Date: 09 August 2021

APPOINTMENT LETTER

Dear Mr. Ravulapati Nagaraju,

Congratulations and welcome to Vashi Family. We are delighted to have you as a part of our
organization. We are pleased to appoint you as “Relationship Manager” at Level 1 B with
effect from 09 August 2021. Your role and association with us is critical in fulfilling the mission of
our organization. We hope, our association will be professionally meaningful and mutually
beneficial on the following terms and conditions:

Following would be your CTC structure and the terms and condition:-

Components Monthly CTC Annual

Basic 15500 186000
HRA 7750 93000
Uniform Allowance 2000 24000

Conveyance Allowance 2000 24000

Children Education Allowance 200 2400

LTA 3550 42600

City Compensatory Allowance 0 0

Gratuity 0 8943
Festival bonus 0 15000
Gross Salary (A) 31000 395940
Provident Fund 1800
Professional Tax 200
ESIC 0
Deductions (B) 2000
Net Salary per month (A-B) 29000
PF Employer Contribution 21600
ESIC Employer Contribution 0
Fixed CTC 34795 417543

*Festival Bonus: Subject to your confirmation on pro rata basis

TERMS AND CONDITIONS :

1] Following are the CTC components:

A. BASIC: Basic salary is the base income of an individual. HRA and PF calculations are based
on basic Salary. Basic salary is 50% of your Gross Salary.

B. HRA: HRA stands for House Rent Allowance. You earn HRA irrespective of whether you
are paying rent for the premises lived in. It is calculated @ 50% of your Basic Monthly
Salary which you can deduct from your net taxable income thereby reducing your tax
liability by producing Rent receipts for the financial year.

C. Uniform Allowance: You will earn uniform allowance up to Rs. 5000/- based of your fixed
monthly gross. You shall provide bills of formal clothing’s amounting to the uniform
allowance you have earned in the financial year to get exemption under Income tax.

D. Children Education Allowance: You earn children education allowance upto Rs. 200/- per
month based on your fixed monthly gross.

E. LTA: You will earn leave travel allowance upto Rs. 5000/- per month based on your fixed
monthly gross.
You shall submit the travels bills of actual journey along with family members to claim
exemption in TDS.

F. Training Allowance: You will earn training allowance upto Rs. 4000/- per month based on
your fixed monthly gross. You shall submit attended training bills of the year to claim
exemption in TDS.

G. Festival Bonus :
You will be paid a bonus during festive season to enable you to celebrate with your family.
Bonus will be paid @ 8.33% of your Annual Gross Salary earned during the financial year or
Rs. 15,000/-, whichever is lower.

Team Members who have completed at least 6 months of service in the Company at the time of
the festival (Diwali) and are confirmed in their services are eligible for the Bonus. Team
Members with more than 6 months but less than 12 months of service in the Company will be
paid on a pro-rata basis.

Team Members who have taken leave in excess of the HR policies will be paid as per the
discretion of the Management.
I. Performance Bonus

Along with Salary in the month of March, Performance Bonus will be paid to all non-sales Team
Members who have completed minimum 6 months (pro rata basis) if the Company’s Targets and
profits are achieved with the support of the Team Members. Ex-gratia will be announced on the
basis of proportionate Growth in revenue for that particular year.
Sales team members are covered in Sitara Incentive Policy.

J. Gratuity

Gratuity is payable in case of resignation / retirement / death, subject to completion of

minimum 5 years of continuous service with the Company.

Gratuity is calculated as follows:

Basic Salary x 15 / 26 x Number of Years of Completed Service with the Organization.

Our Gratuity is managed by LIC and it takes about 30 days (from the last working date) for the
same to be processed.

2] Statutory Compliances

Provident Fund – 12% of your monthly basic salary will be deducted from your salary and the
same amount will be contributed by the Company and credited to your Provident Fund account
every month.

ESIC – Team Members with monthly gross salary less than or equal to Rs. 21,000/- are eligible
for cover under ESIC. Team Members will contribute 0.75% of their monthly gross salary and
the Company will contribute 3.25% towards the ESIC benefit.

Professional Tax – Professional Tax will be deducted as per your applicable tax slab as per
state.

3] Cover under Mediclaim Insurance:

Team Members not covered under ESIC will be covered under a Group Mediclaim Policy taken
by the Company. Team Members are covered for hospitalization expenses as per below chart ,
this premium is fully paid by the Company :

Salary Slab (Gross Salary) Mediclaim Room/Bed Charges

Coverage
 Rs.21,001/- to Rs.50,000/- PM Rs.2 lacs. Rs.2000/- Per Day
Rs.50,001/- to Rs.1,00,000/- PM Rs.3.5 lacs. Rs.3500/- Per Day
Above Rs.1,00,000/- PM Rs.5 lacs. Rs.5000/- Per Day

Married team members have the option to cover their immediate family members (spouse and 2
children) under the Company’s Mediclaim Policy. If you choose to enroll your family members
under the policy, the Company will pay 25% of the premium and the balance premium (75%)
would be recovered from you in salary. In case of resignation during the year, then the
proportionate premium paid by the employee towards the family members will be paid in your
full and final settlement, and the insurance cover will end from the date of leaving.

4] Group Personal Accident Policy:

The Company has taken a Group Accident Policy for all Team Members. The policy provides
24-hour, world-wide coverage in the event of Accidental Death, Permanent Total Disability and
Permanent Partial Disability.

Eligibility Accident Insurance Cover

Team Members with monthly salary up to
120 Times of Monthly Gross Salary
Rs. 20,000/-
Team Members with monthly salary above 60 Times of Monthly Gross Salary or Rs.
Rs. 20,000/- 25 lacs, whichever is higher

5] Leave Policy

WELLNESS LEAVE

Leave to staff is given by the organization to take time off from work to complete some personal
work, to take care of family and spend time with them and maintain work life balance.

The Leave policy applies to all staff working for Vashi Electricals Pvt. Ltd and all its branches
from the date of joining.

For calculating leave, we will follow the financial year i.e. from October to September
every year.

All Staff can avail leave on demand within prescribed limit total of 28 days of Wellness leave in
the above mentioned period.

Staff can accumulate their Wellness leave and take it together. However, this should not exceed
for more than 10days in a quarter at a time. There will be no carry forward or encashment of
these leave, any balance leave at the end of the year will lapse.
Only 1 leave (unplanned) per month can be taken, remaining all leaves need to be planned and
approved in Zing software by the Line Manager of the person taking leave as consent that he/she
will take care of his/her duty by assigning it to any other team member.

Any leave in excess of 28 days from October to September will be considered as Leave without
pay.

During the period of LWP, the employee is not entitled for any pay or allowance.
Sundays/Bank holidays that fall between vacations will not be counted as part of the leave. (For
example if you take a leave on Saturday and Monday, Sunday will not be counted as part of your
leave)

National/declared/festival/weekly off days can be prefixed and /or suffixed to vacation leave

Unmarried staff can take Birthday leave & Married staff can take Anniversary leave.

6] Maternity Leave Policy

As per the Act, to be eligible for maternity benefit, a woman must have been working as
an employee in an establishment for a period of at least 80 days in the past 12 months.

 The duration of paid maternity leave available for women employees is 26 weeks. Under
the Maternity Benefit Amendment Act, this benefit could be availed by women for a
period extending up to 8 weeks before the expected delivery date and remaining 18weeks
can be availed post childbirth. Employee covered in ESIC can avail this facility in ESIC
Hospital.

 For staff covered under Mediclaim all the hospitalization expenses will be covered as per
the Medical Policy of Bajaj Allianz provided by the company up to a limit of Rs.50000/-.

 Maternity Leave is applicable up to Second Child.

7] Compensatory Offs

Team Members who have worked on a Sunday or any other Bank holidays are eligible for an
extra day’s leave. However, this has to have prior approval by the Line Manager /Reporting
Head of Department with appropriate justification for such extra work and efforts.

8] Retirement

The retirement age is 58 years.

