Employee Policies

Policies Handbook for Employees


Issue date: 01 Jan 2018, Modified: 28Nov18, search for tag 180109, tag 181128

General

This policy describes our employee best practices. RaceNext Information Solutions Pvt. Ltd. (herein referred to as “RaceNext”, “we”, “us”, “our”) through our website RaceNext.com (the “Site”) and the related services (collectively the “Services”) constantly works towards professional fulfillment and personal contentment of the individuals we work with.

These policies apply to all individuals employed (herein referred to as "employee", "personnel", "you"), whether permanent, fixed or temporary and all those contracted to work with Racenext. The points in this policy are illustrative and explanatory in nature and in no way intend to limit the applicability of administering this policy towards best governance.

It is incumbent on each individual to understand these policies. Ignorance of company policies is not an admissible defense if and when a violation is being investigated. Once a violation is established, it is upto the sole discretion of the company to determine the consequences, keeping into view the regulatory framework, the overall business impact and likely loss to Company in that context.

Information Confidentiality

"Confidential Information" means any information relating to the business of the Company, whether or not marked or designated as confidential, secret or otherwise.Example: employee contact details, client contact details, supplier info, project details, commercials, drawings, passwords etc.

Employees are strongly urged to keep all company information of all type confidential. You should share, only that information that is cleared for distribution to others. When in doubt, seek clarification, do not disclose.

Do not disclose any information of a confidential nature relating to the business of the Company, or its associated or related corporations or its suppliers, agents, distributors or customers (save in the proper performance of your duties under this Letter of Appointment or unless ordered to do so by a court of competent jurisdiction), use for your own purposes or for any purposes other than those of the Company, or its associated or related corporations or through any failure to exercise all due care and diligence, cause any unauthorised disclosure of any secret, confidential or private information relating to the affairs of the Company, or its associated or related corporations or its suppliers, agents, distributors or customers or in respect of which any entity in the Company, or its associated or related corporations is bound by any obligations of confidence to any third party. This restriction applies to both during your employment with the Company and after termination of your employment without limit in point of time but shall cease to apply to information or knowledge which may come into public domain otherwise than through your default or which is otherwise required to be disclosed by law.

Salary information, Supplier payment information, Customer invoicing information etc. are strictly confidential. Any evident disclosure or discussion of these is a breach of this policy.

Do not post online or any other public forum, your personal comments, opinions, pictures regarding company premises, company personnel, policy decisions or regarding any political or religious developments outside the company.

Recruitment & Onboarding

Racenext does not discriminate candidates based on caste, religious preferences, personal preferences. All selection are done on merit only.

Every employee undergoes Induction, Orientation, Onboarding before engaging with client.
  • About the company, organization, customers, projects, goals, employee policies
  • Employee ID, documents archival, personal details, bank accounts, NDA, entitlements

Any discrepancies in employee records submitted can adversely impact onboarding itself. Racenext is not liable for losses incurred by candidates due to erroneous or incomplete information provided by candidates.

Note:Employees should inform the company, in writing and long with necessary supporting documents, any change in their personal information. e.g. contact address, mobile, email, bank account, marital status, health status, educational qualifications etc.

Compensation Policy

Salaries are disbursed each month from RaceNext Information Solutions Pvt. Ltd. Employees should Acknowledge within 2 working days in the specified format.

The company reserves the right to revise the salaries, in line with applicable regulations, based on performance, market conditions and financial growth of the company. The Company shall duly analyse the impact of such changes to all stakeholders.

New joinees are placed on probation for a period of six (6) months. The probation period may be extended or shortened based on work performance at the sole discretion of the Company.

Attendance|Work Timing

The work schedule as per company policy is 6 days per week and work timings are from 9:30 a.m. to 6:30 p.m. When on client location, the employee should adhere to work calendar and requirements on site. At the client location, the personnel should report to a designated reporting supervisor on site. When placed on site, employees need to comply with the attendance management systems set by Racenext as well as those specified by clients for releasing the monthly payments.

Work from home

Note:181128

During emergencies the insurance, legal and police authorities demand accurate information of presence at workplace. Work from home is permitted only under special conditions of late working previous day or adverse travel/natural conditions or illness. Requires written approval from authorised racenext personnel as well as client. Otherwise it is treated as absence. The DailyLog reporting assumes you are the workplace. It is the responsibility of employee to clearly indicate if an activity log was filed from any other place. Any attempt to outsmart this system will incur punitive action including termination of service.

Leave Policy

Racenext publishes a holiday calendar, listing paid holidays, at the beginning of each calendar year.

