HR Policy Manual 12.

Transfer Policy

1 Objective:
1.1 To provide a defined process for transfers across locations and to
accelerate Employee movements under mobility.
1.2 Provide career opportunities and challenging assignments for Internal
Talent through cross-functional movements to develop Talent for future
roles.

2 Scope:
2.1 All Regular L Level and equivalent Employees across all Locations in
the company.
2.2 In the event of transfer or movement under mobility to different location,
within the company.

3 Conditions Applicable
Any transfer which results in dislocation of an Employee and family from
one location to another.

4 Transfer to other Location:

Based on organizational requirement Employees may be transferred from
one location to other. In such a situation, the following benefits can be
availed by the Employee, on his transfer. The below mentioned option can
be exercised if the Employee is required to move his/ her belongings and
family to a new location consequent to the transfer.

4.1 Transfer Benefits (Monthly payment):

Level Mumbai / Delhi Bangalore/Hyderabad/ Other locations
Pune/Kolkata/Chennai/
Ahmedabad/Sikkim
L1-L2 3500 2500 2500
L3 4000 3000 3000
L4 5000 4000 4000
L5 6000 5000 5000
L6 7000 6000 6000
L7 8000 7000 7000
L8 9000 8000 8000
i) For L level Trainees upto L4 Level are eligible for 50% of applicable
Transfer Benefit, during their training period, provided transfer takes
place after six month of joining based on organisational requirement.
ii) MTs are eligible for Transfer Benefit when they are transferred to
different location after initial place of joining as MT and after first
place of posting after MT stint, i.e. joining place for MT stint and
place of posting after MT stint (other than place of joining as MT) will
be treated as initial place of posting. Technically MTs are eligible for
Transfer Benefit or CLA from third City of posting, other than first two
Cities.
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iii) MTs join at Corporate Office, which will be considered as Initial Place
of Joining. MTs, at the end of their Training period are assigned roles
outside of Bangalore, for which they will not be eligible for Transfer
Benefit/ CLA. However, Transfer Benefit/ CLA will be considered
when moving to a city outside of Initial Place of Joining or the First
City posted after MT stint. Similarly, an MT who is posted at
Bangalore after the MT stint will be eligible for Transfer benefit, only
after moving to a city other than Bangalore and first non- Bangalore
transfer. Ex: a MT who joined at Bangalore, gets a first role in
Bangalore and moves to another city, he/she will not be eligible for
transfer benefit/ CLA. However, he/she moves to a city other than
Bangalore and first city of transfer (i.e. third City), he/she will be
eligible under this policy.
iv) Employees in L6 and above, who were availing Transfer Benefit
when they were at L5 and merged with CTC on promotion to L6, will
not be eligible for Transfer Benefit as well as CLA.
v) Employees moving on transfer, shifting his/her residence to
transferred location/city and availing Transfer Benefit will be eligible
for a House Deposit Advance, charged @ 8.5% Interest per annum,
which will be recovered in 60 equated monthly installments (EMI).
The eligible amount shall be upto 10 months of the applicable HRA
or 80% of the Actual Advance, whichever is lower.
vi) Employees will continue to get their applicable HRA as per the city of
posting.
vii) Employees moving to their home town where the employee or his/her
parents own a house or employee stays with his/her parents will not
be eligible for Transfer Benefit. However, if an employee gives an
undertaking that he/she is staying in a rented house Transfer Benefit
will be considered based on approval by Location HR Head and
RBH/Manufacturing Head/Business Head.
viii) Transfer Benefit or CLA will be extended only if there is a physical
shifting of residence from current location/city to transferred
location/city.

