W.E.

F: 01st May, 2024 HR/P/12 RV:00

Retention Policy
Purpose:-

The objective of this policy is to maintain a long-term association of employee and employer.

Applicability: -

This policy applies to all new employees, including full-time, part-time, temporary staff, who are associates
with JHS Svendgaard Laboratories Limited (hereinafter referred to as the ‘Company’, wherein it can be
Companies and/or affiliates and/or its group being controlled by the same management). This policy will
cover Factory and Head Office employees excluding Blue Collar Employees.

General Guidelines & Responsibilities: -

 All newly hired employees are encompassed within this policy, with the exception of Blue-Collar
Employees.
 Prior to joining, the concerned Heads of Departments and Human Resources will transparently
communicate this policy to prospective employees during the interview process, ensuring their
understanding and obtaining their written consent.
 Retention will be purely of 10% of the Gross salary of employee.
 Retention will be done up to a period of two years only.
 Throughout the retention period, should an employee choose to depart from the organization, they
shall forfeit their entitlement to the retention amount and will not be eligible to claim said amount
under any circumstances in the future.
 In the event of termination during the tenure, the employee shall be entitled to any claim or
deduction made from his/her salary up to that specific period only.
 The HR team will be responsible for deducting the retention amount from the employee's salary,
with the Accounts team ensuring the accuracy of these deductions from respective employee
salary accounts.

Reimbursement:-

 After two years the full retention amount will be transferred/settled to concerned employee bank
account in forthcoming month salary.
 If the amount exceeds 150,000 rupees, the reimbursement will be divided into installments.

Management Right

The management reserves the right to relax any condition in a particular case depending upon the situation
and withdraw or modify the policy at any time without assigning any reason.