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Rewards
Rewarding Results Plan: For employees who exceed performance expectations, the company's discretionary incentive plan, 'Rewarding Results Plan' recognizes and rewards eligible employees for contributing to the Company's success.
In recognition of outstanding employee performance, incentive awards may be granted to eligible employees. The Rewarding Results Plan features two award opportunities:
- The opportunity for special, performance-based awards throughout the year; and
- A year-end incentive performance based opportunity paid in first quarter of the following year.
Benefits
Provident Fund: All employees participate in the Employee Provident Fund Scheme at the rate of 12% of their basic salary. The Company will match contributions to a maximum of 12%.
As per the individual discretion an employee can choose to increase his/her contribution limit beyond 12% however the company contributes maximum up to 12%.
Gratuity Scheme: All employees, with a minimum of 5 years of service, will receive a payment equivalent to 15 days basic salary for every year of completed service, subject to a maximum Rs. 350,000, on:
- Retirement;
- Resignation / termination of services;
- Death or permanent disablement due to accident or disease (in such cases the minimum service of
5 years is not required).
Leave Travel Assistance: Employees are also eligible for One month basic pay towards the Leave Travel Assistance to make necessary travel arrangements for a holiday with the family member in a year. Employee has to apply for a minimum of 3 days of PL to avail the benefit of this policy. This travel is to cover the expenses of his to and fro travel to one particular destination within India.
All employees have to opt for the Leave Travel Allowance through the Payroll Self Service. Employee has to submit his/her travel tickets in original to get the tax benefit of this plan.
Medical Benefits
- Health Insurance: Medical insurance is provided for in-patient hospitalization, subject to a minimum of 24 hours for events/ailments such as accidents, maternity and pre-existing disease coverage, for all employees and three dependents (spouse/children). The Company also provides coverage for parents up to the age of 80 at the point of entry into the plan.
- Medical Reimbursement: The Company will reimburse 75% of employees’ primary care medical expenses (subject to submission and approval of appropriate receipts, invoices, etc.), up to a maximum of Rs.15,000 per annum per employee plus dependents (spouse/children).
Restaurant Vouchers: Employees are entitled to receive daily restaurant vouchers, which can be redeemed at the onsite restaurant, or at restaurants in the vicinity of the office. This is included as part of the employee’s base package.
Term Life Insurance: The Company provides Term Life Insurance to all employees and a lump sum is payable on death in service due to accidental or natural causes. This is equal to three times an employee’s Cost To Company (CTC).
Personal Accident Insurance: The company provides Short and Long Term Disability Insurance to all employees. Employees are entitled to claim Permanent Total Disablement, Permanent Partial Disablement and short-term disability if the event arises
Training & Staff Development: Training (both technical and soft skills) is offered via classroom and web conferencing. Computer-based training is also offered to all employees through an internal learning management system. A variety of resources is available to employees, including a wide range of on-line courses, advice on how to manage a range of work situations and the Company’s standard operating procedures.
Business Book Review: For employees at management level, free access is provided to summaries of many popular business books, with new titles every quarter. The library includes over 550 summary reviews of leading business books in leadership, business strategy, customer satisfaction and personal growth, providing a concise, chapter-by-chapter synopsis, as well as a critical evaluation of the quality and value of the book.
Education Reimbursement: In addition to the internal training program, UnitedHealth Group provides assistance in paying education costs for eligible employees who seek to improve their current job skills and are approved for enrollment in outside educational courses
Employee Referral Programme: Employees of the Company are invited to refer individuals they know who may be suited for positions advertised. In the event a candidate referred by an employee is hired, the employee may receive a cash bonus depending on position and grade.
Concierge Services: UnitedHealth Group is committed to helping you balance your busy personal life, with the busy work day. The Concierge Desk, conveniently located within our office, provides services such as travel planning, personal banking assistance, dry cleaning, courier services, party planning and tickets to the cinema to all employees for a nominal fee.
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