Fast Track Exit FTE Closure of Companies: Meaning, Conditions, Procedures and FAQs

An employee might be regarded as 0.75 FTE, for instance, if they put in 30 hours per week whereas a full-time worker puts in 40. The measurement is quite important and is mostly done for accounting purposes, salary calculation and ascertaining the cost of the business in paying its employees. Five of them work full-time , three occupy a part-time position each working 20 hours a week, and the other two each work 10 hours per week.

With its strong 50 year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fueled by the fast evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering and platforms. To execute the allocated business job within the contract duration, you will have permission to call your Full-Time Equivalent employee in your time zone. Additionally, the project execution cycle may be altered to meet your interests and organizational needs. The emergence of a strong Shared Services has brought significant focus to the elements of fully loaded costs in staff functions like BFSI Operations, F&A, HR, Procurement etc.,. Companies, while setting up captive shared services , need to treat the SSC as a separate ‘business unit’ (to provide services to internal business units/customers) to establish the FLC of each major process and as more experience is gained, ensure sustained improvements to refine cost estimations. The BPO sector, with their ‘core business of business processes’, has focused to track and monitor FLC, and adopt varied pricing models to differentiate themselves in the market place.

22 Vindication of Acts and Character of an employee

The abortion
leave also has to be granted for 6 weeks by the competent authority to the married female FTE, to those with less then two surviving
children. Iii) Leave of any kind may be granted in continuation of Maternity leave, if the application is supported by a Medical certificate. V)Paternity Leave
Competent authority may grant paternity leave for a period of 15 days on full pay to married male employees
who have less than two surviving children.The paternity leave shall be availed by the male employee during the period of his wife’s
delivery.

Provided that in the case of unavoidable circumstances where availing of prior permission is not possible or is difficult, such permission may be obtained later subject to the satisfaction of the competent authority that such a permission could have been obtained. I) The Executive Council shall determine from time to time the employee strength in each level based on the work load, need and financial position. Employers can determine whether to offer these to their employees when it is reached to a certain number of FTE. To calculate the FTE, divide the figure by the number of hours per week required for a full-time position . There could be a link between the number of full-time employees in a firm or organization and the number of new ideas they generate. More people can contribute their unique thoughts and perspectives to assist solve problems and make key decisions when you have a larger team.

• 4)In case the Charged MSCC doesn’t submit his written representation within 15 days,it may be construed that he/she has no explanation to offer.
• An employee shall so manage his private affairs as to avoid habitual indebtedness or insolvency.
• It shall contain particulars of appointment, changes in categories,emoluments, increments, transfers, leave, disciplinary proceedings, and allied matters for which suitable form will be prescribed by the Executive Council.

Xi) The Disciplinary Authority shall consider the representation, if any, submitted by the Employee and record its findings before proceeding further in the matter. D) written briefs, if any, filed by the Employee and the orders, if any, made by the Disciplinary Authority and the Inquiring Authority in regard to the inquiry. Ii) Whenever the Disciplinary Authority is of the opinion that there are grounds for inquiring into the truth of any imputation of misconduct or misbehavior against an Employee of the SERP, it may itself inquire into or appoint under this condition, as the case may be, an authority to inquire into the truth thereof. 4) removal of an Employee engaged under contract, in accordance with the terms of his/her contract.

D)Suspension, where a person has already been suspended under condition 7.1 to the extent considered necessary. Ii)with effect from the date of his/her conviction, if in the event of a conviction for an offence, he is sentenced to a term of imprisonment exceeding forty-eight hours and is not forthwith removed consequent to such conviction. 2)No female Mandal Samakhya Cluster Coordinator, whether unmarried or windowed or divorced, as the case may be, shall marry any person who has a wife living.. 1)No Mandal Samakhya Cluster Coordinator who has a spouse living shall enter into, or contract another marriage.

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The appointing authority may remove an employee during his/her employment for sufficient and reasonable cause by giving such person a show cause notice and to provide an opportunity to offer his / her explanation. SERP employees are eligible for availing Career Advancement Opportunities available in SERP as per the guide lines issued by the Executive Council from time to time. Where it is prescribed or necessary to fill up a post on deputation from the employees of State or Central Government the rules of State / Central Government governing the terms and conditions of deputation of their own employees shall be adopted and followed by SERP. In addition, the Executive Council may prescribe certain other terms and conditions from time to time depending on the merits of the circumstances. The decision of the Chief Executive Officer / the Executive Council with regard to filling up of any post by deputation is final.

For a business, specifically those with a large number of part-time workers, converting worked hours into FTEs is important in helping the company know how many full-time employees the part-time workers are equal to. Several federal programs in the United States—such as the Paycheck Protection Program —use FTE to determine employer eligibility. Ix) The Disciplinary Authority shall consider the representation, if any, submitted by the Employee and record its findings before proceeding further in the matter. In case the delinquent employee doesn’t submit his written representation within 15 days, the disciplinary authority may take further course of action basing on the material available as stipulated in the terms and conditions.

