Date: 15th June, 2021 CF/2021-22/OFR/29
Namrata Vedprakash Tiwari
Mumbai
Letter of Employment
Dear Namrata,
We are pleased to offer you employment as “Customer Advisor” at Coverfox Insurance Broking Pvt Ltd (“Company”)
on following terms and conditions, which shall be legally binding on you.
1. Commencement Date: Start date of your employment with the Company is 11th June,2021.
2. Location: Your present location of work will be Mumbai. Company retains the right to transfer you to another
location anywhere in India and/or from one department to another and/or from one establishment to
another, whether existing or which may be set up in future on the same project or on any other project to
which you are assigned in accordance with rules, subject to the condition that your status and emoluments
will not be adversely affected.
3. Remuneration: Your gross annual total remuneration package (on a Cost to Company basis) including all
statutory requirements would be INR 246,312. The break-up of this remuneration is shown as Annexure I, at
the end of this letter.
4. Probation & Notice Period: You shall be on a probation (“Probation Period”) of 6 months from the
Commencement Date, which may be extended in case it is found necessary. On successful completion of your
Probation Period, your employment with the Company shall be automatically confirmed, unless intimated
otherwise by the Company.
During the Probation Period, either you or the Company can terminate your employment by either giving you
30 days’ notice in advance or pro-rata salary in lieu thereof. Upon confirmation of your employment with the
Company, either you or the Company can terminate your employment by serving an advance notice of 1
month or pay one-month salary in lieu thereof (“Consigned Notice Period”). Failure to do so you are not eligible
for FNF, Relieving letter Incentive, Bonus, etc. Any exceptions to the Consigned Notice Period shall be at the
sole discretion of the Company. Company shall also have the right to terminate your employment without
notice by payment of your pro-rata salary in lieu of the Consigned Notice Period. Further, the Company shall
also have the right to terminate your employment without any notice or salary in lieu thereof in case of any
misconduct which shall include, but not be limited to theft, financial misappropriation, not following the IT
Policy, dishonesty, harassment of a work colleague or customer, serious or repeated failure to follow a
reasonable instruction, deliberate destruction of any property belonging to the company, actions which
seriously damage the company’s reputation, any criminal act or act of moral turpitude.
5. Leave: You shall be entitled to leaves and holidays as per Company policy.
6. Confidentiality: You shall not at any time either during the course of your employment or after you leave the
employment of the company or your services are terminated for any reason whatsoever, and in any manner,
either directly or indirectly disclose, divulge or make public, or communicate to any person, firm or corporation
or any other entity in any manner whatsoever any information concerning any matter relating to or affecting
the Company, its business in present or future including but not limited to any of its customers, the commercial
Registered Office: Unit No.1103, Lodha Supremus, Dr. E Moses Road, Worli, Lower Parel, Mumbai - 400018.
Principal place of Business: D Wing, 4131-4139, 4th Floor, Oberoi Gardens, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072.
E-mail: info@coverfox.com | Website: www.coverfox.com | CIN: U66000MH2013PTC243810
IRDA Direct Broker License No.478 IRDA/ DB 556/ 13, Valid Till: 26/12/2022
terms of any transaction, the design and technology specifications of our product or any other information
concerning the business of the company, its manner of operation, its plans, processes or other data, whether
all of the above stated matter is confidential material or important. While accepting this letter you agree that
any breach of this term shall be deemed to be material and shall cause irreparable loss and injury to the
company.
7. Outside Work: You shall work exclusively for the Company and shall not engage in any other activity connected
with your professional capabilities, whether on consideration or otherwise, without prior consent of the
Company.
8. Company Policies: You shall abide by all the rules and regulations of the Company, which may be changed at
any time at its discretion without any requirement to obtain your consent or approval or to notify you of the
same. The policies of the Company, as they stand, shall form an integral part of this offer letter and the
contract between you and the Company.
9. Miscellaneous:
a. You shall always have your postal address or communication address kept with the Company with all its
changes immediately as and when they may occur including at the time when you proceed on leave. All
communications sent by the Company at such address shall be deemed to have been communicated to
you.
b. It is agreed that any dispute of whatsoever nature between you and the Company will be subject to the
jurisdiction of Mumbai Courts only.
c. You shall retire automatically on completion of the age of 58 years, unless the Company in its discretion
decides to give you an extension. If such an extension is given, you will automatically retire on completion
of the extended period. You are required to state your date of birth in your application at the time of
employment.
