Zhr Ftr Bond

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Transcript of Zhr Ftr Bond

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  Foreign Travel Request Bond 

1. Objective:

Global exposure is encouraged and is desirable for an individual's personal & professional development.Wipro always attempts to provide opportunities to its employees to gain global exposure. As theorganization invests considerably in providing this exposure, it expects the employee to serve theorganization for a fair period of time in return. To formalize this expectation, and protect the company's

interest, employees going on a Long Term Overseas Deputation, henceforth will be required to accept aservice agreement which requires them to serve the company for a minimum period of six months from thedate of return from the overseas deputation. This policy defines the terms and conditions of this agreement.

2. Eligibility & Scope :

This policy would be applicable to all the employees of Wipro Technologies, Wipro Infotech, Wipro BPO& Wipro Corporate (hereinafter referred to jointly or singly as “the Company”) or such groups as specifiedby the Executive Vice President Human Resources from time to time, who meet the following criteria:

• This policy applies to all employees who are deputed from India for a long term overseas deputation

(deputation for a period over 3 months). 

• WASE-ians, retainers and employees who have been locally hired in locations outside India are not

covered as part of this policy. 

• This policy will not be applicable for employees in Bands C2 & above. 

• This policy will also not be applicable for employees who travel on Business visas. 

• This is applicable for employees who raise their work permit (WP) of Foreign Travel (FTR) request

on or after 1st August 2007, only. 

3. Policy : 

• Employees going on Overseas Deputation would be required to execute a service agreement on web

(FTR/ Work Permit Module) & a service agreement hard copy attached to the deputation lettercommitting to return to India and serve the company for a minimum period of six months from thedate of his / her return to India after completion of the overseas deputation. However, the tenure ofsix months can be served at either location (Overseas or India or both in part) based on therequirement of the reporting manager. Although service agreement is applicable for employees whoare deputed on long term overseas deputation, even the employees who are going on short termassignment would be required to accept the service agreement on the web, however, in this case, itwould only take effect if the deputation is converted into a long term deputation while the employee

is overseas. 

• Liquidated damages : 

Ø The employee is expected to return to India and serve the company for a minimum period of 6months from the date of return from the overseas deputation. In case, he does not wish tocontinue service in the company while overseas or after returning from the overseas deputation,he would be required to pay the company liquidated damages of Rs. 4,20,000 to the company.

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However, the tenure of six months can be served at either location (Overseas or Indiaor both in part) based on the requirement of the reporting manager. If theemployees services are terminated before the expiration of the Committed Serviceperiod for reasons such as Misconduct or Breach of Integrity on the part of theemployee, the Employee shall pay to Wipro liquidated damages mentioned above.

Ø The liquidated damages will be reduced pro rata basis month wise depending on the tenureserved by the employee post his/her return from the Overseas Deputation or date ofresignation whichever is earlier. If the employee wishes to separate from the organizationwhile being overseas on the assignment, employee will be liable to the full penalty amountirrespective of duration of notice period served while being overseas, unless part of or thecomplete notice period of six months is required to be served overseas based on the

requirement of the reporting manager. 

ØPro rata basis calculation : based on duration of notice served :  

o Liquidated damages value = (6 - No of months actually served) /6 * 4,20,000 

o E.g. If an employee resigns after spending one month post his return, he or she would

be liable to pay 5/6th * 420000. 

ØThe amount has been determined based on the expenses incurred by the company in providing

Overseas Deputation. 

Ø In the event of employee fails to comply with the terms of the agreement, the relieving letterwould not be provided to the employee and legal action proceeding will be initiated against

the employee. 

4. Process : 

• Before raising a Foreign Travel Request /Work Permit for overseas deputation, the concernedemployee has to go through this policy and accept the terms and conditions of the agreement

(which would be conveniently hosted in the FTR & Work permit module). 

• In addition, the employee also has to sign and return the deputation letter (which would contain

the policy terms & conditions and agreement) to wividus. 

• In the event the employee does not comply with the above and the terms and conditions of theservice agreement, the deputation would be deemed as cancelled and appropriate disciplinary

action would be initiated by the concerned TED. 

5. Exceptions : 

• All exceptions to this policy would have to be approved by Business Unit - HR.