DECLARATION

I Arushi Agrawal, student of PGDM HR , studying at International School of

Business & Media, Pune, hereby declare that the summer training report on Full
and Final Settlement: Exit Process submitted to , International School of Business
& Media, Pune in partial fulfillment of Degree of PGDM -H of is the original
work conducted by me.
The information and data given in the report is authentic to the best of my
knowledge.
This summer training report is not being submitted to any other University for
award of any other Degree, Diploma and Fellowship.

Arushi Agrawal

Company Overview

The Ismailia Co-operative Bank Limited and the Masalawala Co-operative Bank Limited came
into being in the 1930s. Eventually, Diamond Jubilee Co-operative Bank Limited merged with
Ismailia Co-operative Bank Limited. Subsequently in 1981, Ismailia Co-operative Bank Limited
was amalgamated with Masalawalla Co-operative Bank Limited to form the Development Cooperative Bank Limited. Citi Cooperative Bank Limited later merged with Development Cooperative Bank Limited, which thereafter was converted into a joint stock banking company, the
Development
Credit
Bank
Limited
on
May
31,
1995.
In the 1990s there were about 1400 co-operative banks in India and a few of these co-operative
banks were given permission by RBI to convert into scheduled commercial banks. Development
Co-operative Bank was one of 11 such banks that converted themselves into scheduled
commercial banks. Vide their resolution dated January 28, 1995, the shareholders of
Development Co-operative Bank resolved to register as a limited company within the meaning of
Sections 566 of the Companies Act. Development Credit Bank Limited was granted the
certificate of incorporation under the Companies Act and the license to carry on banking business
under Section 22 of the Banking Regulation Act, 1949 on May 31, 1995. At the time of its
conversion to a limited company under the Companies Act, the Bank had a capital of Rs.73.34
million
and
net
worth
of
over
Rs.1000
million.
Since its conversion into a scheduled commercial bank, the Bank has over the years expanded its
operations beyond the states of Maharashtra, Gujarat and Andhra Pradesh into the states of, Goa,
Haryana, Karnataka, Tamil Nadu, Union Territories of Daman and Diu & Dadra & Nagar Haveli
and the National Capital Territory of Delhi. Today, it has a network of 67 branches, 5 extension
counters and 101 ATMs across the country.

About DCB Bank

DCB Bank is a modern emerging new generation private sector bank with 154 branches across
17 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve
Bank of India. It is professionally managed and governed. DCB Bank has contemporary
technology and infrastructure including state of the art internet banking for personal as well as
business banking customers.
DCB Banks business segments are Retail, micro-SME, SME, mid-Corporate, Agriculture,
Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking
Finance Companies (NBFC). DCB Bank has approximately 450,000 customers.
DCB Banks network of 154 plus state-of-the-art, customer friendly branches are across the
states of Andhra Pradesh, Chhattisgarh, Delhi/ NCR, Goa, Gujarat, Haryana, Karnataka, Kerala,
Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar
Pradesh, West Bengal and Union Territories of Daman & Diu and Dadra & Nagar Haveli.
DCB Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group
the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd.
holds over 16.41% stake. AKFED is an international development enterprise. It is dedicated to
promoting entrepreneurship and building economically sound companies.
VISION
Our vision is to be the most innovative and responsive neighborhood community bank in India
serving entrepreneurs, individuals and businesses.
VALUES
Treat Everyone with Dignity

Respect

Do What is Right

Ethical

Be Open & Transparent

Sense of Urgency, Passion & Energy
Go the Extra Mile, Find Solutions

Fair
Dynamic
Stretch

Improve Continuously

Excellence

Play as a Team, To Win

Teamwork

Support the Society

Contribute

Organization Structure

Corporate Governance

Code of Conduct for Members of the Board of Directors

This Code of Conduct (the Code) has been adopted by the Bank's Board of Directors and
summarizes the standards that must guide their actions. While covering a wide range of business
practices and procedures, these standards cannot and do not cover every issue that may arise, or
every situation where ethical decisions must be made, but rather set forth key guiding principles
that represent the DCB Bank's policies, regulators intent and Clause 49 (Listing Agreement)
requirements in that regard. Reference to the Code set forth below and reliance on common sense
and good judgment will help resolve issues not specifically dealt with in the Code. However, for
interpretation / understanding the wider meaning or scope of the terms Clause 49,
Confidential Information, Insider Trading and Conflict of Interest, a reference may be made
to the Chairman who may consult his advisors / Head Legal and Compliance or seek any general
advice. In particular, following should be observed as a code:

