October 13, 2022
Mr. Sourav Sen,
Near Durga Mandir,114, Adarsh Nagar,Hirapur,
Dhanbad, Jharkhand-826001
9940456209, saurav281010@[Link]
Offer of Employment.
Dear Mr. Sourav Sen,
With reference to your application and subsequent interviews with us, it gives us immense pleasure to offer
you a promising career with GA Capital Management Pvt. Ltd. An appointment letter along with the terms
and conditions of employment will be issued to you on joining. The broad terms and conditions of your
employment will be as follows:
You shall be designated as “Deputy Branch Manager”. And your appointment shall commence on your
joining GA Capital Management Pvt. Ltd. on or before 17th October 2022, by 9:00 AM.,
This offer is subject to your joining the Company on the date specified above. Please note, in the event of you
not joining the company on or before the date mentioned above, you should keep the person concerned in
the organization informed in writing on your revised date of joining before the due date of joining, otherwise
this offer will be deemed revoked.
You are governed by the following Rules and Regulations of the company, which are in force or may come
into force from time to time. Please read through this letter carefully and indicate your acceptance of the
offer by signing and returning a copy of this letter.
1. Compensation and Reward System: GA Capital Management Pvt. Ltd. shall pay during the
continuance of your employment hereunder an Annual Cost to Company (CTC) of INR 7,50,000/-
(Rupees Seven Lakh Fifty Thousand Only). The CTC figure shall include all reimbursements,
allowances, PF, Gratuity, Leave Pay and any forthcoming emoluments which are in force. Compensation is
confidential between you and the company. You are required to maintain the confidentiality and not to
disclose your compensation package to others. CTC breakup is enclosed in Annexure - A.
2. Location: Your primary base location will be Chennai, although we may direct you to work at different
locations from time to time.
3. Company Policy: You agree that the Employer’s policies, as amended or replaced from time to time,
shall be binding upon you but shall not part of employment contract.
4. Probationary Period: You will be on probation for a period of six (6) months from the date of joining GA
Capital Management Pvt. Ltd. During this period, your performance on the job and your suitability for the
role will be evaluated. Subject to satisfactory scores on an assessment of your performance and
suitability, as well as recommendation for confirmation by your Reporting Deputy General Manager, your
service at GA Capital Management Pvt. Ltd. will be confirmed. In case of unsatisfactory performance or
due to any other factors, your probation period may be extended or your service with GA Capital
Management Pvt. Ltd. may be terminated. This will be solely at the discretion of the Management. You will
not be deemed to be confirmed on completion of 6 months unless otherwise communicated to you by the
company in writing.
5. Termination: During the probation period, your services are liable to be terminated by the company with
or without assigning any reason / giving any notice period / pay towards the shortfall of notice period. Post
successful completion of probation, either party may terminate the employment agreement by providing
a written notice of 1 (One) month to the other party. In addition, the Company shall be entitled to
terminate your employment at any time without notice or compensation in the following event(s):
• Willful violation of the Company rules.
• On the grounds of non-performance, insubordination, indiscipline, misconduct, fraud, theft, attitude.
• Unauthorized absence from duty.
• Imprisonment or censure by a court of law.
This letter of offer contains the proposed Terms and Conditions of your employment with the Employer and is
subject to preparation and execution of a formal contract of employment.
For GA Capital Management Pvt. Ltd.,
R. Samson Peters,
Head - HR
Annexure A
Compensation Structure
Name Sourav Sen Designation Deputy Branch Manager
Company GA Capital Management Pvt. City/Town Chennai
Ltd.
Department Sales Retail Distribution Date of Joining October 17, 2022
Band 4 Sub Band 4B
Salary Breakup:
Amount (in INR per Amount (in INR
Particulars
month) per annum)
Basic Salary 23,486.13 2,81,833.52
House Rent Allowance 11,743.06 140,916.76
Special Allowance 23,486.13 2,81,833.52
Gross Salary (Total A) 58,715.32 7,04,583.81
COMPANY's CONTRIBUTION
Employer PF 1,800 21,600
Gratuity 1,129.68 13,556.19
Total (B) 2,929.68 35,156.19
Group Health Insurance* 695 8,340
Group Accidental Insurance** 160 1920
Total (C) 855 10,260
TOTAL COST TO THE COMPANY INR 62,500 7,50,000
Please Note the following:
a. Applicable Taxes will be deducted as per the prevailing Act
b. Gratuity entitlement will be in accordance with the provisions of the Gratuity Act
c. You will also be a part of other benefits as and when company enrolls into such schemes, statutory
obligations etc. And the proportionate amount should solely be borne by you and the same will be
adjusted from the compensation given above.
d. *Group Health Insurance of Rs. 3,00,000/- is covered with a minimum deduction of Rs. 695/-
premium per month. The premium value may change year on year during renewal of the policy.
e. ** Accidental Insurance of Rs. 50,00,000/- is covered with a minimum deduction of Rs. 160/-
premium per month. The premium value may change year on year during renewal of the policy.
f. You are expected to not to disclose / discuss your compensation with any other individuals other
than with the designated authorities. Any such breach of agreement will lead to appropriate disciplinary
action.
Authorized Signatory Accepted
R. Samson Peters Signature
Head - HR Sourav Sen
Acceptance:
I, Sourav Sen, accept the above offer and agree to the proposed terms of employment and request
that the Employer prepare a formal contract of employment for execution.
Signature:
Date: