Employee Provident Fund (EPF)

  • Employees contribute 12% of their Basic Salary + AGP + Dearness Allowance (DA), subject to a ceiling of Rs: 15,000 per month.
  • Employers also contribute 12% of the Basic Salary + AGP + DA, with the same ceiling of Rs: 15,000 per month.

Pension Scheme

  • Pensionary benefits are granted as per the conditions set by the Employee Provident Fund (EPF).
  • Pension Calculation Formula: Maximum Pensionable Salary= (Rs:15,000 x Years of Completed Service) / 70\text (Maximum Pensionable Salary) = \left (Rs:15,000 \times \text (Years of Completed Service) \right) \div 70Maximum Pensionable Salary= (Rs:15,000 x Years of Completed Service) / 70

Gratuity

  • Eligibility: An employee is entitled to receive gratuity if they have completed a minimum of five years of continuous service with the employer.
  • Calculation Formula: Gratuity Amount=(Last Drawn Salary (Basic + AGP + DA)*Years of Completed Service*15)/ 26\text(Gratuity Amount) = \left(\text(Last Drawn Salary (Basic + AGP + DA)) \times \text(Years of Completed Service) \times 15\right) \div 26Gratuity Amount=(Last Drawn Salary (Basic + AGP + DA)*Years of Completed Service*15)/ 26

Employee Deposit Linked Insurance (EDLI)

  • The employer contributes 0.5% of the Employee Provident Fund (EPF) towards EDLI.
  • This insurance provides a risk coverage of up to Rs:7,00,000 in case of the employee's demise during service.

Safety Insurance for Staff and Students

  • Accident Claim Benefit: Rs:20,000
  • Accident Risk Coverage: Rs:1,00,000

Group Life Insurance Scheme

  • Employees can opt for different premium plans with the following contributions:
    Rs:30 per month - Accident Risk Coverage of Rs:30,000
    Rs:75 per month - Accident Risk Coverage of Rs:75,000
    Rs:100 per month - Accident Risk Coverage of Rs:1,00,000

IOB Suraksha Insurance Scheme

  • This scheme is fully funded by the employer, with an annual premium of Rs:236 per employee.
  • Provides Accident Risk Coverage of Rs:10,00,000.

Leave

S.No Leave Conditions
1 Causal Leave Yearly 12 Days
2 Medical Leave Approved probationers: An individual is eligible to avail 10 days of medical leave for every completed year of service.
3 Earned Leave Approved probationers: One-day for every 22 days of duty. At a stretch, 15 days eligible. Accumulation upto 60 days.
4 Maternity Leave Approved probationers: Six months leave for the first two children. Three months leave with pay and next three months leave on without pay.
5 Vacation One year of service: Teaching Staff Summer Vacation: 20 days Winter Vacation: 10 days Non-teaching Summer Vacation: 10 days Winter Vacation: 5 days

Additional Employee Benefits and Welfare Schemes

Employee's Ward Scholarship

Employees' children are eligible for a 100% tuition fee concession.

Incentives for Research Publications

Employees receive monetary incentives or recognition for publishing research papers in reputed journals.

On-Duty Leave for Professional Development

Employees can avail on-duty leave for pursuing higher studies or attending Faculty Development Programmes (FDPs).

Employment for Family Members of Deceased Employees

In the unfortunate event of an employee's demise, their family member may be considered for employment based on eligibility and organizational policies.

Registration Fee Coverage for Professional Development Programmes

The organization covers the registration fees for staff members attending professional development programs.

Revenue Sharing for Consultancy Services

Staff and students involved in consultancy projects are entitled to a share in the generated revenue.

24/7 Hospital Facility

A fully operational hospital is available round-the-clock to provide medical assistance to employees and students.

Staff Quarters

The institution provides accommodation facilities for its staff within or near the campus.

Uniform for Basic Staff

Basic staff members are provided with uniforms as part of their work attire.

Medical Camp

Regular medical camps are organized for the well-being of employees and students.

Festival Bonus

Employees receive a bonus during festive occasions as a token of appreciation.

Staff Welfare Bank

A staff welfare bank is available to support employees financially when needed.

Transportation for Staff

The organization provides transport facilities for employees, ensuring convenient commuting.

Family Tour

Employees are given opportunities to participate in organized family tours as part of welfare and recreational activities.