NexCred Finance Limited
CIN: U64910JH2025PLC025950
First Floor, Ward No - 36, NH-33, Ranchi - Patna Rd, Masipirhi, Hazaribagh, Jharkhand 825301
Tel: +91 97 7137 5522 | Email: hr@nexcredfinance.com | Web: www.nexcredfinance.com
To,
--
--
Email: -- | Contact: --
SUBJECT: OFFER CUM EMPLOYMENT APPOINTMENT LETTER
Dear Candidate,
With reference to your application, interviews, and subsequent discussions with our management, the Directors of NEXCRED FINANCE LIMITED ("Company") are pleased to offer you formal appointment on the following terms and statutory conditions:
1. DESIGNATION & BAND
You will be designated as "--" in the Operations department of NEXCRED FINANCE LIMITED. Your reporting line will be communicated at the time of induction.
2. COMMENCEMENT & RETIREMENT AGE
2.1 Basis your confirmation that you were relieved from the services of your previous employer as of your joining date, please note that your employment with NEXCRED FINANCE LIMITED will commence on -- and will continue on an ongoing basis until terminated by either party with prior notice as per Clause 5.
2.2 The statutory retirement age in the Company is 60 (sixty) years. Your employment shall stand terminated without separate notice on the last working day of the month in which you attain the age of sixty years.
3. HOURS AND PLACE OF WORK
3.1 You shall be based initially at our Corporate Office in Hazaribagh, Jharkhand. However, you may be required to serve or be transferred to any branch, subsidiary, corporate division, or field office across India as business requirements dictate.
3.2 You may be required to travel nationally and internationally on the business of the Company.
3.3 You will be required to work such hours as may reasonably be expected of you and as is consistent with an executive appointment of this nature.
3.4 You will observe the scheduled working hours and attendance policies of the Company. You are required to punch in and out accurately via the designated biometric/web attendance system.
4. REMUNERATION, ALLOWANCES & RECOVERIES
4.1 Your monthly Basic Salary will be ₹-- (--) with House Rent Allowance (HRA) of ₹-- per month. The detailed annualized structure and statutory deductions are set out in Annexure-A.
4.2 All statutory deductions, including Employee Provident Fund (EPF), ESIC, Professional Tax (PT), and Tax Deducted at Source (TDS under Section 192), shall be withheld in accordance with the law.
4.3 You hereby authorize the Company to set off and deduct from your salary, leave pay, notice pay, or final settlement any financial liabilities, advances, unreturned assets, or losses caused to the Company.
5. TERMINATION OR RESIGNATION FROM SERVICE
5.1 The employment can, subject to company policies, be terminated by either party by serving 90 (Ninety days) written notice to the other party.
5.2 The Company reserves the right to accept or reject notice pay in lieu of notice period. In case of gross misconduct, fraud, insubordination, or breach of confidentiality, the Company reserves the absolute right to terminate employment immediately without notice or pay.
5.3 On or before termination, you agree to immediately delete any reference to the Company from any Digital Media/social networking profiles.
5.4 If employment is terminated by the Company or by you prior to 12 months from your Commencement Date, you agree to pay back any joining bonuses or expense reimbursements within 30 days.
6. ANNUAL SALARY REVISION
We follow an April to March performance cycle. All salary revisions come up for review in the month of April at the sole discretion of the Company.
7. PERFORMANCE BASED VARIABLE BONUS / INCENTIVE
You will be eligible to participate in the Company's variable incentive programs based on personal and institutional performance metrics as determined by management.
8. COMPANY POLICIES AND PROCEDURE
You will devote all your working time to the business of the Company, protect its interests, and comply with all disciplinary, POSH, IT security, and operational standards. You will inform the Company immediately of any conflicts or disclosures required under the Companies Act, 2013.
9. ADDITIONAL DUTIES
You agree and consent that the Company may require you (without additional remuneration) to carry out different or additional duties consistent with your status and position in the Company.
10. EXCLUSIVE EMPLOYMENT & NO MOONLIGHTING
While employed by the Company, you will devote your whole time and attention exclusively to the business of the Company. You shall not engage directly or indirectly in any other commercial trade, consultancy, part-time business, or dual employment without express prior written permission.
11. INTELLECTUAL PROPERTY RIGHTS
All intellectual property, financial software, algorithms, documentation, lending models, databases, trade marks, and domain knowledge conceived or developed by you during employment shall vest solely and permanently with NexCred Finance Limited without additional compensation.
12. CONFIDENTIALITY AND NON-DISCLOSURE
You shall maintain strict secrecy regarding borrower information, credit underwriting parameters, corporate accounts, financial statements, and technological systems. You agree that in the event of violation, the Company is at liberty to initiate appropriate legal action for data theft and criminal breach of trust. This obligation survives post-separation indefinitely.
13. COMPANY'S IMAGE
You will always conduct yourself in a manner that protects and enhances the ethical reputation, integrity, and public standing of NexCred Finance Limited.
14. FALSE RECORDS & PRE-EMPLOYMENT CHECKS
This offer is conditional upon satisfactory verification of your character, educational degrees, background, PAN, Aadhaar, and credit standing. If any disclosure is found misleading, false, or fraudulent, your services are liable to summary termination without notice.
15. GENERAL & JURISDICTION
This contract of employment shall be governed by and construed in accordance with the laws of the Republic of India. The courts situated at Hazaribagh, Jharkhand shall have exclusive jurisdiction over all disputes arising hereunder.
For NEXCRED FINANCE LIMITED,
MANOJ GOYAL
Head - Human Resources
Corporate HR & Legal Directorate
Candidate Acceptance: I have read, understood, and unconditionally accept the appointment on the above terms.
Signature
Date: ______________
ANNEXURE - A: DETAILED SALARY STRUCTURE & CTC
NexCred Finance Limited • Compensation & Statutory Benefit Schedule
| Employee ID | : -- |
Candidate Name | : -- |
| Designation | : -- |
Date of Joining | : -- |
| Department | : Operations |
Cost Centre | : NCF-CC-101 (Masipirhi) |
| Compensation Component |
Monthly Breakup (₹) |
Annual Breakup (₹) |
| Basic Pay |
-- |
-- |
| House Rent Allowance (HRA - 40% of Basic) |
-- |
-- |
| Special Allowance |
₹10,000 |
₹1,20,000 |
| Conveyance Allowance |
₹3,000 |
₹36,000 |
| Employee Provident Fund (EPF - 12% of Basic) |
-- |
-- |
| Professional Tax (PT - Statutory) |
₹200 |
₹2,400 |
| Income Tax Withholding (Estimated TDS Sec 192) |
-- |
-- |
| Total Estimated Monthly Deductions (B) |
-- |
-- |
| Net In-Hand Remittance (A - B) |
-- |
-- |
Statutory & Organizational Benefits:
• Gratuity: Payable as per the provisions of the Payment of Gratuity Act, 1972 on completion of five years of continuous service.
• Group Term Life Insurance: Corporate coverage with sum insured of ₹20,00,000/- (Twenty Lakhs) per employee.
• Group Accident & Hospitalization: Comprehensive accidental insurance (₹30,00,000/-) and family floater health coverage up to ₹3,00,000/- as per policy terms.
• Statutory Bonus: Paid annually as governed by the Payment of Bonus Act, 1965.
Authorized Signatory
NexCred Finance Limited
Employee Acknowledgment
Date: ______________