2)Termination of contract and discharge from employment under this provision does not amount to punishment under terms and conditions for Control and Appeal prescribed under Chapter 7 and it will not attract the procedure laid there under. The power to interpret all these terms and conditions vests in the Executive Council of SERP and it is empowered to issue such instructions as may be necessary to give effect to and carry out the provisions of these terms and conditions of employment of FTE of the SERP. The Chief Executive Officer is the Appellate Authority in respect of the orders issued by the Project Director, DPMU / TPMU in respect of the employees of category 1 to 4 of Class – 2. The Executive Council is the Appellate Authority in respect of the orders issued under these terms and conditions by the Chief Executive Officer in respect of employees of category 1 to 4 of Class -1 working in SPMU.

7 Tenure of Employment

The ZS is the competent
authority to sanction Special Casual leaves mentioned above. It shall contain particulars of appointment, changes affecting levels, emoluments, increments, transfers, leave, disciplinary proceedings, and allied matters for which suitable form will be prescribed by the Executive Council. Every year performance appraisal report shall be prepared and it shall contain remarks on the work performance of the employee. These PARs should be prepared for period from 1st April of a year to 31st March of the succeeding year, after obtaining and assessing the self appraisal reports of the concerned officers and feed back from Community Based Organisations wherever required. For this purpose, the details of the reporting officer, countersigning officer etc shall be as follows. Iv)Maternity Leave
a)Maternity leave will be sanctioned to the married female Mandal
Samakhya Cluster Coordinators with less than two
surviving children for a period of 180 days.

3)In the case of enhancing penalty the employee shall be given reasonable opportunity of making representation against the penalty proposed before order is passed by the Revision Authority. In all other cases ie confirmation, reduction, set aside of the penalty imposed by the Appellate Authority giving opportunity to the employee to make representation is not necessary. D)The examination of the witnesses and documents shall be done in the presence of the delinquent employee. C)The Inquiring Authority shall adjourn the case for enquiry to a date not exceeding 10 days for production and recording the evidence, the oral and documentary evidence by which the Articles of Charges are proposed to be proved. B)If the delinquent employee informs the Enquiring Authority that he wishes to inspect the documents mentioned in the Charge Sheet for the purpose of preparing his defense, accordingly, the Inquiring Authority shall arrange for the inspection of the documents in his/her presence on the date informed earlier.

HR cost per FTE shows the amount spend on human resource activities by a company on each employee. Small companies have higher HR costs per employee than medium or large industries. The reason is that when staff size increases, the cost gets distributed to more employees. In order to convert the equivalency of a full-time employee and break it into standard hours, what’s needful to do is multiplying the rate of the FTE of the aforementioned employee by 40. Cybrain Software Solutions has been recognized by various portals for its quality services and upright project delivery.We take pride in our customers’ satisfaction.

The Enquiring Authority after completion of recording of evidence may permit the delinquent employee to file written brief if he/she so desires. No FTE shall divulge directly or indirectly any official document or any official information or records of confidential nature either to a member of the public or any outside agency or to any other employee who is not authorized to receive the same or to any non-official person or the press. Where it is not practicable to obtain direction in writing, shall obtain written confirmation of the direction as soon thereafter as possible. It shall be incumbent on such official superior to confirm in writing the oral directions given by her/him, and in any event, he/she shall not refuse such written confirmation where a request is made by the FTE to whom such direction was given. However this shall not empower the employee to evade her/his responsibility by seeking instructions from,or approval of, an official superior where such instructions are not necessary under the scheme of distribution of powers and responsibilities.

This is how a company calculates, on average, the average annual hours a full-time employee works. Cybrain assists a wide range of sectors, including e-commerce, healthcare, banking, hospitality, insurance, manufacturing, real estate and other small and large organizations. Our services will help you stay motivated as you expand your company and achieve more success. You can fully manage your resources since we’ll keep you up to current on job status, daily output and process changes without causing any delays. Throughout business hours, the staff will also communicate with you through phone, email and instant messaging. Enter your term in the search box of the website or check out 50+ related full forms given in order to find the term of your choice.

In the Charge sheet the Charge, basis of the charge, the documents and the list of witnesses by whom articles of charges are proposed to be sustained shall be clearly mentioned. 3)Rendering contract of employment void and treating the Mandal Samakhya Cluster Coordinator ceases to be Mandal Samakhya Cluster Coordinator of Zilla Samakhya for continuous absconding for 45days. In addition to the casual leave, Mandal Samakhya Cluster Coordinators can avail 18 days of annual leave in a calendar year, which are lapsable at the end of each calendar year. The Mandal Samakhya is the competent authority to sanction Annual leaves to the Mandal Samakhya Cluster Coordinators under their control.

Iii)the order of suspension ceases to be operative as soon as the criminal proceedings, on the basis of which the Mandal Samakhya Cluster Coordinator was arrested and released on bail, are terminated. Every Mandal Samakhya Cluster Coordinator shall treat his fellow employees, members and staff of Community Based Organisations (Zilla Samakhya, Mandal Samakhya, Village Organisation courteously and respectfully. Absence or over stay without leave whether in continuation of sanctioned leave or otherwise will constitute misconduct for purpose of these conditions.

