How Do You Calculate Fair Reimbursement Rates for Petrol with Fluctuating Prices?

hemant0909
Dear All,

I work for a research company where a lot of staff are entitled to reimbursement for conveyance based on the kilometers run. Considering the frequent changes in petrol prices, we need to revise the reimbursement rates as well. I kindly request all of you to share some formulas or methods on how to calculate the correct reimbursement rate per kilometer for two-wheelers and four-wheelers.

Thanks,
Hemant
maheshb
Hi,

In our company, we are paying 2.75/- per km for 2-wheelers and 5/- Rs for 4-wheelers, excluding their lunch fare. Please finalize based on your policies.

Mahesh
vijaybabu64
We have fixed some reimbursements including the salary (i.e., Petrol, Telephone, Entertainment, and Driver salary). At the end of the year, those who submit the bills will receive tax exemptions up to the maximum limit fixed in their salary.
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