Employee Investment Policy

We are pleased to introduce our Employee Investment Policy, designed to foster financial well-being and long-term prosperity among our valued team members. Effective from April 1st, 2024, all employees will receive an incremental addition of Rs. 500/- to their remuneration. Additionally, on designated festive occasions, namely Women’s Day, Holi (commencing from the following year), Ganesh Puja, and Diwali, an extra increment of Rs. 100/- will be granted.

Terms and Conditions:

This policy is applicable to all current employees upon completion of documentation with Mutual Funds.
New employees will become eligible for these benefits from the Women’s Day following their date of joining.
Subsequent yearly increments of Rs. 100/- will be integrated into employees’ remuneration according to the specified festival schedule.

Implementation Guidelines:

The additional amount will be deposited into employees’ salary accounts monthly, alongside their regular pay, and will be invested through Mutual Funds via Electronic Clearing Service (ECS).
All formalities regarding investments will be managed by our designated investment agency. Employees are advised against transferring any funds directly and are encouraged to carefully review all agreements and terms and conditions prior to completion of the process.

Withdrawal and Continuation:

Withdrawal of invested funds is permissible under specific circumstances, subject to approval from the Virajo HR department.
Continuation or withdrawal of investment is at the discretion of the employee upon separation from Virajo.
To maintain eligibility, employees must submit an investment statement between March 1st to 15th annually. Failure to continue with Systematic Investment Plans (SIPs) will result in the permanent discontinuation of associated benefits.
Any discrepancies in the March statement must be rectified promptly, as unpaid EMIs will be deducted from the employee’s salary accordingly.

Policy Overview:

This initiative serves as a well-being gift from Virajo and is subject to the discretion of the Company.
The purpose of this initiative is to instill saving habits, provide financial support for significant life events, and facilitate long-term wealth creation among our workforce.

Employee Categories:

Existing Employees: Rs. 500 (Women’s Day) + Rs. 100 (Ganesh Puja) + Rs. 100 (Diwali) for the first year. Subsequent years will follow a Rs. 100 increment for each designated festival.
New Employees: Benefits will commence with Rs. 500 on Ganesh Puja if joining before the festival, and from Holi if joining thereafter.
This policy reflects our commitment to the holistic well-being and financial stability of our employees.