Sample Letter for Lost Company ID Card – Id Card Missing Letter
If you have lost your company ID card then you must inform your company about the missing ID card formally by writing an email. If you don’t know how to white explanation letter for lost company ID then you can find answers to all your questions here with us.
We bring a format for ID card missing letter. With the sample mail of lost company ID, you can also request form for new ID card. Use this ID card missing letter along with replacement of lost card to write your own letter.
Sample Explanation Letter for Lost Company ID
From:
Rakesh Gupta
52A, Gandhi Nagar
New Delhi
Date: 16.08.18
To,
Adarsh Swami
Human Resource Manager
Fullerton Software Ltd.
New Delhi
Sub: Regarding Loss of Company ID
Dear Mr. Gupta,
I would like to report the loss of my company ID, as of August 20th, 2018. While going back home from work day before yesterday, a pick-pocket stole my wallet which also had my Company ID card. Though I have filed a FIR for the same but I am not very sure whether I will be getting it back or not.
It was a mere accident and therefore, I request you to please issue a replacement of the same to me.
Thanking in anticipation for your assistance.
Yours sincerely,
Rakesh Gupta
Marketing Executive
Click here to download Letter for Lost Company id Card in Word Format
Other Related Formats
Request Letter for New Employee ID Card
New Employee ID Card Request Form
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Categories: Letters Tags: Company id card, Letter Format, Lost card
Sample Letter of Assets Format For Issuing Laptop, Mobile Phone and SIM
Companies issues different things to their employees which are required by them to work hassle-free. While issuing things like laptops, mobile phones etc., companies write a formal letter of assets stating everything that the company is issuing to the employee along with terms and conditions for the same.
Given below is a format for letter of assets for issuing laptop, mobile phone etc. which you can use for creating a personalized letter.
Format of Letter of Assets for Issuing Laptop, Mobile Phone and SIM
From:
Smita Singhal
HR Manager
Sinha Group of Companies
52 Gulmohar Lane
Delhi
Date: 26.05.2017
To,
Amit Tandon
H-52/A, Welengkar Apartments
Greater Kailash
Delhi
Dear Amit,
We would like to inform you that for the position you have joined Sinha Group of Companies, the management has decided to provide you with a laptop, a mobile phone and a SIM which comes under group connection of the company.
As per the Company’s policy, the designation on which you have joined, allows us to issue you with a Moto Xplay handset and a Dell laptop. We would further like to inform you that the company will bear only the rental cost of the mobile phone. In case of exceeding the limits, the payments will be debited from your salary.
We would like to share with you that you will be responsible for taking care of the handset and the laptop. In case of loss or damage, you will be responsible for the replacement. And when you will leave the company then you will be required to return the laptop, the mobile phone and the SIM card that the Company is issuing to you to the HR department.
Sincerely,
Smita Singhal
HR Manager
Sinha Group of Companies
Click Here To Download Need Issuing letter format for Laptop, Mobile phone and sim
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Categories: Letters Tags: Assets Format, Formal letter, Mobile Phone
Gazetted Officer Address & Identity Proof Format
ID proofs and address proofs are very important in day to day routine. Government has given the gazetted officers the responsibility of writing letter to authorities for different purposes mentioning the address and identification details in a sorted format.
Here is a sample example for your reference to help you frame a format which contains all the necessary details concerning the candidate in order to miss no information.
Format for Letter
This is to certify that Mr. Adam Smith S/o Mr. Robert Smith is residing at H. No. 12, Greenfield Apartments, Richmond Street, New York and he is working with ABC Insurance Corporation Ltd., 52 Andrew Street, New York. His personal particulars as given in this letter as correct to the best of my knowledge.
This letter is to be used for the purpose of obtaining PAN Card.
Categories: Others Tags: Address Proof, Identity, PAN Card
Family Emergency Leave Request Letter Sample
It happens so often that there is some emergency situation in the family and you are required to be with your family members to handle the situation. It becomes a little difficult to strike a balance between the responsibilities at work and the responsibilities of your family. In such a scenario, all that you can do is write a professional family emergency leave letter which consists of all the reasons because of which you need an immediate leave in order to inform your employers about the situation.
Family Emergency Leave Request Letter Sample
From,
Mathew Brown
A-42, Park Avenue Street
New York
Date:26th February 2015
To,
Sheila John
Marketing Manager
Amazing Technologies
1234 Park Avenue Road
New York
Dear Mrs. Sheila John,
This is to inform you that I am compelled to take an urgent leave due to some emergency situation in my family. My wife just called me to tell that her father has just collapsed because of cardiac arrest and he has been taken to the hospital. So I need to go to the hospital right away so that I can be there with my family. I will try to resume my work as soon as possible and will inform you about the status of the leaves I need one my father-in-law’s medical condition is clear.
I have explained all the details about my current project to my co-worker Mr. David Smith so that the project doesn’t suffer from any loss. I will also be available on phone, if in case there are any queries. My work record explains that I have been a dedicated employee of the company and I will never let the company bear any losses because of my absence.
