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Internship Offer at Recipto Pvt Ltd

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14 views5 pages

Internship Offer at Recipto Pvt Ltd

Uploaded by

Sita 222
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Date: June 10, 2024

To,
M DeekshiTha

We are delighted to extend the position of Founder’s office - Intern at Recipto Private

Ltd, we look forward to a mutually fulfilling association. We are very excited about the

potential that you bring to the company and hope that you will find excellent

opportunities to learn, contribute and grow. Please find enclosed your employment

letter and other details.

If you have any questions, please do not hesitate to contact us.

Sincerely,
Director,
Sri Ram Reddy Ravuri
Recipto Private
Limited.
Dear M Deekshitha,

We are pleased to extend the position of Founder’s office - Intern to you at Recipto Pvt Ltd

(“Company”). Total cost to company for the next 3 months will be 16000 per month (50%

salary +50% ESOP’s). It is very important that you always keep the terms of this employment

letter highly confidential.

Appointment:

a) Your date of appointment is effective on or before 10th of June, 2024.


b) This offer is made on the clear understanding that your employment is on whole time
basis and that you will not undertake any other part time/ full–time work, or Freelancing
without the prior written consent of the company.
c) You will be on probation for a period of 3 months from the date of your appointment.
You will continue to be on probation until the Company confirms your employment in
writing upon such terms as are communicated to you. Your confirmation will be based on
the evaluation of your performance, mutual compatibility, and your potential.

d)You agree to abide by the company's rules, regulations, and policies (“Company
Policies”) as may be in effect from time to time with respect to your function, grade, or
location where you work in.
I. Benefits:

a) During Internship you are not eligible for leaves but eligible for holidays as per the
company policy.

II. Confidentiality, IP Assignment, Non-Solicit and Non-Disclosure:

In consideration of the opportunities, training and access to new techniques and know-
how that will be made available to you, you will be required to execute an Employee
Confidentiality, IP Assignment, Non-Solicit and Non-Disclosure Agreement (“Supplemental
Agreement”) primarily to address working standards and business interests. The said
Supplemental Agreement shall be considered as part of this Employment Letter and the
Company shall have the right to terminate your employment in accordance with the terms
hereof in case of breach of any material terms of the said Supplemental Agreement.

III. Duties and Responsibilities:

You shall, during your employment term:


a) observe and comply with the Company Policies as may be varied from time to time;
b) undertake to perform your duties in a proper and efficient manner with all due care,
skill and diligence and comply with all lawful orders and instructions given by the
Company.
c) use your best endeavors to promote the interests of the Company,
d) promptly disclose to the Company each business opportunity of a type which, based
upon its prospects and relationship to the business, the Company might reasonably
consider pursuing. In the event of termination of your employment, the Company shall have
the exclusive right to participate in or undertake any such opportunity on its own behalf,
without any involvement by or compensation to you.

IV. Termination:

Further, the Company may at its discretion relieve you from such date as it may deem fit
even prior to the expiry of the notice period and is entitled to pay salary only for the days
you were in service. However, if the Company desires that you continue your employment
during the notice period, you will do so.
If you are absent for a continuous period of 3 (three) working days without obtaining
your manager's approval, the Company may construe this as an act of abandonment and
the same will be deemed as your notice to terminate this employment.
Notwithstanding anything stated in this Employment Letter, the Company shall also be
entitled to terminate your employment, if you commit an act of, or engage in action or
inaction constituting:
a) a breach of any material term of this Employment Letter or any other agreement
between you and the Company (including the Supplemental Agreement); or
b) gross negligence, fraud, dishonesty, embezzlement, theft, or the commission of a crime
involving moral turpitude (whether involving the Company or otherwise); or
c) willful, substantial, and continuing neglect or inattention by you of the material duties of
your employment or misconduct or gross negligence by you in connection with the
performance of such duties.
Then, and in any or each such instance, the Company may, immediately upon notice to you,
terminate your employment hereunder and, in the event of any such termination, you shall
no longer have any right to any benefits (including future payments of salary) which would
otherwise have accrued after such termination.
If in the sole opinion of the Company, you are unable to carry out the responsibilities and
functions of the position held by you by reason of any physical or mental impairment for
more than 30 (thirty) days in any 3 (twelve) month period, then, the Company may
terminate your employment by providing you minimum notice of 30 (thirty) days in
relation to such termination.

V. Validity of the employment letter:


We would appreciate your acknowledging the receipt of this Employment Letter and
acceptance of this offer within 7 days from the date mentioned in this Employment Letter,
failing which this offer, and Employment Letter will stand withdrawn.
Acceptance:

I M Deekshitha ,have read, understood, and agree to accept the employment on the terms and
conditions mentioned in this appointment letter and the annexes.

Name: Signature:
Date: Date of Signature:

Common questions

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In the event of employment termination, the company reserves the right to pursue disclosed business opportunities without M Deekshitha's involvement or compensation, safeguarding its interests and minimizing potential risks associated with the separation .

Recipto Pvt Ltd ensures confidentiality and intellectual property protection by requiring M Deekshitha to sign an Employee Confidentiality, IP Assignment, Non-Solicit, and Non-Disclosure Agreement. This agreement is part of the employment terms, addressing working standards and business interests, and allows the company to terminate employment for breach of any material terms .

The policy requiring manager approval for absence underscores the importance of accountability and communication in maintaining a professional relationship. Unauthorized absence could lead to perceptions of irresponsibility, affecting trust and the working relationship with her manager, and could be seen as an act of abandonment leading to termination .

M Deekshitha's performance and compatibility are evaluated based on her ability to adhere to company policies, perform her duties efficiently, and promote company interests. Confirmation of employment depends on these evaluations, allowing Recipto Pvt Ltd to make informed decisions on her employment status .

The exclusion of leave benefits means that interns like M Deekshitha must manage their personal commitments around work schedules, which could impact work-life balance. The lack of flexibility might lead to increased stress and affect productivity and job satisfaction if not managed carefully by both the intern and the company .

Failing to maintain confidentiality of the terms in the employment letter could result in legal actions for breach of contractual obligations and the loss of trust between M Deekshitha and Recipto Pvt Ltd. Ethically, it could undermine the company's strategies and competitive advantage, potentially leading to internal and external reputational damage .

The probation period allows both the company and M Deekshitha to assess the suitability of the role and cultural fit. It provides a structured way to evaluate performance and compatibility. However, the lack of job security during this period could be a limitation, possibly leading to stress or uncertainty for the intern .

M Deekshitha's employment can be terminated without further compensation or benefits if she breaches any material term of the employment letter or the Supplemental Agreement, engages in gross negligence, fraud, or other misconduct, or if there is willful neglect of duties. Additionally, unauthorized absence for three consecutive working days can also lead to termination .

M Deekshitha is expected to observe and comply with company policies, perform duties with due care, skill, and diligence, promote the interests of Recipto Pvt Ltd, and disclose any business opportunity that the company might consider pursuing. These responsibilities align with the company's interests by ensuring that interns contribute actively to the company's success and adhere to its operational standards .

M Deekshitha is employed on a whole time basis and cannot engage in part-time, full-time work, or freelancing without prior written consent from Recipto Pvt Ltd. Failure to obtain consent could lead to disciplinary action or termination, as it would be a breach of the employment agreement that emphasizes full dedication to the company .

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