Hi,
Company car policy is crafted based on the financial position of the company. I have come across many such policies, gist of them is as follows :-
Elegibility : Manager & Above (Depends on policy)
Car Model : Maruti Alto (Again depends on ur co )
Insurance : Borne by the co.
Driver : Company provided/Cash option @ Rs 2500/-pm (Depending on location)
Pay out : Company will pay 60% of cost, and transfer the car on indvl's name.
Pay out : Remaining - Individual will pay remaining 40% after completion of 5 years in equal instalments of 5 years.
Seperation : Entire amount to be re-covered.
Other policy : Company will maintain cars, insurance etc, and provide fuel (Coupens of a fixed petrol pump), calculate the distance from home to office, determine total kms, determine total working days, provide driver, issue fuel coupens, pay the bills. This will include breakdown, accidents and any other situations. Whichever car is available with company will be given, milage to be checked for issue of fuel coupens.
Hope this will give you clear understanding of company car policy.
Regards,
Exserg