Leave Policy

This leave policy (“Policy”) governs the leave entitlements of employees (“Employee”) of
“CoinSwitch”.

The Policy applies to all Employees of CoinSwitch. The holiday year in CoinSwitch Kuber
runs from 1 January to 31 December.

General Procedure for Availing Leave:

● All planned leaves should be requested through Darwinbox (HRMS) to the respective
Reporting Manager, at least a week before the commencement of the planned leave
period. All leave applications must be updated and approved on the HR Tool.
● If employees have exhausted their leave entitlements for the year, any further leave
taken will be treated as a Loss of Pay and will be deducted from the respective
employee’s salary accordingly, subject to our sole discretion. Employees to update the
LOP on HRMS and Managers to keep the respective HRBP informed on the LOP period.
● All employees are entitled to pay for public holidays, a list of which we will issue at the
beginning of each year.
● This Leave Policy does not apply to any employee serving his or her notice period. In the
event,that an employee avails any leave during the notice period, CoinSwitch reserves
the right to extend the notice period by a period equivalent to the number of days of
leave taken by such employee.
● Employees are requested to inform their respective managers of any client meetings
that may occur during working hours.
● We try to be flexible about personal or family emergencies.

Types of Leaves

1. PRIVILEGE LEAVES - 24 Days per annum

● Privilege Leaves are allocated on a pro-rata basis from the date of joining. The leaves
credited will be every half-yearly in advance.
● All Employees shall be entitled to twenty-four (24) days of privilege leave.
● At the end of every year, 50% of the annually allotted leaves shall be carried forward to
the next year and the rest shall lapse if unutilized.
 ● The un-availed privilege leave may be encashed at the time of termination or seperation
from the employment of CoinSwitch or upon the maximum limit of 30 days having been
accumulated by the concerned Employee.

2. SICK / CASUAL LEAVE - 18 Days per annum

● All Employees shall be entitled to sick/casual leave calculated over 1 (one) year which
shall be credited pro-rated and advance credit of half yearly leaves.
● Every employee shall be entitled to sick/casual leave for a period not exceeding 18
(eighteen) days.
● Sick or casual leave can be availed on the ground of any sickness incurred or accident
sustained by an Employee or any family emergency or for any other reasonable
unforeseen cause.
● Sick or casual leave may be availed by an Employee without prior notice to CoinSwitch
in case of an emergency.
● No Employee shall be entitled to carry forward or accumulate sick or casual leave in
any given holiday year.
● On return of the Employee to the workplace, the Employee shall be required to make
a formal application of the Sick or Casual Leave availed on HRMS.

3. MENSTRUAL LEAVE - 1 Day per month

● Every female employee is entitled to 1 menstrual leave each month.

● Menstrual Leave is provided and can be availed in case of any discomfort or sickness
incurred by female employees during their menstrual cycle.
● No Employee shall be entitled to carry forward or accumulate Menstrual leave in any year.

4. BEREAVEMENT LEAVE – 15 Days per annum

● In the event of the loss of an immediate family member, an employee is granted 15

calendar days of paid leaves to attend to the rituals.
● This leave starts from the first day of the death of the member.
● Immediate family member refers to Parents, Siblings, Spouses, Kids, or Parents in Laws.
● This leave can be extended by clubbing it with allotted Privilege Leaves.
5. MATERNITY LEAVE- 8 Months

● Subject to the provisions of the Maternity Benefit Act, 1961, female Employees who have
worked for eighty (80) days or more with CoinSwitch during twelve (12) months immediately
preceding the expected date of her delivery will be entitled to claim maternity leave.
● An eligible female Employee shall be allowed maternity leave on full pay for up to 8 months of
which not more than eight (8) weeks can be availed by the Employee before the expected date
of delivery.
● A woman with two or more children will be entitled to 12 (twelve) weeks of maternity leave of
which not more than six (6) weeks shall precede her expected date of delivery. An approved
medical practitioner should certify the confinement and the employee must not take up any
employment, temporary or part-time, or otherwise, during this period.
● An applicant for maternity leave must give notice to CoinSwitch supported by a medical
certificate not less than 8 weeks before the start of the leave period.
● Any female employee adopting a child below three (3) months of age and Commissioning
Mothers (as defined below) shall be entitled to avail twelve (12) weeks of maternity leave from
the date the child is handed over to them. “Commissioning Mothers” shall mean a biological
mother who uses her egg to create an embryo implanted in any other woman
● Maternity leave may be availed in combination with other leave entitlements. No payment shall
be due or payable in place of unveiled maternity leave. An Employee is required to follow the
same procedure for applying for maternity leave as applicable for privilege leave.
● Please refer to the Maternity Leave Policy annexed hereto for more details.