10. Non Solicitation: You will not at any time during the term of your employment and for a period of two years
after the termination, either on your own behalf or on behalf of any third person canvass, solicit or endeavor
to entice away from the Company or its affiliates, any person or entity who has been working for or dealing
with the Company or its affiliates.
Your employment is contingent upon a successful completion of a background check, including a check of your
employment references. The Company has the right to terminate this offer and/or your employment forthwith
without any liability whatsoever based upon data received in the background check.
You hereby represent and warrant to the Company that your signing of this letter and the performance of your
obligations hereunder will not breach or be in conflict with any other agreement to which you are a party or
are bound, and that you are not now subject to any covenants against competition or similar covenants or any
court orders that prevent you from entering into employment with the Company or carrying out your
responsibilities for the Company, or that are in any way inconsistent with the terms of this letter.
We look forward to you becoming an integral part of our team and contributing to our growth and success.
Our people and our culture are the key reasons why people join us. You will become part of a high-energy
environment where people are passionate about their work and driven by a desire to succeed.
Registered Office: Unit No.1103, Lodha Supremus, Dr. E Moses Road, Worli, Lower Parel, Mumbai - 400018.
Principal place of Business: D Wing, 4131-4139, 4th Floor, Oberoi Gardens, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072.
E-mail: info@coverfox.com | Website: www.coverfox.com | CIN: U66000MH2013PTC243810
IRDA Direct Broker License No.478 IRDA/ DB 556/ 13, Valid Till: 26/12/2022
Please indicate your acceptance to the offer by signing and returning a copy of this letter to us within two days
from the date of this Letter, failing which the offer contained in this letter shall stand withdrawn.
Yours sincerely, I have read all the terms and conditions of the letter
of employment and would like to confirm my
acceptance.
Khevna Shah Signature of the candidate
Head - Human Resources
Name: ______________________________
Date: ______________________________
Registered Office: Unit No.1103, Lodha Supremus, Dr. E Moses Road, Worli, Lower Parel, Mumbai - 400018.
Principal place of Business: D Wing, 4131-4139, 4th Floor, Oberoi Gardens, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072.
E-mail: info@coverfox.com | Website: www.coverfox.com | CIN: U66000MH2013PTC243810
IRDA Direct Broker License No.478 IRDA/ DB 556/ 13, Valid Till: 26/12/2022
ANNEXURE I
DECLARATION AND UNDERTAKING REGARDING NON DISCLOSURE
I, Namrata Vedprakash Tiwari, residing in Mumbai And presently working as Customer Advisor, do hereby declare
and state as follows:-
1. I do hereby declare that I will faithfully, truly and to the best of my skills and ability, execute and perform the
duties required of me as an employee of Coverfox Insurance Broker Pvt Ltd (Coverfox).
2. I declare that in the performance of my employment and duties required of me. I will have to access
documents, files, records, customer details, project plans, strategies developments, execution process, quality
metrics etc, relating to businesses of Coverfox that is proprietary to Coverfox or its clients ( hereinafter called
“ Confidential Information”).
3. I will hold such confidential information strictly confidential by not, directly or indirectly, made known to any
person or entity, either inside Coverfox or otherwise. I shall faithfully and diligently hold such confidential
information from being disclosed to unauthorized persons. Such persons include, but are not necessarily
limited to persons who are not Coverfox employees, persons who are Coverfox employees but who do not
have a need to know the Confidential Information in order to perform their duties, persons not under a written
confidentiality agreement with Coverfox in regard to the Confidential Information, persons not directly aware
of the proprietary and trade secret nature of the Confidential Information.
4. I will immediately report to Coverfox, any violation or breach of the commitments made in this declaration,
whether the breach or violation is intentional or inadvertent.
5. All documents, files, records, project plans, strategies, customer details and items of information or equipment
relating to Coverfox’s business are and shall remain the property of Coverfox, including notes, documents, and
files created in the performance of my duties of employment. I shall not under any circumstances remove such
property from Coverfox’s premises without prior written consent.
