Posts tagged "Policy"

Employee Leave Calculator and Annual Leave Policy

I have made an excel sheet to know Earned Leave,Sick Leave and Casual Leave also attached annual leave policy guidelines and procedure.

FOR STAFF MEMBERS

 

1.   All the categories of staff members (Below Sr. Officer cadre) (i.e., Trainees, Probationers, Confirmed

      and Contract employees) are eligible for eighteen days of privilege leave (paid leave) in a year.

 

2.   If any employee joins in the middle of the year he / she will be eligible for privilege leave on Pro rata

      basis.

 

3.   The employees should intimate the leave well in advance (atleast two days prior taking leave) and get

      it sanctioned in the leave card from the department head / Reporting authority and the same has to be

      Submitted to the Time office.

 

4.   Balance of leave, if any, at the end of the year will be carry forwarded to the next year up to maximum    

      30days.

 

5.   In case of Resignation / Termination / Superannuation the balance leave, if any, will be reimbursed on

Prorate basis (Up to maximum of 30days).

 

6. If the employee proceeds ‘on leave ’due to unavoidable reasons in the middle of the shift or before the end

    of the shift, it will be treated as half a day leave. 

Sr.OFFICERS & ABOVE GRADE

 

1.   All the categories of staff members (ie., Trainees, Probationers, Confirmed and Contract employees) are

      eligible for  twenty two days of privilege leave (paid leave) in a year.

 

2.   If an employee joins in the middle of the year he / she will be eligible for privilege leave on Pro rata

      basis.

 

3.   Leave cards will be issued to the employees.

 

4.   An employee should intimate the leave well in advance (atleast two days prior taking leave) and get

      it sanctioned from the  Reporting authority in the leave card and the same has to be  submitted to the

      Time  office.

 

5.   Balance of leave, if any, at the end of the year will be carry forwarded to the next year. Balance leave can

      be  forwarded up to a maximum of 30 days.

 

6. In case of Resignation / Termination / Superannuation, the balance leave if any will be reimbursed on 

    Prorate basis (Up to maximum of 30days).

 

7. If the employee proceeds ‘on leave ’due to unavoidable reasons in the middle of the shift or before the end

    of the shift, it will be treated as half a day leave. 

Click here to download automatic leave calculator

Click here to download leave policy

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Posted by Hrformats - June 14, 2013 at 2:41 PM

Categories: HR   Tags: , , , ,

Employee Cash Advance Policy

Kindly refer on this but personalize it based on your company’s standing and employee mortality.

CASH ADVANCE POLICY

  • Employees with at least three (3) months tenure and has a Probationary Contract with the company are allowed to avail with the CASH ADVANCE POLICY. Training Period is not counted.

 

  • Trainees , Contractual and Project-based employees are not eligible of this policy.

 

  • CASH ADVANCE REQUEST can only be made if:
    • Cash needed is not available at the time of the need
    • Cash needed is for emergency matters
      • Hospital/Medical Assistance
      • Educational Assistance
      • Debt/Loan Assistance
      • Any emergency reason with detrimental effect to the requesting employee

 

  • The Employment status shall affect the amount allowable for cash advance.
    • Probationary Employees are allowed to have a maximum of

PhP 6,000.00.

  • Regular Employees are allowed to have a maximum of

PhP 10,000.00.

 

  • The eligible requesting employee/s should email the Site Director for approval 2-3 days prior.

 

  • 2-3 days after receipt of cash advance, the eligible requesting employee should furnish a Cash Advance Liquidation Form  to the Accounting and Admin Executive.

 

 Click Here To Download Cash Advance policy

 

 

 

 

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Posted by Hrformats - October 4, 2012 at 11:41 AM

Categories: HR   Tags: , ,

Employee Recognition Programs in Indian Companies

Here are the various company recognitions policies of Indian companies.

 

EMPLOYEE RECOGNITION PROGRAMS IN PRACTICE

 

  • Wipro has a unique package called Encore, which is essentially a basket of non-monetary rewards given to motivate employees and recognize excellent work performance. For example, award Feather-in-My-Cap, is an on-the-spot recognition of an effort awarded to a project or project team; Dear Boss recognizes the positives of a good boss, including technical, managerial, and leadership skills. Awards like Mastermind, which notes the most innovation solution or idea in Wipro and The Wipro Hall of Fame recognizes superlative performers in different roles as well as superlative team performances.

