Date: SIECORP/24/11/XXXX

Appointment Letter

Dear Palash Karak,

We are delighted to formally offer you employment with Singapore Infrastructure and Energy
Corporation (referred to as 'SIECORP'). After thoroughly reviewing your skills and qualifications, we are
confident that you will be a valuable asset to our team. We eagerly anticipate your contributions to the
continued success of our organization.

Please find enclosed the terms and conditions of your employment, including details of compensation and
benefits, in Annexure A.

Employment Details

➢ You are hereby appointed to the position of Senior Finance Officer within the Singapore Business
Unit of Singapore Infrastructure and Energy Corporation (SIECORP). The company reserves
the right to modify your job responsibilities as needed, based on the tasks assigned to you. Your job
title must be included in all internal communications and email signatures, and you are also
authorized to use it for professional social purposes.

➢ Your initial workplace will be at West Bengal. However, your role may require relocation to other
offices, locations, or subsidiaries of Singapore Infrastructure and Energy Corporation (SIECORP),
whether existing or to be established in the future, based on business requirements. Any such
relocation will adhere to the company’s standard policies and will be subject to mutual agreement.
The terms and conditions applicable at the new location will govern your employment.

➢ Your appointment is set to commence on April 14, 2025, or earlier if mutually agreed. This is
subject to the successful completion of onboarding formalities. You must submit all required
documents, as specified in the Mandatory Document Checklist, within two business days. Failure to
provide these documents may lead to the withdrawal of this offer. Additionally, if we do not receive
confirmation of your acceptance by the specified date or fail to agree on a timeline, the offer will be
considered rescinded.

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
 ➢ In accordance with company policy, you are required to submit verifiable documentation of your
most recent salary, educational qualifications, and professional references within two business days.
Furthermore, you must confirm that no existing contractual obligations will impede your acceptance
of this offer or your ability to commence employment on the agreed-upon date. Please consult the
Document Checklist for detailed guidance.

➢ At the commencement of your employment, you are required to report to the designated HR
Manager or another assigned official. Detailed reporting instructions will be shared with you prior to
your start date.

Job Duties & Responsibilities

• Oversee all financial operations and direct corporate financial planning and structure.
• Coordinate, analyse, and report the financial performance to Management and Board of Directors.
• Prepare short and long-term financial forecasts of financial performance for use with internal
management and external parties.
• Oversee audit and tax functions, coordinate activities with outside audit firms and review firms'
performance.
• Manage the preparation of the official annual report of actual revenues, transfers, and expenses.
• Ensure compliance with local, state, and federal budgetary reporting requirements.
• Work with Human Resources to secure candidates who will be an asset to the finance department.
• Establish and maintain financial controls with the accounting department.
• Serve as one of the trustees and oversee administration and financial reporting of the organization's
Savings and Retirement Plan.
• Assist in the design, implementation, and timely calculations of wage incentives, commissions, and
salaries for the staff.
• Oversee Accounts Payable and Accounts Receivable and ensure a disaster recovery plan is in place.
• Oversee business insurance plans and health care coverage analysis.
• Maintain relations with external auditors and investigate their findings and recommendations.
• Ensure compliance with all legal and regulatory requirements.
• Ensure that record-keeping meets the requirements of auditors and government agencies.
• Report risk issues to the audit committee of the board of directors.

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
Leave Policy

• You are entitled to 24 days of paid leave annually.

• During your probation period, you will be granted 12 casual leave days, accrued at a rate of 1 day per month.
• Upon successful completion of your probation, you will become eligible for an additional 12 paid leave days.

Confidentiality

➢ Confidential Nature of Employment: Your role at SIECORP is highly confidential, requiring the
utmost discretion when handling information related to the Company, its affiliates, and its clients.
You must not disclose any details—whether concerning the Company’s operations, strategies, or
financial interests—to unauthorized individuals. This obligation extends to all proprietary or
sensitive information acquired during your employment and continues indefinitely, even after your
employment with the Company ends.

➢ Client and Consumer Information: During your employment, you may access sensitive
information about SIECORP's clients and, in some cases, their end consumers. All such information
is strictly confidential and must not be shared or discussed with unauthorized individuals inside or
outside the Company. You are responsible for safeguarding this data and maintaining its
confidentiality throughout and beyond your tenure.

➢ Restrictions on Public Dissemination: You are strictly prohibited from sharing any Company-
related documents or information—official, operational, or informal—in any public forum without
explicit prior written approval from the Company. This includes mediums such as papers, journals,
articles, pamphlets, or other public communications to ensure the protection of the Company’s
confidential and proprietary interests.

➢ Return of Company Assets: Upon termination of your employment, you are required to return all
Company-owned assets and properties promptly. These include, but are not limited to, leased
equipment, documents, digital files, books, papers, memos, and any other materials belonging to the
Company. Failure to return such items may result in legal action or other measures as deemed
necessary by the Company.