I can be contacted during my leave via telephone at 123-45678 and email at [email protected]. Please leave me a message if case there is any questions or queries and I will respond them at the earliest. I thank you for considering this emergency leave as I need to leave urgently to be with my family. And I will make sure that I resume the work at the earliest and take charge of my responsibilities at work.
Thanking in anticipation. Looking forward for your response.
Yours sincerely,
Mathew Brown
Project Manager
Amazing Technologies
Other Related Transfer Letter Format
Maternity Leave Expenses Disbursement Letter
Compassionate Military Leave Letter
Marriage Leave Application Format
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Sample Job Transfer Request Letter Format due to Marriage
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Earned Leave Application Format for Employees
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Categories: Letters Tags: Emergency, Leave Letter, Request Letter
Work Experience Letter for Green Card
If you are a Green Card holder in United States of America then while applying for a new job the company may ask you to submit previous work experience letters from your past companies. If you are not sure of what format the letter should have then refer to the example template given below. Customize it as per your need and frame a formal letter using the same.
Sample Work Experience Letter for Green Card
Date: 11.01.2015
TO WHOM IT MAY CONCERN
Dear Sir/Madam,
This letter is to verify Ms. Ana Gupta employment at ABC Corporation, during the period of 15th February 2013 to 30th November 2014. Listed below are the roles and responsibilities that Ms. Ana Gupta performed as a Team Leader during the above mentioned period.
Job Title: Team Leader
Job Responsibilities: Leading and managing the team to achieve the sales targets given by the company.
We certify that Ms. Ana Gupta is an individual who will continue to make good contribution as Team Leader.
If you have any questions or queries in relation with the same, please contact our office at 123-456789.
Yours sincerely,
Suzane Smith
Human Resource Manager
ABC Corporation
Other Related Post to Experience Letters
Application Letter for Any Position Without Experience
Get A Job in HR Without Any HR Experience
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Experience or Relieving Letter Format
Cover Letter Sample for High School Student With No Experience
Sample Experience Certificate Format
Job Experience Certificate Format
Difference Between Experience Letter and Service Certificate
Relieving Cum Experience Letter
Categories: Letters Tags: Experience Letter, Green Card
Sample Sports Offer Letter
Mr.Anuj Kothari 14/05/2013
Kaveri Nagar,
Chandwali(West),
Navi Mumbai.
LETTER OF OFFER
Dear Mr. Anuj,
We take this opportunity to welcome you to (company).
This is in reference to your application form dated (date) and the brilliant interview session that followed on the same day. The management is glad to offer you the employment as a ‘Trainee’ on behalf of (trainee).
You will be posted in the (department) division of our organization based at Mumbai H.Q.
Upon joining you will become a part of our family. Your play program will be divided into four levels as mentioned below:
Level 1: Training:
The first level will last for a minimum of 6 months but is subjected to change depending on your performance. You will have to play this game at our Mumbai H.Q. However, you are allowed to quit playing by forwarding a 24 hours prior notice to the gaming authorities. Also at the same time if the gaming authorities find your performance unsatisfactory they hold every right to disqualify you with a similar notice.
Level 2: Probation:
You will be qualified for probation only after completion of level one. This level will also last for 6 months only to help you maintain the required efficiency and consistency. Your will be gifted with bonus points and money as per the instructions in the gaming Annexure attached to the mail. Furthermore, your online gaming expenses will be reimbursed under the maximum limit specified in Annexure __________ enclosed.
Level 3: Confirmation:
Your satisfactory performance and score earned in level 2 will qualify you for the third level.
Level 4: Achieving Work Objectives:
Similarly other progressive levels are strictly dependent on the basis of your performance in level 4. Continuous and timely efforts are highly expected of you to qualify for this level.
However, you require becoming a registered member with us if you want to be a part of the game. You will need to complete the following formalities with your ***/***:
- 2 sets of P.F Nomination Form
- Filled ESIC Declaration Form with joint postcard size photographs with your family.
- Xerox copy of PAN Card. In case you do not have one, you may submit your duly filled PAN Application Form.
Your appointment letter will be processed post completion of these formalities. The same will act as entry pass for the game.
We expect you to join in the game at the earliest and send us your confirmation on or before 25th May, 2013. No further application will be accepted post the mentioned date unless we unleash a new date in writing.
Kindly return the enclosed copy duly signed as your acceptance of the game and the rules stated.
We believe that your knowledge, skills and experience well prove fruitful for our game. We will further make sure that our support for your professional development and growth will reflect in your Game Score.
Yours faithfully
For Anosmatic Pvt LTD
PERSONNEL MANAGER
Click Here To Download Sports Offer Letter
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Categories: HR Tags: Sports Offer Letter
Employee Recognition Award Policy Sample
Award & Reward policy
Doc. No. HR/Policy/0024 |
||
POLICY TITLE: Employee Recognition Policy | Document Type: Central | |
In-charge Division/Department: HR Department |
AUTHOR / DEPT. HEAD: | GEN. MANAGER: |
CC: Planning, Procurement, Finance, Projects, Marketing & Technical, Administration |
Effective Date: 30/July/2012 | |
REVISION |
DATE |
DESCRIPTION OF CHANGES |
REQUESTED BY |
0 |
30-07-12 |
INITIAL RELEASE | Kashif Mumtaz Ahmed |
|
|
- 1. General
This policy is intended to recognize and appreciate an employee on outstanding contributions that further the goals and objectives of alfaal. Sincere thanks never grow old. Ongoing, meaningful rewards and recognition provide an effective, low cost way of raising moral and encouraging higher levels of performance.
