Date: 09-August-2023
To,
Mr. Eipula Raju
H.No. 1-18, V - Rowrukula, Dist -
Siddipet, Telangana - 502107
Emp. Code: 7216
SUBJECT: LETTER OF APPOINTMENT
Dear Eipula Raju,
With reference to your application and subsequent interview with us, we are pleased to make you an offer
of appointment as Relationship Officer – Sales at our Siddipet location.
This appointment shall take effect from 08-Aug-2023.
The details of your remuneration and benefits are in Annexure I.
Your appointment of services is based on the following terms and conditions:
Probation: You will be on probation for period of six months starting from date of joining. This
period of probation will be liable to such extension(s) as the management may deem fit in its sole
discretion. Unless an order in writing, confirming your services is issued and accepted by you, you
will not be deemed to have been made permanent. But if the management is not satisfied with
your work, conduct, discipline etc. your services shall be liable to be terminated without any notice
at any time without assigning any reasons during or on completion of the initial or extended
probationary period. There will be no leave (PL) during probation period. After completion of
probation, you will be entitled to avail leave as per company policy.
Professional Ethics & Confidentiality: While you are working with Finova Capital, you are not
permitted to carry on any business or profession or enter, for any part of your time, in any
capacity, the services of, or be employed by or engaged with any other firm, company or person.
You will devote your whole time and attention to your office work to promote the interest of the
company. You will not divulge details like your compensation structure (CTC), performance rating,
increment etc. and will not divulge to any person or utilize any of the company’s secrets or other
related information with any external agencies, press etc. Any act in breach of this term would
entail initiation of appropriate action as deemed fit by the company.
IT Security Practice & Procedures: While you are in the services of the company, you will adhere to
the IT Security Practice & procedures as prescribed by the company. Any instances of violation or
any attempted violation of the aforesaid IT Security Practices and Procedures on your part shall
result in disciplinary action.
FINOVA CAPITAL PVT. LTD.
CIN : U65993RJ2015PTC048340
Regd. Office : 702, Seventh Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Corp. Office : Fourth Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Tel.: 0141-4118202, www.finova.in, E-mail : info@finova.in
Notice Period: In case you decide to leave the company’s services, you will be required to serve
the notice period as per company Exit Notice Period Policy at the time of exit. The company in its
sole discretion can decide to waive off/reduce the notice period depending upon the exigencies. In
such case, you would be required to pay to the company the gross salary for the notice period so
reduced/waived off.
If an employee fails to serve notice period or clear any dues, the company has to right to withhold
any payment due to the employee in full and final settlement.
If an employee decides to leave the company’s services, he will be not eligible for any incentive
and bonus.
If an employee fails to deposit the IMD/EMI in company account as per TAT, same amount will be
deducted from his salary and penalty will be applicable as per company delay deposition policy.
Presently the place of your work will be Siddipet however during the course of your service; you
may be transferred or posted to any location of Finova Capital Pvt Ltd without any additional
remuneration.
Please note that during the course of your services with the company you cannot be a member of
any anti-social/national outfits or of any outfit which is declared as banned by the government.
Any act in breach of this term would entail initiation of appropriate action as deemed fit by the
company
Please note that while joining the services of the company and during the course of your services
with the company, you would be required to notify the company immediately with details of civil
or criminal case/s instituted against you in any court of Law or any complaint/show cause
notice/prosecution with/by any police station or by any statutory authority, as also you will notify
any outcome of such complaint like filing of charge sheet/Arrest/Conviction/Acquittal/Discharge.
Any act in breach of this term or any suppression or concealment of such material information
would entail initiation of appropriate action as deemed fit by the company.
Company expects resolution of issue/s relating to your employment, if any, within the framework
internally, at all time during your service period and even after cessation of services due to any
reason whatsoever. As such please note that any attempt to bring any outside influence- directly
or indirectly – upon any authority to further your interest/s in respect of matters pertaining to
your services with the company would amount to breach of employment contract leading to
initiation of appropriate action.
