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Exit Policy

Applicable to all team members and to team members offered a role on or before 01st January 2023.

 

This policy supersedes all previous verbal or non-verbal communication and/or terms set in offer letters. This is meant to act as a guide to navigate through certain important details during your time with the company. This also outlines the procedures you will need to follow and the formalities you will need to fulfill during the time you hand in your resignation.

 

To ensure transparency, this policy will also give you a brief idea of what will be enclosed in your exit letter and what will be expected of you before you sign off. The obligations imposed and the conditions applicable might vary depending on your employment level in the Company, but unless specified, most clauses apply to everyone. 

WHEN DOES MY EXIT PERIOD START? 

The day your written resignation is accepted by your line manager, shall be treated as the first day of your exit period. In case an acknowledgment is not received of the decision in 7 calendar days, the 7th day of sharing the written resignation will be treated as the first day of your exit period.  The period thereon till the day you sign off will be considered your notice period, which, has been outlined in detail on this page. 


WHAT'S IN MY EXIT LETTER? 

As your notice period commences, there are certain obligations that you will be required to fulfill. While a comprehensive list of the obligations will be a part of your Exit Letter, these would be binding in nature. Your exit letter will also list your benefits provided by the Company, the professional obligations you will be expected to adhere to protect the interests of the Company, confidentiality & non-compete clauses, and how your leaves and final settlements shall be calculated. 

DISCHARGE OF EMPLOYMENT

Before we get into what obligations you need to fulfill, it is important to understand how your employment might be discharged. Normally, there are 3 ways in which your employment might be discharged. 
 

Resignation 

 

When you decide that you voluntarily want to conclude your employment with us, then your discharge of employment will fall into this category. The Company in this case will have no role in seeking your resignation and it shall be your own decision to stop working with us. 

Reignite Plan 

When a Team member's performance fails to meet expected/ desired standards of work, they might undergo a Performance Improvement Plan to reignite their performance and meet the expected benchmarks. 

There are 3 possible outcomes once you complete your Reignite Plan:

  • Everything goes back to as it was before the implementation of reignite and this improvement is expected to be sustained for a period of at least 12 months;

  • If the outcome of the reignite plan is undesirable, the terms of your employment will be reassessed by the Company which may include demotions/ salary corrections or

  • Due to the reasons specified, your employment shall cease to continue. You can read more about 'Reignite' on the Perks & Policies Page on this site. 

Immediate Termination

 

We hope that we never have to retort to this form of termination of employment. This form of termination shall be invoked when any of, but not limited to, the zero tolerance policies are violated; any violations of POSH, PADB, Confidentiality Code, or any acts leading to Plagiarism, Piracy, Mis-selling, Moonlighting, Gifting, and Kickbacks shall lead to immediate termination of employment with no pay. 

NOTICE PERIODS, LEAVES DURING EXIT & FINAL SETTLEMENTS

Notice periods, leaves, and final settlements are vital aspects of your employment terms, hence clarity on these factors is necessary. 


Notice Period 
 

Your notice period as defined above is the time from when you hand in your written resignation is accepted till the day you finally sign off from the Company i.e. your last working day. This period is important for us to finalize any formalities and crystallize any and all pending settlements. We do like people to stay and so, during your notice period too, we may offer you a chance to reconsider your options. However, if we have to part ways, depending on your level in the Company, the below-mentioned notice periods will apply.

 
Below Level 4 > 30 calendar days.

At Level 4 or above > 45 calendar days.


If the employment is terminated by the Company for violation of zero tolerance policies or for good reason, the notice period will be 24 hours. 


During probation, if initiated by the company, the Notice Period will be a minimum of 7 calendar days or a maximum of what is agreed between you and the Company. However, the same will not exceed 15 calendar days. If however, you choose to leave during your probation period, your notice period can range between 7 to 30 calendar days, as would be agreed upon with your Line Manager and Human Resources.

 

These notice periods shall be mandatory unless a contrary arrangement is decided between you 'the team member' and the Company. There are certain other obligations you will be expected to complete during the notice period; this will be specified in your exit letter and may vary depending on your terms of employment.

Leaves 
 

The existing company leave policy is in effect and once the notice period commences, any unclaimed paid leaves shall stop being accrued on a pro-rata basis. Any and all leaves during your notice period shall be considered as leave without pay. The accumulated paid leaves which are not consumed by a team member before the date of communicating the resignation can be encashed (on a pro-rata basis only) as part of your full and final settlement.

Final Settlement

 

The full and final settlement will be paid to you in the next salary cycle or within 30 days after your last working day, whichever comes earlier. A full account of all the company assets and data in your possession will be taken into consideration post your handover before calculating the full and final settlement amount. This will be communicated to you in writing.

Rejoining

We'd be thrilled if you'd like to reapply or take on a freelance gig with us after your exit from the company. However to ensure confidentiality and smooth functioning across teams, a six month cooling period would apply. i.e. rejoining or taking on gigs can happen after 6 months of your exit from the company. After six months, the doors are open again. 

The Management reserves the right to add, alter, amend, modify, cancel, and replace all or any other provisions of this Policy.

In case of any queries/ questions or clarifications, please write back to manali@willnevergrowup.com or asif@willnevergrowup.com

or aashutosh@itsyellowseed.com 

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