WidasConcepts India Pvt. Ltd.

Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,

Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778

EMPLOYMENT LETTER

Thursday, February 24, 2022

Bangalore
Dear Atul Nigam,

It is with pleasure that we extend the following offer of employment to you as Senior Software
Developer, at WidasConcepts India Private Limited (the “Company”). You would be paid a cost-to-
company (CTC) amount of INR. 40,50,000/- (Forty Lakhs Fifty Thousand Rupees Only)

1. You are required to join on or before 2nd March 2022 at WidasConcepts Bangalore, in the Work
From Home Mode and later in person as per Company guidelines on the current pandemic.

2. Unless we mutually agree otherwise in writing, you will commence employment on 2nd March 2022.
This offer is contingent on candidate joining on or before 2nd March 2022.

3. Your employment with us shall be governed by the specific terms and conditions referred in
Annexure-A, and any amendments made thereof or any other terms and conditions as may be
communicated to you during your employment with us.

4. Your annual gross salary along with the break-up of salary and benefits is attached herewith in
Annexure - B.

5. This offer is contingent upon your ability to provide us the copies of the documents as per Annexure
- C.

6. The tax structure of the company would be as per the provisions of the Indian Income Tax Act, a
standard break up of salary which is applicable to the entire company would be provided to you. The
tax structure is designed considering the tax benefits an employee would get and also it complies
with all the provisions of the Income Tax Act. The tax structure or break up document would be
given subsequently.

CIN:
 WidasConcepts India Pvt. Ltd. Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,
Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778

We welcome you to WidasConcepts India Private Limited and look forward to a long and mutually
beneficial association.

We look forward to your accepting the offer and coming on board.

Warm regards,

For WidasConcepts India Private Limited

Sanjay Maniangode

CEO, India

CIN:
 WidasConcepts India Pvt. Ltd. Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,
Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778

Annexure - A

Terms and Conditions of Employment

1. Working Hours: Working hours of the company are 10:00 AM to 6:00 PM Monday to Friday.
There may be exceptions either ways based on management discretion and team dependency.

2. Guidelines concerning inventions and improvements: Any invention, improvement or designs

conceived by you while in our employment, which is within the existing or contemplated scope
of the business of the Company, shall become the Company’s exclusive property as per Section
17
(c) of the Indian Copyright Act, 1957. For purposes of this section the expression “the Company”
shall in addition to WidasConcepts India Private Limited, mean and include any firm, person or
company subsidiary to or affiliate with the company or business partners.

3. Confidentiality Agreement: You are required to strictly maintain the confidentiality of and not to
divulge or communicate in any manner, any information regarding your remuneration/terms of
employment to any other person and in particular to any employee of the Company. Such
disclosure will be viewed seriously and you are liable for disciplinary action as per rules of the
Company.

4. Proprietary Information: You will not disclose to anyone outside the Company, and will not use
except in the business of the Company, any confidential, proprietary or secret information or
material relating to the products, services, customers or business operations, personnel or
activities of the Company, its licensers, or its clients, any formulae, processes, methods,
machines, composition, ideas (collectively, “Proprietary Information”), either during or after
employment by the Company in perpetuity, except with the written permission of the Company.

5. All Proprietary Information (whether or not learned, obtained or developed solely by you or
jointly with others) shall remain the property of the Company, and that upon termination of
employment or at any earlier time as requested by the Company, you will immediately deliver all
Proprietary Information in your possession or control to the Company.

6. Leave Policy: You will be eligible to all leaves as per company leave policy.

7. Adherence to rules and regulations: During your employment with the Company, you shall be
subject to, and have to abide by, the rules and regulations stipulated by the Company. The
Company may, at its discretion, modify from time to time, the rules and regulations, as it deems
fit.

8. Former Employer: In the event, you become a party to any proceeding brought by any former
employer of yours at any time during or after your employment with the Company, you
recognize and agree that you shall have full and sole responsibility for responding to such action
and that the Company has no responsibility to participate in your response nor in your cost of
such response.

9. Conflict of Interest: All employees would be required to report to the Company if any member of
his family, or close relatives, is engaged in any trade or business which supplies goods and/or
services to the Company, or are dealers of distributors for the Company or have any other type
CIN:
 WidasConcepts India Pvt. Ltd. Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,
Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778
of

CIN:
 WidasConcepts India Pvt. Ltd. Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,
Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778

business relationship with the Company. You would also be required to intimate the management
if any family members or close relatives are engaged in similar or competitive line of business.

10. Withholding Taxes: All forms of compensation referred to in this letter are subject to reduction
to reflect applicable withholding and other taxes applicable in India.

11. Exclusivity, Non-Compete and Non-Solicitation: While you render services to the Company, you
will not engage in any other gainful employment, business or activity without the written
consent of the Company. While you render services to the Company, you also will not assist any
person or organization in competing with the Company, in preparing to compete with the
Company or in hiring any employees of the Company. During the term of your employment with
the Company and for a period of 12 months thereafter immediately following the termination of
your employment with the Company for any reason, whether with or without cause, you shall
not either:
 Directly or indirectly solicit, induce, recruit or encourage any of the Company's employees to
leave
 their employment, or join any other employment or undertake any other activity that is of
similar nature so as to give any sort of competition to the business of the Company;
 Take away any clients or customers of the Company or attempt to solicit, induce, recruit,
encourage or take away clients or customers of the Company, either for yourself or for any
other person or entity;
 Join the services or be associated with any former employee of the Company who is
undertaking or seeks to undertake any activity competing with the business of the Company.