Board members should observe the highest standards of ethical conduct and abide by all
applicable laws and regulations (including on insider trading) to which they are subject.
When exercising the powers and carrying out the tasks and duties conferred upon them,
Board members are expected to act in the interests of DCB Bank to the best of their ability and
judgment, consistent with their responsibilities to the regulators.
As a part of good corporate governance practices, the Board members are expected to
attend the Board meetings regularly and participate in the deliberations and discussion
effectively.
As Directors on the Board, they shall be providing broad directions to the management
team and would undertake such steps as necessary for good corporate governance and
compliance of all regulatory requirements. They will monitor the performance of the bank on a
periodic basis and provide guidance to the Management on key aspects relating to key policy
matters.
Board members are expected to maintain the confidentiality of non-public information
about the DCB Bank or its activities or operation to which they have access by virtue of their
functions as Board Members (Confidential Information). If Board members are required to
disclose Confidential Information by reason of legal requirements, they should inform the
Chairman of any such requirement, if practicable in advance, who may, if appropriate, raise the
matter with the Board.
When making public statements on DCB Bank related matters, Board members will
refrain from making any statements on behalf of the Bank and in case there is a need, they will
consult the Chairman
If a conflict of interest or appearance of a conflict of interest, with the DCB Bank arises,
Board members are expected to take action, as appropriate, to address the conflict. Board
member should inform the Chairman, who may, if appropriate raise the matter with the Board.
Board members may seek information in the interest of the Bank generally from the CEO
directly and from the members of the management committee of the Bank if necessary.
It is expected from Board members that they would not involve themselves in general or
personal administration or day to day functioning of the Bank, in conformance with Clause 49 of
the Listing Agreement entered into with the stock exchanges.

HR Departments in DCB Bank

1) Recruitment:
The
main
objective of this policy is to recruit the right people for the right jobs in the Bank. All hiring
is done as per approved Manpower Requisition Forms (MRF). In-house recruitment
objectives would mainly include the internal jobwatch, where the internal candidates, would
be given opportunities for the identified positions. In the out-house recruitment objectives,
the team needs to consider the sources of candidates (i.e. the channels through which good
profiles are expected)
2) Training & Development: The broad objective of this policy are:
a. To develop a learning culture in the bank.
b. To develop our internal resources at par or better than the talent available outside.
c. To support employees with knowledge & skills in meeting business requirement.
3) Organizational Development & Talent Management: This department conducts the
promotions process of the employees, their appraisal process of the employees at DCB Bank,
publishing the newsletters, known as DCB ESQuire, conducting employee satisfaction
surveys, etc. The promotion and appraisal period is generally conducted in the month of May.
4) Operations Management: The operations team has three sub functions as follows:
i) Joining and On boarding: They are responsible from the time when the employee
joins the organization till the time he receives all the necessary equipments needed to
work, i.e. ID Cards, Workstations, Desktop, their software ids and passwords, etc.
ii) Payroll: This sub department is responsible for monthly payroll processing,
Investment Declaration, year end investment proof verification, Quarterly and Year end Tax processing (Form - 16, Form 24, Form 12 BA)
iii) Full and Final Settlement: The Full and Final settlements form a part of the
Employee Exit Process. All the documents to be filled shall be available with the HR
Regional Manager (HR-RM) and employee can collect those from the HR Regional
Manager (HR-RM) / Fill the same online on HumaNET (wherever applicable).
5) Compensation: The Banks objective is to maintain a Compensation Policy that:
i) Is able to attract, retain talent and motivate them to perform at high standards
ii) Facilitates a performance culture in the Bank by balancing a mix of fixed pay with
variable pay
iii) Supports the Banks risk management practices and takes into account long term
performance of the Bank
iv) Is compliant with regulatory requirements and is approved by the Boards
Nomination & Remuneration Committee.
6) HR Help Desk: Resolves any queries of ex employees and present employees through mail
or calls.

