Bangalore: India Life Hewitt Ltd has bagged the contract to manage the employee benefits of Tube Investments of India, part of the Chennai-based Murugappa Group.

A press release from India Life said it will service all three Tube Investment companies - TI Cycles, Tube Products of India and TI Diamond Chain, covering close to 4500 employees. India Life Hewitt will process and administer the retiral trusts.

This new agreement will give the employees of Tube Investments a single window for both their payroll and retiral benefit needs.

Tube Investments is the flagship company of the $814 million Murugappa Group, a conglomerate with diverse business interests.

TI has business interest in steel strips, steel tubes, automotive chains, bicycles, metal forming products and auto components.

Speaking on their latest win, Leo Fernandez, vice-president India Life Hewitt, said, "Out-sourced shared service centres are increasingly being adopted by several large Indian business groups as they seek to eliminate duplication of costs, leverage on consistent information and offer improved service to their internal customers."

India Life Hewitt Ltd is the country's largest HR BPO. Founded in 1998, it is now a joint venture of the View Group and Hewitt Associates LLC.