6. PATERNITY LEAVE- 1 Month

● It applies to all male employees who are married (the employee should be married as per our
records, with information having been provided at the time of joining or at the time of
marriage).
● An Employee may avail of one month of paternity leave on delivery of the child.
● This leave can be availed by the Employee on the adoption of a child subject to submission of
relevant supporting documents.
● Please refer to the Paternity Leave Policy annexed hereto for more details.
7. BIRTHDAY LEAVE- 1 Day
● Every employee shall be entitled to take 1 (one) day of leave during his/her Birthday. The
Birthday leave policy is effective from 15th Jun 2022 onwards.
● Birthday leave has to be applied in advance on HRMS and approved by a manager.

8. Service OR Wedding Anniversary Leave- 1 Day per annum

● Every employee shall be entitled to take 1 (one) day of leave during his/her
Wedding/Service anniversary. This leave policy is effective from 15th Jun 2022
onwards.
● The employee is eligible to apply for either Service OR Wedding Anniversary leave.
● Leave has to be applied in advance on HRMS and approved by the manager.
● To apply for Wedding leave, the marriage date has to be updated on Darwin and approved by
HR.

9. Charity Leave- 2 Days per annum

● Every employee shall be entitled to take 2 (two) days of paid leave who likes to volunteer
themselves for CSR activities.
● The paid-off for charity should be applied 1 week in advance on HRMS and the same has to be
approved by a manager.
● Valid document proof of the charity work undertaken has to be submitted.
10. WORK FROM HOME

Work from Home (“WFH”) will be accommodated only in exceptional cases upon approval from
relevant Department Heads and the Head of the HR Department (“Head, HR”) provided
however the Employee shall be required to complete the requisite hours under the shift and
shall be subject to the following:

● The number of days to be considered as WFH cannot exceed 12 (twelve) days in a year.
● Any additional day’s WFH beyond 12 (twelve) days in a year will not qualify to be
considered as a working day for the employee.
● Approval to be obtained from Department Head and at least 1 (one) working day in advance.
● WFH cannot be requested at the end of an official journey or an earned privilege Leave.
Exceptions can be approved by the Department Head only for genuine reasons that do not
hamper productivity at work.

It is also imperative to note that due to the COVID – 19 Pandemic, most departments are
working from home. However, once the situation permits and the offices resume, the
requirements under this Section will be applicable.

11. CARRY FORWARD

Employees will be entitled to carry forward a maximum of 50% of the annual leave will be
carried forwarded to the next year. The leaves are capped at thirty (30) days only. It is hereby
clarified that the option of carrying forward of leaves shall be available to the Employees only
for privilege leave.

12. LEAVE WITHOUT PAY

Leave without pay (“LoP”) is granted only in exceptional circumstances approved by the Head,
HR and the Department / Function Head and only after all annual leave entitlement as detailed
above has been exhausted by the Employee. An employee may be granted a maximum of three
(3) months of leave without pay provided the HR Head and the Functional Head, both, approve
the request. Beyond the three (3) month period, full-time Employees may apply for an
extension of LOP only in the case of a medical emergency, family support or personal exigencies,
subject to prior written approval from the Reporting
Manager and the Head, HR.
All unvested stock options will expire / lapse during the LOP period. However, in case of any
medical or personal exigencies, exceptions may be granted at the sole discretion of the Board
 of Directors / Partners.
If an employee fails to report to work on the specified date after the expiry of the approved
leave without pay period, the Employee shall be considered absconding and in material breach
of his / her employment agreement. CoinSwitch Kuber shall have the right to initiate
disciplinary action against such Employee as it deems fit including but not limited to forthwith
terminating the employment of such Employee.

13. LEAVE ENCASHMENT

● The Employee is entitled to leave encashment at the time of termination of employment as per
the employment agreement. The Employee shall be entitled to encashment of Privilege Leave
only at the time of termination of employment of the Employee.
● Encashment of leaves is paid in full day salary and shall be subject to deduction of TDS as per
applicable law.
● No Leave encashment shall be provided if the employee exits in the Probation period.