During their probation period, employees can avail 3 days leave for medical emergencies with due notice. However, if an employee resigns within the first 3 months, any leave taken will be deducted from employee’s salary as if it were paid leave.

Employees are entitled to twenty one (21) working days leave annually after completion of probation period. All leaves must be approved by your reporting manager as well as agreed by the on-site reporting manager.

Leave requests must be applied in the specified format well in advance to reduce the impact of your absence at work. Unauthorised leave will be could result in deduction in payroll computation and also adversely impact the performance rating and continuation of employment.

Racenext will not employ administration efforts to track partial day units of work. In that context, repeated and excessive irregularities to report to work will be treated as full-day absence.

As per Racenext policy, only upto five (5) days of annual leave may be carried forward to next year and any leave in excess will lapse after 31st December. Upon retirement, resignation or termination of contract, annual leaves shall not be encashed or transferred by the employee.

Expense Re-imbursement

All expenses included travel, mobile, medical etc. are included in the salary components. There shall be no additional allowance or reimbursement by the company, unless pre-approved by the company in writing. If and when required employee shall undergo a standard Medical test at her/his own cost.

180109:Note:Racenext employees are advised not to enter into any financial transactions, esp. involving cash or reimbursement, with client team members or other individuals.

Insurance, Medical, Travel and other Employee Benefits

Insurance: All employees are covered under TATA AIG Workmen Compensation Insurance policy uploaded for FY1819 here. See for FY2017_18.

Travel and Lodging: All such expenses will be prepaid or reimbursed on a case to case basis depending on the need of the project. Claiming expenses directly from the client is strictly prohibited under any circumstances.

Medical: Employees can use the provisions of the Companies Act to deduct medical expenses for income tax computation.

Education: Racenext may at it's sole discretion sponsor professional certification for deserving employees. In some case, the Company may re-imburse partly or fully the expenses borne by employee towards a relevant professional upgrade. In turn, the company might ask the employee to sign an employment bond to protect the Company's investments.

Advance Salary, Loans: There are currently no provisions for the same. The employees are advised to independently plan their finances to provide for such requirements. In case of dire emergencies of unforeseen and inevitable nature, as decided by the Company, the Company reserves the right to take suitable decisions on humanitarian grounds.

Employee Referral

Employees may recommend qualified friends, relatives or colleagues for job opportunities. Racenext recruitment is strictly merit based and fitment of the skills to the available business opportunity.

Interns shall not be entitled to compensation and other employee benefits. The company may, at it's sole discretion, decide reimbursement on travel and other such expenses for specific internship assignments.

Employee Separation

Resignation: Employees must first discuss with reporting supervisor, then submit resignation in writing. A suitable Last Working Date (LWD) not earlier than 30 days is expected. The salary will be computed pro-rata as per Company rules. Employee should hand over Company's assets immediately.

Retrenchment: The Company may ask an employee to leave with a similar 30 days compensation. The salary will be computed pro-rata as per Company rules. You will hand over company data, passwords and assets to get the final settlement.

Prolonged Absence: Unauthorised absence from work for more than three (3) days or not fulfilling the tenure of the separation notice period is likely to cost the company and will subsequently make the employee incur a penalty. The company may also recover business damages and also litigation costs from the employee.

Termination: Employment will be terminated by the Company if there is objective evidence of misbehavior, indiscipline, intent to cheat, financial fraud, social violations or bad performance reports from on-site client manager. The employee in question will not get any re-imbursement and if needed also reported to the authorities. The company can also recover business damages and litigation costs from the employee.

Untimely Death: The company will, as per law, will provide the final settlement to the designated nominees only. All leaves will be encashed as per the basic salary. The Company and colleagues may provide additional assistance the bereaved family voluntarily on humanitarian grounds.

Responsibility|Code of Conduct

You represent the company and will do everything that is needed to uphold the credibility of the company. You will be well groomed and will interact with everybody with politeness and respect.

You agree to attend to the duties punctually, with high availability at work and endeavor to discharge the entrusted duties diligently and to the best of your capabilities.

You will strictly adhere to the Information Security policies, Safety policies and all other policies laid down by the Company and by the client, when deputed on-site.

You will not try to hide / suppress any information that is essential for the Company to operate and engage with the client.

You will bring to notice, with strict confidentiality, any inappropriate activities/behavior that you may have observed or encountered during your work tenure with the company.

You will endure to continuously improve your technical and management skills relevant to improve the business relations and quality of service delivery to clients of Racenext.