9] Transfer

You will be liable to be transferred to any of the Branches/Establishment Of the Company which
are existing at present or which may come into Existence in future (anywhere in India) or to any
Other position (shift or Department) within the Company or any other Company or establishment
managed and controlled by this Company. On such transfer, you will be governed by the rules,
regulations and bye laws and all other working conditions, term of service applicable to the
Establishment to which you may be transferred without any extra remuneration.

10] Past Records

If any declaration given or information furnished by you to the Company proves to be false or if
you are found to have willfully suppressed or concealed any material information in such cases,
you will be liable to removal from services without any notice.

11] Notice Period

After confirmation of your services, if you wish to leave the employment or if the Company
decides to terminate your services, one month’s (30 days) notice or salary in lieu thereof shall be
given by either side. However, in the event your service is terminated for fraud, theft, or
withholding of information in the application Form or for any other form of misconduct, notice
pay will not be payable.

Also, no prior notice period will be given if the termination is within the probationary period.

For any act/acts of misconduct or acts of omission or commission or negligence, your services
are liable to be terminated. The Company may at it sole discretion hold domestic enquiry to
enquire in to the act/acts of misconducts or other act of omission or commission or negligence
alleged against you. You could be liable for suspension pending inquiry or final orders.

12] After Termination

On termination of your services, you will immediately hand over to the company all
correspondence, specification, documents, cost data, drawing or records, etc belonging to the
company or relating to its business and shall not retain or make any copies of these items.

You will not share your knowledge acquired or join the competitor for a period of 2 years after
termination or retirement.

13] HSSE Policy

Our Health Safety Security Environment policy for the organization is to be Safe, Alert and work
within the policy of the country and our principals.
ON ROAD:
1.Keep your health fit for work.
2.Wear Helmet while driving 2 wheeler.
3.Wear Seatbelt while driving 4 wheeler.
4.Do not Drink and Drive.
5.Do not keep the Mobile on while driving.
6.Drive within speed limit.

IN OFFICE:
1.Keep your health fit for work.
2.Be Alert while you are loading & unloading vehicle.
3.Sit in the right position.
4.Avoid sitting very close to monitor.
5.Do not charge the mobile phone and talk.
6.Do not keep any electrical appliances unattended.
Learn from your near miss and follow the simple rule of safety to avoid Danger to your LIFE.

14] Protection against Harassment

VEPL is committed to provide a work environment that is free of inappropriate behavior of all
kinds and harassment on account of age, physical disability, marital status, race, religion, caste,
sex, sexual orientation or gender identity. Employees are responsible for supporting the
Company in its endeavor to protect others from any form of such harassments.

We promote gender diversity respect to all co-workers, especially women colleagues. Any sort
of harassment, abuse either verbal or any form of communication is strictly prohibited and the
Management will be compelled to take strict disciplinary action including termination.

15] Alcohol & Substance Abuse

The use or possession of alcohol, illegal drugs, and other controlled substances in the workplace
and being under the influence of these substances on the job and during working hours is strictly
prohibited. However, possession of prescription medication for medical treatment is permitted.
There may be company-sponsored events where management approves the serving of alcoholic
beverages. In these cases, all appropriate liquor laws must be followed, including laws regarding
the prohibition of serving of alcohol to those under the legally permissible age.

However, under all such cases, excessive drinking, intoxication and misbehavior at these events
is prohibited and will be dealt with severely.

16] Respect at Workplace

Treat people with courtesy, politeness, and kindness. Encourage coworkers to express opinions
and ideas. Listen to what others have to say before expressing your viewpoint. Never speak over,
but in, or cut off another person.

Use people’s ideas to change or improve work. Let employees know you used their idea, or,
better yet, encourage the person with the idea to implement the idea.
Never insult people, name call, disparage or put down people or their ideas.
Do not nit-pick, constantly criticize over little things, belittle, judge, demean or patronize. A
series of seemingly trivial actions, added up over time, constitutes.

Treat people the same no matter their race, religion, gender, size, age, or country of origin.

Implement policies and procedures consistently so people feel that they are treated fairly and
equally. Treating people differently can constitute or.

