No.

PP- 20/2000 Revision 1 WELFARE SCHEMES

22.11.2001

The welfare scheme details all schemes presently in vogue at various locations. The welfare scheme applicable would differ from location to location. Any welfare scheme detailed below not presently onvoguein a location will be implemented only on special written sanction from Mumbai Corporate Office. A. FOR STAFF 1 PERSONAL ACCIDENT INSURANCE SCHEME : Each employee who is not covered under ESIC, would be covered under Personal Accident Insurance Scheme from succeeding month of joining, from any Insurance coverage provider. Amount of Insurance cover would be as under : Grades A Staff Gr I to III B Jr/Sr officer C Executive/Upto Managers D AGM & above Insurance Cover (Rs.) 100000/150000/200000/300000/-

Employees at city offices would be covered under Table - I & those at Factory under Table -II of the Insurance Coverage provider. 2 HEALTH INSURANCE SCHEME(MEDICLAIM): At present Employees who are not covered under ESIC are covered under Health Insurance Scheme under policy from New India Assurance Company Ltd. Due to steep increase in the premium rate it is no longer economical to maintain the existing policy. Hence, we have discontinued the existing policy w.e.f. 22.11.2001 and we have taken new Mediclaim policy from New India Assurance Company Ltd for all the employees and their family members who are covered under the present policy. An employee is covered under Health Insurance Scheme(Mediclaim) from succeeding month of joining. Benefits under the policy availabe one month after date of coverage. Benefits varies depending on the grade of the employee as per the details given below : Grades A Staff Gr I to III B Jr/Sr officer C Executives/uptoManagers D AGM & Above Benefit Grade IV III II I Amount of Cover(Rs.) 1,00,000 1,50,000 1,50,000 2,00,000

The details of the Scheme is as applicable from time to time. The present Scheme is enclosed. For the purpose of keeping the premium independet of claims, the mediclaim policy is taken in the name of individual employees. Medical benefits relating to Hospitalisation only is available under the mediclaim policy. 3. UNIFORMS : All staff at factory would be provided 2 Aprons every year during 1st Qtr of the Financial year. Drivers & Security will be provided 2 pairs of terry - cot uniform & 1 pair of shoes every year during the 1st Quarter of the Financial year.Umbrella is provided to Drivers & Security once in two years. Security will be provided with Rain Coat & Gum- Boot once in two years.

No. PP- 20/2000 -2-

01.08.2000

B. FOR WORKMEN 1. Workmen Compensation Plan : All the workmen will be covered under workmen compensation plan. The details of the Scheme would be as applicable from time to time.The present Scheme is enclosed. 2 Health Insurance Scheme : This Scheme would be applicable only for Workmen not covered under ESIC. Up to gross salary of Rs 3500/-p.m., Workmen will be paid Medical Allowance @ 4% of Basic+DA+ HRA. Workmen drawing gross salary (i.e. Basic+DA+HRA) above Rs 3500/-p.m. will be covered under Health Insurance scheme under Benefit Grade - IV . Changes would be effective from the begining of the financial year i.e. April of every year. 3. UNIFORMS: Every Workmen will be provided 2 pairs of cotton uniforms & 1 pair of industrial safety shoe once every year during the 1st Qtr of the Financial year.

No. PP- 20/2000 -3C. GENERAL 1. Dassera pooja:

01.08.2000

Dassera Pooja will be conducted on Dassera Day, during the 2nd half of the day every year. All employees would clean their work place/machines and conduct pooja at Plant site. Sathyanarayana Pooja would be conducted at the respective Plant site. Company would contribute equivalent amount of contribution by staff/workmen at the location.This would be the ceiling limit for expenses. During the Pooja day award for long service with the Company will be distributed as follows : on completion of 15 years of service on completion of 20 years of service : : 50 grms of silver coin with Company monogram. 4 grms of gold coin with Company monogram. TITAN Wrist Watch (upto a value of Rs. 5,000)

on completion of 25 years of service :

Best attendance award would be given to employees having maximum number of working days in a year. Top 3 employees would be given suitable gift as approved by location head. 2 Distribution of sweets: once a year 1/2 kg of sweets would be distributed to employees at the companys expenses. The location head could decide either to give it during Dasserra day or during Diwali. This practice may differ from Location to Location. 3 Picnic : All workmen & staff would go on a daylong picnic during December/January once a year. The picnic location would be about 100 kms from the location. Transport arrangement would be paid for by the Company. 25% of the other expenses will be contributed by the employee & balance will be borne by the Company. Pooja on the Inauguration Day : At each location Sathyanarayana Pooja would be conducted at site . Expenses would be met by the company. Half day would be devoted to Pooja. In case the day falls on a holiday snacks consisting of 1 sweet, 1 namkeen, chips, samosa or equivalent with Tea, Coffee/cold drink would also be provided . However no wages would be payable on off day.

R R Shenoy Director Corporate Affairs Applicable to : FFL/FSL : Mumbai, Bangalore, Khopoli SL : Mumbai, Bangalore, Asangaon Sansha : Bangalore. FBL : Pune