- 2. Definitions
Pride – refers to self-respect, to satisfaction derived from achievements, to qualities or skills that do one credit. Pride can be derived from various sources and is experienced at different levels:
- individual pride in the workplace (personal/team/work-unit);
- organizational pride (department or agency);
Pride is enhanced when appreciation is conveyed through recognition.
Recognition (reconnaissance) – refers to validation through demonstrated appreciation, to acknowledgement and, in some cases, to awards. Recognition covers a range of formal and informal practices in the workplace that collectively express and reinforce values and the way that people work together.
Formal recognition – refers to structured, scheduled activities (for example, the Awards of Excellence,) and departmental-level recognition events. The credibility and integrity of formal recognition programs within organizations and institutions is crucial.
Informal recognition – refers to everyday issues of trust, self-worth and working relationships with others. Informal recognition is extremely important in fostering pride, but is often overlooked. This type of recognition supports an employee’s identification with the organization and its mission, and provides a foundation for formal recognition.
- 3. Employee Recognition Ideas
Employee recognition can be possible by two ways
1) With No Cost
2) With minor to moderate cost
1.1 Employee Recognition Ideas (no cost)
i) Create and post an “Employee Honor Roll” in reception area
ii) Make a thank you card
iii) Give employees an extra long lunch break
iv) Establish a place to display memos, posters, photos and so on, recognizing progress towards goals and thanking individual employees for their help.
v) Establish a “Behind the Scenes” award
vi) At a monthly staff meeting, award an Employee of the moth and invite co-workers at the meeting to say why that person is deserving of the award.
vii) Recognize employees who actively serve the community.
viii) Start an employee recognition program. Give points for attendance, punctuality, teamwork etc. Provide gift certificates to employees who reach certain point goals.
ix) Find ways to reward department – specific performance
x) Plan a surprise achievement celebration for an employee or group of employees.
xi) Write a letter of praise recognizing specific contributions and accomplishments. Send a copy to senior management and the employee’s personnel file.
xii) Acknowledge individual achievement by using employee names in status reports.
xiii) Greet employees by name.
xiv) Practice positive nonverbal behaviors that demonstrate appreciation, such as smiles or a handshake.
xv) When someone has spent long hours at work, give a letter of thanks to him.
xvi) Acknowledge and celebrate birthdays.
xvii) Arrange for an outstanding employee to have lunch.
1.2 Employee Recognition Ideas (minor to moderate cost)
i) Plan a surprise picnic.
ii) Create a Hall of fame wall with photos of outstanding employees
iii) Make a photo collage about a successful project that shows the people that worked on it.
iv) Make and deliver a fruit basket.
v) Inscribe a favourite book.
vi) One a year, have a “Staff Appreciation Day”
vii) Give flowers to an employee
viii) Give a blue ribbon to an employee for achievement
ix) Give puzzle as a award to a problem solver.
x) Have weekly breakfast with group of employees.
xi) Treat an employee to lunch.
xii) Send birthday cards to employee.
Approved By:
__________________ ________________
HR Manager
Click Here To Download HR-Policy-024 – Employee Recognition Policy – 30-07-2012
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Categories: HR Tags: Recognition
Sample PaySlip Format in Word Format
Please find attached payslip in word format.
Regn No. | Received Pay slip cumTime card for the Month of | May 2012 |
Emp Code «Emp_No»Employee Name «Employee_Name»F / H Name «Fathers_Name__Husbands_Name»
Designation «Designation» Department «Department» Doj «DOJ» |
FIXED SALARYBasic+DA 26604HRA 8868
Con. 8868 GROSS SALARY 44340 |
PF NoESI No.CL BAL
EL BAL EL Credit Loan/ Adv Bal
|
ATTENDANCE Working Days «Working_Days»Days Worked «Days_Worked»
EL «EL» CL «CL» ML LOP «LOP» Sunday «Sunday» Holiday «Holiday» OT Hrs. OT Amt. OT ESI |
EARNINGSE.Basic+E.DA 26604E.HRA 8868
E.Con. 8868 Basic Arr+DA Arr HRA Arr Con.Arr.
TOTAL EARNINGS 44340 |
DEDUCTIONSESIEPF 780
LIC Veh. Loan Loan Advance P. Tax Inc. Tax LWF TDS Mobile Ded 804 TOTAL DED. 1584 |
NET SALARY «Net_Salary»ROUND PAY «RoundOff» | Authorized Signatory | Signature |
Click Here To Download Payslip Format
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Categories: HR Tags: Payslip Software
Sample Travel Reimbursement & Daily Allowance Policy
I have Attached Sample Travel Reimbursement & Daily Allowance Policy.