Include all coworkers in meetings, discussions, training, and events. While not every person can
participate in every activity, do not marginalize, exclude or leave any one person out. Provide an
equal opportunity for employees to participate in committees, task forces, or continuous
improvement teams. Solicit volunteers and try to involve every volunteer.

Praise much more frequently than you criticize. Encourage praise and recognition from
employee to employee as well as from the supervisor.

Every employee shall be responsible for the implementation of and compliance with the code in
his professional environment. Failure to adhere to the code could attract the most severe
consequences including termination of employment.

17] Sexual Harassment Policy

In case you are intimidated or discriminated by your peers or seniors (especially opposite sex)
seeking unethical favor or behavior, you are requested at first instance to share your issues with
HR Head and seek redressed immediate under section IPC 370. For more information refer HR
Policy in ZING HR.

18] Code of Conduct

Vashi Electricals Pvt. Ltd. has adapted a code of conduct titled “OUR COMMITMENT TO
INTEGRITY”.
Our Code of Conduct sets out the basic rules our people must follow and explains how our
values should guide all of our decisions.

Code of Conduct sets the standard we all work to. It is aligned with our values, group standards
and legal requirements, and clarifies the ethics and compliance expectations for everyone who
works at Vashi Electricals Pvt. Ltd. The Code reflects a values-based approach, where rules are
not stated explicitly and everyday business decisions will be guided by our values.
19] Fraud

Fraud or the act or intent to cheat, trick, steal, deceive, or lie — is both dishonest and, in most
cases, criminal. Intentional acts of fraud are subject to strict disciplinary action, including
dismissal and possible civil and/or criminal action against the concerned Employee

Some examples of Fraud include:

 Submitting false expense reports
 Forging or altering checks
 Misappropriating assets or misusing Company's property
 Unauthorized handling or reporting of transactions
 Inflating sales numbers by shipping inventory known to be defective or non-conforming
 Making any entry on Company records or financial statements that is not accurate and in
accordance with proper accounting standards

20] VALUE ETHICS COMPLIANCE POLICY

Vashi Electricals and its partners (Vashi Group)are committed to conducting its business
lawfully and ethically.

Our values are the principles we use to run the Company on a daily basis. They are so important
that they are the source of our entire Code — a sort of ethical backbone. They are clear and
simple. Our values are the foundation of everything we do. Vashi Group stand for Customer
Value, Honesty, Transparency, Respect for All & Equality.

As the Company’s reputation is the sum of the reputations of its employees, management and
directors, it is critically important that they meet the highest standards of legal and ethical
conduct. To protect the Company’s reputation and to assure uniformity in standards of conduct,
this Code of Ethics has been established as part of its Corporate Compliance Program. This Code
of Ethics establishes the general guidelines with which all the Company employees must comply
to ensure that their conduct conforms to the highest ethical standards and is in accordance with
all applicable laws, rules and regulations. These general guidelines are not meant to cover all
situations. Any doubts whatsoever as to the propriety of a particular situation, whether or not the
situation is described within this Code of Ethics, should be submitted either to an immediate
supervisor or to the Corporate Compliance Committee. The intent of the Corporate Compliance
Program is to safeguard the Company’s tradition of strong moral, ethical and legal standards of
conduct and to minimize any potential for employees to engage in unlawful or fraudulent
conduct affecting the organization, and to assure upon such conduct, that these matters are
handled appropriately, including reporting to the appropriate authorities.
Scope

All personnel, whether directly employed or contracted, as well as volunteers and interns.

Compliance with all laws and regulations

All of the Company’s employees and directors must scrupulously comply with all Central, state
and local laws and government regulations. Any actual or perceived violation of this Code of
Ethics, the Corporate Compliance Program or any other the Company policy must immediately
be reported to the Company’s Compliance Officer, on behalf of the Directors.