4.2 Company Leased Accommodation:

Level Delhi / Mumbai Bangalore/Hyderabad/ Other
Pune/Kolkata/Chennai/ locations
Ahmedabad/Sikkim
L1 – L2 16000 11000 8000
L3 – L4 18000 13000 9500
L5 21000 15000 11000
L6 – L7 23000 17000 12000
L8 – L9 26000 20000 14000
i) Employees who opt for Company Leased Accommodation following a
transfer under this policy, his/her applicable HRA at the new location

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will be protected and paid as Relocation Allowance as part of monthly

salary.
ii) In lieu of the Transfer Benefit provided under 4.1 of this policy, an
Employee may avail CLA as per their level Eligibility. Both Transfer
Benefit and CLA benefit cannot be availed simultaneously.
iii) For Company Leased Accommodation, the Company will pay the
House Advance to the extent of 10 months House Rent Allowance
(Protected as Relocation Allowance) or 10 months Monthly Lease
Value, whichever is less, as an Advance against the Employee to the
Landlord. It will be the responsibility of the concerned Employee to
ensure that the Deposit is refunded to the Company on vacating the
CLA. Since the House Deposit Advise is given to the Landlord, on
termination of CLA or Lease agreement, the Landlord has to repay the
Advance to the Company by way of Cheque or Demand Draft and the
employees are not allowed to collect the money and remit to the
Company. For this purpose, the Employee will give an undertaking to
the Company for recovery of the CLA Advance at the time of his/her
final settlement, if the CLA Deposit is not refunded to the Company.
Company Leased Accommodation is applicable only if the Employee
stays in the City of Transfer within the District and do not own a House
at the new location / city of transfer.
iv) An Employee cannot avail a CLA in the family members / spouse /
parents name nor can an Employee avail CLA Benefit on transfer if
the Employee owns a house at the location.
v) Where the CLA exceeds the CLA entitlements on Transfer, the excess
amount will be recovered from the employee and shown under
deduction column of the payslip.
vi) Any damages/claims made by Landlord, such as, painting charges,
repairs, cleaning, etc. are to be borne by the employee and the
Company will not be liable to pay such damages/claims.
vii) Transfer Benefit / CLA will be withdrawn when an employee moves
back to his/her original place of appointment or acquires his/her own
house at the place of transfer.
viii) Transfer Benefit or CLA will not be eligible in case where an Employee
is transferred on his/her request.

4.3 One Time Disturbance Allowance:

Consequent to movement to the new city of transfer, a one-time
Disturbance Allowance to take care of incidental expenses at the new
place of posting can be availed as under:
Level Delhi/ NCR / Bangalore/ Hyderabad/ Pune/ Other
Mumbai Kolkata/ Chennai/ Ahmedabad locations
L1-L5 20000 17000 15000
L6-L9 25000 20000 17000

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One Time Disturbance Allowance will be paid only if there is a physical

shifting of residence from current location/city to transferred location/city.
For example an employee moving from Hosur to Bangalore or Bangalore
to Hosur, and continue to stay at the current location/city will not be
eligible for One Time Disturbance Allowance.

4.4 Travel:
Travel Fare reimbursement for Employee, spouse and dependent children
will be as per applicable Level eligibility mentioned under the Travel
Policy.

5 Settling Down Expenses: Lodging

5.1 In the event of no housing accommodation being provided by the company
at the new location, boarding and lodging at actuals for self and family for
a period of upto 15 days will be provided as per the Travel Policy
entitlements.
5.2 Non Hotel Stay Allowance: Should the Employee not opt to stay in a
hotel during this period, he / she would be eligible to claim a Non Hotel
Stay Allowance as prescribed under Travel Policy.