14. PUBLIC & FESTIVE HOLIDAYS

The Employee is entitled to a certain number of mandatory and optional Holidays annually as
defined by the Holiday Calendar for the year. Employees are requested to avail the optional
holidays by keeping the managers informed well in advance after following the due application
process. Additionally, in Customer Support & a few select functions, employees may be
requested to work on a holiday due to business needs. In such cases, based on employees’
consent, the Company will compensate with double the daily salary OR a compensatory off. You
may reach out to the HR team for any clarifications.

15. OPTIONAL LEAVE

● Optional Leave can be availed for 3 days out of the 7 days listed in the Holiday Calendar.
● Any employee who joins on or after 1st July 2022 will be eligible for the 2-day optional
holiday.
● Employees have to request optional leave well in advance on the HRMS tool.

16. EXCEPTIONS AND CHANGES

Any exceptions to this Policy or any annexure hereto must be approved in writing by the
Department/ Functional Head, HRBP and the Head, HR.
 MATERNITY LEAVE POLICY

Coinswitch Kuber is taking progressive steps to assist employees during significant life events
through paid leave for maternity (“Maternity Benefit”). These Maternity Benefits are intended to
allow employees paid - time off to bond with their children before returning to work. These
Maternity Benefits are available to all full-time female employees having completed minimum
service of 80 days in the last 12 months.

A. Eligibility

A full-time female employee of CoinSwitch Kuber who:

1. delivers a baby (i.e., birth mother) or
2. legally adopts a child (i.e., adoptive mother) or
3. is a commissioning mother. A commissioning mother means a biological mother
who uses her egg to create an embryo implanted in any other woman (i.e., a child
born through surrogacy).
4. The minimum service requirement for employees to be eligible for this benefit is
eighty (80) days in the twelve (12) months immediately preceding the date of her
expected delivery.

Employees who do not meet the eligibility requirement specified above shall not be
eligible for the Maternity Benefit. Any exceptions must be approved in writing by the
Human Resource Head and Department Head.

B. Maternity Leave

The eligible employees have entitled to a total of 8 months’ calendar weeks of paid maternity
leave (“Maternity Leave”).

For birth mother – You may start your Maternity Leave up to eight (08) calendar weeks
before the expected date of delivery. If you have not started your Maternity Leave before
the delivery date, the Maternity Leave will start from the day the child is born. If you have
two (2) or more surviving children, the Maternity Leave shall be provided for twelve (12)
weeks of which not more than six(6) weeks shall precede the expected delivery date.

For adoptive and commissioning mothers – Your Maternity Leave starts from the date the
child is handed over to you.
 The twenty-six (26) calendar weeks are inclusive of any rest days, weekends, off days,
shutdown and public holidays etc.

Maternity Leave would begin on the date requested by you and must be taken in one
continuous block.

If an employee wishes to take certain leaves after the Maternity Leave, she may contact the
Human Resource (HR) Team.

C. Other Leaves

Mis-carriage leaves – In the event of a miscarriage or medical termination of pregnancy due

to medical reasons, six (6) calendar weeks of paid leave will be granted immediately
following the day of miscarriage or medical termination of pregnancy as supported by
necessary documents. The employee is not eligible for Maternity Leave in this case.

Leave for illness arising out of pregnancy – You will be eligible for an extended Maternity
Leave in case of an illness due to any of the following reasons - pregnancy, delivery,
premature birth of the child, miscarriage, medical termination of pregnancy or tubectomy
operation. In such cases you would be eligible for a maximum of one (1) month leaves in
addition to Maternity Leave and is available solely to cater to the condition of grave illness
arising from the pregnancy, delivery, premature birth of the child, miscarriage, medical
termination of pregnancy or tubectomy operation. This leave would be granted subject to
the production of prescribed documents to the satisfaction of CoinSwitch and approval of
the HR Team and the Function Head. This leave can be taken during pregnancy or after the
delivery of the child. It does not need to be taken consecutively with the maternity leave. If
taken after the delivery of the child, this leave must be taken before the child turns one year
of age.

Leave for tubectomy operation – In case of tubectomy operation, you will be entitled to paid
leaves for two (2) weeks immediately following the day of tubectomy operation.