A) Dealing honestly with customers, other suppliers and consultants

i.) Quality of Service

The Company is committed to providing products and services that meet all contractual
obligations and quality standards.

ii.) Providing Business Courtesies to Customers or Sources of Customers

The Company’s success in the marketplace results from outstanding customer support services.
The Company does not seek to gain an improper advantage by offering business courtesies such
as entertainment, meals, transportation or lodging to potential referral sources or purchasers of
any items or services furnished by the Company. Employees should never offer any type of
business courtesy to a referral source or purchaser for the purpose of obtaining favorable
treatment or advantage or to induce such person or entity to purchase or order any items or
service from the Company.

To avoid even the appearance of impropriety, representatives of the Company must not provide
any referral source or purchaser with any gifts, meals, or promotional items that have more than
a nominal value of greater than Rs.1,000/- without the express approval of the Company’s
Compliance Officer.

B) Avoiding abuses of trust

The Company expects its employees to avoid engaging in any activity that might interfere or
appear to interfere with the independent exercise of the person’s judgment in situations where the
individual’s personal interests might detract from or conflict with the Company’s best interest or
the interests of the Company’s customers or suppliers.

i). Conflict of Interest

No representative of the Company may have any employment, consulting or other business
relationship with a competitor, customer or supplier, or invest in any competitor, customer or
supplier (except for moderate holdings of publicly traded securities) unless advance written
permission is granted by the Compliance Officer on behalf of Directors. Advance written
permission of the Compliance Officer, on behalf of the Directors, also is required before an
individual may invest in any privately held company or entity that performs services for the
Company or that employs providers who may refer patients to the Company.

ii). Acceptance of Business Courtesies

Never accept anything of value from someone doing business with the Company or someone
whose services are subject to the Company’s review if the gratuity is offered or appears to be
offered in exchange for any type of favorable treatment or advantage. To avoid even the
appearance of impropriety, do not accept any gifts or promotional items of more than nominal
value. Gifts received which are valued in excess of Rs.1,000/- must be reported to the
Compliance Officer. A representative may accept meals, drinks or entertainment only if such
courtesies are unsolicited, infrequently provided and reasonable in amount. Such courtesies must
also be directly connected with business discussions, unless an exception is approved by a
supervisor. Do not accept reimbursement for lodging or travel expenses or free lodging or travel
without the express written approval of the corporate officer responsible for the unit or group.

C] Non-Disclosure and Confidentiality Policy

The shareholders, directors and Key Managerial Personnel (“KMP”) of the company are and
shall be restricted to share or vest, whether directly or indirectly, their business knowledge,
clients information, financial or taxation methods, practices and application, product pricing,
manufacturing methods and secrets, management techniques, financial, marketing,
manufacturing or consumption data, etc. acquired or became aware during the course of his or
their association or employment with or in the management of the Company, with any
competitor or the vendor or customer of the Company, as referred hereinabove, for a period of 3
(three) years after the date of effective termination, removal, resignation or retirement or other
disassociation with this Company.

The employee will preserve the confidentiality of information obtained during their employment
at the Company. Employee may not use audio or video equipment to record these meetings
without prior authorization. Information of this nature must be treated responsibly and any
arbitrary or careless disclosure is prohibited even after the employee ceases to work for the
Company. Confidential information can be used for Company purposes only.

Unless the Company has provided its consent in writing, or there is a legal duty to disclose, the
employee is prohibited to disclose confidential Company information. Information about our
company, our clients and our staff which has been gained through employment or affiliation with
us, cannot not be used for personal or third party benefit. If the company found any of its
employees breaches Non-disclosure clause or disclosing confidential matters to third party the
company is legally lawful to take appropriate legal actions against the employee as per the
directives issued by the board.
D) Non Competitive Clause.

The shareholders, directors , employees and other Key Managerial Personnel (“KMP”) of the
company hereinabove shall be restricted or prohibited to start any business or activity having
same kind, nature or description similar to that of this Company or join, whether directly or
indirectly, any competitive company, firm or any other entity at any time earlier than at least 3
(three) years without the prior written consent of the employer, after the date of effective
termination, removal, resignation or retirement or other disassociation with this Company as
referred to above. If the company found any of its employees breaches Non Competitive clause
or disclosing confidential matters to third party the company is legally lawful to take appropriate
legal actions against the employee as per the directives issued by the board.

