Employe Benefits

LIFE INSURANCE POLICY
It is the policy of Fashion Experts to provide group life insurance to all workforce. This facility will start after the completion of a three-month probation period. In case of death of any employee, the insurance company shall pay Rs 200,000/—to the legal heirs of the employee. In case of accidental death of any employee, the insurance company shall pay double the above-mentioned amount. The company will pay the premium.

E.O.B.I POLICY
It is the policy of Fashion Experts to register each and every employee with the E.O.B.I (Employee’s old age Benefit Institution) after the probation period of 3 months. EOBI Department pays the pension to the retired employees after completion of the minimum period as per EOBI law. For this facility, the Company has to pay 5% of the total salaries of the employees to the E.O.B.I Department on a monthly basis.

GRATUITY POLICY
It is the policy of Fashion Experts that each employee is given gratuity equivalent to one month’s salary (last drawn) for each completed service year at the end of his employment as labor law. In case of death of an employee gratuity is given to his/her legal heirs.

INCREMENT & UP-GRADATION POLICY

Annual increment shall be granted to the employees according to their date of joining each year, after performance evaluation.

Only those employees shall be eligible for the annual increment in the salary who have performed well without any misconduct, based on the recommendations of the concerned department in charge, followed by the General Manager / CEO.

Those employees who had worked for less than a period of 3 months would not be entertained with the annual increment.

Special increment & up-gradation shall be given only on enhancement in the employee’s responsibilities.

Final approval of Special increment & up-gradation, the application will go with the approval of the Director / General Manager.

Stoppage in the increment may be reviewed due to his bad performance.