6. I declare that notwithstanding the separation of my employment with Coverfox for any reason whatsoever I
will not communicate or allow to be communicated to any person not legally entitled thereof any information
relating to the Confidential Information and affairs of Coverfox.
Registered Office: Unit No.1103, Lodha Supremus, Dr. E Moses Road, Worli, Lower Parel, Mumbai - 400018.
Principal place of Business: D Wing, 4131-4139, 4th Floor, Oberoi Gardens, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072.
E-mail: info@coverfox.com | Website: www.coverfox.com | CIN: U66000MH2013PTC243810
IRDA Direct Broker License No.478 IRDA/ DB 556/ 13, Valid Till: 26/12/2022
7. In the event of my leaving services of Coverfox for any reasons during the 12 month period from the separation
date, I shall not directly or indirectly either on my own account or otherwise, canvass or solicit business with
any customer or agent with whom I had material dealings in the course of my employment with Coverfox.
8. I understand that my failure to comply with the declaration and undertaking will result in disciplinary action,
which may include termination of employment with Coverfox.
Executed this ______________ day of ___________, 2021
Signature: __________________
Name: Namrata Vedprakash Tiwari
Registered Office: Unit No.1103, Lodha Supremus, Dr. E Moses Road, Worli, Lower Parel, Mumbai - 400018.
Principal place of Business: D Wing, 4131-4139, 4th Floor, Oberoi Gardens, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072.
E-mail: info@coverfox.com | Website: www.coverfox.com | CIN: U66000MH2013PTC243810
IRDA Direct Broker License No.478 IRDA/ DB 556/ 13, Valid Till: 26/12/2022
ANNEXURE II
DECLARATION
Article I.
I hereby certify that all statements made on the Coverfox Insurance Broker Pvt Ltd employment application form are
true and complete. I understand that omission or misrepresentation of any fact may result in refusal of employment
or immediate dismissal.
I recognize that in connection with employment with Coverfox Insurance Broker Pvt Ltd. I may be the subject of a
background enquiry by Coverfox or its representative, and I hereby authorize the same.
Executed this __________ day of ________, 2021
Signature: __________________
Name: Namrata Vedprakash Tiwari
Registered Office: Unit No.1103, Lodha Supremus, Dr. E Moses Road, Worli, Lower Parel, Mumbai - 400018.
Principal place of Business: D Wing, 4131-4139, 4th Floor, Oberoi Gardens, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072.
E-mail: info@coverfox.com | Website: www.coverfox.com | CIN: U66000MH2013PTC243810
IRDA Direct Broker License No.478 IRDA/ DB 556/ 13, Valid Till: 26/12/2022
Salary Annexure III
Name: Namrata Vedprakash Tiwari
Salary Components Monthly (Rs) Annual (Rs)
Monthly Salary Component
Basic 12,730 152,760
House Rent Allowance 2,546 30,552
Statutory Advance Bonus 1,061 12,732
Special Allowance 1,799 21,588
Total (a) 18,136 217,632
Employer Contributions
PF Employer 1,800 21,600
ESIC Employer 590 7,080
Total CTC 20,526 246,312
Less Deduction from salary:
PF Employee 1,800
ESIC 136
Professional Tax 200
Total (b) 2,136
Net Take Home A = (a) - (b) 16,000
Note:
• TDS Deduction will be as per Income Tax Act.
• EPF will be deducted as per the applicability of Employees' Provident Funds & Miscellaneous
Provisions Act, 1952
Yours sincerely, Agreed and Accepted by:
Khevna Shah Signature
Head - Human Resources Name: Namrata Vedprakash Tiwari
Registered Office: Unit No.1103, Lodha Supremus, Dr. E Moses Road, Worli, Lower Parel, Mumbai - 400018.
Principal place of Business: D Wing, 4131-4139, 4th Floor, Oberoi Gardens, Chandivali Farm Road, Chandivali, Andheri (East), Mumbai - 400072.
E-mail: info@coverfox.com | Website: www.coverfox.com | CIN: U66000MH2013PTC243810
IRDA Direct Broker License No.478 IRDA/ DB 556/ 13, Valid Till: 26/12/2022