HR Practices Followed by the Bank

HR has been playing a key role in the journey of the Bank. This year, a lot of progress was made
in enhancing people skills, providing career opportunities and caring of employees. In a first of
its kind, a promotion policy and process was introduced whereby all employees could selfnominate for promotion if they are eligible as per the published promotion policy. The whole
idea was to increase transparency in the promotion process. In order to improve the quality of
decisions and enhance skill levels, promotion tests and interviews were introduced at various
levels. The Banks foundation of customer service rests on three pillars namely Empathy, Speed
and Quality (ESQ). The Bank continued to train employees on ESQ and so far 2,174 employees
have gone through the ESQ program. This year HR launched an advanced program called
Living out ESQ.
The Bank has a caring attitude for its employees and accordingly launched the initiative called
Employee Assistance Program (EAP). In EAP the employees and their dependants can access
professional counselors free of cost. They can obtain the counselors assistance to deal with their
personal problems in a confidential manner. In addition to EAP, HR organized Annual Health
Check-ups for employees and their families at a discounted pricing. Further, Health Week was
celebrated to build awareness about various aspects of health, for example, bone density test,
cancer awareness, stem cell awareness, nutrition workshop, health tips and stress management.
The Banks Coffee with MD & CEO series was organized which gave an opportunity to many
frontline staff to directly interact with the MD & CEO and share their views and concerns. The
Bank conducted a Career Fair for employees which gave an opportunity to have one-on-one
discussions with HR and senior team members. Employee Benefits were enhanced in many
ways. Medical claim and Personal Accident insurance limits were increased substantially.
Employee Personal Loan program was launched providing loans at rates lower than market
interest rates. Eligible employees were given leave encashment option up to 7 days.
In the true spirit of ESQ, HR has created a dedicated help desk to provide timely service to
employee queries. The Bank has created a Competency Model which is used in Hiring, Training
and Promotions. The Competency Model is extremely helpful in standardizing competency
alignment across all people related decisions. In resourcing, the Bank has continued to develop
innovative methods for accessing and attracting talent. The Bank increased its headcount by
21.7% in FY 2014. The Top Recruit program was a unique initiative to create an employer brand
in business schools and to allow students to apply for jobs in different functions of the Bank.
Social media was effectively used for this initiative and the response was overwhelming. The
Campus Connect was another initiative for a more interactive dialogue with students. The Banks
top team delivered lectures on important topics as requested by various top business schools. The
above initiatives were instrumental in creating brand awareness among prospective candidates
from campuses. Further, to infuse young talent in the Bank from business schools, the Bank
recruited three batches of freshers. In order to help them settle down properly in their
respective jobs a 15 day induction program called Velocity was launched.
The Bank has created a learning culture and uses Individual Learning & Development Scorecard
approach. In FY 2014, huge efforts have been made in providing training to employees. The new
employee induction program was revamped and made more fun and interactive targeting
younger employees. The basics of banking and AML/ KYC training was modified in line with

the changing needs. A branch based loans credit module was created to improve branch staff
understanding of credit. A new sales coaching program called Beat the Best for enhancing the
performance of front line sales executives was successfully conducted. In line with the new Risk
Based Supervision Framework of RBI a risk training module was used to cover more than 800
employees across different units. A part from this, HR continued its well established and popular
leadership and development programs namely LEAP, RISE (for developing leaders of
tomorrow), ASPIRE (for providing skills to employees to deal with additional responsibilities)
and PACE (for improving frontline sales capability).
The Bank adopted a unique approach to integrate different units across all the locations. Similar
to schools, the Bank created the concept of Houses and all the employees were distributed across
five houses which were given attractive names. The concept of house is designed to break the
silos and create camaraderie across the Bank. In order to mix fun and work several employee
engagement programs were conducted during the year for example cricket tournament, arm
wrestling, etc. All the festivals of India were celebrated with enthusiasm and zeal. CSR activities
such as Joy of Giving Week celebration, blood donation drives, donation of old computers,
clothes and books, charity auction, etc. were conducted.

