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Mansa
Your policy and approach seem correct and fair. However you will need to write it in a manner that is easy to understand (which part applies to whom), clear and unambiguous (people know what exactly they are eligible for)
So you probably need to take the help of a senior in the organisation to re word the policy
One point - half day for 6 late days can, if you wish, be made to half day for every 3 days later in a month. Impact on punctuality will be more

From India, Mumbai
One can introduce a scale of late by 10 or 30 min. Any late between 1 to 10 min means the same has to be approved by a superior officer. Max permissible late within 10 min can be set two in a month. Beyond 2, deduct salary for 30 minutes each.
For 11 to 30 min late, first time deduct salary for 1 hours, second late, salary deduction for 2 hours and so on.
Late arrivals will come down.
There are different practices followed by different org. Never give time allowance selectively irrespective of distances, location and mode of transport used by employees.

From India, Karol Bagh
There is a need to clearly define and display policy on late arr and early dep. Late arr and early dep may be permitted for 15 minutes each on two occasions in a month. There after any one coming late should be marked at late by 30 minutes. similarly, 30 minutes late be marked as 1 hour late and one hour late means half day. One loses pay for one day. This is an effective method to control late arr and ealy dep. Other method is total up the time lost and penalize in terms of pay every month by subtracting 30 minutes permitted. I applied this rule into my org and it worked very well.
From India, Karol Bagh

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