Technocracy Pte.

Ltd
POLICY TITLE –EXIT POLICY AND
PROCEDURE
Issuing Policy Effective Supersedes Page
Date number Date Notification Ref
Office Policy Target Policy 1-7
of Approval Audience Caretaker
Origin Authority

Objective/Purpose of the policy/Policy Statement

An exit policy governs the activities that take place when an employee voluntarily

chooses to resign or is terminated by the company.

This policy is beneficial to all the parties in interest to avoid any misunderstandings

during separation. This also helps in eliminating any friction between the two parties

resulting from separation.

These policies are drafted in such a way that they abide by all the laws of the land.

Detailed policy statement

This policy gives a detailed outlook on the termination/ separation process followed by

the company.

It gives an insight into the release formalities, the notice period required to be served,

treatment of benefits, exit interview procedures, etc.

An employee will be deemed to have been terminated from the company if any of the
following terms are fulfilled:

Registered office -351 Woodlands Ave 1, Singapore 73035

 Technocracy Pte. Ltd
1. An employee resigns from the company
2. His/ Her services are no longer required by the company.
3. He/she is removed or dismissed by the company.
4. On the expiry of the contract period.

Voluntary Resignation

Resignation is a voluntary decision of the employee to terminate providing services to

the company.

An employee resigning voluntarily shall serve a letter of resignation to his/her

immediate supervisor copied to the Human Resources Team.

Every employee resigning voluntarily by way of resignation is required to serve a notice

period of 2 month / 60 days (whichever is higher)(unless more days are specified in the
employee’s agreement) from the date of serving a written communication about the
same.

During this period the employee is expected to conduct professionally as he/she would
in the normal course. Any tampering to this rule gives the management the right to
extend his/her notice period.

If the employee is unable to fulfil this clause, he/she may be subjected to a penalty of a
sum not greater than the 2 months last drawn gross salary.

Dismissal

The company may choose to terminate the employee’s services if:

1. inferior skills or work performance

2. improper behaviour or attitude
3. low integrity
4. material discrepancies in the information provided during the time of
appointment.
5. any other reason hampering the company’s goals

Registered office -351 Woodlands Ave 1, Singapore 730351

 Technocracy Pte. Ltd
In the case of dismissals, the company has the right to enforce separation with
immediate effect without any prior notice.

Leaving Formalities

All benefits such as insurance cease to exist from the date of resignation or the last day.
Compensatory leaves, if any, will not be reimbursed in cash. If there is a PF account
with the company, it will be discharged.

Third-party PF, if any, will remain the same unless the employee chooses otherwise.
Any such transaction will be between the employee and the third party.

Reimbursements, if any, should be filed before the notice period is over.

The employee is expected to submit all of the company’s assets including but not
limited to any technological gadgets, company credit cards, vehicle, identity card, etc.
before the last day of the notice period. Any conduct contrary to this rule may halt/abort
your termination process.

A relieving letter will be issued by the company upon fulfilment of the termination
process.

In order to enhance employee satisfaction, the human resource team may conduct an

exit interview. You are requested to co-operate and be honest about the same.

Applicability Exactly who the policy applies to and the consequences

for non-compliance, if applicable.

This policy is applicable to all the employees throughout the company unless otherwise

specified.

Definitions of terms (as needed).

Registered office -351 Woodlands Ave 1, Singapore 730351

 Technocracy Pte. Ltd
Cognizant office(s)/ Getting Help

Policy authority The highest administrative or group authorizing the

policy. If appropriate, one might also note the next required review
date.

Implementation procedures

Registered office -351 Woodlands Ave 1, Singapore 730351