PAYROLL PROCESS

The Payroll Process is outsourced and being presently handled by Osource (India) Pvt. Ltd.
(Osource).
Function 1. : Monthly Payroll Processing
The salaries and emoluments for the month are credited on the 26th of every month.
Employees would be able to view their pay slip for the month 2 days after the salary has been
credited.
Individual employee's Tax slip, Reimbursement slip, PF slip, Loan, Attendance & Leave details
are available on the payroll service provider site.
Function 2. : Investment Declaration
All investment declarations are to be made on the payroll service provider site in the month of
April/May every year. Any failure to declare the same would result in appropriate tax deductions
from salary.
For new joinees, benefit of Rs.1 lakh u/s 80C shall be given in the first month of joining. From
the next month onwards, employee shall have to make Investment Declaration on the payroll
service provider site.
Function 3: Year End Investment Proof Verification
For purposes of claiming tax exemptions as per the investment declarations (and for Medical
expenses) uploaded on the payroll service provider site, all employees are required, without fail,
to submit proofs for the same by 26th of December every year (or date as informed via
postmaster).
The proofs are to be annexed along with the Employee Proof Submission Form (EPSF) and are
to be sent in a sealed cover marked "Proof of Investments" (Please enclose all Medical Bills
also) to HR - Operations, for onward transmission to the payroll service provider.
Please ensure that all documentation reaches the HR-Operations by 26th December every
year (or date as informed via postmaster) without fail. This would ensure that employees are
not Inconvenienced by any excess deduction of tax.
Function 5: Quarterly and Year - end Tax processing (Form - 16, Form 24, Form 12 BA)
Upon receipt and verification of relevant documentation regarding tax exemption, the Form - 16
is issued by the payroll service provider and received by the HR Operations Team.
The same is uploaded on the payroll service provider site for individual employees.

Employment Separation Process

Full & Final Settlement Processing

The Full and Final settlement processing is handled by the HR Team.

The Full and Final settlements form a part of the Employee Exit Process

All the documents to be filled shall be available with the HR Regional Manager (HR-RM) and
Employee can collect those from the HR Regional Manager (HR-RM) / Fill the same online on
HumaNET (wherever applicable). A list of the documents required is mentioned below:
1.
2.
3.
4.
5.

Approval of Resignation on HumaNET.

Exit Clearance Form (Available on HumaNET).
Exit Interview Form
PF Claim Form, in case of PF withdrawal
Gratuity Claim Form, if applicable. (Form L)

In case of Officers (SE), documents required are mentioned below:

1.
2.
3.
4.

Approval of Resignation on HumaNET.

Exit Clearance Form (Available on HumaNET)
PF Claim Form, in case of PF withdrawal
Gratuity Claim Form, if applicable.

It is the responsibility of the Supervisor/HOD to inform the HR Regional Manager (HR-RM)

once
an employee submits his/her resignation & the resignation is accepted This should be done
through an e-mail/HumaNET clearly communicating the last working day.
It is the employee's responsibility along with the HR Regional Manager (HR-RM) to complete
the
Exit Checklist and obtain clearances (e.g. Conversion of Salary A/C or Staff TD to Customer
A/C or Customer TD respectively, closure of email id, settlement of loans and advances, etc.).
The completed set of documents clearly marked as Full & Final Settlement Documents is to be
sent to the HR Regional Manager (HR-RM) & they shall, after verification of completion of
documents, send the same to HR Operations Team, Mumbai.
All documentation must reach the above mentioned address at least 3 weeks prior to the
employee's last date of employment with the Bank. The TAT for Full & Final Settlements is
minimum 60 days from the Date of Exit Clearance.
In cases where the PF is to be transferred to another organization/government, care must be
taken to complete all necessary documentation with the new organization to avoid delay in
processing the same.
No leave can be taken during notice period. In case, leave has to be taken due to any
emergency, approval of immediate supervisor is required before the employee can avail of any
leave.
All leave will lapse and no leave will be en cashed at the time of Full & Final settlement.
No leave will be adjusted against Notice Period days.

It is the employees responsibility to ensure there is smooth handover and transition during his
Notice Period.
Any waiver of notice pay will have to be justified by the immediate supervisor and approved
and signed off by the Business Unit Head (not below the grade of Senior Vice President) or
Head HR.
The HR Regional Manager (HR-RM) & the HR Operations Team would be responsible for
verification of all exit documentation and their onward transmission to payroll service provider
for settlements. It is critical that all documentation is completed in all respects.
Employees to note that the last months salary will be credited along with the Full & Final
Settlement

Notice Period
Mentioned below is the grid of the Notice Period to be served by the Employee for levels across
the organization effective 1st January 2013.
Grade

Notice Period
Post probation / Pre probation

Executive Vice President, Group Senior Vice

President & Senior Vice President,

90 days

Group Vice President, Vice President, Group

Associate Vice President Associate Vice
President, Senior Manager, Manager, Deputy
Manager, Asst. Manager, Management Trainee
& Executive