You shall not, without the previous written consent of the Company, during your employment, be engaged or interested either directly or indirectly in any capacity in any trade, business or occupation whatsoever other than the business of the Company. In this Clause, the expression "occupation" shall include any public or private work, which in the reasonable opinion of the Company may hinder or otherwise interfere with the performance of your duties as per the Letter of Appointment.

181128: You shall not try to manipulate or outsmart a governance process or system, out of curiosity or any malafide intent.

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Company Assets Policy

In order to ensure that the customer work is executed with the highest quality and as contracted, Racenext might need to entrust few work products and assets to it’s employees and contractors. Assets may include laptops, gadgets, equipment, business data, software licenses, online subscription, material passes, identity cards etc.

The custodian and users of such assets are expected to handle the assets with professional care to prevent loss, damage, theft, distortion and wear & tear. In most cases, the assets are not meant for personal use. For high cost assets, Racenext might insist on a contractual bond with a commercial value to protect the Company's capital investments.

The recipient and users of the assets, strictly should not tamper with any label, tags, identification, copyright messages on assets issued for use. Do not try to experiment with changes to the input fuel or raw material or input values required for running the assets. It is not acceptable that the asset is re-located, re-configured, archived, warehoused, quarantined, returned, discarded, rented, loaned or shared without the explicit written permission of the directors of the Company.

Custodians and users of Company's assets should adhere to specified procedures for cleaning, maintenance, upgrades etc. required for productive functioning of the assets invested in by the company. Asset users are asked not to trouble-shoot, repair, reverse engineer, test the asset or use it in any way other than the intended usage of the asset. Only identified individuals will interact with the asset suppliers to log tickets and service requests. The custodian will track and regularly report to the Company all known issues for a particular asset allocated. Data assets need to be regularly backed up as instructed. Loss of information or data under any circumstance is a loss and is not acceptable.

An employee has to return all assets in his/her name, along with accessories and other associated items belonging to the company, before separation and final settlement of dues.

 

Regulatory Compliance: PF, PT, GST, I.Tax etc.

RaceNext endeavours to adhere to all regulatory compliance. Employees are urged to freely highlight any violations or inadequacies observed. The company will take all possible measures to satisfactorily rectify any gaps.

Employees are strongly urged to adhere to procedures defining regulatory compliance in matters of their personal finances and commercial dealings.

 

Anti Bribery and Anti Corruption

A bribe is an inducement incentive (monetary, gifts, business data, favours, kickbacks, hospitality, entertainment, employment, re-imbursement, donation etc.), promised or provided to manipulate the stated norms towards any commercial or other benefit. It is an offence to bribe any public official, elected, appointed or those who hold legislative, administrative or judicial position. Bribes give rise to corruption. Corruption, in it's simplest form, is any dishonest act with vested interest towards gains or benefits.

Racenext strongly discourages any of it’s employees and associated individuals from indulging in any sort of transactions involving bribes and corruption, whether related to context of official work or outside business dealings. Racenext sincerely urges all their business associates also to give due importance to this anti-bribery and build awareness, institute apt programs for their organizations.

Gifts is an important part of business and token gifts like calendar, pen, mugs, books, t-shirts, bouquet, sweets, dry fruits, meals bill etc. are acceptable for festive exchanges, or if it is pre-authorised or it is intended to improve the image of Racenext or intended to promote cordial relations and does not have binding with a conditional expectations of favours or influencing any decision, amount, law or process.

Racenext cautions its junior employees to guard against suppliers giving monetary gifts in cash or transferring large sums of money in their bank accounts. Employees to bring such events to the notice of concerned top management immediately. To avoid potential situations, insist on official receipts for any payments or official delivery challans for goods etc.

Gift recipients are asked to register with the directors of Racenext, full details of items received, intention, name of provider. Knowledge of anyone receiving gifts also needs to be disclosed to directors within 2-3 days. As a policy, whistle-blowers interests will be protected.

Employees are advised not to accept or deposit any direct donations in the name of Racenext.

It is not acceptable to accept, offer, promise or solicit payments, information, favours which may be argued as case of bribery or corruption. Passive participation, ignoring any evidence of corruption or bribery or 'willful blindness’ carry the same disciplinary action as the intentional act. Retaliation or threatening another associate individual who has refused to participate or any other activity that might lead to a breach of this policy is not acceptable.

 

Inclusivity

Racenext is an employee friendly company and is willing to adopt progressive policies to make employees more productive within the framework of the Indian Companies Act. Employee referrals are strongly recommended.

We encourage all to suggest improvements. Updates to policies will be highlighted for easy viewing.