 

  • In NIIT, there is a practice of naming a conference room or office or training room after the name of the most outstanding employee of the year. The naming is done ceremoniously, the employee family is invited, a cake is ordered; and all the employees assemble for the felicitation.

 

  • At Federal Express, rated one of the best work workplaces, employee can get one of FedEx 500 aero-planes named after his / her child. RPG managers give certificates to employees to facilitate small achievements and the good work done by them.

 

  • Two of the most popular methods of recognizing employees are by giving gift certificates and cash rewards. The most common reasons for giving an award are length of service and exceptional performance.

 

  • In 1998, Price-water House had a Thank You Store for employees to select gifts and thank you cards for supervisors, managers, and office assistants.

 

  • Johnson & Johnson has peer-to-peer recognition programs, where employees submit nominations on behalf of other employees, teams or oneself. All nominations are reviewed for a Merit Award and all Merit Awards are reviewed for the Chairman Award.

 

  • The Eureka Award at HCL Comnet is for the entrepreneurs who come up with the best business idea. The Value Creator Award is the most coveted and sought after among the awards given in appreciation of extraordinary individual initiative and innovation.

 

  • Gotcha recognizes top performers and ranks them on merit. Special vacation packages are given to employees who excel in their targets.

 

  • Eicher uses a mix of monetary and non-monetary rewards. The financial package helps in sustenance and basic needs fulfillment. The non-financial part helps in recognition and fulfillment of higher order needs. In the non-financial part, Eicher offers perks like study leave, trips, special training, challenging project opportunities, and flexible timings based on individual need.

 

  • In India many companies like Larsen & Toubro, HLL, P&G, Century Enka and others encourage suggestion from employees on cost savings, energy conservation or quality improvement or increase in sales. The suggestions are periodically reviewed and few employees may get one time cash rewards based on he quantum of savings their suggestions can generate. This cash rewards system on suggestions is mostly up to junior management level.

 

  • Some companies allow executives to make their own mix of salary packages.

 

  • In the year 2000, HICOM introduced three awards for employees who were nominated as ˜best leader, ˜best motivator, and best employee. In the same year, the company also introduced the new idea of appreciating subordinates through flower-shaped cards. In addition, the HR department put a big wallboard titled ˜initiatives.com, which was filled with information on the initiatives taken by the employees in the workplace and the appreciation of their initiatives. The management as a policy honors an employee who completes five years of services in HICOM with a gold plated appreciation plaque.

 

  • The Taj group has patented a unique employee identification tracking and reward programme branded the Star – Special Thanks and Recognition System. It’s an HR initiative aimed at creating an association ‘between our star performers and the Taj. These stars are not the statesmen or tinsel town glitterati who grace the environs of the Group’s hotels, but to the organization they are just as important.
  • The Star campaign offers no cash awards. Recognition comes in the form of levels. Points can be picked up by employees for integrity, respect and regard for others, teamwork, environmental awareness, reliability, outstanding work, courage of conviction and initiative. Practical and useful suggestions that are beneficial to the company can also earn an employee points. Many employees do that extra bit, go out of the way to dazzle the customer satisfaction with employee recognition. It is based on the premise that happy employees lead to happy customers.” However, while employees can earn merit points for acts of excellence or valuable suggestions, one can also earn 20 “default merit” points if the review committee (comprising the GM, training manager and all heads) fails to revert within 48 hours on a suggestion made.
  • Star has five recognition levels. Level 1 or the Silver grade requires an employee to earn 120 points in three months, level 2 or the Gold grade can be reached with 130 points within three months of reaching the Silver level. Level three or the Platinum grade requires an employee to accumulate 250 points within six months of reaching the Gold level. The highest grade at the corporate level is the MD’s Club (at 760 points), below which at 510 points and above, an employee can be part of the Chief Operating Officer’s club. “After the campaign was launched, a large number of employees have started working together in the true spirit of teams

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Posted by Hrformats - September 29, 2012 at 6:25 AM

Categories: HR   Tags: , , ,

Human Resource Development Department Policy on Two Wheeler

I have attached Human Resource Development Department sample policy on two wheeler for a company.

