Benefits_Enrollment_Guide

INSIDE THIS GUIDE 2 Choose the right benefits that suit the needs of youWhat is the Flex plan? & your family…Buying Your Benefits 3 Traditionally, your benefits package was fixed and did not take into account different lifestyles and family circumstances. Flexible BenefitsGetting Started 5 have been designed to allow your benefits package to be as individual as you are.When can you make your 6Benefit Choices You can choose the right benefits and the right level of coverage to suit your circumstances and meet your needs. It’s up to you to choose the bestHow to Enroll 7 benefits for you and your family. There are a range of benefits available; some that the Company provides as a minimum benefit and some that areMedical Benefit 8 available in addition or with enhancements for you to purchase.Personal Accident Insurance 12 Every year, you have the opportunity to change your benefit choices to suit your changing priorities in the coming year, per the applicable FlexLife Insurance 15 rules. Make sure you take the time to read this booklet, understand what is offered, and make the right choice. They’re your benefits – make the most of them. During annual enrollment, you have an opportunity to consider your Flex benefit options for 2014 – 15 and choose benefits that offer overall value, provide flexibility, protection and peace of mind. As an eligible employee, your Flexible benefit plan includes medical, life, accident / disability coverage and non insurance benefits. As you think through your choices, be sure to use the online tools and information available on BenefitsAsia. The site is available during annual enrollment and throughout the year.Self-Funded Options 18Important Definitions 19Appendix 20 1

What is the Flex Plan?Flexible Benefits Plan allows you to choose the mix of benefits that best suit you and your family’s needs. As an existingor new employee with the Company, you are immediately entitled to a minimum benefits package which includesMedical, Personal Accident and Life cover.Benefit Plan Coverage DetailsMedical Plan Provides coverage for expenses incurred by Employee and their dependents (insuredPersonal Accident members) for inpatient treatment (Min. 24hours hospitalization) due to sickness, disease or accidental injuries. Benefits are customized to cover Maternity, Dental, and OutpatientTerm Life expenses.Non InsuredBenefits Provides coverage in the event of death or temporary and permanent disablement due to an accident. Provides coverage in the event of death due to accidental or natural causes. With critical illness, this provides lump sum payout at the time of diagnosis towards the treatment of any of the listed critical illnesses. Health Check and Gym MembershipFlexible Benefits Plan offers:• Core benefit: Minimum benefit provided by at no cost to you• Optional benefits: Top-up or Non Insurance benefits that you can purchase through balance flex pointsThe chart below shows 2014-15 core and optional benefits for all salary banded employees:Core Benefits Optional Benefits – You can choose…Medical:Employee Only Plan for INR 300,000 Core plus 7 options. Ranging from Employee only cover to Employee plus Extended Family options.Personal Accident: Default option is “Employee, Spouse Children and Parents – INRThree (3) times Annual Salary 400,000” Plan (Employee + 5) Core benefit plus two options to enhance the sum insured limit up to (5.5) times annual salary.Term Life: Core benefit plus two options to enhance the sum insured limitThis is the default plan, to knowdetails see your benefits statementIn the following pages, the benefits available are outlined with a short description and details of where to get moreinformation. Additional detail on each benefit is available on BenefitsAsia (your online enrollment tool). Each benefit isdivided into following sections:• What you get…this is the standard or minimum level of benefit offered to you by the Company. You may not reduce or opt out of these benefits.• What you can choose…these are the additional benefits or enhancements to ‘what you get’ that you can buy with your Flex points and your salary.• What it costs you…you pay for enhancements and additional benefits with your Flex points and your salary. Your benefit options are priced on the basis of their cost to the Company. 2

