Business Mentor, Consultant And Trainer
PRABHAT RANJAN MOHANTY
Hr & Ir
This loophole needs to be plugged immediately.
Lay down a policy for employee purchases- rate, number of items etc.
Have a policy of prepaid purchases only.
Pre paid purchase policy is the best.
5th April 2018 From India, Pune
I worked in a reputed company and the Employee Purchase Program there was well designed which shows maximum number of products or value that employee can purchase in an year.
Further, the employees should purchase the product at original cost and can claim the discount by submitting the original bills say once in an year.
You can follow this approach and please mention the maximum product units that employees can purchase and you can do the discount reimbursement on quarterly or half-yearly basis also.
Further, in your current setup if employee leaves any outstanding amount needs to be paid by the employee or deducted from final F&F.
Please fix this with immediate effect.
5th April 2018 From India, Bengaluru
The problems of this kind arise because it appears that you do not have policy on purchase of the company material by the employees.
Companies do sell various types of materials to the employees. It could be second hand sale or sale of obsolete items or sale of the products that they sell to the customers. In any case, the following scenarios emerge:
a) Employee purchases an item. The person who issues that item, makes a cash memo and gives it to the employee. Later employees goes to the accounts section and makes the immediate payment, then matter closes there. On receipt of the payment, Accounts Department makes the Gate Pass mentioning that payment has been made.
b) Employee purchases an item. The person who issues that item, makes a cash memo and gives it to the employee. Later employees goes to the accounts section and tells that he/she wishes the amount to be deducted through his/her salary. In such case, Accounts Departments prepares Debit Note in three copies. Original goes to the HR Department so that they can deduct the amount from the monthly salary, second copy is attached to the Gate Pass and the third copy is retained at their office.
If you follow the above procedure, there is no question of recovery of the amount. To avoid future hassles, many companies sell the items only with on-spot payment i.e. employee is forced to follow option (a) above.
Hope this settles your query.
5th April 2018 From India, Bangalore
You can facilitate discount on cash purchase on product would be a best option to follow. Decide a system accordinglt that suits to your establishment and your easiness.
6th April 2018 From India, Mumbai