Date: 06 Dec 2024
Location: BANGALORE
CTC Annexure
Emoluments for the grade of Assistant Manager - Sales for MOHAMMED K
COMPENSATION P.A. (Rs) P.M. (Rs)
Basic 1,07,535 14,300
Basket of Allowance 1,82,909 15,242
Bank's PF Contribution 21,600 1,800
Gratuity * 5,172 431
Location Pay 15,800 900
Statutory Bonus 16,800 1,600
Total Fixed Pay 3,49,816 34,273
Benefits:
Group Mediclaim Policy and Term Life
19,941 -
Insurance
Loan Benefits 69,084 -
Total Fixed Pay + Value of
4,38,841 -
Benefits
Location Pay is dependent on the posted location of the employee and is liable to change in case an employee is
transferred to some other location subsequently.
Details of Benefits
Loan Benefit Eligibility
Rate of
Type of Loan Eligibility Loan Amount (in Rs.) Remarks
Interest
For takeover loans, the
4% repayment will be 240 months
Housing Loan Upon Confirmation 20,00,000 (Compound or the balance service period
Int.) (in months) left, whichever is
less.
For takeover loans, the
repayment will be the residual
period of the original sanction
6%
Vehicle Loan Upon Confirmation 2,00,000 term, or 120 months, whichever
(Simple Int.)
is less, with Principal and
Interest instalments in the ratio
of 7:3.
Note: Loan benefits cannot be encashed if not availed.
Insurance Details
Type of
Insurance Cover (in Rs) Remarks
Insurance
Employee plus 3 dependants are covered under
Group Mediclaim
4,00,000 the floater policy. Additional 2 dependants can be
Insurance Policy
covered for an additional premium.
Group Term Life Only employee is covered, a part of the annual
50,00,000
Insurance Policy premium is borne by the employee
The Insurance coverage under all the above policies will be available subject to completion of all formalities in connection
with your appointment and fulfillment of requirements of the Insurance Company.
The Group Term life insurance cover includes entitlement under the Employee Care Benevolent Fund, for which the
requisite annual contribution will be deducted from your first alary. You shall be covered under the fund scheme until your
active employment status in the Bank. An ex-gratia amount will be payable to the nominee/ legal heir in the event of death
(accidental/ natural) of the employee
Mobile Benefit
You will be eligible for mobile reimbursement (Including Data Service) as per company policy.
Gratuity *
You will be eligible for gratuity payment as per the provisions of The Payment of Gratuity Act i.e. after rendering five years
of continuous service with the Bank or any of the group entities.
Provident Fund
The Bank will contribute an amount equivalent to the prescribed rate towards Provident Fund. An equal amount will be
deducted from your salary and paid to the Provident Fund Trust of Axis Bank Limited.
Voluntary Provident Fund (VPF)
The Bank has a voluntary provident fund scheme wherein you will be eligible to voluntarily contribute to the Provident Fund
Trust, in addition to the statutory requirement. Such contribution is eligible to earn the same rate of interest as statutory
contribution.
Other Benefits
Variable Pay/
Performance linked bonus pay / Annual Incentive Plan (as applicable), will be paid/given as per the
Annual Incentive
Company’s policy, subject to your being a confirmed employee as per the current year policy. The
Plan (as may be
payouts will be based both on individual performance and organization’s performance.
applicable)
