LETTER OF INCREMENT
: Increment Letter :
Date: - 1st April 2007
Ms/Mr.
Co. Name
Branch - _______
Sub:- Letter of Increment
Dear __________,
The Company is pleased to inform you that your base salary has been revised to Rs. 1,20,000/-p.a. w.e.f. 1st April, 2007 and as a part of the Performance Appraisal and Commitment towards Company, we have given u the hike of 42.85% on your gross salary. The detailed Pay Structure is annexed as a part of this letter (Terms and Conditions, Point 1., Annexure I (II)).
Also it's our pleasure to inform you that all the other terms and conditions of your appointment remain unchanged.
Please accept our personal congratulations on this well-deserved recognition of your continuing excellent contributions and commitment to our organisation.
We appreciate the efforts put in by you and expect that you would continue to do so in the future.
Congratulations and best wishes!
Yours sincerely,
For [Co. Name]
Authorized Signatory
Name Date:- 1st of April 2007
Designation
Encl.: Annexure: - Terms & Conditions (Annexure I (II))
1.Your annual compensation package consists of a gross of Rs. 1,20,000/- Salary (Rupees One Lakh Twenty Thousand only.) per annum, Your annual Salary Break up is as follows:- Basic: Rs. 60,000/-, HRA: Rs. 30,000/-, Medical: Rs. 15,000/-, Conveyance: Rs. 15,000/- (Annexure II), with effect from the date of your joining. Income Tax /Professional Tax will be deducted each month according to the Income Tax rules as/if applicable. Each employee will be expected to take care of his/her tax planning on an individual basis. Rs. 1, 20,000/annum is your fixed salary.
Please understand that this letter spells out some of the terms and conditions of employment and that the other service rules of the company, as currently in force and as amended from time to time will be applicable to you.
I have read, understood and agree to abide by the aforesaid terms and conditions of this letter.
I accept the above mentioned terms and conditions on revised salary i.e. Rs. 1, 20,000/- p.a. w.e.f. 1st April, 2007
Signature of the employee: Date: 1st of April 2007
Employee Name
Branch - _________