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Employee Referral Policy

The objective of the policy is to motivate employees to refer their friends or


persons known to them for employment in Virinchi, thus getting the
prospective candidates for various openings with Virinchi.
Scope: This policy is applicable for all employees across the organization
except the employees from the Human Resources Department.
The Policy:
1. This policy is known as The Employee Referral Policy
2. All employees of the company can refer their friends or the persons
known to them for an employment in Virinchi.
3. The employee who will be referring their friends or persons known to
them will be known as Referrer.
4. HR department will conduct the interview / interviews as per the
existing Recruitment Policy
5. If the candidate refereed by the referrer is selected for an employment
in Virinchi, upon completion of 1st month pay cycle by the referred
candidate / employee, the referrer will get 50% of the referral incentive
and the remaining 50% will be realised after completion of 6 months
pay cycle of service with the company. The referrer will be eligible to
get Referral Incentive as per the below grid.

S.NO

Career Level

Referral
Incentive

1.

Level I & II

INR. 10,000/-

2.

LEVEL III & ABOVE

INR 20,000/-

Example: If an employee A refers his friend B for the any position, & if B is
gets selected for this position, employee A who has referred his friend B will
be getting a referral incentive of INR 10,000. This amount will be paid to
employee A, however 50% of the referral incentive will be paid after
completion of 1st month pay cycle and the remaining 50% after B completes
06 months of service with the company.
Mode of Payment of Referral Incentive
1. HR department will have a record of the candidates / employees being
referred by the employees which will be recorded in the Interview
Assessment Sheet at the time of interview.
2. The details of the referred employee will further be recorded in the
monthly recruitment tracker.
3. Once the referred employee / candidate completes the above
stipulated duration with the company, the HR department will put a
note to the accounts department for the payment of Referral Incentive
to the employee ( referrer ) who has referred the candidate / employee.
4. HR Department will forward the note for the payment along with the
supporting documents like the Interview Assessment Sheet capturing
the date of interview, reference details duly signed by the Head
Human Resources.
5. The payment of the Referral Incentive will be made to the employee
through a Cheque or Salary Component (subject to statutory
deductions)

6. All expenses towards this policy will be treated as a part of the


recruitment Cost & will be booked under the Recruitment Expense
Head.
7. In case of dispute the decision of the Head Human Resources would
be final and binding.

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