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Applicable to: All full-time salaried employees and full-time contract staff

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1. Philosophy

Zemuria’s performance management framework is designed to reward sustained contribution and impact, while ensuring consistency and financial discipline as the organization scales. Performance reviews and compensation decisions are not entitlements and are not triggered automatically by tenure or employment anniversaries.

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2. Standardized Annual Appraisal Cycle

Zemuria follows a single, standardized annual appraisal cycle, aligned with the Indian financial year.
  • Performance period: 1 April to 31 March
  • Appraisal and review window: March
  • Salary revisions (if any): Effective from April payroll
Salary revisions are not linked to individual employment anniversaries. Completion of one year of service does not automatically trigger an appraisal or salary increase.

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3. Eligibility for Performance Appraisal

To be eligible for an annual performance appraisal in a given performance year, an employee must have completed a minimum of 200 active working days during that performance year.

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3.1 Definition of Active Working Days

Active working days exclude periods of extended absence, including but not limited to:
  • Maternity leave
  • Extended medical leave
  • Sabbaticals
  • Loss of Pay (LOP)
  • Any other prolonged absence from active duty
This eligibility requirement applies uniformly to all employees, regardless of the reason for absence. Employees who do not meet the minimum active working-day requirement will be considered for appraisal in the next applicable annual cycle after eligibility is met.

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4. Bonus, Variable Pay & Incentives

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4.1 Nature of Bonus and Incentives

  • Bonuses, incentives, commissions, and variable pay are discretionary and performance-linked
  • They do not form part of fixed compensation and are not guaranteed

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4.2 Eligibility Criteria

Eligibility for any bonus or variable pay requires:
  • Meeting the minimum active working days threshold
  • Demonstrated contribution during the performance period
  • Satisfactory performance assessment
Extended leave periods may result in ineligibility, proration, or deferral of bonuses, as determined under the applicable incentive plan.

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5. Promotions & Role Changes

  • Promotions and role changes are based on sustained performance, skill readiness, and business need
  • Employees on extended leave may have promotions deferred until sufficient post-return contribution is demonstrated

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6. ESOPs & Long-Term Incentives

  • ESOP and long-term incentive vesting schedules may be paused during periods of extended leave
  • Vesting resumes upon return to active service, subject to the governing plan documents

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7. Transition from Anniversary-Based Appraisals

Zemuria previously followed anniversary-based appraisals for certain roles. As part of organizational standardization:
  • Anniversary-based appraisals are discontinued
  • All employees are governed by the standardized annual appraisal cycle

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7.1 Transition Handling

In exceptional cases involving key talent hired under legacy expectations, leadership may approve one-time transition adjustments or retention measures. Such decisions are discretionary, documented, and do not establish precedent.

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8. Notice Period & Resignation

This policy does not restrict an employee’s right to resign. Standard notice period and exit policies apply uniformly.

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9. Governance & Discretion

  • Performance evaluations are subject to managerial assessment, leadership calibration, and business conditions
  • HR is responsible for ensuring consistency, fairness, and policy compliance
  • All appraisal and compensation decisions are final and not subject to appeal