Budget Format No: HR/SOP/02/04 LETTER OF APPOINTMENT FOR A PERMANENT POSITION Name: Mr.Muralikrishnan.M Page| 1 address: #f 18/12, Venkaateshwara Nagar Velachery Chennai 600 042 Dear Mr.Muralikrishnan.M Date: 29.10.15 This refers to you application and the subsequent discussion/ interviews you had with us. We are pleased to offer you an appointment as Designer Draughtsman The terms and conditions applicable to this appointment are recorded below for your consideration and acceptance. Place of Work: You will be posted at our Head office located at Arumbakkam and shall report to the CEO. Your duties may be varied from time to time and your services are liable to be transferred either temporarily or permanently, to any of our offices within the state or India, at the entire discretion of the Company. In the event of a transfer, you would be governed by the terms and conditions applicable to your category of employees at the place of transfer unless otherwise specified in writing. Probation: You will be on probation for a period of six months from date of joining. During the said probation period jv: gerformance shall be monitored and the review will take place at the end of your pre*ation. You may be offered a permanent position in the company if yo--r performance is found to be satisfactory during the said period. You will continue to be on probatig 4 time you are confirmed in the employment of the company in writing. ‘Desiquer furniture at Budget Prices" Vikas Plaza, 37-C, Velachery Tambaram Main Road, Vijay Nagar, Velachery, Chennai - 600 042. Tel : 22435317 | 22435355 Fax : 91-44-22435423 e-mail : info@budfurn.com Website : www.budfurn.com © TIN No. 33580985050 ® CST No. : 847733 Dt. 07-06-04 Area Code 050Page |2 Budget Fumitue 3. Responsibility and Accountability: You will be responsible for achieving planned results in terms of quantity and quality and as required by our external as well as internal customers. In this regard detailed job description will be given to you at the time of you joining the company, 4, Performance Expectations The Company and its Management expect a performance from you of the highest order and would be pleased to accord to you due recognition based on merits not only in regard to specific performance éxpected from you, but also in your cultivating excellent relations with your colleagues, sub-ordinates, superiors and most importantly our customers. 5, Compensation and benefits: Details of your compensation and benefit package (Cost to Company) are as mentioned in the annexure. The compensation and benefits package would include your salary and both statutory and non statutory benefits applicable to your cadre. You are entitled to all National and Festival holidays as declared by the company and leave as per the leave policy of the company. Increments, which are linked to performance, will be at the sole discretion of the Management. You will be governed by the terms and conditions of service as may be in force from time to time. 6. Rules and Regulations: During you: employment with us you shall be subject to rules and regulations, as are made by us from time to time at our discretion, such rules being notified from time to time and will be applicable to you at all times, whether they are individually notified to you or not. You will be eligible forPage |3 10. 11, Buiges Fumie probationers the number of days entitlement during the first calendar year shall be on prorate. Leave for probationers would be granted case on case basis. Unused Leave can be encashed Notice Period: During the period of probation your services may be terminated by either side and cither party is not bound to give any reason therefore. After the confirmation, your services can be terminated on one month notice on either side or salary in lieu thereof and either party is not bound to give any reason therefore. When either side offers the payment in lieu of notice, the notice pay shall mean the basic salary only and does not include any other allowance(s). Age of Retirement: Please note that unless your services come to an end on account of resignation/ termination, you will retire on completion of 60 years of age. Medical Fitness: This offer of employment is subject to your being found medically fit by a Doctor appointed by us at the commencement of your employment with us, you shall, at any time in future subject yourself to medical examination as may be directed by us to ascertain the state of your health and medical fitness to carry out your employment with us. No Simultaneous Employment:. While in the employment of this company you will not, under any circumstances, be permitted to work for any other organization company / firm or persons, either whole time or part-time, nor in any way be associated with any firm or persons as Advisor, Director, Partner, whether paid or not for your services, without the prior written permissignaf the company. BSI LS DPage | 4 2 Budget Forni In case this condition is contravened, you shall be deemed to have voluntarily resigned from our employment with effect from the day our communication in this regard is posted or delivered to you. Secrecy _as to the affairs of the Company: You shall not, during the term of your ‘employment with the company or at any time thereafter, use or disclose to any other Company, institution, firm or person any of the secrets, business or affairs of the Company. You shall not without the previous consent of the Company at any time during the currency of this contract, publish any book, booklet, brochure or pamphlet, or