12. No restrictions: By signing this letter agreement, you represent and warrant to the Company that
you are under no contractual commitments inconsistent with your obligations to the Company.

13. Amendment and Governing Law: This letter agreement may not be amended or modified except
by an express written agreement signed by you and a duly authorized officer of the Company.
The terms of this letter and the resolution of any disputes will be governed by Indian law.

14. Notice period for termination of employee services: The notice period will be two
months (exclusive of any leaves availed during the period). Notice period is measured from the
date of notice of termination of employee’s services to the date of actual dismissal of employee
from the Company’s service. In case of dismissal of services initiated by the employee before the
stipulated notice period ends, the employee will pay the pro-rata ‘notice pay' in lieu thereof to
the Company. In case of dismissal of employee’s services initiated by the Company, the Company
will pay 1 months pro-rata 'notice pay' to the employee unless the dismissal of the employee is
due to disciplinary or non-performance reasons. ‘Notice pay’ is defined as the wages earned by
the employee during the notice period. Company holds the right to accept or deny payment in
lieu of the said notice period.

15. Probation Period: Your position is subject to a six-month probationary period during which your
performance and suitability for employment will be evaluated. It is understood that the
probationary period is designed to determine your suitability for continued employment by
assessing your skills, performance and interpersonal relationships. Employment may be
terminated at any time in this probationary period without notice or pay in lieu of such notice by

CIN:
 WidasConcepts India Pvt. Ltd. Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,
Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778

the employer while the employee needs to pay a minimum notice period defined by his/her
project manager that shall not exceed one month.

16. Company Assets: During your employment with the Company, any company assets provided to
you should be maintained in good working condition and you shall personally return the items to
the management prior to ceasing employment with the Company or when requested to return
laptop to the Company for security updates/repair or replacement. Based on the conditions of
the items returned your full and final settlement will be initiated by the management.

17. Work from Home Guidelines Under Pandemic Situation : During your employment with the
Company, due to the current pandemic condition you will need to comply with all the work from
home guidelines defined by the Company and effectively contribute to achieve company goals.
You would need to be reachable on all communication channels during business hours (including
your contact number) for official purposes failing which your employment will be subject to
termination by the Company without notice. We encourage you to share alternate contact
numbers while working from home under the given pandemic situation.

Signature:

Name:

Place:

Date:

CIN:
 WidasConcepts India Pvt. Ltd. Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,
Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778

Annexure – B

Name: Atul Nigam

Designation: Senior Software Developer

WidasConcepts India Pvt. Ltd.

SN Particulars Description Annual Monthly
1 Basic 50% of Total Earnings ₹ 17,61,882.50 ₹ 1,46,824.00
2 HRA 40% of Basic Salary ₹ 7,04,753.00 ₹ 58,729.00
3 LTA 8.33% of Basic Salary ₹ 1,46,765.00 ₹ 12,230.00
12% on 15000 (min. wage
4 PF Contribution - Employer ₹ 21,600.00 ₹ 1,800.00
ceiling as per PF Act)
5 Special Allowance Remainder ₹ 8,88,764.50 ₹ 74,064.00
Total Earnings ₹ 35,23,765.00 ₹ 2,93,647.00
6 Deferred Income Plan* 10% of Annual Guaranteed Cash ₹ 3,91,529.00 *
7 Gratuity** 15/26 of the one month basic salary ₹ 84,706.00 *
Annual Guaranteed Cash+Gratuity ₹ 40,00,000.00 ₹ 2,93,647.00
Other Benefits
Medical Insurance
8 Per family Approximate premium cost ₹ 50,000.00 *
premium
TOTAL COST TO THE COMPANY (CTC) ₹ 40,50,000.00 ₹ 3,37,500.00

*DIP is paid out to all employees based on company policy.

** Gratuity will paid as per the Gratuity Act 1972

CIN:
 WidasConcepts India Pvt. Ltd. Unit-‖, Ground Floor, SJR HUB, Sarjapur Road, Bellandur,
Bangalore – 560103 [email protected] http://www.widas.in Tel: 080 6900 1778

Annexure – C

CHECKLIST OF DOCUMENTS

At the time of joining, you are requested to submit the scanned copies of the following original
documents:

1. Certificates supporting your educational qualifications along with marks sheets (10+12+
Graduation + Post Graduation + Course Certifications)

2. Your relieving letter from your present organization. This is a mandatory document.

3. Copy of the Experience Letter from your present organization.

4. PAN Card Copy. This is a mandatory document without which the salary processing will not be
done. If you do not have a PAN number, please apply for one and procure the card from the IT
department.

5. Present Address Proof & Permanent Address Proof- Aadhar Card

6. Three (3) Passport Size color photographs (Recent).

7. Taxable Income Statement duly certified by previous employer (Statement showing deductions
& Taxable Income with break-up)

8. Two references (Senior Level)

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