90 days / 30 days

Officer Trainee, Sr. Asst. Officer, Asst. Officer,

Assistant & Subordinate Staff

30 days

Officer

30 days

Employees on Fixed Term or Contract

30 days

Gratuity
As per provisions of the Payment of Gratuity Act 1972, gratuity shall be payable to an employee
on the termination of his employment after he has rendered continuous service for not less than 5
years,
a) On normal retirement, or
b) On early retirement or resignation,
c) On death or disablement due to accident or disease
If the termination of the employment of any employee is due to death or disablement then, the
completion of continuous service of five years shall not be necessary.
Gratuity is calculated at the rate of 15 days last drawn wages for every completed year of service
or part thereof in excess of six months, subject to:
1. Maximum of Rs. 10 lakhs for the employees who have joined after 1st April 2006.
2. For employees joined before 1st April 2006, there is no upper limit and is subject to
Banks Gratuity Trust rules.

Nomination of Family Members:

The employee has to nominate family members to receive payment of gratuity in event of death
of the employee. The nomination is documented in the Gratuity Nomination Form

Tax Benefits:
Benefits: Gratuity payment currently is tax-free up to half months salary for every completed
year of service or Rs. 10 lakhs whichever is less.

Provident Fund
All employees (as mentioned in the appointment letter) shall be covered under the Banks
Provident Fund Trust. On contract employees are not covered. Currently the employee
contributes 12% of the basic salary & the Bank also makes a matching contribution.
1. DCB Bank has its own PF Trust which maintains the PF accounts.
2. The rate of interest on PF is decided by the Trustees every year, based on the income on
investments and the Bank provides statements online.

Allotment of PF number:
The PF form is provided to the employee along with the joining kit.
On joining DCB, all new employees are allotted individual PF account numbers on the basis of
their date of joining.
The HR Operations Team shall automatically generate a new PF number each time an employee
joins.

Nomination of family members:

1. Employee has to nominate family members to receive payment of Provident Fund in the
event of death of the employee.
2. The nomination is documented in Form 2.

Transfer of PF from previous organization:

1. Employees may wish to transfer the PF accumulation that they had with their previous
organization(s) to the PF account with DCB.
2. It is a voluntary option.
3. In this case employee has to fill Form 13 in duplicate giving all particulars of their
previous employer's name, address, the PF account number that they had with the
previous organization etc. and submit the same to HR.
4. The Bank shall not follow up with the previous organization of the employee. To get an
early transfer it is the individual employee's responsibility to follow up with the HR dept.
of their previous organization.

Voluntarily increasing the PF contribution

1. Employee has the option of voluntarily increasing his/her PF contribution to the PF
account and can opt for an additional contribution of either 6% or 12% of the basic salary
towards PF.
2. The Bank, however, shall continue to contribute 12% only.
3. Once an employee opts for voluntarily increasing his/her PF contribution, he/she cannot
change this till the end of the financial year. Employee can opt for closure at the end of
March.
4. To opt for a voluntary increase in the PF contribution, please send an email to HR
Operations Team.

Exit Process Note

Initiate Resignation
request on
Humanet by filling
the resignation
form

Initiate
Request
Again

Form to be approved
by the reporting
supervisor
No

Yes

In case of
waiver,
Approval of

To be forwarded to
the HR Dept
(corporate office)

Documents
are verified
and
compiled for
individual
employee

HR Regional
Manager
maintains a
record of all the
Documents
complete

Excel Tracker
Maintained & Info sent
to Osource

HRRM also
maintains a
tracker sheet and
sorts the

Documents
not complete

Employee is
Informed and
asked to submit
the documents
HRRM
receives FnF
Sheet from
O source
and verifies

