1. GHCL
HR Policies Group Insurance Schemes & Retirement Benefits Applicable as in May 2014
Vapi

2. Philosophy
HR Policies, currently in force were amended in April 2012 or later. They have been modified based on the core values of the organisation and it is expected that the company and employees will adhere to these values in all mutual transactions minimising the need for extensive documentation.
All Chapters of HR Policy & Procedure Manual and major amendments have been uploaded on GHCL Connect and accessed from the home page \ HR Corner.
11/15/2018

3. Part 1
H R Policies

4. Perks Brief Case – Entitlement – Level 3 and above but need based.
Entitlement Limit
Level 3 to 5 - Rs. 2000
Level 6 to 7A - Rs. 3000
Level 8 to Rs. 4000
Level 11 & Above - Rs. 5000
Life period of brief case is fixed at 3 years.
First / Replacement request for a brief case is to be submitted to HR Department through HOD only.

5. Mobile Phone Entitlement - Need based Level - Handset price limit (Rs)
13 & Actual
11 &
09 &
07, 7A &
05 &
01 –
Below
Life period of a handset is fixed at 3 years. Occasional servicing / battery replacement cost will be borne by the company if required.
In exceptional cases, if phone is found to be damaged beyond repair by Admn. Dept during the 3 year period, replacement will be given without any recovery from employee.

6. Others Marriage Gift – Rs. 2,100/- Short Term Loan
Objective – To help employees in urgent & unexpected financial needs.
Entitlement – Equal to 3 months basic salary. Recovery in 24 EMIs.
Can apply for another STL 6 months after full repayment of one such loan.
Education Subsidy Scheme
Eligibility – 3 years service in the company.
Coverage – Professional courses relevant to role & function of employee as well as to the company business.
Course Fee Limit – Rs Lacs.
Disbursal – 50% on registration and 50% on completion of course.
Bond period – years – starting from reimbursement of final 50% of fee.

7. Rewards & Recognition On the Spot Award Exemplary Award
To recognise and reward exceptionally good performance in executing a task. Merit for this award is decided by the Reporting Manager and the employee is awarded on the spot with a cash reward of Rs. 500/- . During , 61 On the Spot Awards were given.
Exemplary Award
To recognise and reward exceedingly good continuous performance in one’s functional area or contribution in one activity which made a significant impact to the organisation. Currently, rewarded with a cash reward of up to Rs. 5,000 along with an appreciation letter from the Managing Director. During , 08 Exemplary Awards were given.
Long Service Award
To commemorate 10 years of service in the organisation. During 2013, 07 employees completed 10 years and were given the awards.

8. Rejuvenation Initiatives
Common Programmes
Company contributes Rs. 250 per year for all employees to organise programmes such as Deepavali, Holi, New Year etc.
Officers Club’s Programmes
Company and employees give monthly contributions equally as given below to the fund to organise programmes like Get-togethers, Employee / Family Picnics, Sports events etc.
7A & above - Rs. 200
5 to Rs. 150
1 to Rs. 100
Staff - Rs. 50
Both common programmes and Officers Club programmes are organised by Utsav / Celebration Committees at each major location.

9. Part 2
Insurance Policies

10. Family Mediclaim
Insurance Provider - United India Insurance Company Limited.
Administration - Veraval Branch office
Third Party Administrator - Genins India
Administration - Ahmedabad Branch Office
Coverage – Employee and 5 dependent family members (Spouse, 2 dependent children and employee’s parents). Other relatives not eligible to be covered.
Annual coverage limit on Floater basis.
Level 8 & Above - Rs. 6 Lacs
Level 1 to 7A - Rs. 3 Lacs
Staff & Sub-staff - Rs. 2 Lacs
Generally, minimum 24 hours of hospitalisation necessary to be eligible to claim benefits.
Post hospitalisation expenses for 60 days from discharge covered under the policy.
Pre hospitalisation expenses such as consultation, tests etc. if led to hospitatlisation are also eligible for reimbursement.