NAME OF COMPANY

CHENNAI

 

CORPORATE HUMAN RESOURCE DEVELOPMENT DEPARTMENT

POLICY ON TWO WHEELER   

 

HRD/HRP/002                                                                     01/08/2006

 

 

  1. 1.     Objective

 

To administer and provide guidelines to employees on purchase of two wheelers.

 

  1. 2.     Scope and coverage

 

All employees i.e. probationers and permanent nature and also the employees at branches are covered under this policy, as detailed below:

 

a)     All employees in the grade M* and above are eligible to apply for two wheeler.

  1. 3.     Applicability

 

This policy will apply to the existing employees and employees who may be joining or elevated in the above grades / levels, in future.

 

  1. 4.      Eligibility

 

Sl.

No

Grade

Vehicle Model

Mumbai

(Rs.)

Other than Mumbai

1.

M* and M1 Hero Honda Splendour+

47,000/-

42,000/-

2.

M2 and M3 Hero Honda Splendour+

52,000/-

47,000/-

 

Registration charges at Mumbai is 3 times more than any other locations when vehicles registered in company’s name.

 

* The eligibility prescribed above, is inclusive of all charges viz., vehicle cost, registration charges, road tax, Insurance, etc.   Extra fittings, if any, have to be borne by the employee only.

 

  1. 5.     Procedure

 

a)     The eligible employees can submit the proforma invoice along with requisition, the model, pamphlets/ brochure to Corporate HRD Department.  HR Department shall initiate and process the same in line with the policy.

 

b)     100% Payment of the total value of the vehicle shall be made by the Company in the name of Dealer only, payable at the respective locations to take possession of the vehicle including the registration charges, road tax payable, insurance applicable, etc.

 

 

 

c)     Employees contribution

 

(i)     M* and M1 Grade:  The cost of 38% of the vehicle has to be borne by the employee, which shall be deducted from his salary / wage in 60 EMIs.

 

(ii)    M2 & M3 Grade: No contribution from the employee

 

d)     An employee can opt for any other model two-wheeler, which may be higher than the maximum eligibility as per the clause 4 above.  In which case, he shall mobilize the extra money from his own source.

 

e)     In case of employee choosing higher model vehicle, consequential difference in registration charges, tax, insurance, etc. also to be borne by the employee.

 

f)       The vehicle shall be registered in the name of company initially and be transferred to the employee on completion of five years.  The registration charges, for transferring the vehicle shall be borne by the employee only.

 

d) The Original RC book, Insurance policy and other credentials shall be with the company and the same can be referred to, in case of any requirement.

g)     In case of employee leaving the company before the block period of 5 years, cost of vehicle to be paid by the employee shall be computed as below:

 

(i)     M* and M1 Grade:  Full value (value means basic price, regn. charges, insurance, etc.)  of the vehicle at the time of purchase (excluding contribution from the employee at the time of purchase, if any).

(ii)   M2 and M3 Grades

 

Sl.

No

Age of vehicle (from date of purchase)

Buy back value (by the employee)

1.

> 4 years and < 5 years

20% of the original value

2.

> 3 Years and < 4 Years

30% of the original value

3.

> 2 Years and < 3 Years

50% of the original value

4.

> 1 Year and < 2 Years

80% of the original value

5.

< year

100% of the original value

 

h)     Value of the vehicle will be computed as detailed above. The value so computed at the time of leaving has to be paid by the employee.  Employees have no option to surrender the vehicle to the company.

 

i)        For the purpose of calculating the years, only the completed years will be taken into account (For ex. if an employee leaves the organization after putting 2 years & 9 months service, only 2 years will be taken into account).

 

 

 

 

j)       The employee will have to sign an undertaking with reference to the above.

 

k)      Periodical service and maintenance charges in the first year and subsequent years, insurance premium from second year onwards, shall be borne by the employee only.  Company may at its interest arrange for insurance and deduct the same from the salary of the employee’s concerned.

 

l)        At the beginning of the 6th year i.e. on completion of the 5th year, he will be eligible to apply for a new vehicle under this scheme.

 

m)    If any employee is elevated to the next level i.e. from M1 to M2 grade, he will fall in line with the procedure as per clause 5 (c) (ii).  Hence he will not be required to pay further EMIs.