➢ Compensation Confidentiality: Your individual compensation package, including the terms of your
initial offer and any future adjustments, is strictly confidential. Your salary and benefits are
determined based on your specific role, skills, experience, and merit within the Company. You are
expected to maintain the highest level of discretion regarding all matters related to your
compensation, ensuring this information is not shared with colleagues or external parties. Any breach
of this confidentiality will be considered a violation of Company policy and may result in
disciplinary action.
Call us at: +91 (796)-9372-971
Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
Terms and Conditions

1. Background Checks and References

• Your employment is contingent upon the successful completion of references and
background checks, which may include criminal, financial, or other verifications as per
Company policies and regulatory requirements. Unsatisfactory results may result in
immediate termination without further obligation.
• In the event of an unfavourable result, you may contest the findings by providing
justifications or supporting documents. During this review, you will be placed on unpaid
leave until a resolution is reached.

2. Probation Period
• The probationary period is 180 days from your start date. Performance and suitability for the
role will be assessed during this time. Upon successful completion, you will be confirmed as
a permanent employee.
• Either party may terminate the employment during probation with a 90-day written notice or
equivalent compensation. The Company may waive the notice period if deemed necessary.

3. Post-Probation Termination
• After confirmation, either party may terminate the contract with 90 days' notice or
compensation in lieu. The Company reserves the right to waive or require full notice
depending on business exigencies.
• No notice or compensation will be provided for terminations due to misconduct, policy
violations, or unsatisfactory background checks.

4. External Employment Restrictions

• Engaging in external employment or offering services outside SIECORP, whether paid or
unpaid, is strictly prohibited without prior written consent from the Company.

5. Reassignment and Transfers

• If reassigned to a different position or location, the terms relevant to the new role will apply.
Changes to compensation or other entitlements will require mutual agreement.

6. Duties and Business Travel

• You are expected to perform all assigned responsibilities professionally and efficiently.
• Domestic or international travel may be required, with expenses reimbursed per Company
policy.

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
 7. Performance Standards
• High performance standards are expected throughout your employment. In cases of
underperformance, a Performance Improvement Plan (PIP) may be initiated. Failure to
improve may result in termination.

8. Return of Company Property

• All Company assets must be returned by your last working day. Failure to do so may result in
legal action or financial recovery for damages.

9. Work Location and Reporting

• You may be required to report to various sites, including offices, client premises, or
temporary locations. Non-compliance will be considered a breach of this agreement.

10. Conflict of Interest

• You must disclose any existing or future business interests that may conflict with SIECORP's
operations to avoid conflicts of interest.

11. Maternity Benefits

• Female employees are entitled to maternity benefits under the Maternity Benefit Act, 1961,
and its amendments.

1. Work Schedule
• SIECORP operates 24/7 with a standard workweek of up to 40 hours. Employees are entitled
to two days off per week unless business needs dictate otherwise.

1. Retirement
• Employment will conclude upon reaching 62 years of age unless extended at the Company’s
discretion. Early retirement may occur if deemed medically unfit for the role.

At SIECORP, we expect you to uphold and respect all intellectual property rights associated with your
current employer. It is imperative that you do not bring any classified materials—including but not limited
to manuals, documents, papers, memos, or files—into our organization. Your recruitment to SIECORP is
based on the exceptional experience, skills, knowledge, and attitude you demonstrated during the selection
process. We trust that you will honour these principles and ensure that all confidential information remains
secure. SIECORP reserves the exclusive right to modify or amend any and all terms and conditions of
employment at its sole discretion.

We kindly request that you review, sign, and return the physical copy of this appointment letter. Please send
your signed copy to us by responding to [email protected] within two business days. This action
will serve as formal confirmation of your intent to commence employment with us on the specified start
date. We appreciate your prompt attention to this matter and look forward to your positive confirmation.

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
Sincerely, Singapore Infrastructure and Energy Corporation

Benjamin Harris
Head Recruiter Asia & Project Coordinator (Central and State Gov. of India)

By affixing my signature below, I hereby accept the terms of this employment offer.

Name:
Date:

_____________________
Signature

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
 Annexure A

Compensation and Salary

➢ Total Compensation: Your earning potential will be 10.76 LPA (A detailed breakup of the CTC will be
provided in your Offer Letter).
➢ CTC Components: Your CTC includes the following components:

• Basic Pay
• House Rent Allowance (HRA)
• Conveyance Allowance
• Leave Travel Allowance (LTA)
• Medical Reimbursement
• Food Allowance
• Personal Allowance
• And other applicable components as per Company policy.

Deduction- PF

In hand monthly- 89,666 INR

The proposed salary amount is presented as a lump sum figure. Upon your acknowledgment and acceptance of this
proposal, we will finalize the salary details and forward them to the Human Resources Department (HRD) to calculate
your Cost to Company (CTC).

