India Formulations
Incentive Plan - 2122
FSOs / ABEs / TBMs / TMs/ABMs
April 2021
Incentive Plan
FSO SLAB 1 SLAB 2 SLAB 3 SLAB 4 SLAB 5 SLAB 6
Rupee wise Achievement (Qtr & Annual) 57000 72000 85500 99500 113750 129500
Brand wise Achievement (Qtr & Annual)
Min. 2 Brand & Max 4 brand 31850 38150 47350 54550 62500 72250
On Monthly Ach * (Per month) 1779 2093 2454 2809 3100 3441
On Mid Month Ach ! (Per month) 1763 2040 2338 2633 2900 3218
Consistency # (On Month to Month Ach) as per table enclosed 18150 21450 24750 28050 32550 37050
Total Annual Value 149500 181200 215100 247400 280800 318700
*If achieved 100% on Month target
! If achieved of a specific %(DH/BH to convey for respective div.) of Month target on or before 20th of the said month.
# One level skip in consistency. Illustration provided in subsequent slides
Slab Guidelines –
- Minimum 15% & Maximum 25% in slab 1 to 5 (for divisions having territories above 5 lacs YPM)
Slab 6 is applicable to Territories having YPM 10 Lacs & Above
- Minimum 20% & Maximum 30% in slab 1 to 4
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Consistency Slab Table FSO/ABE / TBM / TM / ABM
Consecutive
Slab 1 Slab 2 Slab 3 Slab 4 Slab 5 Slab 6
Month
1
2 400 450 500 550 700 850
3 650 750 850 950 1150 1350
4 900 1050 1200 1350 1600 1850
5 1150 1350 1550 1750 2050 2350
6 1400 1650 1900 2150 2500 2850
7 1650 1950 2250 2550 2950 3350
8 1900 2250 2600 2950 3400 3850
9 2150 2550 2950 3350 3850 4350
10 2400 2850 3300 3750 4300 4850
11 2650 3150 3650 4150 4750 5350
12 2900 3450 4000 4550 5300 6050
Total 18150 21450 24750 28050 32550 37050
Consistency is defined as month on month achievement of target without carry forward benefit.
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Illustration of one-skip Consistency –Slab 3
Sales Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Total
Budget (Lacs) 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 36.00
Primary (Lacs) 3.00 3.00 3.00 3.00 3.00 3.00 2.00 4.00 3.00 3.00 3.00 3.00 36.00
% Achievement 100% 100% 100% 100% 100% 100% 67% 133% 100% 100% 100% 100% 100%
YTD 100% 100% 100% 100% 100% 100% 95% 100% 100% 100% 100% 100% 100%
Achievement
Consistency - 500 850 1200 1550 1900 - 1900 2250 2600 2950 3300 19000
In case of non achievement of target in any single month for the entire year, an FSO / ABE / TBM / TM will
continue to get the benefit of consistency, provided that he/she achieves his/her monthly & YTD budget in the
next month. Skip level benefit is applicable only one-time in a year
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Special Incentive
&
Group Incentive
Applicable to All Divisions
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Special Incentive - Field
YPM Slab >100-109.99% >=110-114.99% >=115% - 119.99% >=120%
Upto Rs. 1.75 lacs 4%* 7%** Rs. 30000/- 10%***
Rs. 1.76 to 3.00 lacs 4%* 7%** Rs. 40000/- 10%***
Rs. 3.01 to 5.00 lacs 4%* 7%** Rs. 70000/- 10%***
> Rs. 5 lacs 4%* 7%** Rs. 80000/- 10%***
*Applicable on incremental sales above 100%
**Applicable on incremental sales above 109.99%
***Applicable on incremental sales above 119.99%
Terms & Conditions for FSO/ABE/TBM
Actual sales calculated as per incentive circular not MSA.
Have achieved minimum 90% of FY-2223 Q1 sales target.
Should have served the organization at least for 75 days
Any in between promotion / transfer Ach will be calculated on weighted average basis.
Any tax liabilities on this has to be borne by employees.
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Divisional Incentive - ision
Cash Incentive of Rs. 30000/- per employee
Eligibility Norms
Division has to achieve 105% of both Sales & EBIDTA (After Allocation)
Division to achieve minimum 90% of FY-2223 Q1 target.
Primary/ Secondary gap should not be >10% (Actual Primary to Actual Secondary).
