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No. PP- 20/2000 22.11.2001

Revision 1

WELFARE SCHEMES

The welfare scheme details all schemes presently in vogue at various locations. The welfare scheme applicable would

differ from location to location. Any welfare scheme detailed below not presently onvoguein a location will beimplemented only on special written sanction from Mumbai Corporate Office.

A. FOR STAFF

1 PERSONAL ACCIDENT INSURANCE SCHEME :

Each employee who is not covered under ESIC, would be covered under Personal Accident Insurance Scheme fromsucceeding month of joining, from any Insurance coverage provider. Amount of Insurance cover would be as under :

Grades Insurance Cover

(Rs.)

A Staff Gr I to III 100000/-

B Jr/Sr officer 150000/-

C Executive/Upto Managers 200000/-

D AGM & above 300000/-

Employees at city offices would be covered under Table - I & those at Factory under Table -II of the InsuranceCoverage provider.

2 HEALTH INSURANCE SCHEME(MEDICLAIM):

At present Employees who are not covered under ESIC are covered under Health Insurance Scheme under policy from

New India Assurance Company Ltd. Due to steep increase in the premium rate it is no longer economical to maintainthe existing policy. Hence, we have discontinued the existing policy w.e.f. 22.11.2001 and we have taken new

Mediclaim policy from New India Assurance Company Ltd for all the employees and their family members who are

covered under the present policy. An employee is covered under Health Insurance Scheme(Mediclaim) from succeedingmonth of joining. Benefits under the policy availabe one month after date of coverage. Benefits varies depending on thegrade of the employee as per the details given below :

Grades Benefit Grade Amount of Cover(Rs.)

A Staff Gr I to III IV 1,00,000

B Jr/Sr officer III 1,50,000

C Executives/uptoManagers II 1,50,000

D AGM & Above I 2,00,000

The details of the Scheme is as applicable from time to time. The present Scheme is enclosed.

For the purpose of keeping the premium independet of claims, the mediclaim policy is taken in the name of individualemployees. Medical benefits relating to Hospitalisation only is available under the mediclaim policy.

3. UNIFORMS :

All staff at factory would be provided 2 Aprons every year during 1st Qtr of the Financial year.

Drivers & Security will be provided 2 pairs of terry - cot uniform & 1 pair of shoes every year during the 1st Quarter

of the Financial year.Umbrella is provided to Drivers & Security once in two years. Security will be provided with RainCoat & Gum- Boot once in two years.

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B. FORWORKMEN

1. Workmen Compensation Plan :

All the workmen will be covered under workmen compensation plan. The details of the Scheme would be as applicable

from time to time.The present Scheme is enclosed.

2 Health Insurance Scheme :

This Scheme would be applicable only for Workmen not covered under ESIC.

Up to gross salary of Rs 3500/-p.m., Workmen will be paid Medical Allowance @ 4% of Basic+DA+ HRA. Workmendrawing gross salary (i.e. Basic+DA+HRA) above Rs 3500/-p.m. will be covered under Health Insurance scheme

under Benefit Grade - IV . Changes would be effective from the begining of the financial year i.e. April of every year.

3. UNIFORMS:

Every Workmen will be provided 2 pairs of cotton uniforms & 1 pair of industrial safety shoe once every year duringthe 1st Qtr of the Financial year.


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No. PP- 20/2000 01.08.2000

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C. GENERAL

1. Dassera pooja:

Dassera Pooja will be conducted on Dassera Day, during the 2nd half of the day every year. All employees

would clean their work place/machines and conduct pooja at Plant site. Sathyanarayana Pooja

would be conducted at the respective Plant site. Company would contribute equivalent amount of

contribution by staff/workmen at the location.This would be the ceiling limit for expenses.

During the Pooja day award for long service with the Company will be distributed as follows :

on completion of 15 years of service : 50 grms of silver coin with Company

monogram.

on completion of 20 years of service : 4 grms of gold coin with Company

monogram.

on completion of 25 years of service : TITAN Wrist Watch

(upto a value of Rs. 5,000)

Best attendance award would be given to employees having maximum number of working days in a year.

Top 3 employees would be given suitable gift as approved by location head.

2 Distribution of sweets: once a year 1/2 kg of sweets would be distributed to employees at the companys

expenses. The location head could decide either to give it during Dasserra day or during Diwali. This

practice may differ from Location to Location.

3 Picnic : All workmen & staff would go on a daylong picnic during December/January once a year. The

picnic location would be about 100 kms from the location. Transport arrangement would be paid for by the

Company. 25% of the other expenses will be contributed by the employee & balance will be borne by theCompany.

Pooja on the Inauguration Day :

At each location Sathyanarayana Pooja would be conducted at site . Expenses would be met by thecompany. Half day would be devoted to Pooja. In case the day falls on a holiday snacks consisting of 1

sweet, 1 namkeen, chips, samosa or equivalent with Tea, Coffee/cold drink would also be provided .

However no wages would be payable on off day.

R R Shenoy

Director Corporate Affairs

Applicable to : FFL/FSL : Mumbai, Bangalore, Khopoli

SL : Mumbai, Bangalore, Asangaon

Sansha : Bangalore. FBL : Pune

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