6 General Guidelines:
6.1 Transportation of Personal Belongings: Actual expenses incurred by
the Employee in transporting personal belongings by truck or train
including packing charges will be reimbursed. Such claims should be
supported by the Bill, after obtaining prior sanction of the estimate from the
concerned Admin Executive / Manager. The Employee should submit 3
quotes to Admin department and the least will be reimbursed. The
Company will also bear the transportation cost for Two Wheeler at Levels
upto L4 or equivalent level and Four Wheeler or Two Wheeler for Levels
L5 or equivalent level and above. Insurance premium based on the least
amount of three quotes will be reimbursed and employee needs to get the
approval of Location HR/Administration Head prior to transportation.
6.2 Four/Two wheeler re-registration charges: Where an employee owns
four or two wheeler vehicle prior to transfer and wants to transfer the same
to new location, and requires to re-register the vehicle, will be given an
interest free advance to the extent of re-registration charges subject o
production of proof. Simultaneously the transferred employee need to
apply for a refund of registration charges from his previous state’s RTO
where the vehicle was registered earlier. The difference between re-
registration charges and refund will be adjusted against the advance and
the balance to be paid to the Company by the transferred employee.
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Beyond one year of availing the advance, the employee will be required to
settle the advance. In case if the employee fails to settle or claim refund
form the previous RTO, the advance amount will be settled considering
the refund he would have got from the previous RTO based on the vintage
of the vehicle.
6.3 House Brokerage: Employees are eligible to claim House Brokerage at
actual as per prevailing norms (maximum one month Rent) subject to
production of Bills/Receipt.
6.4 School Donation: Employees are eligible for reimbursement of Children’s
School Donation at the new Location subject to production of Bills/
Receipts. Fees towards Tution / Academic Fees, Lab Fees, Sports Fees,
Computer Fees, Books, etc will not be reimbursed.
6.5 Insurance Coverage: The Company will also reimburse the insurance
charges to cover for loss/ damage of personal belongings of household
items, excluding jewellery/ ornaments and alike up to a premium value of
upto Rs.4500/-. It will be the responsibility of the Employee to arrange for
a requisite insurance cover.
6.6 Advance: The Employee will be entitled to draw an adequate advance as
per the travel policy to cover his/her travel and to meet the expenses for
packaging and transporting of household goods.
6.7 Submission of Expenses Statement: The Employee would be required
to settle the transfer expenses to Accounts, as per Annexure 4 of Travel
Policy, within fifteen working days of reporting at the new location.

7 Deputation Rules:
7.1 All outstation Employees posted to a Location for duration over one month
will be considered as Deputation. In all such cases Manager-
Administration in Corporate Office and Regional BPHR / Administrative
Officers will arrange either a Paying Guest or Guest House
accommodation. A consolidated statement on a weekly basis may be
submitted to Accounts for reimbursement of the daily incidental expenses
and/or daily allowances for meals, where boarding facility is not extended.
7.2 If such stay extends for over six months, it will be considered as transfer.
7.3 Employees on deputation shall continue to get hometown HRA.
7.4 Employees on Deputation will continue to get HRA as per their Base
Location. The Employee shall make claims once a week on deputation
and the RBM/RBH will approve all such claims.

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8 Deviations:
8.1 Any deviations from this policy require approval from the MD/ CHRO.
8.2 Management reserves the right to modify or terminate this policy without
prior notice.

R. RAJNARAYAN
SENIOR VICE PRESIDENT & CHRO

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COMPANY LEASED ACCOMMODATION

GUIDELINES FOR TRANSFERRED EMPLOYEES

Following guidelines will apply for availing Company Leased Accommodation by

a transferred employees.

1. In case of L1-L8 employees Transfer Benefit and CLA limit clause will be
incorporated as part of transfer letter.

2. Employees who wants to opt for Company Leased Accommodation need

to finalise a house on his/her own and give a request letter as per
annexure and Deed of Undertaking in Rs.100/- stamp paper to the
concerned Location HR/Administration Head.

3. Concerned Location Administration Head will prepare and execute a

Lease document and advise Payroll/concerned location Finance Head for
further processing. Please note the following

 The lease agreement will be prepared on the standard lease

agreement format only
 The documents such as Sale Deed OR Khatha/Patta OR House
Tax Receipts need to be submitted for clearance from legal team to
ascertain the ownership of the property. In case of power of
attorney the POA document to be produced
 The lease agreement will be entered only post the legal clearances
 Adequate notice to be given for all paper works – minimum 2 weeks
 While vacating the premises the employee is responsible to serve
the notice period as per the agreement.
 The employee should negotiate and finalise the rent and deposit
details

4. Based on the Lease Agreement concerned Location Finance will release

the House Deposit Advance and pay the rent month on month, as long as
an employee stays in that house. The Location Finance Head need to
send a communication to Payroll so that employee’s actual HRA will be
protected and paid as a Relocation Allowance, as long as the employee
avails the CLA.

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5. When an employee gets transferred to other location or vacating the

house on various reasons, it is the responsibility of the employee to inform
the concerned Location Admin and Finance Head and ensure that the
Advance is returned / refunded to the Company.

6. The Company will reimburse the housee brokerage charges for the
Company Leased Accommodation at actual as per the prevailing norms
subject to production of Bill/Receipt.