Please note that during the calculation process, necessary deductions and adjustments may result in the actual salary
differing slightly from the proposed lump sum outlined in the CTC documents. These minor discrepancies, whether an
increase or decrease, are a normal part of the final CTC computation.

We appreciate your understanding and assure you of our commitment to maintaining transparency throughout this
process.

Bonus - As part of your compensation package, Singapore Construction will provide the following bonuses, where
applicable.

▪ Annual Bonus
▪ Bond Signing Bonus
▪ Retention Bonus
▪ Project Bonus
▪ Attendance Bonus
▪ Referral Bonus

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
Health Insurance Coverage

• Under SIECORP’s Health Insurance Scheme (HIS), you and your registered dependents are eligible
for comprehensive health insurance with a family floater coverage of up to INR 35,00,000/-. This
plan covers hospitalization expenses, offering enhanced protection beyond individual insurance.
• This benefit is designed to ensure you and your loved ones have access to necessary medical care,
contributing to your overall well-being and peace of mind.

Recruitment Expense Reimbursement

• As per Company policy, expenses incurred during the recruitment process, including travel,
accommodation, and other associated costs, are eligible for reimbursement. This ensures a seamless
experience for candidates and reflects our commitment to supporting you during this process.

Performance-Based Compensation

• Performance Pay Structure: After successfully completing your training and orientation period,
your compensation will include performance-based pay, assessed through monthly and quarterly
evaluations. These components are excluded from the initial Cost to Company (CTC) proposal but
will be reflected in the final documentation:
o Monthly Performance Pay: Equivalent to 10% of the proposed CTC, this is variable and
based on your individual performance. It will be distributed monthly and incorporated into
the final CTC.
o Quarterly Variable Allowance: Equivalent to 10% of the proposed CTC, this allowance is
performance-based and distributed quarterly. It will also be included in the final CTC.
• These performance incentives ensure a transparent and motivating compensation structure.

These performance-based elements are designed to reward exceptional performance and align your
incentives with the company's goals. We look forward to discussing these components further as you
progress in your role.

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
 • Allowances /perks - As an employee of SIECORP you will be eligible for below mentioned perks-
o Free Transportation
o Life Insurance
o Free Food
o Soft Skills Training
o Cafeteria Lounge
o Gym Access
o Corporate Club Access

Sincerely,

Singapore Infrastructure and Energy Corporation

By affixing my signature below, I hereby accept the terms of this employment offer.

Name:
Date:

___________________

Signature

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
Checklist of documents:

Attached, you will find a comprehensive list of professional certifications that are required for your role at
SIECORP. This list includes both mandatory certifications that are essential for fulfilling your job
responsibilities, as well as optional certifications that may enhance your qualifications and contribute to your
professional development.

We encourage you to review the enclosed document carefully and ensure that you meet the necessary
certification requirements. Should you have any questions or require further clarification regarding these
certifications, please do not hesitate to reach out to us.

1. Certified in Financial Management Certification – Compulsory

2. Certified Construction Industry Financial Professional (CCIFP) – Compulsory
3. Certified Management Accountant (CMA) – Compulsory
4. International Accredited Business Accountant (IABA) – Non-Compulsory

The acquisition of the mandatory professional certifications is a prerequisite for the issuance of your
employment letter from SIECORP. These certifications are essential for meeting the core requirements of
your role. In addition, obtaining the optional professional certifications can significantly enhance your
opportunities to secure projects or assignments with our prestigious global clients. Furthermore, these
additional certifications have the potential to positively impact your performance pay levels.

Please note, that it is crucial to submit the digital copies of the required professional certifications within
two business days from the date of this correspondence. Timely submission is necessary to facilitate the
processing of your employment documentation.

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.
Enclosed with this communication, you will find a comprehensive list of personal documents that are
required. This includes both educational and employment-related paperwork that must be submitted
alongside the necessary professional certifications. We appreciate your prompt attention to this matter and
look forward to completing your onboarding process.

• Certificates of the highest education

• Documents attesting current employment (offer letter, appointment letter, salary slip).
• Records of previous employment (offer letters, appointment letters, salary slips, and experience
letters).
• Optional: Country Citizenship Validation (Voter ID Card)
• Optional: Address validation (Aadhar Card).
• Optional: Income Tax Validation (PAN Card)
• Optional: Valid Passport
• A passport-sized photograph.
• Optional: Bank Account Information (Bank Statement, Passbook, or Cheque)
• Provident Fund account details (if any)

Optional documents may be presented either immediately or during the in-person onboarding session.

NOTE – You are required to submit digital copies of the aforementioned documents within two
business days of receiving this communication

Call us at: +91 (796)-9372-971

Write us at: [email protected]
Corporate: 525, Fifth Floor, Shapath V. Prahlad Nagar, S.G. Highway Ahmedabad, Gujarat, India 380015
This document contains confidential and private information, do not share.