Purpose

To offer educational assistance for employees’ children, reflecting the company’s commitment to supporting education and promoting a healthy work-life balance for all employees.

Policy Guidelines

1. Eligibility Criteria

• The employee must be a confirmed, full-time staff member.

• This policy covers a maximum of two dependent children per employee.

• Eligible child(ren) must be enrolled in a recognized school/college/university within the country and possess a valid registered ID.

• Educational support is available for students from kindergarten through 12th grade (up to the second year of PUC).

2. Procedure to Avail Benefit

• Maximum Benefit: Limited to ₹40,000 per child per year.

• Payment Method: The benefit will be paid directly to the respective school/institute/college via cheque or Direct Draft (DD).

• Documentation Required: Employees must submit the following educational support documents:

a) Fee receipts

b) Proof of enrollment

c) Previous year mark sheet (if available) is required.

• Payment Frequency: Funds will be disbursed once during the academic year.

• Reimbursement Option: If the employee has already made the payment, they can claim reimbursement by providing the original receipt and proof of enrollment.

3. Conditions

• The employee must remain on active payroll to be eligible for reimbursement.

• The benefit becomes applicable only after the successful completion of the probation period.

• This benefit does not extend to children enrolled in daycare or playgroup programs.

• If an employee leaves the company within 12 months of receiving the education allowance in their first year of employment, the amount will be deducted from their final paycheck (FnF).

4. Tax Implications

• Benefits under this policy will be taxed according to current income tax laws.

• Employees can contact the Finance or Payroll team for help with understanding tax exemptions

For any queries or assistance related to this policy, please reach out to the relevant departments below:

Summary of Key Points

• Eligibility: Confirmed full-time employees; aid for two dependent children in recognized educational institutions.

• Benefit Limits: ₹40,000 per child per year, with defined payment and documentation processes.

• Conditions: Active payroll status, completion of probation, and compliance with repayment terms if employment ends early.

• Tax Guidance: Adherence to tax laws with support available from the finance team.

This policy underscores our commitment to supporting employees and their families with meaningful benefits that foster growth, stability, and overall well-being. Together, we aim to build a future where both our people and their families can thrive.