7. Finally it is the responsibility of the employee to ensure that the House

Deposit Advance paid to the Landlord is refunded/retunred at the time of
vacating the house. In the absence of receipt of advance the Company
has the authority to recover the same from the employee from his/her
salary or final settlement.

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REQUEST FOR COMPANY LEASED ACCOMMODATION ON TRANSFER

Date:
From
Name :
Empcd : :
Dept : :
Location: :

To : The Location/Regional HR/Admin. Head.

Dear Sir,

Sub: Request for Company Leased Accommodation based on Transfer Letter

Dated:_______________-.
------------------------

I have been transferred from ______________________ to

___________________ with effect from ________________. As per the
Transfer Policy I would like to avail Company Leased Accommodation. I have
identified a House at the following address:

Address of the House :

Landlord name :
Address & Contact No. of Landlord:

I have verified the ownership details of the property and the same is genuine.

Undertaking:

I hereby declare that I understood the Income Tax implication towards the
Company Leased Accommodation and I do agree for the terms therein

I hereby undertake that at the time of vacating the House I will ensure that the
advance paid for my CLA is returned to the Company. I also undertake that in the
event of non return / non-refund of House Advance, the same may be recovered
from my salary or final settlement.

Request you to execute the Company Leased Accommodation Agreement with

effect from ___________.

SIGNATURE OF EMPLOYEE

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DEED OF UNDERTKING
This Deed of Undertaking is executed on this day of ………………………………..
by Mr…………….., S/o. , working as ………………..in Titan Company Ltd
(which expression shall wherever the context as required or admits shall mean and
include his legal heirs, successors, executors and administrators) hereinafter referred
to as the Employee.

in favour of:

M/s. Titan Company Ltd, a Company incorporated under the provisions of the
Companies Act, 1956 having its Registered Office at 3, Sipcot Industrial Complex, Hosur
635 126, Tamil Nadu and its Corporate Office situated at No.132/133, Divyasree
Technopolis, Off HAL Airport Road, Yamalur, Bangalore - 560 037 (which expression
shall wherever the context as required or admits shall mean and include its successors,
executors and administrators) hereinafter referred to as the `Company` represented
herein by its duly constituted Authorised Signatory.

I. WHEREAS the Company is engaged interalia in the business of designing,

manufacturing and also selling watches, designer Jewelry and new generation Glasses.

II. WHEREAS, the Employee was on the look out for suitable premises for his
premises and by virtue of the employee's designation in the Company, the Employee
has become entitled to a Company Leased Accommodation, hereinafter referred to as
the premises. Accordingly the Company has agreed to provide the Employee a
Company Leased Accommodation subject to the following conditions and undertakings
given by the Employee hereunder:

WHEREAS IN CONSIDERATION OF THE MUTUAL COVENANTS SET FORTH

BELOW, THE EMPLOYEE AND THE COMPANY (HEREINAFTER REFERRED TO AS
THE PARTIES) WITNESSES AS FOLLOWS:

1. The Employee who intends to enter into a Company Leased Accommodation

affirms that he shall first visit the site of such premises, inspect the premises and only
upon being completely satisfied that everything is in order, the Employee undertakes

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that he shall obtain the Title Deeds (either original or certified copies) of the said
Premises and hand over the same to the Administration Department for scrutiny of the
title by the Legal Department.

2. Pursuant to the scrutiny of the title deeds of the premises by the Legal
Department, the Employee shall get the lease agreement (the draft which shall be
supplied by the Administration Department) prepared on a Rs…………………Stamp
Paper and get the said lease agreement executed by the Landlord, himself and shall
handover the said duly executed Lease Agreement with the administration Department
who shall upon the receiving the same arrange for payment of security deposit as
mentioned in the Lease Agreement.

3. The Employee affirms that he shall bring any such points worthy of specific
mention to the attention of the Landlord in writing prior to him occupying the premises.
The Employee shall hand over a copy of any such written communication with the
Administration Department for reference.