 

n)     If an employee is elevated from M3 to M4, he will be allowed to apply for the vehicle which he is eligible for, as per his grade, provided he purchased the two-wheeler as per clause 5 g (ii) above.

 

  • o)     Once the vehicle is allotted, the employee will use the same for all his official purpose and he will not be allowed to use any other vehicle.

 

p)      In case of transfer to any other location, the actual charges incurred (levied by railway authorities) shall be reimbursed to the employee by submitting relevant bills and vouchers.

 

q)      Income Tax liability on account of having the vehicle, if any shall be borne by the employee.

 

  1. 6.     Review and amendment

 

Management shall review this policy periodically and amendments required, if any shall be made accordingly.

 

  1. 7.     Residual Power

 

This policy is a gesture of goodwill and the management reserves the right to withdraw the policy at any time without assigning any reason whatsoever.

 

  1. 8.     Effective

The scheme shall be effectively with effect from 1st August 2006

 

 

 

 

Head-HR                                            Head – Finance                                       CMD

 

 

 

 

 

Johnson Lifts Pvt. Ltd

Chennai

 

 

 

          Date : ______________

 

To: Head – HR

Corporate Office

Chennai

 

 

 

 

Name :                                                          Emp.No

 

Designation:                                                   DOJ     :

 

Grade:                                                           Location:

 

 

 

Sir,

 

 

Sub: Request for Two-wheeler

 

 

As per our company policy, I would like to apply for availing a two wheeler. Enclosed please find proforma invoice and other relevant details of the vehicle, which I intend purchasing.

 

I request you to kindly process the same and arrange / facilitate purchasing the vehicle as per policy.

 

I also send herewith an agreement duly signed for this purpose.

 

 

 

(                                   )

 

 

Encl:  Proforma Invoice

Brochure

 

 

(To be executed on Rs.20/- bond paper)

AGREEMENT

 

I, ___________________________ S/o ________________________ presently residing at _______________________________________________________ ___________________________________ have applied for two wheeler loan as per the company’s two wheeler loan scheme currently in vogue.  I also hereby state that I shall abide by the rules and procedures laid down as per the policy, and agree to the terms conditions as detailed below:

 

  • I will be in the employment for a minimum period of 5 years from the date of purchase of the vehicle

 

  • I hereby authorize the company to deduct the EMIs, if any from my salary as per company’s two wheeler policy.

 

  • In case of my leaving the organization within the stipulated period (as above), I agree to repay the full cost of the vehicle and forego the amount paid towards the dues till such time of leaving.

 

  • I agree that the two-wheeler shall be registered in the name of company initially and will be transferred in my name after completion of 5 years period.

 

  • The company shall pay for comprehensive insurance of the vehicle, tax, etc. only at the time of purchase.

 

  • I also hereby agree to take care of periodical maintenance and subsequent insurance and bear the expenses thereto.

 

  • I shall agree to claim the petrol expenses as per the current practice i.e.

 

Sl.No.

Age of Vehicle

Rate / K.m.

1

Upto 2 Years

1.00

2

> 2Years < 3 Yrs

1.10

3

> 3 yrs < 4yrs

1.40

4

> 4 Yrs < 5 Yrs

1.55

5

Own vehicle after 5 yrs completion

1.70

 

 

 

Signature of Employee                                                       Johnson Lifts Pvt. Ltd

Click Here To Download Two Wheeler Policy

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Posted by Hrformats - September 29, 2012 at 6:18 AM

Categories: HR   Tags: , ,

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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

  1. 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.

  1. 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.

  1. 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.

  1. 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.

  1. 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

  1. 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.
  2. 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.

  1. 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.

  1. 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.

  1. 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.