Please note that during the course of your services with the company, you will not take part in any
demonstration/agitation against the company and its official/s for or on behalf of any external
bodies/political outfits – either as a member or as a sympathizer. Any act in contravention of the
above would be treated as prejudicial to the interest and reputation of the company leading to
initiation of appropriate action.
FINOVA CAPITAL PVT. LTD.
CIN : U65993RJ2015PTC048340
Regd. Office : 702, Seventh Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Corp. Office : Fourth Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Tel.: 0141-4118202, www.finova.in, E-mail : info@finova.in
You shall not shoot any videos or make any ‘reels’ in the office/premises of the company, nor can
you upload or publish any such video/reel etc. on any social media or any other platform, without
prior permission, in writing, from the competent authority in the company. Nor shall you publish
any defamatory material etc. regarding the company. Any breach of this condition shall entail
strict action.
You will not enter any commitment or dealings on behalf of the Management for which you have
no express authority nor alter or be a part to any alteration of any principle or policy of the
Management or exceed the authority or discretion vested in you without the prior sanction of the
company or those in authority over you.
You shall at all times, well and truly account for and shall when so required, make over, to
responsible authority all moneys, properties and things belonging to the company which may have
been placed in your custody or under your supervision or may otherwise have come into your
possession or under control.
All programs, system logins, manuals, literatures etc. developed by you while in company’s service
will at all times be deemed to be the sole property of the company. Also the company shall at all
times have the sole proprietary right in any new system which you may develop while in
company’s service.
During the term of your employment with Finova Capital and one year thereafter, you shall not
personally or through an agent, organization or otherwise in any manner directly or indirectly.
Induce or attempt to induce any supplier of Finova Capital or any of its affiliates to cease to supply
or restrict or vary the terms of supply.
Induce or attempt to induce any customer or client of Finova Capital or any of its affiliates to cease
to procure such products and/ or services.
Solicit, recruit, induce or persuade any of the employees of Finova Capital or any of its affiliates to
leave their employment or take away such employees, or attempt to solicit, induce, recruit,
encourage to leave their employment or attempt to take away employees.
Termination of Employment: Your services with the company are liable to be terminated in the
event of:
(a) Any breach of the conditions mentioned in this letter on your part
(b) Any incorrect information furnished by you like:
Mismatch in your previous employment data even for a day
Mismatch in your previous pay slip
Fake qualification certificates etc: and
(c) Suppression of any material information by you.
FINOVA CAPITAL PVT. LTD.
CIN : U65993RJ2015PTC048340
Regd. Office : 702, Seventh Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Corp. Office : Fourth Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Tel.: 0141-4118202, www.finova.in, E-mail : info@finova.in
(d) Absence for a Continuous period of ten days without prior approval of Your Manager.
(e) Any breach of the Rules and Regulations of the company as applicable/may be made applicable
to you from time to time.
(f) Any act of dishonesty, disobedience, insubordination, incivility, intemperance, irregularity in
attendance or other misconduct or neglect of duty, or incompetence in the discharge of duty on
your part or breach of any of the terms, conditions and stipulations contained therein.
(g) You being adjudged an insolvent or applying to be adjudged an insolvent or making a
compensation or arrangement with your creditors or being found guilty by a competent court of
any offence involving moral turpitude.
(h) The reconstruction or amalgamation of the company whether by winding up of the company or
otherwise.
(i) Any major misconduct on your part.
You will keep the Management informed of any change in your residential address.
