Not sure which covering letter you want, but assuming it is a compensation review letter, forwarding a basic draft, which of course will have to be modified:-)
xxxxx, xxxx(date) ADDRESSEE ONLY
Emp. No. «Emp_No»
I am pleased to advise you that your Fixed Compensation Cost (FCC) has been revised from Rs. «Old_FCC»/- to Rs. «New_FCC»/- p.a. with effect from xxxx. This results in an increase of «increase»% over your current FCC.
Your revised Total Cost to Company (TCC) is Rs. «TCC»/- p.a. as detailed below:
Basic (35% of FCC) Rs.«Basic»/-
Flexible Compensation Plans (FCP) Rs.«xxxx»/-
Company Car Rs.«car allow»/-
Variable Pay(xxxxx) Rs.«Varble_Pay»/-
Total Cost to Company (TCC) Rs.«TCC»/-
The options and entitlements under the FCP are being revised and will be notified in a separate announcement.
The increase in TCC has taken into account market scenario and individual performance and contribution.
All matters related to your compensation are strictly confidential between you and the company and should be treated as such.
All other terms of employment will remain unchanged.
7th September 2007 From India, Bangalore