Employee Exit and Offboarding Policy

1. Purpose:

The purpose of this policy is to establish a structured process for employees leaving the organization, ensuring a smooth transition, compliance with company regulations, and preservation of organizational knowledge.

2. Scope:

This policy applies to all employees of Sunbeam Elastomers Pvt. Ltd., including permanent, probationary, and contractual staff, regardless of the reason for exit (resignation, termination, retirement, or end of contract).

3. Objectives:

a. To ensure a professional and respectful offboarding experience for departing employees.
b. To safeguard company assets and proprietary information during the exit process.
c. To gather constructive feedback to improve employee retention and workplace culture.

4. Policy Guidelines:

1. Resignation:
a. Employees must submit their resignation in writing, specifying the reason and last working day.
b. The notice period will be as per the terms in the employee’s appointment letter.
c. Resignation approvals must be communicated to the HR Department promptly.

2. Termination:
a. Termination due to performance, misconduct, or redundancy must follow due process, including documentation and review by HR.
b. Employees terminated for misconduct may not be eligible for certain benefits.

Exit Process

1. Notice Period:
a. Departing employees must serve the notice period unless waived by management.
b. Any shortfall in the notice period may be adjusted against the final settlement.

2. Handover:
a. Employees must complete a detailed handover of responsibilities to designated team members.
b. Pending projects, client communications, and documentation must be transferred before the last working day.

3. Asset Return:
a. Company assets (e.g., laptops, ID cards, keys, documents) must be returned on or before the last working day.
b. The IT Department will verify returned equipment and revoke access to company systems.

4. Final Settlement:
a. HR will process the employee’s final settlement, including pending salary, leave encashment, provident fund contributions, and other dues.
b. Settlements will be completed within 30 days of the employee’s exit date.

5. Exit Interview:
a. HR will conduct an exit interview to gather feedback on the employee’s experience.
b. Feedback will remain confidential and will be used to improve workplace policies and practices.

5. Roles and Responsibilities:

Employee:
a. Serve the notice period as specified in the appointment letter.
b. Complete the handover process and return company assets.

Manager/Supervisor:
a. Approve resignation or termination and inform HR promptly.
b. Ensure a smooth transition by assigning handover responsibilities.

HR Department:
a. Facilitate the exit process, including documentation, asset verification, and final settlement.
b. Conduct exit interviews and maintain records of feedback.

IT Department:
a. Revoke access to company systems and networks on the employee’s last working day.
b. Verify the return of IT assets and update asset inventory records.

6. Key Provisions:

Confidentiality:
a. Departing employees must comply with confidentiality agreements and refrain from sharing proprietary information.

Rehire Eligibility:
a. Employees leaving on good terms may be considered for rehire in the future, subject to organizational needs.

Non-Compliance:
a. Failure to complete the offboarding process may result in delays in final settlements or legal action.

7. Monitoring and Reporting:

HR Department:
a. The HR Department will maintain a database of exit interviews and analyze trends to improve retention strategies.
b. Exit trends will be reported quarterly to the management for review.

8. Review and Amendments:

a. This policy will be reviewed annually or as required based on feedback and changes in labor laws.
b. Amendments will be approved by the Board of Directors.

Approval:

This Employee Exit and Offboarding Policy has been approved by the Board of Directors of Sunbeam Elastomers Pvt. Ltd. on 1st January 2025.

This policy ensures a seamless, respectful, and efficient exit process for employees at Sunbeam Elastomers Pvt. Ltd.