Been a part of the organization for at least 9 months during the year.
FSO/ABE / TBM / TM / ABM has to achieve minimum 90% for the FY -2122.
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Terms & Conditions (1 of 4)
Any change in budget, revised slab will be applicable thereafter for Monthly, Quarterly & Annual
Incentive. If the territory slab (incentive scheme slab) remain unchanged, even after budget reduction
(if any), incentive will be paid on pro-rata basis in similar proportion of budget reduction (upper cap of
30% reduction for all slabs).
Payment of Incentive will be made to the eligible Employee only if he exist in the Pay Roll at the time of
disbursement for all Incentive declared during the financial year.
Payable if employee in payroll of the company by 15th of 1st month of Quarter for Quarter Incentive
and by 7th of the Month for Monthly incentive.
Mid Month Incentive is applicable only if the Employee Achieves the Month Target.
All Primary & Secondary sales will be computed without Bonus Offers/ Free Issues.
Goods once sold shall not be taken back. In the event of any unforeseen circumstances where the
Company is forced to take back the goods the same stock will be reduced from your Primary Sales
Achievements.
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Terms & Conditions (2 of 4)
All credit notes will be deducted once except following (This is applicable for Quarter & Annual
Incentive & also where ever it is specifically mentioned in the Circular viz; Product Incentive etc.)
Expiry credit notes - If it is more than 1.50% of sales then two times of the amount more than 1.50%.
Sales Return will be deducted Twice excluding returns due to wrong billing, breakage, quality issues and
product withdrawal.
Above Condition is not applicable for Monthly Incentive.
The Company is not responsible for the shortage /deletion or withdrawal of the products, that may
occur from time to time for statutory reasons or otherwise during any Incentive period viz; Month,
Quarter, Annual etc. and hence no claim will be entertained for any sales incentive for the products
that would / could have been sold but were not available.
Quarterly sales incentive will be payable within 110 days after the completion of the Quarterly Budget
and Annual Sales Incentive payable within 110 days after the completion of the Annual Budget. Monthly
Incentive will be paid within 60 days after completion of the Month.
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Terms & Conditions (3 of 4)
In the event of any wrong credit or sales incentive paid or subsequently any goods returned pertaining
to the sales incentive period the Company has the liberty to recover the sales incentive amount already
paid to the employee from their Salary/T.E. etc.
Please note that, the incentive payment is totally at the discretion of the Management’s decision
without any prejudice. Management reserves the right to change the Incentive Circular when required.
All the incentive will be calculated on the basis of Performance of Territory, District, Zone & Region.
Annual Incentive for Promotion & Transfer cases will be calculated on Weightage Average.
This incentive payment to colleagues is linked to productivity and profitability of the organization and
the same will be computed against any statutory payments
Tax liability as applicable will be borne by the employee
Should there be a Sub-division of your Sales Territory or any addition to your ST/PST, your Annual &
Quarter wise Budget may be revised accordingly.
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Terms & Conditions (4 of 4)
Submission of monthly stock and sales statement to AO will be essential for disbursement of all
Incentive including Brand / Marketing Incentive. Management may reserve the right to withhold
incentive on non receipt of stock & sales statement.
For qualification of Qtr1, Qtr2, Qtr3, Qtr4 & Annual Incentive - FSO/ABE/TBM/TM should achieve 90% in
subsequent Qtr for Quarter/Annual Incentive under consideration.
Any grievances / queries related to incentive should be received within 90 days of disbursement of the
said incentive. Any grievances / queries received beyond 90 days will not be entertained
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Brand / Marketing incentive Guidelines
Only One Brand Incentive under Power Brand or Growth Driver can be declared by a division
(excluding new product) in a Financial Year.
Signed Hard copy of the Brand Incentive Circular to be submitted before 1 week of declaration to
Finance & Sales Admin.
Brand Incentive should not be rolled over to next financial year.
Tax liability as applicable will be borne by the employee.
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Applicability
• Glenmark • Majesta • Healtheon • Nepal
• Gracewell • Respicare • Zoltan
• Gracewell 1 • Shwas (1 & 2) • Zoltan Max
• Gracewell Splty • Zoltan Care
• Cosmocare • Glenmark CV
• Dermax • Glenmark
• Skinnora SynerG
• Milieus
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Thank you
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