Jurisdiction & Dispute Resolution– In case of any and all disputes/ defaults / breach/ differences
and / or claims arising out of or in connection with your employment or performance or as to the
interpretation/construction, meaning or effect hereof or as to the rights and liabilities whether
during the subsistence of your employment or thereafter shall be settled by arbitration of a sole
arbitrator mutually appointed by the both Parties as mentioned in Schedule 1. The place of
Arbitration shall be Jaipur and the language shall be English. The decision of the Arbitrator so
appointed shall be final and binding and enforceable. The arbitrator may proceed ex-party in case
failure to appear after reasonable notice. The courts at Jaipur only shall have exclusive Jurisdiction
in respect of any dispute arising out or in the connection with this contract, terms & condition of
appointment letter.
On behalf of the company, we wish you every success in your position and trust that our relationship will
be long and mutually rewarding.
Yours Sincerely,
For Finova Capital Pvt. Ltd.
Vipul Tambi
VP- People & Culture
I am in agreement to above mentioned terms and condition. I undertake to abide by the code of conduct and
policies of the company.
I hereby accept this letter.
Eipula Raju Signature
FINOVA CAPITAL PVT. LTD.
CIN : U65993RJ2015PTC048340
Regd. Office : 702, Seventh Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Corp. Office : Fourth Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Tel.: 0141-4118202, www.finova.in, E-mail : info@finova.in
Schedule 1
DISPUTE SETTLEMENT MECHANISM
I, Eipula Raju (Hereinafter referred to as the Employee) (which expression shall be deemed to include his/ their heirs executers,
administrators, assigns, where the contexts so admit)
AND
Finova Capital Pvt. Ltd., a non-banking financial company, duly incorporated and registered under the provisions of Companies
Act, 2013 having its registered office at Finova Capital Pvt Ltd, 702, 7th Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony,
Amrapali Marg, Vaishali Nagar, Jaipur- 302021 holding Corporate Identity Number [CIN] [U65993RJ2015PTC048340] (herein
after referred to as “Finova” or “Company” or “Employer”) which expression shall unless repugnant to the context or meaning
thereof shall be deemed to mean and include its successor(s) or assign(s);
Hereinafter, the Finova & Employee shall individually be referred to as the “Party” and collectively as the “Parties”.
WHEREAS the parties have mutually agreed to execute this Dispute Settlement Mechanism in connection with Appointment
letter 09-August-2023 executed between the parties with regard to the Employment.
Witnessed that the Parties hereby agree that notwithstanding anything contained in the Appointment letter, all matters,
questions, interpretations, defaults, breach, disputes, differences, and/or claims between the Parties arising out of and/or
concerning and/or in consequence of or relating to Appointment letter or as the construction thereof or any of the terms and
condition thereof of the Security being the subject matter of the Appointment letter or as to the compensation or damages done
to the Security or the Employment or other benefits raised or obtained by Employee or regarding the Security whether or not
the obligation of any one or more of the Parties under the Appointment letter be subsisting at the time of such disputes and
whether or not the Appointment letter has been terminated or purported to be terminated or completed shall be referred to the
sole arbitration of mutually agreed one of Arbitrator in the below mentioned Panel of Arbitrators .The arbitration shall be
governed by the Arbitration Amendment Act 2015 or subsequent enactments or amendments thereto (“Arbitration Act”) and
the award passed by the arbitrator shall be final and binding on all the Parties concerned. The arbitration proceedings shall be
held at Jaipur, Rajasthan. The language of arbitration proceedings will be in English. The Arbitration proceedings will be
conducted through virtual or physical mode. The arbitrator shall be competent to decide the liabilities of the parties for the cost
of arbitration. In the event of the death, refusal, neglect, inability, or incapacity of a person so appointed, to act as an arbitrator,
in that circumstances the same shall be referred to another Arbitrator. The parties hereto have agreed to execute this Dispute
Settlement Mechanism on this 09-August-2023 and bind themselves and their heirs and successors and administrators and
assigns.
FINOVA CAPITAL PVT. LTD.
