Need a Sample Car Policy Covering Eligibility, Gas Reimbursement, and More – Can You Help?

Hi, I need a sample of a car policy that includes procedures for eligibility, reimbursement of gas, maintenance, foreclosure, etc. Please post a copy of the sample if you have one.

Thanks,
Akruti

Hi,

The company car policy is crafted based on the financial position of the company. I have come across many such policies, the gist of them is as follows:

Eligibility: Manager & Above (Depends on policy)

Car Model: Maruti Alto (Again depends on your company)

Insurance: Borne by the company.

Driver: Company provided/Cash option @ Rs 2500/-pm (Depending on location)

Payout: Company will pay 60% of the cost and transfer the car to the individual's name.

Payout: Remaining - Individual will pay the remaining 40% after completion of 5 years in equal installments over 5 years.

Separation: Entire amount to be recovered.

Other policies: The company will maintain cars, insurance, etc., and provide fuel (Coupons from a fixed petrol pump), calculate the distance from home to the office, determine total kilometers, determine total working days, provide a driver, issue fuel coupons, and pay the bills. This will include breakdowns, accidents, and any other situations. Whichever car is available with the company will be given, mileage to be checked for the issue of fuel coupons.

I hope this will give you a clear understanding of the company car policy.

Regards,

Exserg

Thank you for posting your suggestions. These suggestions and samples are definitely of great help. If you have any other HR policies drafted for your company, please forward them to me as I am formulating various HR policies for my company. Thank you once again.

Akruti

PS: You can email me a copy of the HR policy manual, if any, at shah.akruti@gmail.com

Hi,

Could you please send me the application form for the new employee joining the organization?

Best regards,
ANIL KULKARNI

What are the FBT implications for the new notification from the IT department issued in December 2009? How is the Transfer of Movable Asset calculated in this case?

In my company, we have a CAR policy. Now, as per the new notification, any asset transferred after April 1, 2009, requires the company to recover tax on the depreciated value of the CAR less the amount paid by the employee. In this case, how will the EMI deducted from the employee's salary be taken care of?