contribute any article to any newspaper or publication whether for remuneration or otherwise relating to the affairs of the Company or to your work in the Company. Further you shall not, without prior permission in writing and unless it is a part of your day to day work, take any papers, books, drawings, photographs, instruments, computer software/ hardware material, softcopies of confidential matter, programs, saved on floppy disks/pen drives or any other electronic storage devices, or hard copies of all such matters, documents or any other property of the company out of the works premises, nor shall you in any way at any time/ s disclose, divulge or make public any information or matter concerning the processes, services, quality methods, accounts, transactions, dealings, trade secrets of the company whether the same may be confided in-you or become known to you in the course of your employment with us or otherwise. It is important that you shall keep confidential, during or after you service with the company any information acquired tothe company and any related activities.Page | 5 Budget Forni. 13. Discovery of Secret processes or Invention: Any discovery or invention of secret process or improvement in procedure made or discovered by you while in the service of the Company (in connection with or in any way affecting or relating to the business of the Company or capable of being used or adapted for use there or in connection therewith) shall forthwith be disclosed to the Company and shall belong to and be the absolute property of the Company. All patents and rights secured in the course of your work shall be in the name of the Company and shall belong to, and be the absolute property of the Company. 14, Information Technology: You are expected to act in a responsible and professional manner when you use the internet, email, and other company facilities. You shall not attempt to disrupt, degrade, or interfere with the normal operation of any information technology service or facility. 415. Payment of Salary: In accordance with the usual practice of the Company, your salary will be paid by cheque. This mode of payment is employed with a view to keep confidential the salaries of staff in our organization, and you are requested not to disclose the terms of your employment to others and, in particular, to the employees of the Company and of our other subsidiary / associated Companies. All problems relating to your emoluments should be referred to your Head of the Department or the undersigned personally or by letter addressed either to your Head of the Department or to the undersigned, 16, Termination of this agreement: Either party shall have the right of terminating this agreement by giving the other notice in writing to that effect or payment of salary in lieu thereof and either party is not bound to give any reason therefore, as has been mentioned in the sub paragraph, ause 8 above.Page | 6 Budget Famine 17. Handing over charge of Company's property on Resignation /Retirement / termination of employment: You shall be bound at the termination of this Agreement, however terminated, to return to the Company all the properties of the Company in your possession and correspondence which you may have conducted, whether semi-officially of otherwise, in connection with the business of the Company or on its behalf. As such, the moment you cease to be an employee of the Company, or the moment you are transferred trom your place of posting at the relevant time, you shall immediately hand over all such properties to the company. In the event of your failure to return to the Company any of its property / assets referred above, you would be deemed to have committed the offence of criminal breach of trust and the Company shall be free to initiate legal proceedings against you in an appropriate forum, besides claiming liquidated damages for with holding Company property / assets, intellectual property in an unauthorized and illegal manner. 18. Residential Address: Your current and permanent residential address, telephone number and the e-mail address given in the company application form shall be deemed to be correct for sending any communication to you. Every communication addressed to you at the given residential address and / or telephone number and/ or e-mail address will be deemed to have been communicated to you. 19. Change in Address In case there is any change in your current or permanent residential address, telephone number or the e-mail address you shall intimate the same in writing to the human rescurces department within five days from the date of such change. 20. Dispute: Any dispute arising under this letter of offer/ acceptance shall be referred by binding arbitration under the Agb ation and Conciliation Act of 1996 by the sole a5 EU SBudget Rumaiituse. arbitrator, who shall be appointed by the Chief Operating Officer of Budget Furniture at Chennai, 21. Acceptance: of the offer: If the aforementioned terms and conditions of this appointment letter is acceptable to you, please attest your signature on the duplicate Page |7 copy of this order as a token of your acceptance. We welcome you to our company. For Budget Furniture (i) 1 do hereby accept the appointment order offered to me. | declare that | have read the terms and condition of this appointment order and | understand its contents clearly. (ii) Thereby agree and accept the terms and conditions stipulated and | will report to. work with effect from 2a ho ys ate: 24 freh raw 2a leh hued: be Place: * Employee's Signature henna!