HSBC

BENEFITS PLUS
Dear Colleague,

HSBC constantly endeavors to provide a comprehensive,

market aligned benefits proposition to its employees.

Our employee benefits proposition comprises of a bouquet of

standard, tailored and pioneering benefits formulated to cater
to the needs of our unique mix of employees.

Our benefits are designed with something for everyone and

you are encouraged to discover this for yourself, by going
through this document, and understanding and utilizing the
benefits.

Particulars provided in this document are a snapshot only,

for complete details of the policies login to HR Direct.
Should you have any suggestions or feedback to improve
our benefits proposition, I will be happy to hear from you

Best Regards,
Vikram Tandon,
Head of Human Resources

'Building The Best Place To Work’

Powering a fuller life!

Flexible Work Flexible Work Arrangement (FWA) provides work-

Arrangement life balance, while creating a more inclusive
environment for our diverse workforce.
Eligibility
GCB 7 and above The FWA Policy allows an employee the following
management employees options :

• Staggered Hours (Flexi Time)

• Part Time
• Telecommuting (Remote Working)

Additionally, for returning mothers, appropriate

arrangement and duration may be planned, as per the
nature of her role and as mutually agreed with the line
manager.

2
Maternity Leave Maternity Leave allows female employees time off
for child birth and to take care of the new born baby.
Eligibility
GCB 7 and above • 26 weeks for one confinement
• Can be awarded regardless of the number of
management female
children the employee has at the time of
employees
applying for Maternity Leave
All female management • Leave can begin from eight weeks preceding the
employees who have expected date of delivery
completed 79 days of service
with the group in the preceding
12 months are eligible for
Maternity Leave at full pay.
 3

Paternity Leave Paternity Leave allows male employees with time off
for handling responsibilities related to parenthood,
making adjustments at home to support the family
Eligibility and to take care of the new born baby.
GCB 7 and above
management male • 10 calendar days in each instance
employees • Can be split into 2 tranches
• Can be awarded regardless of the number of
All male management children the employee has at the time of
employees are eligible for applying for Paternity Leave
Paternity Leave at full fixed pay • To be availed not earlier than 2 days preceding
from the day of joining the the expected date of delivery or within 6 months
Bank. of the birth of the child

Adoption/Surrogacy Adoption/Surrogacy Leave allows employees who

Leave have opted for a child from adoption or surrogacy:

Eligibility • 26 weeks leave in one instance - for female

employees
GCB 7 and above • 10 calendar days leave in one instance - for
management employees male employees
• Adoption Leave can be availed irrespective of
the age of the children adopted or the number of
children the employee has at the time of
adoption/surrogacy.
• To be availed within 6 months of placement of
the child.

Bereavement Leave Bereavement Leave allows employees who have

suffered the death of an immediate family member:
Eligibility
• 5 working days leave in an instance
GCB 7 and above
• Immediate family is defined as: Spouse, Domestic
management employees. Partner, Child, Parent, Parent-In-Law or Sibling of
the employee
• This leave can be split in maximum of 2 tranches,
over a period of 60 days from the date of the event

Privilege Leave Privilege Leave has been instituted with the view
that, for employees to work efficiently, sufficient
time must be given for leisure and relaxation.
Eligibility
GCB 7 and above • 25 working days in a calendar year excluding
management employees. any non-working day (bank holidays, public
holidays, etc)
• Maximum of 5 days unused leave in a year can
be carried forward until the end of Q1 of the
following year
• Core Leave is a mandatory requirement for all
employees (at least one leave tranch of
minimum 10 days)
 7

Sabbatical Sabbatical allows employees to take a break from

Eligibility
GCB 7 and above
management employees
Service tenure and performance
conditions apply.
work to pursue alternate interests and activities,
while continuing their relationship with the
organisation:
• Between 3 to 6 months of leave for - Education
break, Medical reasons regarding self or family,
Charity Projects, Extended Travel etc. the first
month of which will be a paid leave

Sick Leave Sick Leave allows time off to employees if they are
unwell.
Eligibility
GCB 7 and above • 15 working days in a calendar year
management employees • Additional sick leave subject to approval in case
of a critical illness case

Volunteering Leave Employee volunteering is a core component of our

commitment to supporting communities in which we
Eligibility operate.
GCB 7 and above
management employees • Volunteering Leave allows 2 days of paid leave
in a calendar year

10

Concierge Service The Concierge Services Programme (in select

offices) can be availed to do routine tasks such as :
Availability
Mumbai offices Bill Payment Services, Booking Travel Tickets,
Booking Movie/Play Tickets etc.