TA/DA NOTE APPROVAL
Date: 02nd Aug 2012
BACKGROUND:
Employees of Celkon at present are being paid TA DA and miscellaneous expenses incurred in travel on official tours as per the extent of existing rules. These allowances under these Rules are insufficient to cover the actual expenses incurred for touring. Since it is imperative to have Tour Rules conducive for maintaining sense of quality for all our staff it is being suggested as following:
PROPOSAL:
It is being proposed to revise the Tour Rules and apply the Rules as per the following Linkages
Designation |
Employee Category |
District Sales Officer/Territory Sales Officer/Any officer, Executive level positions. |
Grade – I |
Area Service Coordinator/ Territory Sales In charge/All Assistant Manager positions. |
Grade –II |
Area Sales Manager/Territory Sales Manager /service Manager/All Deputy Manager positions. |
Grade –III |
Zonal Sales/service Manager/State Heads |
Grade –IV |
The proposed Tour Rules as per above Linkages are submitted in the annexure for approval.
TOUR, TRAVEL AND DAILY ALLOWANCE RULES ON OFFICAL TOURS
Grade and Travel Entitlement:
Grade |
Designation |
Entitlement (Class of Travel) |
Local Conveyance |
IV |
Zonal Sales/service Manager/State Heads | II Tier Ac / Air@ | Cab/ 4wheeler with as per actual |
III |
Area Sales Manager/Territory Sales Manager /service Manager/Deputy Managers. | III Tier AC / Volvo AC Buses | Auto/Self as per actual |
II |
Service Coordinator/ Territory Sales In charge/Assist Managers. | Sleeper / Non AC Buses | Auto/Self as per actual |
I |
District Sales Officer/Territory Sales Officer /service Officer/executives | Sleeper / Non AC Buses | Auto/Self as per actual |
@ Employees in Category – IV are eligible for Air Travel only on prior approval.
Number of Kilometers allowed per day category wise:
A maximum of 1200km will be reimbursed per month for staff of all categories. The Mileage / distance from residence to office and back would be deducted.
A Prior Approval for using Cab/4Wheeler is Mandatory.
Hotel Room Tariff Entitlements Limits:
State |
AP |
Karnataka |
Tamilnadu |
||||||
Category of Cities |
|||||||||
Grade |
A |
B |
C |
A |
B |
C |
A |
B |
C |
IV |
1500 |
1200 |
1000 |
1500 |
1200 |
1000 |
1500 |
1200 |
1000 |
III |
1200 |
1000 |
800 |
1200 |
1000 |
800 |
1200 |
1000 |
800 |
II |
800 |
700 |
600 |
800 |
700 |
600 |
800 |
700 |
600 |
I |
500 |
500 |
400 |
500 |
500 |
400 |
500 |
500 |
400 |
State |
UP/UK |
Rajasthan |
Delhi |
||||||
Category of Cities |
|||||||||
Grade |
A |
B |
C |
A |
B |
C |
A |
B |
C |
IV |
1800 |
1500 |
1200 |
1800 |
1200 |
1000 |
1800 |
1500 |
1200 |
III |
1400 |
1200 |
1000 |
1400 |
1000 |
800 |
1400 |
1200 |
1000 |
II |
1000 |
800 |
700 |
1000 |
700 |
600 |
1000 |
800 |
700 |
I |
800 |
700 |
600 |
700 |
600 |
500 |
800 |
700 |
600 |
State |
Pune & Mumbai |
Rest Of MH |
MP/Chattisgarh |
||||||
Category of Cities |
|||||||||
Grade |
A |
B |
C |
A |
B |
C |
A |
B |
C |
IV |
1800 |
1500 |
1200 |
1800 |
1500 |
1200 |
1500 |
1200 |
1000 |
III |
1400 |
1200 |
1000 |
1400 |
1200 |
1000 |
1200 |
1000 |
800 |
II |
1000 |
800 |
700 |
1000 |
800 |
700 |
800 |
700 |
600 |
I |
800 |
700 |
600 |
800 |
700 |
600 |
500 |
500 |
500 |
State |
Bihar/ West Bengal |
Punjab |
Orissa |
||||||
Category of Cities |
|||||||||
Grade |
A |
B |
C |
A |
B |
C |
A |
B |
C |
IV |
1800 |
1500 |
1200 |
1800 |
1500 |
1200 |
1500 |
1200 |
1000 |
III |
1400 |
1200 |
1000 |
1400 |
1200 |
1000 |
1200 |
1000 |
800 |
II |
1000 |
800 |
700 |
1000 |
800 |
700 |
800 |
700 |
600 |
I |
800 |
700 |
600 |
800 |
700 |
600 |
500 |
500 |
500 |
Note: The entitlements shown above are inclusive of all taxes and discounts.