CIN : U65993RJ2015PTC048340
Regd. Office : 702, Seventh Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Corp. Office : Fourth Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Tel.: 0141-4118202, www.finova.in, E-mail : info@finova.in
Panel of Arbitrators
Select Name of Arbitrator Arbitrator Address
Rahul Choudhary 1138 Barkat Nagar Kishan Marg Tonk Phatak Jaipur Rajasthan 302015
Ashok Gautam 74 Shanti Niketan Colony Barkat Nagar Tonk Road Jaipuir Rajasthan 302015
137 Star City Khokharo Ki Dhani Kalwar Road Beed Hathoj Jhotwara Jaipur
Santosh Choudhary
Rajasthan 302012
302 "Felicity Tower" Plot No 1 Sahkar Marg Opp Jyoti Nagar, Adjoining P.H.E.D
Mohammad Madani
Office Jaipur Rajasthan 302005
Chamber No 345 "E" Block Rajasthan High Court Building Jaipur Rajasthan
Raj Kamal Gaur
302005
Manish Saroliya Office Plot no 384 Gali No. 10 Barkat Nagar Tonk Phatak Jaipur Rajasthan 302015
317 "Felicity Tower" Plot No 1 Sahkar Marg Opp Jyoti Nagar, Adjoining P.H.E.D
Dipannita Mazumdar, Advocate
Office Jaipur Rajasthan 302005
317 "Felicity Tower" Plot No 1 Sahkar Marg Opp Jyoti Nagar, Adjoining P.H.E.D
Liladhar Swami, Ex Judge
Office Jaipur Rajasthan 302005
Mahendra Kumar Sharma, Retd. DJ 317 "Felicity Tower" Plot No 1 Sahkar Marg Opp Jyoti Nagar, Adjoining P.H.E.D
Juge Office Jaipur Rajasthan 302005
Sapan Purohit C-124, Bajaj Nagar, Jaipur Rajasthan 302015
FINOVA CAPITAL PVT. LTD.
CIN : U65993RJ2015PTC048340
Regd. Office : 702, Seventh Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Corp. Office : Fourth Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Tel.: 0141-4118202, www.finova.in, E-mail : info@finova.in
Annexure- I
COMPENSATION DETAILS (Salary & Applicable Benefits)
Salary Annexure
Employee Name Eipula Raju
Department Sales
Designation Relationship Officer
Location Siddipet
Monthly Yearly
Basic 6800 81600
HRA 2720 32640
Salary Component
Bonus/Ex-Gratia 583 6996
Flexi Allowance/ Reimbursements 6897 82764
A Gross Salary 17000 204000
Provident Fund 1644 19728
Deductions ESI 128 1536
Professional Tax 150 1800
Insurance 0 0
B Deductions 1922 23064
C=(A-B) Net In Hand Salary 15078 180936
PF Contribution 1781 21372
Statutory & Other
Benefits by Employer ESI Contribution 553 6636
Gratuity 327 3924
D Total Benefits 2661 31932
E=(A+D) CTC 19661 235932
Note:
*Tax as per applicability of IT Act
*Permissible reimbursements subject to submission of bills as per IT Act shall be adjusted from flexi
Allowance/ Reimbursements.
*Gratuity amount will be paid as per “Payment of Gratuity Act 1972”.
*Insurance amount may be increase and decrease as per premium received by Insurance company.
RO Individual Monthly Business Target:--
1st Month of Joining - 50 times of Gross Salary
2nd Month of Joining - 75 times of Gross Salary
3rd Month Onwards - 120 times of Gross Salary
RO Join till 10th of Month consider his 1st month, after 10th of Month than Next month consider his 1st month
For Finova Capital Pvt. Ltd.
Vipul Tambi
VP- People & Culture
FINOVA CAPITAL PVT. LTD.
CIN : U65993RJ2015PTC048340
Regd. Office : 702, Seventh Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Corp. Office : Fourth Floor, Unique Aspire, Plot No. 13-14, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur – 302021
Tel.: 0141-4118202, www.finova.in, E-mail : info@finova.in