11

Taxi Service For Late
Working
Eligibility
GCB 7 and above
management employees
Not applicable for employees
who work in shifts
Reimbursement of taxi fare for late working ensures
that employees feel safe and comfortable when
required to travel home from work late at night.
• If an employee leaves the office after 8:30 pm,
he/she can claim from HSBC the full cost of the
public taxi fare, door to door
• Radio taxi is the preferred mode of transport
12

Compensatory Off Compensatory Off can be claimed if an employee

works on a Bank holiday on account of business
Eligibility exigency, special projects or business initiated
training and needs to be utilised within a month of the
GCB 7 and above
holiday worked.
management employees
Employees are eligible for a reimbursement of actual
expenses incurred on food/ travel up to a maximum
of INR 1,000 per day when they work on a holiday,
provided that food arrangements have not been
made by the bank.

13

Mothers Onboard The Mothers Onboard programme, a unique offering

Programme specially designed for expecting parents/ new
parents, provides help and support by aiding new
Eligibility parents transition from maternity/ paternity leave
GCB 7 and above back to work. Support includes:
management employees
• Group Counseling sessions
• Maternity transition conversations
• Flexible working arrangements
• Infrastructure support like daycare centers and
nursing rooms
Powering a healthier life!
MARKET
1 LEADING

WellnessforLife WellnessforLife Programme has been instituted so

as to promote good health amongst our employees.
Eligibility
All full-time and part-time Key features of the Programme are:
employees • Annual Health Checkups- choice of date and a
diagnostic center of convenience from a defined
list of centers
• Healthex - an online clinical assessment program
• Ask Expert
• Doc Round The Clock
• General physician and nutritionist counselling
(on call)
• Access to online content on
www.vidalhealth.com

BES T
2 CLASS
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Emergency Response HSBC has partnered with a service provider

Service (Topsline) to provide employees with Emergency
Response Services to assist people during an
Note Emergency or Life Threatening Situations.
The Emergency Response
Service is currently • Avail of the service by contacting the helpline
available to employees who number
are working in Mumbai.
Helpline numbers are
mentioned under Contact
details, at the end of this
document

MARKET
3 LEADING

Group Term Life This provides financial protection to an employee's

Insurance & Critical loved ones through a Term Life Cover in the event of
Illness Cover death or critical illness of an employee.

Eligibility • Term Life Cover: 3.5* times of Annual Fixed Pay

*subject to Max of INR 30 million
All full-time and part-time
• Critical Illness Cover: 0.5 times Annual Fixed
employees
Pay subject to a maximum of INR 3,000,000

MARKET
4 LEADING

Medical The Medical Insurance cover supports employees in

Hospitalisation Cover
Eligibility
GCB 7 and above
management employees
times of medical emergencies that require
hospitalisation.
• Coverage of INR 800,000 for the employees and
their dependents (partner and children), with
additional coverage upto 8 lakhs for specified
critical illness related hospitalisation
• Provisions for voluntary coverage of Dependent
Parents/Parents-In-Law on a self-pay basis upto
a sub-limit of INR 250,000
 5

Group Personal Group Personal Accident supports employees in the

Accident Cover event of an accident, which may affect the
individuals' ability to take care of family
Eligibility
All full time and part time • Insurance coverage in the event of disability
employees (or death) due to an accident
• Applicable on and off duty (24/7)

Powering your inspiration!

BES T
1 CLASS
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Recognition Global:
At Our Best Recognition is HSBC's global recognition
Eligibility programme designed to promote a globally shared
All full time and part time understanding of what HSBC values look like in
employees practice, and a consistent way of recognising people
who demonstrate them. The on-line platform enables
employees to celebrate colleagues across the Group
who demonstrate HSBC values.

Local:
• Dynamo (Quarterly Awards)
• Champions (Annual Awards)

Long Service Awards Long Service Awards recognizes and rewards an

employee's long tenure of service with the Group
Eligibility
All full time and part time Awarded on completion of :
employees • 10 years
• 20 years
• 30 years
Powering your financial goals!

