(a) INR 10,000 at the time when the idea is accepted by the company for implementation.
(b) At the end of the pilot stage, 20% of the amount of cost saving / reduction so achieved during this stage (subject to a ceiling of INR 1 Crore and irrespective of the grade of the eligible employee).
(c) Balance on actual cost saving / reduction achieved at the end of the year, subject to a ceiling of INR 1 Crore and irrespective of the grade of the eligible employee.
- It is clarified that the maximum aggregate ceiling in respect of the rewards mentioned at (a) and (b) above, shall be INR 1 Crore.
- The amount payable to the employee(s) will be subject to applicable taxes.
- The employee / group of employees will be entitled to a maximum gross payout of INR 1 Crore irrespective of the cost savings / reduction amount actually achieved or the grade of the eligible employee.
- Employee(s) will be the beneficiary of the reward only in the first year of implementation of the idea(s) and shall not be entitled to any further amount even if the same idea is implemented by the company in the years subsequent to the year of implementation.