Employees are classified as follows for the purpose of benefits compensation:
- Overseas Based Overseas Hired (OBOH): a member of the staff based overseas, hired internationally and in India solely for the purpose of teaching at AES;
- Locally Based Locally Hired (LBLH): a member of the staff who is an Indian national hired locally;
- Overseas Based Locally Hired (OBLH): a member of the staff who is neither an OBOH nor an LBLH employee.
Summary of Benefits for Overseas Based Overseas Hired (OBOH) Faculty
Below is a summary of benefits available to overseas hired faculty (classified as OBOH), effective July 1, 2018. Please note that it is only a summary.
- Housing: Furnished apartment provided.
- Utilities: School pays for air-conditioning, electricity, water and cooking gas up to a limit.
- Telephone and internet
- Setting-in-Allowance: Provided at the time of arrival per family.
- Professional Development: Funding provided
- Beginning / End of Contract: Economy ticket for employee, spouse, up to 2 accompanying children.
- Home Leave airfare: For employee, spouse, and up to 2 accompanying children.
- Non-accompanying Child(ren): One trip back to Delhi in the 1st year, following graduation from AES.
- Family Emergency
- Transportation Allowance: Provided for those who stay outside of Chanakyapuri area.
- Tuition: Tuition, registration and application fees are not charged up to two accompanying children.
- Shipping (Air/Sea): School pays for freight and packing charges up to established limits.
- Shipping Insurance (Transit): Reimbursed, as per policy limits
- Hardship Allowance: Provided after completion of 3 years.
- Provident Fund (Retirement): AES contributes the required percentage of salary to Provident Fund (currently it is 12% of the annual salary). Employees are also required to contribute an equal amount to Provident Fund. The fund earns interest which is accrued annually. The accrued amount is payable upon separation or upon turning age 58, whichever comes later.
- Gratuity: On completion of 5 continuous years of service, 15 days salary per year of service is paid, as per the Indian Gratuity Act. Currently the maximum amount payable is 2 million rupees (US$ 32,000 at the current exchange rate).
- FICA: AES contributes the required percentage of salary and benefits to FICA (Social Security and Medicare) for US tax-payers. Employees are also required to contribute an equal amount for FICA.
- Tax (India): AES will cover the financial impact of Indian taxes owed on salary and other remuneration received from the School. India has Double Taxation Avoidance Agreements (DTAA), with many countries, including the USA, UK, etc. OBOH employees are required to apply for a Tax Residency Certificate (TRC) from their home tax country, if such agreement exists. AES will not cover the Indian tax liability if one does not apply for the TRC.
- Tax (Home country): Employee is personally responsible for home country tax filing.
- Worldwide Health Insurance, including dental and vision.
- Personal Accident Insurance
- Emergency Medical Evacuation
- Life Insurance: Covered for one year’s salary
- Long-Term Disability Insurance: 60% of monthly salary/ maximum benefit of $6,000/month
- Sick: 15 days per year;
- Sick Leave Bank (SLB): Automatic enrollment from date of joining. Minimum 1 day sick leave contributed annually.
- Professional: 5 days are available for conference attendance and similar professional activities.
- Personal: 3 days
- Maternity: 182 calendar days
- Adoption: 45 calendar days
- Paternity: 10 work days
- Sabbatical: After completion of 6 years of service, subject to approval by Board
Note: The above description is a summary. AES Board policies will take precedence over this summary.