Thank you Raxit for your valuable advice. I have incorporated all that you have mentioned, in my proposal to the client. What I have included -
1. Scope of work
a. Basic policies Attendance, Leave, Compensation, Training, Exit, Recognition
b. SOP's - exhaustive. Record every process
c. Formats of letters and forms
d. Performance management system
e. Prepare JD's to optimize costs
f. Prepare HR manual - Organisation chart, Vision, Mission, Core Values etc.
Client not open to equity.
Based on the scope of work - I feel 50k is justified.
Thank you all and have a lovely weekend.
Madhavi