  1. 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]

 

No

Yes

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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Posted by Hrformats - September 29, 2012 at 6:16 AM

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HR policy annexure

I Have Attached HR policy Annexure

LEAVE APPLICATION FORM

 

 

 

Employee’s Name       :                                                                                            

Designation               :                                                                                            

Department               :                                                Employee Code                     

 

 

 

 

Type of Leave          :                  FULL                                HALF                               SHORT

 

 

                                               ADVANCE

Address & contact no. during leave:                                                                            

                                                                                                                            

 

From:  __________ _____ To: ____________                       No. of leave: __ ________   _

Reason:                                                                                                                 

                                                                                                                            

Officiating Officer’s Name: :  ___________________

Remarks:  ___________________

Signature: ___________________

Date: ___________________

Applicant’s Signature:   ________________

Date: _ ________________

 

 

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Posted by Hrformats - September 26, 2012 at 5:10 AM

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Sample HR Policy Manual

Policies are generally for shift timings & breaks,misconduct,attendance rules, dress code,leaves, statutory obligations,non-disclosure and appraisals to mention a few of them. So you can coordinate with your management and frame rules or guidelines for all such types of policies. I have attached a sample HR policy manual.

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Posted by Hrformats - September 24, 2012 at 4:39 AM

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Compensation Policy

Please find attached compensation policy.

 

VEE J PEE ALUMINIUM FOUNDRY
Compensation Policy

Hours of work

 

  • As an employee, you are expected to work additional hours as when reasonably necessary for the effective performance of your job or as business demands necessitate and it is purely on the approval of the reporting manager/ managing director.
  • For extra working hour prior information should be given. Before TWO Days, Prior information (Written and Sanctioned by concern HOD) note to be submit to HR & Admin Dept.
  • Employee continuing for more than 10 hours after regular duty hours should take next day leave as compensation.
  • If the person works more than 6 hours than the prescribed 8 hours’ work (Regular Duty) Employee is eligible to take leave in the next 6 Working days. Due to circumstances, Dept. HOD is unable to sanction leave within this period. Management rights are subject to give Conditional Approval to take leave within coming Month Only. If not the leave elapses.
  • Compensation should consider on the base of concern HOD Compliance report only. Respective dept. HOD should submit the Compliance Report within next Working Day. ( e.g.- Extra Hour Utilization and its output )
  • For more than 8 hours dinner allowance will be provided from the company (Limit as Defined).

If necessary the mgmt. will convert the extra hours on the wages.

 

– It is HR right to cancel C.OFF and convert in wages form.

 

– Department HOD is responsible to take written approval for the same.

  • If working days go more than the actual working days per month, it would be compensated based on approval of HR and managing director and remuneration would be done end of each month.

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Posted by Hrformats - September 8, 2012 at 5:06 AM

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Policy on Allotment Company Assets

I have attached policy on allotment company assets.

IT

 Policy

Prepared and Approved by:-

HR Department

 

 

 

TABLE OF CONTENTS

 

 

S. No.

Policy Contents

Page No.

1

  Introduction

1

2

Scope

1

3

  Applicability

1

4

  Responsibility

1

5

Rules

1

6

Registering an Asset

1

7

Reporting a Theft

2

8

Return the asset to the Company

2

 

 

 

 

1.       Introduction:-

The purpose of this policy is to facilitate the Employees in their jobs by increasing communication within the organization and outside the Organization. Also, this policy is used to specify the documents that the employee needs to assign while allotting him the assets used for the communication by the company like Laptop, Mobile Handsets, Blackberry Handsets and Data Cards etc.

  1. Scope :-

 

This policy covers the usage of the Company assets (Laptop, Data Cards, Mobile Handsets, Local and STD Dialing on Extension Number and Blackberry Cell phone) by senior staff where the regular use of such asset is necessary or useful to meet the requirements of the job. This includes issuing the asset to the employee that is to be used for official purpose only after the approval of the reporting head.

  1. Applicability:-
  • The CEO.
  • GMs/DGMs/Heads of Departments.
  • Members of staff nominated by any of the above staff members.
  1. Responsibility:-

The preparation of this policy, procedure, forms, letters, and its revision along with justification & obtaining approval from the Management and its implementation and monitoring is the responsibility of HR Department.

  1. Rules:-
  • ·The Company will provide the official Assets (Laptop, Blackberry, Mobile Handsets and Data Cards) to all entitled employees after they have signed an agreement for the Assets and the Assets authorization letter.
  • ·These assets are returnable upon transfer / discontinuation of the services with the company.
  • ·This facility is provided purely for official purpose.
  • ·In case of loss of Company Asset, the employee must inform the company as soon as possible to avoid any misuse of the asset. Detailed instructions in the case of a loss are given in the Assets authorization letter.

