Page 68 - Interloop Sustainability Report 2019

NOURISHING WORKFORCE

The company spends considerable Benefits* Executive Non-executive Employee Stock Option
percentage of its profit to provide all Life Insurance Yes Yes
basic facilities to its people including Scheme
EOBI contributions & social security. Health Care Yes Yes
Multiple employee welfare schemes Disability / Invalidity Coverage Yes Yes The company introduced “Interloop
including gratuity, provident fund, Parental Leave Only females Only females Limited Employees Stock Option
health care including health insurance, Retirement Provision No Yes Scheme, 2016 (ESOS)” to offer
group life insurance offering death, Stock Ownership Yes No Company Shares to its eligible
accidental & disability benefits, Residence Yes No Executive Employees, pursuant to
scholarships for employees’ children, Company Vehicle Yes (E5 & above) No the Public Companies (Employees
special welfare assistance for non- Subsidized Meals Yes Yes Stock Option Scheme) Rules, 2001,
executives, free pick & drop, subsidized Pick & Drop Yes (E1-E4) Yes transforming them from Stakeholders
meals, etc. are in place. to Shareholders. These shares qualify
*Benefits for full time employees including executives & non-executives. Not applicable to for bonus shares, dividend or similar
Special Welfare Fund contractual employees corporate benefits announced by
the Company from time to time. The
for Non-Executives scheme is flexible, voluntary and

focused on long term growth and
Interloop has set-up an additional prosperity of the employees. 356
welfare fund for non-executive executives have already become
employees and is supporting them shareholders. It is, however, pertinent
for marriages, children scholarships, to mention here that the scheme is
critical illness or death and any other not in operation since listing of the
sudden needs.
Company on PSX, primarily due to
Residential Facilities the fact that the terms of the scheme
require to be consistent with the
increased legal compliance for a
To facilitate non-resident male & female
executives, Interloop provides top- listed entity. The proposal for subject
class residential facilities including updation in the existing scheme is
hostels and upscale apartments within under review and pending approval
company premises, as per space from shareholders of the Company and
availability. SECP respectively.

Leave Fare Assistance Management Trainee

& Anniversary Day Off Officers Program
Every year, Interloop inducts fresh
To promote work life balance, Interloop
provides annual Leave Fare Assistance graduates, 50% females, across
(LFA) to executive employees for various functions through the
vacation with family. It also presents Management Trainee Officers Program.
them a day off on their wedding The one year working contract exposes
anniversaries with paid dinner to enjoy MTOs to a variety of operational and
the memorable occasion with their strategic roles. After final evaluation,
spouses. successful MTOs are offered
permanent jobs.

66 Interloop Limited Sustainability Report 2019 67