A Class Cities:
Ahmedabad, Bangalore, Chennai, Gurgaon, Hyderabad, Kolkata, Mumbai, New Delhi, Noida, Pune,
B Class Cities:
All other state capitals and Agra, Allahabad, Aligarh, Aurangabad, Agartala, Amritsar, Amarawati, Ambala, Bareilly, Bellary, Belgaum, Bhopal, Bhubaneswar, Chandigarh, Coimbatore, Cochin, Davanegere, Dehradun, Ghaziabad, Gorakhpur, Guwahati, Gulbarga, Goa, Gangtok, Haldwani, Haridwar, Kanpur, Moradabad, Nainital, Pondichery Rohtak, Indore, Jaipur, Kholapur, Kota, Jalandhar, Jamshedpur, Jamangar, Jammu, Jodhpur, Ludhiana, Mysore, Nasik Nagpur, Patna, Raipur, Ranchi, Sholapur, Salem, Surat, Srinagar(J&K), Siliguri, Shillong, Surat, Thane, Thiruchirapalli, Trivandrum, Udaipur, Vijayawada, Visakhapatnam, Varanasi, Vadodara, Vellore.
C Class Cities:
Cities other than those mentioned above.
Daily Allowance on Tour
Grade I |
Grade II |
Grade III |
Grade IV |
150 |
200 |
250 |
350 |
* Employees are eligible for Daily Allowance only in case of work at outstation & can claim as above.
* Mislleneous expenses like washing, stationary etc can be charged as per actual.
Mobile Reimbursement:
Mobiles reimbursement is given to staff only for official communication.
Staff has to procure their own hand sets in case of any CUG SIM cards along with company numbers with corporate plan have been issued to any employee.
All personal calls must be deducted from the total.
The permitted amounts of mobiles allowance are:
Employee Grade |
Permitted Limit per month |
1 |
500 |
2 |
750 |
3 |
Actual (CUG) |
4 |
Actual (CUG) |
Note:
Claims will be processed for every 15 days.
Bill date should not be older than one Month.
Original Bills need to be submitted, Xerox copies etc will not be accepted.
Immediate reporting authority need to Approve the Claims.
Staff found guilty of any unethical practices will be dealt seriously.
Submitted for approval.
__________________________
(Managing Director)
Categories: Uncategorized Tags: Travel & DA Policy
Employee Company Car Sample Policy
I have attached Employee Company Car Sample Policy.
Company Car Policy
1. Objective
The new Company Car Policy has been formulated in order to introduce an employee friendly and easy to administer car scheme in the company with effect from April 1, 2006. With the introduction of this scheme all previous car schemes stand withdrawn.
- 2. Scope
Employees in Grade M1 and above are entitled to participate in this scheme. These employees have been assigned Management Allowance / Car Kitty as part of their remuneration package. Their Management Allowance / Annual Car Kitty amount is given in the table included herein below.
(A) Grade |
(B) Car Kitty Amt (p.a.)* Rs. |
(C) Mgmt. Allow. (p.m.) Rs. |
(D) Addnl. Car Kitty(p.a.)* Rs. |
(E) Max. Car Kitty Amt (p.a.)* Rs. |
M5 |
240,000 |
20,000 |
60,000 |
300,000 |
M4 |
195,000 |
16,250 |
45,000 |
240,000 |
M3 |
150,000 |
12,500 |
45,000 |
195,000 |
M2 |
105,000 |
8,750 |
45,000 |
150,000 |
M1 |
75,000 |
6,250 |
30,000 |
105,000 |
In the case of employees joining the Company Car Scheme post July 1, 2006, actual Car Kitty amount shall be net of Fringe Benefit Tax (FBT) as applicable.
- 3. General
3.1. Under this scheme eligible employee can avail of a leased car for both official duties as well as personal use. For this purpose, the company has entered into an agreement with a lease finance company. The details of the same have been provided in the Annexure I.
3.2. Eligible employees would be entitled to a car with a per annum cap on lease rent equivalent to their annual car kitty entitlement included in their remuneration package.
3.3. Employees can select any car of their choice within their lease rent entitlement limit.
3.4. Full finance is available without any margin money requirement. The amount that can be rentalized includes the following:
3.4.1. Ex-Showroom Cost of the car
3.4.2. Registration Fees
3.4.3. Insurance
3.4.4. Cost of Accessories
3.4.5. Octroi and other taxes.
However, the minimum amount that would need to be rentalized is the Ex-Showroom cost of the vehicle.
3.5. In case accessories are bought from some other dealer, the VAT Invoice from that dealer will be required.
3.6. At the end of the Lease Term, the car will be returned to the leasing company.
- 4. Standard Operating Procedure:
4.1. The process starts with the employee getting an “In principle” approval of his/her respective HOD vide e-mail on a model that falls within his/her car kitty entitlement limit.
4.2. Employee negotiates with the dealer to get the best deal possible and gets a formal quotation in the form of Proforma Invoice.
4.3. Employee then submits to the Admin Department. an application for joining the company car scheme in the prescribed format as per Annexure II enclosing the Proforma Invoice and the e-mail approval from HOD.
4.4. Employee also executes an Undertaking on Rs. 20 Stamp Paper (refer Annexure III) and submits the same to Admin Department.
4.5. Admin gets the approvals from Finance on the Application Letter and retains the original Application Letter and Proforma Invoice for their records.
