Compensation & Benefits Policy

Effective Date: 01-Jan 2025

Applies To: All Employees of LMNAs

1. Salary Structure & Payroll

1. Salaries are determined based on role, experience, and market benchmarks.
2. Payroll is processed on the first day of each month for the payout of the previous month, with salaries credited to employees' registered bank accounts.
3. Salary components include:
4. Fixed Pay: Base salary
5. Variable Pay: Performance-based bonuses (if applicable)
6. Allowances: LMNAs FlexiBen, Low-Carbon Allowance, and other benefits
7. Taxes and statutory deductions (PF, PT, TDS, etc.) are applied as per government regulations.

2. Overtime & Compensatory Leave

1. Overtime is applicable only for eligible roles and must be pre-approved.
2. Employees working beyond standard hours can avail compensatory leave instead of overtime pay, subject to manager approval.

3. Bonus & Incentives

1. Performance-based bonuses are awarded annually, subject to individual and company performance.
2. Sales and business development employees may receive additional incentives based on revenue contributions.
3. All bonuses and incentives are at the company’s discretion.

4. Gratuity & Provident Fund (PF)

1. Gratuity is payable to employees who complete 5+ years of continuous service.
2. It is calculated as per the formula:
3. Gratuity = (Last Drawn Basic Salary × 15 × No. of Years of Service) ÷ 26
4. PF Contribution: 12% of basic salary is contributed by both employee and employer (with 1% as admin charges).

5. Health & Insurance Benefits

1. LMNAs provides group health insurance covering employees and eligible dependents.
2. Employees can opt for additional top-up coverage at their own cost.
3. Accidental and disability insurance is provided as per company norms.

6. Leave Encashment & Year-End Benefits

1. Unused annual leave cannot be encashed but can be carried forward as per company policy.
2. Special year-end performance-based rewards may be provided based on individual contributions.

7. Tax & Compliance

1. Employees are responsible for declaring their tax-saving investments annually.
2. LMNAs will provide Form 16 and comply with all tax regulations.

8. Low-Carbon Allowance

1. LMNAs provides an annual Low-Carbon Allowance of ₹12,000 to encourage eco-friendly commuting and sustainable living.
2. Employees can claim this allowance by submitting a benefit claim along with supporting evidence.

Claim Process & Eligibility

To be eligible for reimbursement, employees must provide one of the following:

1. Public Transport Users:
2. Monthly/weekly transit pass receipts
3. Individual tickets for public transport (bus/train/metro)
4. Cycling/Walking Commuters:
5. Rental/lease receipt showing residence within a walkable/biking distance from the office
6. Photographic proof or an official declaration confirming regular cycling/walking as a mode of transport

Submission & Reimbursement

1. Claims must be submitted monthly, before the last day of each month.
2. Submissions should be made through the HR portal, attaching valid supporting documents.
3. HR will verify the claims, and reimbursements will be processed in the following payroll cycle.
4. Any fraudulent claims will lead to disqualification from the allowance.