Buying Your BenefitsFlexible Benefits Plan pays the full cost of your core benefits, and then gives you the flexibility to buy optional benefitsthat are right for you. On enrollment, you are provided Flex points that you can use to buy benefits of your choice.If you would prefer to maintain your current benefits, you may simply use your Flex Allocation to buy back thesebenefits, or you may decide to spend your Flex points differently. If you find that your Flex point does not quite coverthe cost of the benefits you want, you can still purchase your benefit choices through salary deduction.Point conversion: 1 Flex Point = 1 Re.Flex Points Allocation: In keeping with our total rewards philosophy, all employees are allocated the same number ofpoints regardless of years of service or job grade. For new employees, Flex point allocation for your first year will beprorated based on your joining date and the days left in the benefit year.Flex point usage:Salary Flex optionsdeductionFlex pointsSpending your Flex PointsYou can spend your Flex points on your benefit choices at the start of the Flex plan year. However:• If your benefit choices cost more than your Flex points, any Over Purchase will be deducted from your post-tax salary• If you do not spend your full Flex points on your benefit choices, the balance of your Flex points will be forfeited• You can allocate only unused Flex points towards other non-insurance benefit during the enrollment period only.• If you leave the Company during the year, an adjustment may be made to your full and final settlement to reflect any remaining benefit costs or refunds due, provided no claims are made by you or your family members. In case of self funded benefits as well, the refund of the premium will come through to you provided no claims are made under it. 3

Buying Your BenefitsTax ImpactYour Contribution: Based on your benefits selection, any Over Purchase will be deducted from your post-tax salary.These contributions are subject to tax exemption as per Income Tax rules as amended from time to time –o Medical: Self, Spouse, Children and Parents under section 80Do Life: Self and Spouse under section 80Co Critical illness: Self under section 80CAll your contributions will be considered in the following order –o Medical benefit: Up to Rs. 15,000 for options with Self, Spouse, Children and additional Rs. 15,000 if you enroll Parents (Rs. 20,000 in case parents are senior citizens). You will not get this benefit in case of Parents in laws.o Any additional contribution beyond the Medical benefit limit would be considered under Life insurance: Up to Rs. 1,00,000 as part of overall 80C limitForm 16 will be updated accordingly to reflect the above-mentioned tax deduction.Left over points: If you do not spend your full Flex points on your benefit choices, the balance of your Flex points will beforfeited. 4

Getting StartedYour Responsibility Enrollment ToolsTo take full advantage of Flexible Benefits and receive the benefits that best meetyour needs and the needs of your family, you should: In addition to this Guide, you should• Review all benefits materials provided to you as a new hire or during the annual also use the other enrollment tools Eaton provides: enrollment period. • What you need to do• Participate in any benefits-related meetings / training sessions available to you, Also available online through so you are well informed about your benefits. BenefitsAsia• Remember the dates by which you must complete your enrollment. If you miss • Quick Guide to Benefits your enrollment deadline, you won’t be able to enroll until the next annual Enrollment enrollment period or you experience an eligible life event / family status change. • BenefitsAsia (access the site• Have all the necessary information you’ll need to enroll before you start the through HR web, or through the process, such as new dependent information. Internet at• Complete your enrollment as instructed in this Guide. • Use the following steps to login to BenefitsAsia.• Review your pay slips carefully and report any incorrect deductions (if any) immediately to HR. • 1) Login to http://connect.com/Who’s Eligible • 2) In \"Employee Resource Center \" Click \"Pay & Benefits\"YouYou are eligible to participate if: • 3) In \"India Flexible Benefits\"• You are a full time salary banded employee on roll with , India. Click \"Your Flexible Benefits On- line\"Your FamilyYou can enroll your spouse, children and parents / in-laws for coverage under thebenefit plans. Refer to “Important Definitions” page for dependent eligibility details.To enroll new dependentsYour current dependent information, as per United Healthcare’s records, is storedin BenefitsAsia. In case you want to enroll new eligible dependents, you have tosend the following details to BenefitsAsia admin team through email [email protected]:• Dependent name and relationship to employee• Date of birth• GenderOnce your dependents have been added to BenefitsAsia, you may enroll themonline.Note: It is the employee’s responsibility to understand the Company's definition ofdependent eligibility and provide accurate information when enrolling for benefits.Enrolling dependents who are not eligible could result in disciplinary action. 5