4.6. Admin intimates the Lease Finance Company vide Authorization Letter as per Annexure IV enclosing a copy of Proforma Invoice.
4.7. The Lease Finance Company then sends the following to the Admin Department.:
4.7.1. Cheque in the name of the Dealer
4.7.2. Covering Letter to the Dealer
4.7.3. Letter for Endorsement to the RTO
4.7.4. Form 20 for signature of Authorized Signatory
4.8. Commencement date for the lease period under the scheme shall be the date on which cheque is drawn in favor of the dealer by the Lease Finance Company.
4.9. Admin gets the required signature on Form 20. Admin hand over the following to the employee to take the delivery of the car:
4.9.1. Cheque in the name of the Dealer
4.9.2. Covering Letter to the Dealer
4.9.3. Letter for Endorsement to the RTO
4.9.4. Form 20 with approval from Authorized Signatory (CFO)
4.9.5. Copy of ABC’s PAN Card
4.9.6. Company’s Address Proof
4.9.7. Letter of Authority to take the delivery of the car (Refer Annexure V).
Admin retains a copy of all the above documents.
4.10. Based on these documents employee can take delivery of the car.
4.11. On receiving the delivery of the car, the employee needs to forward the following docs to the Admin Department.
4.11.1. Original Invoice
4.11.2. Copy of Insurance Cover Note
4.11.3. Copy of R C Book
4.11.4. Copy of Insurance Policy
4.12. Admin Department retains a copy of all the above documents and sends the Original Invoice and copy of the other three docs to the Lease Finance Company.
4.13. The Lease Finance Company then sends the following to the Admin Department:
4.13.1. Lease Agreement drawn in triplicate (One Original and two copies).
4.13.2. First Debit note
4.14. Admin takes required signatures on the Lease Agreements, sends original to Lease Finance Company, handover one copy to employee and retains the other copy for their records.
4.15. Admin then intimates the payment schedule included in the Agreement to the HR Department and forwards the First Debit Note to the Accounts Department. for making payment to the Lease Finance Company
4.16. On receiving the Payment Schedule, the HR Department provides the necessary inputs to the Payrolls Department vide the monthly salary input.
4.17. Second year onwards, the employee gets the insurance done himself, retains the original insurance policy and submits two copies of it to Admin Department. Admin Department retains a copy and sends a copy to Lease Finance Company
4.18. The Lease Finance Company will raise a single rental bill by 20th of every month reflecting all the on-going agreements and sends it to the Admin Department who will forward the same to Accounts Department for payments.
- 5. Maintenance / Repairs / Normal Running / Insurance
The employee will be required to maintain the Car in good condition & incur all running costs including costs of fuel, spares, tubes, tyres, repairs, maintenance, servicing etc., as required from time to time.
As stated above, the employee will also bear the insurance cost 2nd year onwards.
All these expenditures can be claimed against reimbursement entitlement included as part of the compensation package.
- 6. Foreclosure:
6.1. Premature exiting from the car scheme by returning the car at any point of time has been provided for under the scheme. However, where premature exit from the scheme is not at the behest of the company, the foreclosure charges / expenses shall be borne by the employee in totality. Instances of premature exit not at the behest of the company are foreseen as, but not limited to the following:
6.1.1. Resignations
6.1.2. Retirements (including Voluntary Early Retirement)
6.1.3. Personal Reasons
6.1.4. Dismissals from service will be treated on the same footing as cases, which are not at the behest of the Company.
6.2. The working of the foreclosure charges would be as agreed with the Lease Finance Company. The details of the same are in Annexure I.
6.3. In case the employee is joining a new organization, there is a possibility of assigning the car to the new organization by the Lease Finance Company. This will need to be mutually decided by the Lease Finance Company and the concerned employee’s new organization.
- 7. Promotions
If the employee’s car kitty entitlement changes due to promotion, the difference between the new monthly car kitty entitlement and monthly car lease rent would be added to his/her Personal allowance and paid out with salary on monthly basis. This would be treated as income and taxed accordingly.
- 8. Transfers
In case of inter-location transfers, within the company, the leasing company will organize all the necessary formalities. The concerned employee will be required to contact the Administration Department at HO to initiate necessary processes.
In case of transfers to a subsidiary / affiliate / sister company, the car can be assigned to the new company wherever the new company also has an agreement with the said Lease Finance Company.
The transfer charges will be borne by the company if the transfer is company initiated and by the employee if the transfer is employee initiated.
- 9. Rejoining the Car Scheme
On completion of the tenure and on returning of the car to the Leasing Company, the employee will be entitled to rejoin the car scheme immediately thereafter.
10. Overall Co-ordination/Clarification/Suggestions
10.1. Car Scheme will be co-ordinated on an all India bases by the Administration Department in Head Office. The department shall maintain an MIS pertaining to the scheme.
10.2. All clarifications with regard to the scheme can be obtained from Administration Department.
10.3. All suggestions for improvement of the scheme should be addressed to the Administration Department.
ANNEXURE I
- The company has entered into an agreement with M/s Sundaram Finance Ltd., a Lease Finance Company to make available a leased car to the eligible employees of the company.