 

  1. Registering an Asset:-

 

Every Company asset must have a owner.  Each department that has a company asset must have a sign out sheet indicating that has the company asset, the make, model and Serial number.  This information should be sent to HR department each time there is a change of the owner.

 

 

 

 

Page 1

  1. Reporting a Theft:-

 

If a Company-owned asset is stolen, its owner is expected to immediately file a theft report with all details as to the time, date, location and any other details that you feel is important with HR/Admin Department.  If traveling, the owner must also report the theft to the local law enforcement agency.

  1. Return the asset to the Company:-

An owner must return the asset to the Company before their ending date of employment. HR will provide a list of assets and owners to Admin.  At the meeting with Human Resources and Admin the Assets, keys, and other items will be collected. Separate file needs to be prepared for all the assets issued to the employees and also in the employee file. Failure to turn in the company asset may result in withholding payments such as Full &Final settlement until the asset is returned.

 

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Posted by Hrformats - August 23, 2012 at 5:12 AM

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Personal Protective Equipment (PPE) Policy

I have attached personal protective equipment (PPE) policy.

 


Policy Number: XXX Corporate Policy

Personal Protective Equipment (PPE) Policy

Purpose

To provide a mechanism for identifying and selecting personal protective equipment (PPE) and the information to ensure that it is used and maintained correctly.

Policy Statement

All occupational health and safety hazards must be managed in accordance with the XXX Management Policy. In managing PPE at the workplace, the use of such equipment will be made on the basis of a risk assessment(s), while its selection will be in compliance with the relevant XXX Standard(s).

Scope

All staff and visitors are covered by the requirements of this policy.

Intended outcomes

Properly selected PPE will be used within the XXX to support higher-level workplace hazard controls, or as primary controls against such hazards where found suitable.

Staff, including supervisors and managers, and visitors required to use PPE to prevent exposure to hazards will be instructed/trained in its proper selection, use and care.

Managers, supervisors and staff are required to ensure that protective equipment is properly and diligently used whenever they are exposed to a hazard requiring its use.

Failure to comply with requirements to wear PPE, or properly supervise its use, will be treated as a disciplinary matter.

Instructions

1.   Staff will be protected from workplace hazards by the use of higher level measures such as elimination, substitution, engineering controls, work practices and administrative controls.

When these controls are not feasible or do not provide sufficient protection, an alternative/ supplementary method of protection is to provide staff and visitors with personal protective equipment (PPE).

PPE does not eliminate nor change the hazard to make it safer.

  1. 2.      Locations requiring the use of specific PPE are clearly identified and signposted.
  2. 3.      PPE provided meets or exceeds the specifications of the relevant XXX Standard.

 

Managers and supervisors are to ensure that staff using PPE are properly trained, informed and instructed in its correct selection, care and use.

4. Staff shall use PPE correctly whenever they are exposed to the hazard without misuse or interference. Staff provided with PPE shall care for and maintain it in a serviceable state.

Staff required to use PPE shall be adequately supervised.

Staff who do not use the PPE, or maintain it in a serviceable state, will be removed from the hazard immediately by their supervisor until the required PPE is in place.

5. Staff must cooperate with directions of their supervisor or manager, including the need to use and maintain PPE, to ensure compliance with the requirements of XXX Act and Regulation.

Staff who do not respond to their supervisor’s instructions on the correct use and maintenance of PPE are subject to disciplinary action in accordance with the XXX Discipline Policy at Section 11.1 of the Human Resources Manual.

Supervisors are subject to disciplinary action initiated by their manager if they fail to ensure that prescribed PPE is used diligently by staff, or if the equipment is not maintained to a serviceable and effective level.

Definitions Personal protective equipment (PPE): includes a variety of devices and garments to protect workers from injuries.  PPE is designed to protect � eyes, face, head, ears, feet, hands and arms, and torso. PPE includes such items as � goggles, face shields, safety glasses, hard hats, safety shoes, gloves, high visibility garments, earplugs, and earmuffs.

Additional Information Reference documents:

Refer to Appendix I for a full list of relevant XXX Standards.

Contact details:

Policy and Project Officer XXX,YYY

Effective date:

7 May 2004

Review date:

7 May 2007 Policy replaces:  XXX

 

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Posted by Hrformats - August 16, 2012 at 4:39 AM

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