D. BENEFITS DURING MATERNITY

While on Maternity Leave, we will maintain the same benefits coverage you have as an
active employee (subject to plan provisions) on the date of commencement of your
Maternity Leave, for the full duration of the Maternity Leave. If you do not return from
Maternity Leave, these benefits will cease as of the last day of your Maternity Leave.
 You will continue to accumulate any type of paid leave while you are on parental leave
(maternity or paternity). This includes paid leave such as annual leave, sick leave and casual
leaves.

E. INITIATING MATERNITY, AND RETURNING TO WORK

You must inform your manager at least 60 days, before starting your Maternity Leave. You
should provide as much notice as possible to give your manager and Human Resource
Department time to plan for your absence. If you wish to take a Sabbatical before or
immediately after the Maternity Leave, you need to inform your manager and Human
Resource Department with a minimum notice period of 60 days.
You should work out an arrangement with your manager on how and when you intend to
take the leave.
If the need for leave is not foreseeable, you must request the leave as far in advance as
reasonably practical (generally the same day or next day after you became aware of the need
for leave)
In case of emergency, you (or a representative) must notify your manager or please contact
the Employee Human Resource as soon as practical.

You are required to enter your return-to-work information on workday no later than seven
(7) working days before the scheduled end date of your leave.

If there are any changes to the scheduled date, you must notify your manager and Human
Resource Department of the new return to work date as soon as possible. Additional
documentation and certification may be required.

F. GENERAL
In case of Death: In the unfortunate incident of death of an employee or the child during
the Maternity Leave, the Maternity Benefit shall be payable only for the days up to and
including the day of her death. However, if the death occurs during delivery or the period
immediately following the date of delivery for which she is entitled to the Maternity Benefit,
leaving behind, in either case, the child, we shall provide Maternity Benefit for that entire
period but if the child also dies during the said period, then, for the days up to and including
the date of the death of the child. In such a situation, the Maternity Benefit shall be to the
person nominated by you and if no nominee has been appointed, to your legal heirs.

The benefits under this Policy are subject to submission of the requisite / prescribed
documents, from registered medical practitioners or otherwise, as may be prescribed or
requested from CoinSwitch from time to time. CoinSwitch may request additional
documents and details for verification and the Employee shall provide the same.
 Employees who fail to return within three days of the specified return to work date, accept
other employment (including self-employment) while on leave, or are found to have falsified
any information about the leave, including dates and reasons for the leave, will be
considered grounds for termination.

PATERNITY LEAVE POLICY

CoinSwitch is taking progressive steps to assist employees during significant life events through paid
time for paternity leaves. These leave benefits are intended to allow employees paid time off to bond
with their children before returning to work. This policy is available to all eligible employees.

A. ELIGIBILITY

1. Full-time male employees who:

a) Is having a newborn child (i.e., birth father), or

b) legally adopts a child below the age of one year (i.e. adoptive father); and
c) Has completed a minimum of eighty (80) days of service in the last twelve months.

2. There is no minimum service year requirement for employees to be eligible for the benefits
under this policy.

B. BENEFITS DURING PATERNITY LEAVE

1. You are eligible for one month of paid paternity leave.

2. Paid paternity leave must be taken as one continuous block within six months of the birth or
adoption of the child.

3. If you return to work at any point earlier than the 10 working days, the leave benefit will cease
and the remaining days will be forfeited.

C. INITIATING PATERNITY LEAVE, AND RETURNING TO WORK

1. You must notify your Manager and HRBP at least 30 days before starting your paternity leave.

2. You can submit your application for paternity leave, along with a certificate of the registered
medical practitioner or letter of intent to adopt, to your manager and Human Resource
Department for approval.

3. In case of emergency, you (or a representative) must notify your manager or the Human
Resource Department as soon as practical.

D. GENERAL
1. The benefits under this Policy are subject to submission of the requisite / prescribed documents,
from registered medical practitioners or otherwise, as may be prescribed or requested from
CoinSwitch from time to time. CoinSwitch may request additional documents and details for
verification and the Employee shall provide the same.

2. Employees who fail to return within three (3) days of the specified return to work date, accept
other employment (including self-employment) for compensation while on leave or are found
to have falsified any information about the leave, including dates and reasons for the leave, will
be considered grounds for termination