11. Family Mediclaim - continued
Daily Room Rent Limit - 1.5% of Coverage
Time Limits to be adhered to:
Intimation of admission - Within 24 hours.
If on cashless basis, hospital will intimate.
If on reimbursement basis, employee has to intimate.
Intimation to be given to Ahmedabad Office of TPA.
Submission of claim on reimbursement basis - Within 15 days of discharge (hospitalisation & pre-hospitalisation charges)
Post hospitalisation expenses - Within 75 days of discharge.
All documents are to be submitted in original viz. hospital bills, discharge summary, prescriptions, medicine bills, X-Rays, Test Reports etc.
Expenses of non-medical nature, consumables not covered under reimbursement.
If intimation of admission is not given within 24 hours or claim documents are not submitted within the specified time limits, Insurance Company will not be legally bound to honor the claim.
Authority to take the final decision with regard to admissibility of a claim rests with the Insurance Company under IRDA regulations. GHCL, as the policy holder, can not influence such decisions.

12. Group Personal Accident Insurance Scheme
Coverage is available for employee only.
Limit – Up to 200 times of basic salary for executive cadre and up to Rs. 4 Lacs for staff / sub-staff categories.
Provides risk cover on 24 x 7 basis.
Loss of pay compensation available for period of absence from work due to accident. Benefit limited to 1% of 48 months basic salary or Rs. 7,500/- whichever is less for executives and Rs. 1,500/- for staff / sub-staff.
Intimation of an accident is to be given to the Insurance Company within 24 hours of the incidence.
Claim documents for loss of pay compensation to be submitted within 30 days of discharge / recovery of the insured.

13. Group Term Assurance Scheme
Service Provider in – Birla Sunlife
Renewed from – 1st June 2014.
Coverage is available for executive level employees only.
Policy provides life insurance cover against death, permanent / partial disability due to accidents or other reasons.
Limit – Up to 30 times of basic salary.
Provides risk cover on 24 x 7 basis.
Intimation of death / accident is to be given to the Insurance Company within 24 hours of the incidence.

14. Employee Deposit Linked Insurance
EDLI is linked with Provident Fund and is a statutory insurance policy available to all employees.
An employee who contributes to the Provident Fund is automatically covered under EDLI Policy.
Coverage amount of Rs. 1,32,000/- is payable to the nominee on death of employee. Not payable on partial / full disablement.
Not limited to death by accident only.
No change in coverage amount on account of age, service period, level, salary range etc.
Current policy is taken from ICICI Prudential.

15. Part 3
Retirement Benefits

16. Provident Fund Rate of Contribution
As per the current PF rule, 12% of Basic Salary & DA is contributed by both employee and employer. Out of the 12% of contribution of employer, lower of Rs or 8.33% is deposited in Employee Pension Scheme.
Deposit
EPF Contribution is deposited every month in GHCL PF Trust. EPS contribution is deposited with Reg. PF Office. Employee, in addition can contribute additional amount as VPF (no matching contribution from company is payable).
Taxation
Contribution to PF and VPF by employee is exempted from tax under section 80C of IT act.

17. Superannuation Administration
Managed by GHCL Superannuation Trust. Currently, Funds are being managed by ICICI Prudential, which invests funds in Debt and Equity Markets on behalf of the Trust. Exposure limit to equity decided by Trust.
Disbursal / Claim Methodology
Entitlement 15% of basic salary up to annual contribution of Rs. 1 Lac.
On retirement / separation, maximum 33% can be withdrawn in lumpsum. Balance OR 100% of accumulation to be used for pension.
Commuted 33% is taxable amount for employee except in retirement cases.
Service 3.09% is deductible on conversion of accumulation to annuity.
Pension received is a taxable amount for the individual.

18. Gratuity Administration
Managed by GHCL Gratuity Trust. Currently, Funds are being managed by HDFC Standard Life, LIC etc. which invest funds mostly in Debt market and Govt. Securities.
Rate of entitlement
15 days basic salary for every completed year of service.
Disbursal / Claim Methodology
Disbursed as part of the full and final settlement account with the company. If service rendered is less than 5 years, gratuity is not payable.
Taxation
Exempted from tax up to Rs. 10 Lacs. (Gratuity earned from previous employments are also included to compute the exemption limit of Rs. 10 Lacs).
(Similarly, leave encashment received by employee on separation is tax exempted up to Rs Lacs – on combined employments).

19. Thank You