- Employee has an option to choose tenure ranging from 3 yrs to 5 yrs. Current Lease rentals for the same are indicated in the table below:
Tenure |
Resale Value |
Rental per lac per month (plpm)* |
3 Yrs |
25 % |
Rs 2705 |
4 Yrs |
20 % |
Rs 2230 |
5 Yrs |
15 % |
Rs 1930 |
* Please contact the Admin Department. for the latest Lease Rentals applicable.
- The above rentals are based on the current SBI PLR. There could be a variation in the rentals due to variation in any of the following:
- SBI PLR ( In this regard please note that, there has been no increase in this benchmark interest rate in the past 5 Yrs)
- Change in the Corporate Taxes / Depreciation Rates as prescribed in the Union Budget
Kindly refer to the variation tables included herein below:
3.1. Given below is the variation table for the 3 year option:
Tenure : 3 years
Rent (per month per lac) : Rs.2,705/-
Pattern of payment : Monthly in advance
Change taking place at the Quantum of change in rent per month
end of the month per lac for 0.5% p.a. change in cost of funds
Rs.
0 27
6 25
12 23
18 21
24 19
3.2. Given below is the variation table for the 4 year option:
Tenure : 4 years
Rent (per month per lac) : Rs.2,230/-
Pattern of payment : Monthly in advance
Change taking place at the Quantum of change in rent per month
end of the month per lac for 0.5% p.a. change in cost of funds
Rs.
0 26
6 23
12 21
18 19
24 17
30 15
36 13
3.3. Given below is the variation table for the 5 year option:
Tenure : 5 years
Rent (per month per lac) : Rs.1,930/-
Pattern of payment : Monthly in advance
Change taking place at the Quantum of change in rent per month
end of the month per lac for 0.5% p.a. change in cost of funds
Rs.
0 26
6 24
12 22
18 20
24 18
30 16
36 15
42 14
48 13
3.4. The quantum of change in rentals indicated above is for every half percentage point change in the cost of funds to the lessor keeping the other parameters of the lease at the present level.
3.5. In the 3 year option, the variation in rental for any 0.5% p.a. change taking place after the 24th month shall remain Rs.19/- per month per lac till the end of the lease period.
3.6. In the 4 year option, the variation in rental for any 0.5% p.a. change taking place after the 36th month shall remain Rs.13/- per month per lac till the end of the lease period.
3.7. In the 5 year option, the variation in rental for any 0.5% p.a. change taking place after the 48th month shall remain Rs.13/- per month per lac till the end of the lease period.
3.8. Any change in cost of funds to the lessor taking place between two periods indicated in the table above will entail change in rentals to the extent of change in rentals indicated at the beginning or at the end of the said periods or any magnitude falling in between depending on the exact point in time the change takes place.
3.9. The magnitude of change in rentals indicated above shall be applicable from the immediate rental next falling due and shall be applicable on all the future instalments of the rentals.
- Stamp Duty
4.1. Stamp Duty cost is also applicable on the Lease Rent Agreement. This amount varies as per the rates applicable from state to state.
4.2. The current Stamp Duty rates in various states are listed below:
Orissa | Rs.10/- |
Tamilnadu | Rs.20/- |
Kerala | Rs.50/- |
Karnataka | 1% of average annual rentals |
Andhra Pradesh | Rs.100/- |
Maharashtra | 1% of average annual rentals |
Gujarat | 2% of average annual rentals |
Delhi | Rs.50/- |
Madhya Pradesh | Rs.50/- |
Uttar Pradesh | Rs.50/- |
West Bengal | Rs.20/- |
Haryana | Rs.20/- |
Goa | Rs.20/- |
Pondicherry | Rs.20/- |
4.3. The same will be recovered from the employee’s salary on receiving delivery of the car.
- Once lease rentals exceed the car cost, 12.5% VAT will be applicable on the lease rentals and EMI would be enhanced to that effect
5.1. Second year onwards, Insurance will be done by the employee. In case the employee opts for insurance cover by Royal Sundaram or Oriental, the Sundaram Finance can take care of renewals, but the cost has to be borne by the employee.
- 6. Foreclosure
6.1. In case of foreclosure, value would be arrived at by discounting the balance rentals and the resale value considered in the package. The discount factor would be the prevailing SBI-PLR (Current PLR is 10.25% p.a.)
6.2. However, if the leasing company obtains the sale proceeds of the vehicle, the employee will be liable to pay only to the extent the net sale proceeds are less than the foreclosure charges.
ANNEXURE II
Application to join Company Car Scheme
Name: _____________________ Department: _________________
Designation: ________________ E-Mail Id: ___________________ _
Mobile No: __________________ Date: ________________________
To,
The Administration Department.
Kind Attn: Mr. R K Attal
Sub: Request for a car under Company Car Lease Scheme
Dear Sir,
I request you to provide me a car as per the following details. I have read the rules governing the scheme and agree to abide by the same and amendments, if any, to the same.
