May 3, 2023

A JYOTHI KIRAN REDDY

Dear Jyothi,

Sub: Offer letter for the position of Software Engineer

Kindly refer to your application for employment at One97 and our subsequent discussions.
We would be happy to offer you the position of Software Engineer in Grade- MG01A in our
company on the following terms and conditions:

1. A detailed brief on KRAs and scope of work will be given to you on joining.
Your total Gross CTC is Rs. 1500000/- per annum.
2. You will be entitled for onetime Retention Bonus of Rs. 100000 to be paid after 1st
Year. This amount will be recoverable if you leave the employment before 18
months of taking up the appointment.
3. You will also be eligible for proposed 233 Employee Stock Options with a vesting
period of 5 years, subject to approval from the Nomination and Remuneration
Committee (‘NRC’)/Board and shall be governed by the ESOP policy. All your
vested ESOPs will have a discounted exercise price of Rs. 9/- each. ESOP vesting
schedule is as follows:
a. a. 1st Year – 10% of Total ESOPs
b. b. 2nd Year –20% of Total ESOPs
c. c. 3rd Year – 20% of Total ESOPs
d. d. 4th Year – 25% of Total ESOPs
e. e. 5th Year – 25% of Total ESOPs

ESOP vesting is also linked with the ESOP performance rating process for every
vesting period. This process/exercise is independent of standard performance
appraisal bell curve rating. It must be an exception to get less than 100% vesting as
the element of performance is just to ensure that the employee is not a bottom
performer for the year, asked to leave or a code of conduct violation case.

4. This is the total cost to company and all necessary taxes will be deducted at source
as per statutory requirements. If you are covered under the Provident Fund Scheme,
then the employer contribution to the provident fund shall be met out of the above
said salary.
5. You will be governed by the company’s Personnel Policy, Rules of Conduct, Non-
Disclosure Agreement and all other company policies as applicable to you from time
to time.
6. You are expected to state your correct designation and official titles as mentioned in
our internal HRMS (Elevate 2.0) in the format of <Designation as per Elevate>,
<SBU, optional>, <BU, optional> while updating any public domain platform
including social networking websites or apps or any other medium (e.g. LinkedIn,
Facebook, Twitter, etc.) / media.
7. You will be expected to join duty on June 22, 2023, the Business hours begins from
9.30 A.M. onwards.
8. This offer is subject to your background check which company may do pre or post
employment and in case of any discrepancy company may take any necessary
disciplinary action which may lead to termination.
9. You shall be on probation for a period of six (6) months.
10. A detailed appointment letter will be issued to you on your joining.
11. Please confirm your acceptance by email to this email address within the next two
working days, failing which this offer will automatically stand withdrawn.
12. Within three days of accepting our offer please send us the copy of your resignation
letter accepted by your current organization.
 13. You agree that any expenses incurred by the company on your hiring such as
relocation, joining bonus, retention bonus, any notice pay buyout etc. would be
recoverable in the event of your separation from the services of the organization on
or before 18 months from your date of joining

14. You are requested to carry the following documents in original at the time of joining
for verification and a copy of the same for submission.
a. High School and Senior Secondary Certificates and Mark sheets
b. Graduation – Degree or mark sheets
c. Post-Graduation – Degree or mark sheets
d. Appointment letter, experience certificate and salary slip from last employer.
e. Relieving certificate from last employer.
f. Certifications if any
g. PAN Card
h. DL/ Passport/ Aadhar Card
i. Bank Account Proof (Original Canceled Cheque)
j. Passport Size Photographs

Your appointment at One97 will be subject to ratification of the above.

**You are mapped to the Noida office but will be required to work from home until further
notice. Once office resumes, HR will get in touch with you to confirm your Joining Location

Best regards,
Ashish Banga
Human Resources
One97 Communications Limited.
One Skymark, Floor No. 6th to 22nd,
Tower-D, Plot No. H-10B, Sector-98,
Noida
www.paytm.com
 Annexure

5/3/2023

Employee Name: A JYOTHI KIRAN REDDY

CTC Structure
Salary Components Monthly(Rs) Yearly(Rs)
Basic 62500 750000
House Rent Allowance 22917 375000
Special Allowance/Flexi Benefits Bucket* 28550 342600
EPF Contribution Employer 1800 21600
Mobile Allowance 900 10800
Performance Linked Incentive (PLI)#
Total Salary (CTC) 125000 1500000

Others
Gratuity 3006 36075

Note
Mediclaim Insurance: All employees & their immediate family members as per declaration (self, spouse, children) are
covered under mediclaim insurance as per the policy. The Medicalim insurance coverage is up to 5 lakhs per annum for
the employee & his/her declared family

Flexi Benefits Options*

*please confirm flexi benefits options to be availed on your joining day itself
#If applicable then payable Annually