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3097137

Ashesh Kumar Padhy has been promoted to Executive Vice President - Projects at JSW Steel Limited, effective April 1, 2023, in recognition of his contributions and potential. His compensation has been revised accordingly, with a total CTC increase from INR 1,34,48,244 to INR 1,51,96,515. The letter emphasizes the company's expectations for continued commitment and contributions towards operational excellence and safety.

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Manish kumar Aarya
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7 views2 pages

3097137

Ashesh Kumar Padhy has been promoted to Executive Vice President - Projects at JSW Steel Limited, effective April 1, 2023, in recognition of his contributions and potential. His compensation has been revised accordingly, with a total CTC increase from INR 1,34,48,244 to INR 1,51,96,515. The letter emphasizes the company's expectations for continued commitment and contributions towards operational excellence and safety.

Uploaded by

Manish kumar Aarya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Date 03-08-2023

Ashesh Kumar Padhy


3097137
JSW Steel Limited

Dear Ashesh Kumar Padhy,

In recognition of your continued contributions and more importantly, your potential to complement our journey in achieving business and operational
excellence, I am pleased to promote you as Executive Vice President - Projects in the Grade L18 with e ect from 1st April 2023. This promotion is in alignment
with the Group's Job Banding and clustering methodology to provide enhanced meaningful roles commensurate with changes in grade and job banding.

I am also pleased to inform you that your compensation has been revised as a consequence of your promotion and the details are annexed herewith. There is no
change to any of your other employment terms and conditions.

Please note that your revised compensation is subect to income tax, as applicable. The company reserves the right to change, modify the compensation
structure and other terms of service as may be communicated to you from time to time. You may contact your local HR team for any queries relating to your
compensation structure. I expect you to maintain confidentiality of your compensation.

I wish to place on record our deep appreciation of your contributions and look forward to your continued commitment and contribution to this journey of
excellence. As we continue to bring sustained focus on safety and make it a culture across the group, I look forward to your active contribution in this area. The
company is poised for significant growth in the coming days and to achieve our growth plans, I look forward to an even higher level of contribution from you.

I wish you the very best and a great career with JSW.

Best Wishes

Jayant Acharya
Deputy Managing Director

This is an auto generated letter and does not require signature


Annexure: Details of CTC Break-Up

Employee Code 3097137

Employee Name Ashesh Kumar Padhy

Existing Revised
Salary Head
Yearly Yearly

Basic Salary 41,35,308 45,02,445

House Rent Allowance 2,87,280 3,57,852

Conveyance Allowance 2,79,480 3,98,280

Advance Medical Reimbursement 2,58,000 2,58,000

Leave Travel Allowance (LTA) 2,58,000 2,58,000

Annual Bonus 8,27,052 9,00,489

Meal Vouchers 18,000 18,000

Supplementary Allowance 37,31,340 42,63,494

Provident Fund 4,96,236 5,40,293

Gratuity 1,98,900 2,16,567

Variable Pay 29,58,612 34,83,093

Total CTC 1,34,48,244 1,51,96,515

Existing: As on 31st March 2023


Revised: Effective 1st April 2023
All values in INR
Variable Pay/PIB/Sales Incentive paid as per business plan, as applicable.
Any change in CTC Structure due to Govt. regulation will be on a CTC neutral basis.

This is an auto generated letter and does not require signature

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