Compile all data

and send to O
source for JV

Relieving Letter is
prepared and sent to
the employee and his
account is closed

Receives JV,
compiles
documents and
prepares exit kit

Step 1: The employee initiates a request on Humanet by filling the form and submitting it. The
Immediate supervisor gets a notification of the resignation and takes action on the same. He
either approves it or rejects it. If the resignation is rejected, the employee has to initiate the
request again.
Step 2: The form after being approved by the immediate supervisor goes to the HR team in the
corporate office. If there Is any waiver of notice pay recovery, then the form is sent to the BUH
for approval. If the waiver of notice pay recovery is approved, then no recovery is made from the
employee. If the waiver is not approved, then the amount is recovered from the employees
salary account or any other way.
Step 3: After the corporate office receives the resignation application, the HRRM requests the
employee to fill the PF form, exit interview and gratuity form (if applicable). A copy of these
documents is included in the FnF kit that is prepared for every individual employee. All the
departments are required to give the clearances for the particular employee.
Step 4: The HRRM maintains an excel tracker sheet for the employee which is filled and sent to
the vendor O source which then prepares the FnF sheet and sends it back to the bank. The
HRRM then verifies the calculations manually.
Step 5: The net amount that is to be paid to the employee has to be calculated and sent to the
vendor again and he prepares the JV and sends it back to the bank. The HRRM then compiles all
the documents (list of documents mentioned below) and prepares the FnF kit.
Step 6: The relieving letter is prepared based on the recovery made or amount to be paid to the
employee. Different formats are used for different cases. i.e with recovery, without recovery,
excess salary, balance salary, etc. It takes around 45 days after the last working day of the
employee for the relieving letter to reach the employee.
On the last working day, the employees are required to hand over the ID Cards and other
accessories that were allotted to them for official purpose.
The HRRM is required to direct the IT Dept to ensure that any access to local IT systems and
accounts are cancelled. This is in addition to any access and accounts managed through IT
Services and may include home office phone or cable connections.
The list of required documents to complete the process is as follows:

Printout of the resignation letter from

Humanet
Pay slip
Attendance Sheet
Tax Sheet
FnF sheet
Journal Voucher (JV)

Exit Clearance Form

Exit interview form
PF claim form
Declaration form
Gratuity: Form L If applicable
Telephone Allowance
Relieving Letter

 Professional Tax Auditing

Professional Tax is the tax charged by the state governments in India. Any one earning an
income from salary or any one practicing a profession such as chartered accountant,
lawyer, doctor etc. are required to pay this professional tax. Different states have different
rate and method of collection. In India, the professional tax is imposed at the state level.
This auditing is done by the Operations and Payroll department of the bank. Every branch
of DCB Bank is supposed to pay professional tax. Every branch is given a unique sol ID
which is used while auditing the professional tax. This tax is paid on a monthly basis.
An excel sheet is maintained of all the branches in the country which is to be submitted to
the corporate office in Mumbai (Lower Parel). This excel sheet is then verified by the HR
Official in the corporate office by the record of the tax they receive from the branch of
every state. In case of any discrepancy, the branch is notified and the correction is made.

Exit Kit
When an employee initiates a request on Humanet for separation, he has to prepare some
documents to submit to the corporate office HR which the corporate office then verifies
and prepares a kit of these documents. Some of these documents include PF transfer
form, exit interview form, salary slip of the employee, tax sheet. There are different types
of relieving letter formats.
Every employee has to serve a notice period based on his/her grade. If the employee is
unable to fulfill this notice period for some reason, he seeks permission from the
Business Unit Head. If the Business Unit Head permits to waiver the notice period then
the employee doesnt have to pay the notice period recovery. But if his waiver is not
approved, then he has to pay the notice pay recovery amount which will depend on the
number of days for which he has taken a leave.
This amount is then deducted from his salary while preparing his full and final
settlement. If there is sufficient balance in his account, then the amount is deducted from
his account or a lien is marked on the account for the remaining account. If there are any
other deductions to be made, they are made at the time of preparing the full and final
settlement of the employee. In case there is some amount to be paid to the employee, then
the same is mentioned in the FnF Sheet for that particular employee.
In case the employee has served more than five years in the organization, then he/she is
eligible for gratuity. This amount Is paid to the employee when he/she leaves the
organization and in case of any recovery, the amount can be recovered from the amount
of the gratuity to be paid. To avail the gratuity, the employee has to fill the form L for
gratuity and the amount is calculated by the corporate office HR. The relieving letter is
16 | P a g e

prepared for the employee keeping in mind the above mentioned points. The whole
process takes about 45 days to complete and only after that the employee receives the

Observation & Recommendation

relieving letter.

The HR Department in the corporate office is divided into 5 major departments namely
Operations, Recruitment, Organizational Development, Training & Development and
Help Desk. Further Operations is divided into Joining & Onboarding, Payroll & Full &
Final Settlement of the employee.

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