Report to Directors

At least annually, the Corporate Compliance Officer shall report to the Company’s Directors
concerning: (1) the Company’s adherence to the standards of legal and ethical conduct contained
in the Code of Ethics; and (2) the Compliance Program, generally.

Reporting violations and discipline

Strict adherence to this Code of Ethics is vital. Supervisors are responsible for ensuring that
employees are aware of and adhere to the provisions of the Code of Ethics. For clarification or
guidance on any point in the Code of Ethics, please consult the Compliance Officer.

Employees are expected to report any suspected violations of the Code of Ethics or other
irregularities to their supervisor or the Compliance Office within five (5) working days. All
reports must contain sufficient information for the Compliance Officer to investigate the
concerns raised. No adverse action or retribution of any kind will be taken by the Company
against an employee because he or she reports a suspected violation of this Code of Ethics or
other irregularity by any person. The Company will attempt to treat such reports confidentially.

Upon receipt of credible reports of suspected violations or irregularities, the Compliance Officer
shall immediately begin a detailed investigation and take corrective action where appropriate.
Violations of the Code of Ethics may result in discipline ranging from warnings and reprimand
to discharge or, where appropriate the filing of a civil or criminal complaint.

21] MISCONDUCT

Without prejudice to the general meaning of the term misconduct, any act of omission or
commission or negligence or breach of rules, regulation, by-laws, instructions or procedures of
the Company for the time belong in force or confidentiality clause would be treated as
misconduct.
22] DISCIPLINE

You will submit yourself to the orders of the company and of the officers and authority under
which the company may from time to time place you. You will be governed by the Rules,
Regulations, Bye-laws, instruction and procedures prescribed by the Company from time to time.
You will employ yourself efficiently and diligently to the best of your ability and will devote
your whole time to duties of the company and will not engage yourself directly or indirectly in
any service, tirade, business, vocation or occupation (including agency or an Insurance company)
or in an advisory capacity.
You will not, except in case of accident or sudden illness certified by the competent medical
authority, absent yourself from duties

Without having first obtained permission from the Company’s authorized officers.
If you are absent from the duties of the Company without prior written permission or overstay
the sanctioned leave for eight consecutive days, you will be deemed to have abandoned the
service voluntarily without giving due notice and your name will be struck off the rolls.

23] General

You will be required to carry duties from time to time as per the requirements of the Company.
In case you are incapacitated by reason of illness, accident or any other cause and cannot
perform your duties, the company may at its sole discretion grant leave for a reasonable time on
full pay or half pay or without pay or terminate your services.

All promotions and demotions will be at the sole discretion of the Management of the Company,
depending upon your efficiency.

Your employment shall also be governed by Rules and Regulations lay down by the
Management from time to time. In case you are appointed in the Company through a Placement
reference, the cost borne by the company for the same will be equally shared by the employee
and the company.

A Formal Dress code should be adhered to from Monday to Saturday except on Public Holidays
falling therein.

No withstanding anything above, depending upon the aforementioned work, the company
reserves its right to extend your appointment for such period or periods as may be necessary
depending upon the exigencies relatable to the work for which you are hereby engaged. In that
event, the company shall in writing extend your assignment on the terms as may be indicated in
such letter and in the event of your acceptance of such extension of the assignment you shall be
governed by such terms and conditions as may be indicated therein.
We are consciously endeavoring to build an atmosphere of trust, openness, responsive, autonomy
and growth among all members of the Vashi family. As a new entrant, we would like you to
whole heartedly contribute in this process.

We congratulate you on your appointment and wish you a long and successful career with us.

As a token of your acceptance of the above terms & conditions, you are requested sign the
duplicate copy of this letter and return to us.

We look forward to your long term association with our organization.

Yours faithfully,
For Vashi Integrated Solutions Ltd.

Vishwaja Subodh Parulekar

Head HR

I hereby accept employment on the terms and conditions mentioned in the above Letter of
appointment

Employee Name:- Ravulapati Nagaraju Date: 04 July 2022.