Car Lease Car Lease enhances our overall employee benefits

proposition.
Eligibility
All GCB 6 & above • Employee can opt for a car of choice basis
permanent, full time eligibility
management employees • Option of returning the car to the Leasing
Company, or buying it at a market determined
value, or opting for another car at the end of the
term
• Option to choose amongst 3 vendors

2
Voluntary Provident The Voluntary Provident Fund enhances an
Fund employee's financial safety.

Eligibility • Up to 88% of Basic salary can be contributed to

All full time employees Provident Fund
• Total Provident Fund amount earns interest (at a
rate approved by the trustees)

Provident Fund Loan The Provident Fund Loan has been instituted for the
financial benefit of the employees.
Eligibility
All full time employees • Loan granted at 1% over Provident Fund Interest
declared in the last financial year
Tenure and repayment • Can be availed for: Illness of a dependant family
conditions apply member, Marriage, Obligatory religious
ceremony, Purchasing a house

4
Inter Group Gratuity The Inter Group Gratuity for employees completing a
combined uninterrupted service of a minimum of 4
Eligibility years and 190 days across HSBC entities in India
All full time employees
• Ex-gratia paid in lieu of Gratuity
• Amount payable is the sum total of the
individual amounts advised or frozen by each
Group entity worked with, based on the last
drawn wages with each entity
Powering your potential!
BES T
1 CLASS
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Professional Study The Professional Study And Qualifications

And Qualifications Programme encourages our employees to enhance
their knowledge by acquiring professional
Programme qualifications and undertaking educational
programmes.
Eligibility
All full time employees • Provides a range of technical certifications and
PGDBM programs to choose from
• 100% reimbursement of the approved study cost
• For GCB 6 to 8, up to INR 350,000 is reimbursed
• For GCB 5 and above, up to INR 700,000 is
reimbursed
• Special provisions for completing JAIIB and CAIIB

Other benefits
1

Relocation Relocation provides assistance to new hires and

Eligibility
All GCB 7 and above
management employees
employees to make relocation smooth and stress
free, by providing the following facilities:
• Transportation
• Famaliarisation Trip
• Transit Leave
• Temporary Accommodation
• Settling Allowance
• Household Goods & Baggage Movement
• Vehicle Transportation & Registration
• Housing Assistance
• Daily Expenditure Allowance (during relocation)

Referral Programme The Employee Referral Programme recognises and

Eligibility
All GCB 7 and above
management employees
rewards employees who actively contribute towards
building HSBC by bringing in suitably qualified
applicants to fill vacancies.
• The referring employee is eligible for the award
after the referred GCB 5 to 7 employee completes
3 months, and GCB 4 employee completes
6 months
• For female candidates the referral award ranges
from INR 20,000 to INR 750,000
• For male candidates the referral award ranges
from INR 20,000 to INR 300,000

HAVE YOU SEEN YOUR TOTAL REWARDS STATEMENT?

For your convenience and ease of reference, HSBC had made available a Total Rewards
Statement containing the detailed breakup of your rewards category wise. Please log
on to “Salary and Tax module” on HR Direct to view your Total Rewards Statement now!
Contact Details

Pradnya Chavan : 022 4505 3002

Archie Fernandes : 022 2268 1155
Concierge Services (Mumbai) Alaconcierge Mgrd
INM/IN/HBAP/HSBC@HSBC03
support@alaconcierge.com

Emergency Response Service (Mumbai) TOPSLINE : 1252, 022 - 67599900,

9821531252

Medical Insurance Hospitalisation

Medi Assist India Private Limited (TPA) 1800-419-1151
First point of contact Sonali Dhotre : 7718813076
hsbc.mediclaim@mediassistindia.com

WellnessforLife
Helpline 91 9620115366
info@vidalhealth.com

In case of any queries Jyoti Nair : 98196 99624

• Ask Expert Nutrition 080-49166770
asknutritionist@vidalhealth.com
• Ask Expert Stress 080-49166766
askcounsellor@vidalhealth.com
• Doc Round the Clock 080-49101010
askdoctor@vidalhealth.com

HRDirect- Internal: 3380, Tollfree: 18002000053

You can access HRDirect through this path-
HSBC NOW >Tools > HR Direct/ MYHR Desktop

For any other queries,

please call HRDirect or reach out to your HR Generalist
DISCLAIMER
The actual terms of the policies will be as per the policy documents
uploaded on HRDirect.
The benefits and policy details mentioned in this document are only
a snapshot and are not comprehensive with exclusions and
inclusions. All benefits are subject to change and HSBC reserves the
right to amend, modify, suspend or terminate any of the policies,
programmes, procedures and processes described, at any time
without advance notice.