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Visas is quite excited and has plans to work in India for the next 8 years at least so that his child’s education can be taken care of. Visas is a highly competent and high performing employee. HIS wife was working In an advertising firm while they were abroad as a copy writer. She quit the job while they got transferred and was sure to get a Job in Bangor. Visas is a likeable person and is popular among colleagues. He is a good team player but keeps a slight distance from the group especially during social binges after the corporate meetings.
He is always well reseed, wears branded cloths, expensive ties, watches and other fashion accessories, and goes for regular work outs. Office timings are from 9. 00 AM to 6,00 PM with a 30-minute lunch break. He always arrives at the office on time. He leaves the office at about 7. 00 PM but stays back after office hours whenever the Job demands. The Company has a clear HER policy which has two components- salary and perks. Salary comprises of the monetary compensation, such as monthly fixed salary, incentives, bonuses etc. The salary is based on performance and designation.
The errs are based on the grade and are specific to each country based on living expenses. An Engineer MBA joins at the E grade, gets promoted to E grade in 4 to 5 years, E grade in the next 4 to 5 years, E grade in the next 3 to 5 years and E grade In the next 3 to 5 years and thereafter to E In 3 to 4 years based on outstanding or excellent performance. After E it is CLC, CO and CO grades where they are on corporate executive level. After one year of training, the Mambas will become Marketing Managers, In 3-4 years they can become senior Marketing managers, Day General
Managers in another 3-4 years, General Manager in the next 35 years, Associate UP in another 3-5 years, and UP in another 2 TTT years. The key elements in the perks for some of the grades are given below In table 1 All these policies are for India-based employees. Perks for employees placed in overseas assignment will be based on each country cost of living and statutory rules. An employee, on being transferred, will have to surrender the perks In respective countries and can avail of perks in the new countries afresh. For example a new vehicle allowance is given even if he had bought a car less than 2 years ago.
For example for City 1. 5 V MET Sunroof: RSI. ( http:// www. Handicraft. Com/Onondaga/pricelist. Asps). Assume that this price is the on the road prices including registration fee and taxes and can be shown on the invoice. Standard accessories purchased from the show room along with the car can also be included in the vehicle value if included in the original pre-approved invoiced. Comprehensive vehicle insurance is compulsory for new vehicles and works out to about 2. 25% of the invoice value inclusive of taxes. Insurance policy of standard policy documents.
Vehicle has to be necessarily owned by the employee. If an employee gets promoted to the next grade, he can get a higher allowance if the 80% WAD is higher than his eligibility, else he has to wait till the stipulated time within the promoted grade for example for E grade it is 4 years. The company has tie ups with all leading car manufactures like Honda, Toyota, Data Motors, Haunted, Suzuki Motors, Maidenhair etc. The Honda dealer has been very aggressive and innovative and has cornered about 80% market share among the E employees in the EX. Corporation by selling their popular Honda City model.