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Offer Letter

The document is an offer letter from VGL Group offering Mukul Mehta the position of MDM ASSOCIATE. The yearly CTC being offered is Rs. 300,000. The offer letter provides details of compensation including basic salary, HRA, allowances, provident fund contributions, gratuity and other benefits. Mukul is asked to join on October 17, 2022 or the offer will be withdrawn and a detailed appointment letter will be issued upon joining.

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1K views3 pages

Offer Letter

The document is an offer letter from VGL Group offering Mukul Mehta the position of MDM ASSOCIATE. The yearly CTC being offered is Rs. 300,000. The offer letter provides details of compensation including basic salary, HRA, allowances, provident fund contributions, gratuity and other benefits. Mukul is asked to join on October 17, 2022 or the offer will be withdrawn and a detailed appointment letter will be issued upon joining.

Uploaded by

rudra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Offer Letter: An official offer letter detailing the job designation, salary, and welcome note to the new employee at VGL Group.
  • Compensation Details: Detailed breakdown of the compensation package including salary components and gross pay calculations.
  • Terms and Other Details: Terms of employment including probation policy, appraisal, leaves, and insurance-related details.

 

October 17, 2022


Mukul Mehta
4, Ganpati Vihar, Near Mewar Vidhya Mandir
Udaipur 
Rajasthan   
IN
313001

Subject: Offer Letter

Dear Mukul

Congratulations!

You will be joining one of the fastest growing companies in one of the most dynamic
industries in India.

We are pleased to offer the designation of MDM ASSOCIATE with VGL Group.

Your yearly CTC will be Rs. 300000 /-

You will be entitled to other benefits as per the company’s policies in force.

We are looking forward to you joining us on October 17, 2022, failing which this offer will
automatically stand withdrawn.

A detailed letter of appointment will be issued to you at the time of your joining the
organization.

Welcome to the VGL Family!

For Vaibhav Global Limited

Hitender Gautam

Talent Acquisition Head

Page 1 of 3
 

                                                   Annexure : Compensation Details


Name Mukul Mehta
Designation MDM ASSOCIATE
Department CORPIT (CORPIT)
Salary Component INR per Month INR per Annum
Basic Salary 50 % of CTC ₹12,500.00 ₹150,000.00
HRA @ 40 % of Basic ₹5,000.00 ₹60,000.00
Uniform Allowance  (Tax Free Component) ₹1,500.00 ₹18,000.00
Other Allowance (Balancing Component) ₹2,231.00 ₹26,771.00
Pay Slip Gross (A) ₹21,231.00 ₹254,771.00
Provident Fund @ 12% of Basic Salary (Employer contribution) ₹1,800.00 ₹21,600.00
Statutory Bonus* ₹1,400.00 ₹16,800.00
Gratuity (4.17% of Basic Salary) ₹601.00 ₹7,212.00
Sum (B) ₹3,769.00 ₹45,228.00
CTC (A+B) ₹25,000.00 ₹300,000.00
Provident Fund @ 12% of Basic Salary (Employee contribution) ₹1,800.00 ₹21,600.00
ESIC - Employee Conribution (@ 1.75% of (Gross-Uniform Allowance) ₹148.00 ₹1,776.00
Sum (C) ₹1,916.00 ₹22,992.00
Net Takehome Salary before Tax (A-C) ₹19,315.00 ₹231,780.00

Terms & Other Benefits

Probation Period:- 6 months since date of joining employee will be on Probation. Your services will be
automatically confirmed on expiry of the probation period unless specifically informed about an extended period
of probation.

Gratuity is applicable as per Gratuity Act, 1972


Statutory Bonus as per Payment of Bonus Act*
ESIC Applicable

Performance Appraisal:- Employee who will Join after 15th Dec will be appraised in next fiscal year and will be
paid arrears from his/ her date of completion of 1 year.

Working Days:-
6 Days

Leaves/ Holidays:-

i. 10 National/ Festival Paid Holidays


ii. 15 Privilege Leave (PL). Can be accumulated up to maximum 30. PL are Non-Encashable.
iii. 7 Casual Leaves. Unavailed leaves at the end of the calendar year will lapse.

Accidental Insurance:- In case of Death during official duty insured Employee's family will get 24 times of his
Gross salary or up to Rs. 5 Lac Max.

Insurance-Linked Gratuity:- Gratuity is linked to LIC (Life Insurance Cover). In case of death of an employee,

Page 2 of 3
payable insurance will be the amount equivalent to as it might have come to have the employee lived till
retirement age of 58.

EDLI (Employee Deposit Linked Insurance) from LIC:- On death of an employee amount payable through EDLI
is up to Rs. 6,00,000/-

Tax:- All the taxes will be borne by the individual and not by the company.
 

Hitender Gautam

Talent Acquisition Head

Page 3 of 3

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