Yours faithfully,
Name and Signature of the employee
DETAILS OF CAR | |||
Car Make/ Model | |||
Car Kitty Eligibility per annum | |||
Desired Date of Delivery | |||
Option | ¨ Option 1 | ¨ Option 2 | ¨ Option 3 |
Tenure /Resale Value | 3 Yrs / 25% | 4 Yrs / 20% | 5 Yrs / 15% |
Current Lease Rental plpm (A) | |||
Heads | Cost | To be Rentalized (Y/N) | Cost to be Rentalized |
Ex-Showroom Cost of Car | |||
Insurance | |||
Registration | |||
Octroi / Other Taxes | |||
Cost of Accessories | |||
Total Cost to be Rentalized (B) | |||
Monthly Lease Rental [(A*B)/100,000] |
|
|
Copy of e-mail having HOD’s approval attached herewith
Manager-Admin CFO
ANNEXURE III
(To Be Executed on Rs. 20/- Stamp Paper)
UNDERTAKING
Name of the Employee : __________________ _____
Residential Address : _______________________
_______________________
_______________________
_______________________
ABC India Ltd.
Attn: Mr. R.K.Attal
Plot No. 5, Off BKC Road,
Off CST Road,
Santacruz (E), Mumbai – 98
Date:
Dear Sir,
Car Scheme
In consideration of your having admitted me to the company’s car scheme and provided me with car ( No.,________________ Make __________________ ) hereinafter called “the car” with effect from ______________ on the terms and conditions of the said scheme, I undertake to the Company as follows :-
1) I have read all terms and conditions of the scheme and I agree to, accept and abide by all the terms and conditions laid down by the Company in the Car Scheme and amendment if any, thereof.
2) The car is registered in the name of the Company, but shall remain the property of the Leasing Company.
3) In case of any dispute, which may arise between the Company and me, the Leasing Company will have the right to re-posses the car any time during the leasing period.
4) I shall use the car only for my personal and official use. I shall not put the car to use on hire or reward and shall not use the car for any unlawful purpose.
5) In case of my separation from the Company for any reason whatsoever including resignation, retirement, VRS, dismissal, etc., I hereby agree to bear the foreclosure charges and hereby authorize the company to adjust the said charges from my terminal dues and in case of shortfall if any I shall forthwith make good the same to the Company.
6) Not withstanding the aforesaid, I / my legal heirs shall be personally liable to pay to the Company all amounts due from me under this scheme and to pay the same to you on demand and without demur and notwithstanding any dispute/ difference that may be subsisting between me/ my legal heirs and the Company.
7) The agreement shall bind in all respect heirs executors legal representatives and myself. I further agree that the Company shall have the same rights against my heirs, executors and legal representatives, as it has against me under this agreement.
8) I understand that on execution of this Undertaking, monthly pay out to me out of my annual car kitty entitlement will stop.
9) I had been given two salary structures viz. “With Car” and “Without Car” in my initial offer letter / at the time of my salary review. I understand that once I join this scheme, the “With Car” structure will come into effect from the month in which the car lease period starts and same shall be applicable during the period that I am part of the scheme.
10) However, in case the monthly lease rent is less than the one twelfth of the annual car kitty entitlement, the differential amount would be added to the Personal Allowance and paid out to the employee through salary on a monthly basis. The said amount would be taxable.
11) The scheme would be governed by the tax regime as applicable from time to time, and any implications thereof would be to my account.
Yours faithfully,
Signature of the Employee
Name: ___________________________
Place: ___________________________
Date: ___________________________
Witness: _________________________
Signature________________________
Name: ___________________________
Address: ________________________
__________________________
ANNEXURE IV
Authorization Letter to Lease Finance Company to make the payment to the dealer
Date:
Sundaram Finance Limited
95, 9th Floor,
Maker Chambers III,
Nariman Point,
Mumbai – 400 021
Subject: Car for <Employee Name>
Dear Sir,
With reference to our leasing arrangement for cars, please find enclosed the proforma invoice dated ___________ raised by <Dealer’s Name>, amounting to ______________. The terms of the transactions are as follows:
Nature of Asset :
Cost of Asset :
Lease Tenure :
Lease Rentals :
Lease Management Fee :
You are requested to arrange for the insurance, which may also be capitalized.
You are requested to issue a cheque favoring <Name of Dealer> payable at <Location> for Rs ___________ and also forward the necessary documents for registration of the vehicle.
Thanking you,
For ABC (India) Ltd.
Authorized Signatory
ANNEXURE V
Letter of Authority to take the delivery of Car
Date: ____________
To,
Dealer’s Name
Address
Reg: Supply of one _______ Car leased to us by M/s Sundaram Finance Limited
Ref: Your proforma invoice dated ___________
Dear Sir/ Madam,
We hereby authorize <Employee’s Name & Designation> of M/s ABC (India) Limited, whose signature is attested below, to collect the ______________ Model which is leased out to us by < Name of Lease Finance Co.>.
All documents signed by <Employee’s Name & Designation> in this regard shall be binding on the Company.
…………………………………..(Signature of authorized representative)
For ABC (INDIA) LTD.,
CFO
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