Honorary work of social or charitable nature, artistic or scientific character can be taken up provided it does not interfere with his/her official duties. Canvassing by employee in support of the business of Insurance agency, Commission agency and the like owned or managed by spouse, or any other member of his/her family shall be deemed to breach of this condition. An employee belonging to FTE shall before going on leave, intimate,in writing on the leave application itself his address while on leave and shall keep the competent authority/ SERP informed of any subsequent change in the address.

2)Any Mandal Samakhya Cluster Coordinator may prefer an appeal to the Executive council of ZS with in 30 days on the order imposing any of the penalties specified under condition 7.2 by the committee of the Office Bearers of Zilla Samakhya. 4)At this point, the delinquent Mandal Samakhya Cluster Coordinator may produce his evidences which may be in the form of witnesses or documents. The Inquiring Authority may examine or cross-examine or reexamine the witnesses and documentary evidences produced by the delinquent Mandal Samakhya Cluster Coordinator.

V) If any question arises as to whether any movement or activity falls within the scope of this condition, the decision of the Executive Council thereon shall be final. C) Evidence given at any departmental inquiry ordered by the Chief Executive Officer or any authority subordinate to him. An employee shall so manage his private affairs as to avoid habitual indebtedness or insolvency. D) No employee shall conceal, steal or damage the books of accounts and documents of Community Based Organisations directly or indirectly. A) No employee of the SERP shall use the Community Based Organisations movable or immovable properties and funds for her/his personal use either directly or indirectly. No employee shall behave in a manner which is unbecoming of such employee or derogatory to the prestige of the SERP or which will place her/his official position under any kind of embarrassment.

If an fte meaning on leave desires an extension there of, he shall make an application in writing so as to reach the office at least seven days before the expiry of the leave. A written reply communicating the sanction or rejection of leave shall be sent to the employee to the address given by him. An employee who desires to avail himself of EOL shall apply in writing not less than 15 days before the date from which the leave is to commence, provided the sanctioning authority may waive the notice required in urgent and unforeseen circumstances or on Medical grounds.

Such statement shall, if so required by the Chief Executive Officer or by the authority so empowered,include particulars of the means by which, or the sources from which, such property was acquired. No FTE shall absent himself from his duty or be late in attending office or leave the station without having first obtained the permission of the competent authority. An employee belonging to FTE on leave shall unless otherwise instructed, return to duty at the place at which he was last stationed. An employee who is availing leave for more than 30 days should obtain reposting orders duly submitting application in advance to the competent authority to issue the same.

I) No employee shall accept or permit any member of her/his family to accept, from any person any gift, the receipt of which, or any service the performance of which, will place the employee under any kind of official obligation or embarrassment in performing his/her duties in relation to any person. I) No employee shall engage themselves directly or indirectly in any trade or business or undertake any employment for remuneration without sanction of SERP. Where prior permission is asked for, the application (in the proforma appended to these Terms and Conditions as appendix – II) should be submitted at least 30 days before the proposed date of the transaction.

The client gets the advantage of the best-in-breed technologies, without any significant investment. A point of caution here is that while the RUC may be fixed at INR 5, sometime the ARC could be lower, or even zero. This is because during a period of reduced volume, resources continue to be deployed, though not fully utilized.

Time tracking in Float gives you a combined view of your team’s estimated vs. actual hours worked so that you can plan future projects with greater accuracy. By comparing that figure with the industry average, the company can analyze its current productivity. All of the above factors end up costing the company and affecting its bottom line. For instance, in terms of business, calculating FTEs may be of great use when determining how many hours part-time employees should work to equal the number of hours full-time employees work. Such calculations facilitate accounting processes such as estimating wages, payroll, costs, etc.

In case he /she fails to submit his/her written explanation before the date stipulated in the show cause notice, it will be construed that he /she has no explanation to offer and action will betaken accordingly. 2) In future, whenever SERP undertakes fresh appointment, the candidates will be appointed initially on contract for short term of 2 years and if their performance is satisfactory and there is need, they may be given long term employment contract renewable at a stretch for a period of 5 years. The maximum period of contract is till the individual attains the age of 58 years, subject to the individual putting in satisfactory performance as required by the SERP and further subject to availability of work and need. The maximum period of contract is till the individual attains the age of 61 years, subject to the individual putting in satisfactory performance as required by the SERP and further subject to availability of work and need. Time estimation in project management guide Improve your time estimation in project management with our guide…. With Clockify, you can easily track your cost rates per employee and then compare and contrast them with employee billable hourly rates.

Ii) The Chief Executive Officer shall fix up the duties and responsibilities of all the members of the staff from time to time with the approval of the Executive Council. These terms and conditions of employment shall apply to the staff of the SERP listed in condition 2.2 of these Terms and conditions. The Union Ministry of Labour has reportedly urged States to issue orders permitting fixed-term employment across industries. She looks at KPIs likegross profit margin(should be over 50% before hiring) and cash accounts (should equal min. 3 months’ revenue). For additional clarity, she researches industry averages to determine what Toggl Track can offer its employees. Though I’ll use yearly figures in my examples, you can gain useful insights by calculating monthly FTEs.