Mr.
Gurpreet Singh
Apeejay Institute of Management and Technical Campus
Jalandhar
22-02-2018
SBIL-Gene-31644
Offer Letter: Senior Associate
Dear Gurpreet Singh,
1. We congratulate you on your selection for the position of Senior Associate with
our organization.
2. You will be on probation for one year. During this period, you will initially
undergo structured class-room training. This will be followed by your initial
posting in a specific role and location.
3. Your remuneration will be Rs.2,75,000/- (Rupees Two Lakh Seventy Five
Thousand only) p.a. on Cost to the Company (CTC) basis. The details of the
compensation are given at Annexure 1.
4. This offer of employment is subject to your fulfilling the following conditions:
Qualifying Post Graduate Degree / Diploma Program on the day of joining OR
Clearing PG Degree/ Diploma in first attempt if the results are awaited. You will
have to submit final Degree/ Diploma mark sheets within 15 days of declaration of
the results at university / institute concerned, failing which this offer automatically
stands withdrawn.
Submitting, in original, certificates of academic qualifications, age and other
testimonials;
5. During the probation period, your performance will be assessed continually. On satisfactory
completion of probation, your services in the Company will be confirmed.
6. Please arrange to return the duplicate copy of this letter, duly signed by you, in token of
acceptance of the offer. Please also forward photocopies of your proof of age, educational
certificates, other testimonials and 3 color passport sized photographs, along with the
acceptance letter.
7. For any clarification, you may contact the undersigned at _____________ or email at
______________________________.
8. In case of your resignation or termination from the services of SBI Life Insurance Co. Ltd
for any reasons whatsoever, the admissibility or otherwise of payment of variable pay /
incentive and the quantum of such incentive to be paid shall be at the sole discretion of the
Management and no correspondence shall be entertained in this regard.
9. The normal age of superannuation shall be 60 years.
Yours faithfully,
Ashima Sharma
Associate Vice President-Human Resource
________________________________________________________________________________
I, Gurpreet Singh, accept the above offer as Senior Associate in SBI Life Insurance Company
Limited.
Signature: Date:
Salary Sheet
Name Gurpreet Singh
Designation Senior Associate
Amt per Amt per
Salary Component Remarks
month (Rs) annum (Rs)
Basic Salary 9,167 1,10,000 40% of Fixed Compensation
House Rent Allowance 4,583 55,000 50% of Basic Salary
Conveyance 800 9,600
Special Allowance 5,576 66,912
Total Monthly Salary (A) 20,126 2,41,512
Reimbursements
Medical reimbursement will be on
Medical 1,250 15,000 subject to production of valid
receipts
Total Reimbursement (B) 1,250 15,000
Retiral Benefits
Company's contribution to PF @
PF 1,100 13,200
12% of Basic Salary
You will be entitled to gratuity as
per the Payment of Gratuity Act,
Gratuity 441 5,288
1972 after completion of five years
of service with the Company.
Total Retiral (C) 1,541 18,488
Fixed Compensation (A+B+C) 22,917 2,75,000
Performance linked Variable Pay as per
68,000
Company policy up to
Potential Annual Remuneration
3,43,000
on Cost to Company Basis (CTC)
In addition you are eligible for:
- Mediclaim Coverage for spouse ,up to two children and dependent parents up to ceiling of Rs 2 Lakh p.a.
- In case of Maternity Coverage the claim is covered up to Rs 0.50 lakh
- Group Life Insurance coverage of Rs 15 lakh.
Please note that remuneration is a contract entirely between you and the Company and should therefore
be treated as strictly confidential.
MEDICAL FITNESS DECLARATION
In pursuance of the offer of employment made to me by SBI Life Insurance, I, Gurpreet Singh
declare that;
1) To the best of my knowledge, I am medically fit to accept the offer of employment
extended to me and fully understand that in the event of my being found medically unfit
to discharge the responsibilities assigned to me, the company shall have the right to
terminate my services forthwith.
2) I suffer / have suffered from (tick whichever is applicable):
Hypertension
Pulmonary Disease
Tuberculosis
Cancer
Rheumatic Joint Diseases or symptoms
Asthma
Mental Stress
Others (Please specify)
and agree to undergo the medical examination as decided by the company to satisfy itself of my
medical fitness. The company’s decision in this regard shall be final and binding. This is,
however, without prejudice to the right of the company to terminate my services in future should
I be found medically unfit to discharge the responsibilities assigned to me.
__________________________
(Signature of the candidate)
Date: Place:
