Employee Exit Policy2191

Policy
Name: Employee Exit Policy

Effective Till next revision based on Statute and management
From: 1st November 2021 Validity decision
Scope: 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.
This policy is applicable to all the employees throughout the company unless otherwise specified.
An employee will be deemed to have been terminated from the company if any of the following terms are
fulfilled:
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.
Eligibility: All regular employees, and probationary employees.
General Guidelines
Only after the concurrence of the Business Unit Head/ HR, the separation process will be initiated. Once an
employee resigns, he/she will not be covered under any ongoing review.
Upon separation from the company, an employee will be required to return all property, equipment, materials,
records and documents that have been borrowed from the company. An employee should also obtain
clearance of all outstanding dues (No Dues Certificate) to/from the company.
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 90 (ninety)
days (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 paying the salary in lieu
1
to the number of days that fall short than 90days.

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Regd Off: 704 -B 11, Bramha Avenue, Kondhwa, Pune 411 048
Corporate office: 4th Floor, Sapphire Plaza, Sakora Nagar, Viman Nagar, New VIP Road, Pune - 411014
CIN: U72900PN2017PTC168967 website: www.crochetech.com
Policy
Dismissal
The company may choose to terminate the employee’s services if:
1. Inferior skills or work performance

2. Improper behavior or attitude
3. Low integrity
4. Discrepancies in the information provided during the time of appointment.
5. Any other reason hampering the company’s goals
In the case of dismissals, the company has the right to enforce separation with immediate effect without any
prior notice. In such case the company is not liable to pay any compensation to the employee.
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.
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 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.
Waiving of Notice Period
In certain cases, the notice period agreement term can be waived. This decision can be taken by the Reporting
Manager with written endorsement from the management with a copy to HR. This decision is at the discretion
of management. Comparisons/precedence’s may neither be quoted, nor will be entertained. In event
employee has failed to complete the working notice period, the Company will view it very seriously and
reserves the right to seek any legal measures.
Clearance Procedure
A resignation acceptance / acknowledgement letter shall be sent to the employee from the HR along with the
necessary No Dues Certificate for obtaining clearance from relevant Departments. Obtaining the necessary
clearances from all departments is the employee’s responsibility. Employee should begin this procedure about
3 days in advance to his last date in the organization and send it to HR for generation of relieving documents.
If employee is in possession of Company assets, (for example Cell phone/Laptop/Corporate Credit Card/ Data
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Cards) full & final settlement will be initiated only after an employee hand them back in perfect condition to
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the Company, along with the duly filled “No Dues Certificate”.
Policy
Exit Interview
An exit interview will be conducted by HR Team, before the employee leaves the company. The exit interview
will provide us with information on the continuation or cessation of employee benefits. It will also provide the
company with information, which may form the basis for improving the work environment. Except in cases of
business necessity, the anonymity of the source of information obtained during an exit interview will remain
strictly confidential.
Full & Final Settlement of Individual Accounts
Full & Final settlements will be done only through cheque from Head Office. The full and final settlements will
be done within 45 working days of the employee leaving the organization.
In full and final settlements any dues payable by the employee to the employer by way of advances taken,
notice period compensation amount, non-serving of Minimum Commitment period, any training fee incurred
during the past 6 months of leaving etc will be deducted and if any amount payable / receivable to / from
employee has to settled and only then the F & F will be settled.
Termination of employment
In the event when the management decides to terminate the services of an employee, the company will pay
notice salary to the employee based on his status with the company.
Prepared and Checked By: Approved By:

Policy Version
Shwetta Garg - Group HR Bhalchandra Joshi - COO
CTPL/2021/ 1.0
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Policy

Name: Employee Exit Policy

1. An employee resigns from the company

Eligibility: All regular employees, and probationary employees.

to the number of days that fall short than 90days.

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

1. Inferior skills or work performance

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

Waiving of Notice Period

Full & Final Settlement of Individual Accounts

Prepared and Checked By: Approved By:

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