYC) process
h. Driving adoption of Client’s payment solutions and products viz QR, Devices,
Business application, etc.
i. Cross-selling of any other product / service as may be notified from time to time
5. Quality parameters: Every activity must consistently meet the quality parameters,
specifications, and report protocols as established and communicated by the Client.
Failure to meet these standards may result in the activity not being approved for award of
points.
6. Device deductions: In the event that a Device (provided for the purpose of carrying out
their duties) is lost, destroyed, or damaged due to the proved negligence of the Employee,
the Company reserve its right to recover the cost of such Device, up to its Fair Market Value
at the time of loss, from the Employee's salary or any other amounts due to the Employee.
In the event of: (a) Deployment of Devices at merchants that do not meet the Client’s
stipulated quality standards; (b) Deployment of Devices at merchants specifically classified
as "undesired" by the Client’s policy; or (c) Any other proven act of non-compliance, gross
negligence, or unfair practice by the Employee related to the deployment and use of
Client’s assets resulting in a quantifiable loss to the Client’s; the Company reserves the
right to recover a reasonable and quantifiable amount representing the cost of the Device
and the associated operational loss (e.g., deployment effort).
7. Performance Expectations: The expected number of approved activities per day will be
prescribed and communicated to you, potentially as part of monthly/ quarterly targets or
explicitly stated in separate communication. These are subject to periodic review and
adjustment by the client based on business needs.
8. Incentives: You may be eligible for Monthly Incentive based on exceeding established
targets, demonstrating significant quality improvements, or other performance criteria as
determined by Client. Such Monthly Incentive programs, including the criteria and payout
frequency (e.g., monthly/ quarterly), will be communicated separately.
9. Payment Terms: Payments will be made on a monthly basis reflecting the total number of
approved and validated activities during the respective pay period. The compensation will
be proportionate to the approved activities completed and points earned. Your weekly
offs, duly approved sick/paid leave and any approved training / business events will be
considered for payment as though you had achieved the conditions for an ordinary day of
work. You will be provided with your detailed activity report for the month through your
reporting manager, clearly outlining the number of approved stores visited, approved gate
meetings & other approved activities.
10. Review and Adjustments: The activities may be reviewed and adjusted periodically based
on business needs, market conditions, or other factors. Any changes will be communicated
to you in advance.