4. The Employee hereby affirms that he has received the keys of the said flat this
day and would occupy the flat on the date convenient to him. The Employee further
undertakes that he shall alone along with his family members only occupy the said
premises. The Employee undertakes not to sub-lease the said premises. In the event the
Company finds out that the Employee has sub-let the premises, then the Company shall
forthwith enter upon the premises and take vacant possession of the same and further
be entitled to recover whatever rents that it has already paid to the Lessor along with
damages form the Employee. The Employee undertakes not to interfere with the actions
of the Company and shall also pay any rents and damages that the Company deems fit
in the circumstances.

5. The Employee undertakes that he would take due care of the premises along
with all furniture and fittings and return the same to the Company subject to normal wear
and tear. The Employee undertakes that in case of any damage caused to the premises
i.e any damage caused to windows/frames, doors, electrical fittings etc, he shall ensure
that the said damage is made good prior to handing over the vacant possession of the
premises to the Company.

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6. The employee undertakes to punctually pay all the outgoings of the premises i.e
all the Electricity and Water charges till the date the employee vacates the premises. In
case the employee fails to clear the said outgoings, the Company shall have the
absolute right to get the same reimbursed from the Employee along with punitive
interests.

7. The employee further undertakes that he shall occupy the premises only for the
period of his employment with the Company and he shall hand over the vacant
possession of the premises to the Company on him ceasing to be the employee of the
Company or on his own volition.

8. The Employee undertakes that he shall intimate the Administration Department in

writing about the expected vacation of the premises by him in accordance with the Lease
agreement. Due notice shall be issued by the Administration Department to the
Landlord. However in case the Employee fails to intimate the same to the Administration
Department and if any rents which could have been avoided for any period has
consequently been paid by the Company beyond the date on which the premises is
vacated by the Employee, then the rents so paid shall be made good by the Employee to
the Company. In case the Employee fails to pay the same, the Company will have to
right to recover the same as it thinks fit.

9. The Employee shall obtain an appropriate release letter from the Landlord of the
premises and furnish the same to the Administration Department to establish that the
Company has no further liability towards the premises that has already been vacated.

10. The Employee undertakes to hand over the vacant possession of the premises
together with all the fittings and furniture, if any, to the landlord and further he shall also
ensure that he shall collect the deposit amount from the landlord and handover the same
to the Company without fail. Failure of which Company shall be entitled to proceed
against the employee to recover the same from him with interest and litigation cost, if
any, in accordance with law.
11. However if the Employee squats around the premises even after him ceasing to
the Employee of the Company, the Company shall stop making any payments to the
Landlord and inform the Landlord that the Employee is no longer with the Company and

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the Company shall forthwith enter upon the premises and take vacant possession of the
same and further be entitled to recover whatever rents that it has already paid to the
Lessor along with damages from the Employee. The Employee undertakes not to
interfere with the actions of the Company and shall also pay any rents and damages that
the Company deems fit in the circumstances. However nothing in the said undertaking
shall prevent the Company from initiating appropriate legal proceedings both civil and
criminal as the Company deems fit.

12. The employee undertakes that he would pay all the maintenance and outgoing
charges over and above the lease charges as agreed at clause 3 supra. The Employee
further agrees that the last paid receipt of the paid up charges shall be handed over to
the Company at the time of the Employee vacating the premises either on the expiry of
the term of the lease or earlier termination due to his ceasing to be the employee. Any
arrears of any kind of payments whatsoever payable by the Employee to the Landlord, if
paid by the Company or such arrears being appropriated by the Landlord against the
deposit paid by the Company the same shall be recovered by the Company from the
salary of the Employee. However the Company if unable to recover the same from the
salary of the Employee, the Company hereby reserves the right to initiate appropriate
proceedings against the defaulting Employee for recovery of the same along with
damages.

13. Apart form what ever may be stated in the lease agreement there shall be no
commitments (financial or otherwise) whatsoever on part of the Company towards the
landlord. Such commitments if any shall be borne by the employee and the Employee
undertakes that such commitments shall not be prejudicial to the rights of the Company.

IN WITNESS WHEREOF, the Employee hereby agrees that he has read,

understood and only then executed this letter of Undertaking out of his own accord and
free will with no compulsion, coercion or any kind of duress from any person whatsoever
as of the Effective Date.
EMPLOYEE
Drafted by tsm

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