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Merciglobal Systems Pvt. Ltd. – Employee Exit Policy

Effective Date: 29th June, 2024

1. Purpose

The Employee Exit Policy establishes clear guidelines for the resignation, retirement, or termination of employment. It ensures a smooth transition for the employee and the organization, compliance with legal requirements, protection of company assets, and preservation of goodwill.

2. Scope

This policy applies to all permanent, contractual, and probationary employees of Merciglobal Systems Pvt. Ltd.

3. Types of Exits

  • Voluntary Resignation – Initiated by the employee.
  • Retirement – As per statutory age or voluntary early retirement.
  • Termination of Employer – Due to performance issues, disciplinary reasons, redundancy, or business needs.
  • Mutual Separation – Based on a mutually agreed settlement.

4. Notice Period

  • Employees are required to serve a 60-day notice period unless otherwise specified in the appointment letter.
  • The notice period may be waived or adjusted at the discretion of management, with written approval.

5. Exit Process

  1. Resignation/Termination Letter – Must be submitted in writing to the reporting manager and HR.
  2. Acknowledgment – HR will formally acknowledge the request and initiate the exit process.
  3. Handover of Duties – Employee must complete proper handover of projects, documents, and responsibilities.
  4. Clearance Process – Employee must obtain clearance from all relevant departments (IT, Finance, Admin, Projects, etc.).
  5. Exit Interview – Conducted by HR to gather feedback and insights for organizational improvement.
  6. Final Settlement – Includes payment of pending salary, gratuity, leave encashment, bonuses (if any), after deduction of liabilities (loans, advances, notice pay, etc.), within 90 days of exit of employee.
  7. Relieving & Experience Letter – Provided within [15] working days post-final settlement.

6. Return of Company Property

Employees must return:
- ID cards, laptops, mobile devices, and access cards.
- Documents, files, and confidential materials.
- Any other company-owned assets.

Failure to return items may lead to deductions from the final settlement.

7. Confidentiality & Non-Compete Obligations

  • Employees remain bound by confidentiality agreements signed during employment.
  • Any misuse of proprietary information will invite legal action.

8. Retirement Benefits

Employees retiring from service will be eligible for statutory benefits such as gratuity, provident fund, and other retirement benefits in line with applicable laws and company policy.

9. References & Rehiring

  • The company may provide employment references upon request, subject to employee’s performance and conduct.
  • Rehiring of former employees will be based on organizational needs and prior service record.

10. Policy Review

This policy will be reviewed annually by the HR Department to ensure compliance with legal standards and evolving business needs.