Fees for Contingency assignments are only requested upon the successful placement of a candidate. We will therefore source and introduce candidates to you, manage the negotiation process, and keep fine-tuning our search criteria until you exchange contracts with your new employee. Only then will we issue an invoice for our services.
Upon selection of the candidate recommended by the Saraswathy, the Company will pay the Saraswathy for the services rendered along terms as follows:
% for lower / Middle / Top level of Actual Cost to Company (ACTC).
Gross Annual compensation would cover the employee’s total cost to company including Basic, HRA/CLA, Fixed Allowances, LTA, Medical, Car related reimbursements, Retirals, Assured Performance Bonus. It would not include any component of a Variable nature such as Company Bonus/Ex-gratia and Variable Performance Incentives that may be decided by the management from time to time.
Taxes and levies if any, shall be extra on selection, the Company must give the saraswathy a complete breakup of the compensation offered to enable the Agency to bill the Company (shall be kept in strict confidence). In case some of the profiles are not short listed, the Company will return the CVs to the Agency.
All payments are to be made, after deduction of the applicable tax deduction at source, in 30 days of the Agency raising the invoice after the candidate joins the company, by way of an account payee cheque in favour of ” Saraswathy Consultancy India Private Limited “
In case any employee recruited through the Saraswathy leaves the Company within 90 days of having been recruited, Saraswathy shall then recruit a new employee to fill such position and for the same, Saraswathy shall incur the complete cost of such recruitment.