Clarification on ITT Policy
What is the meaning of ITT Policy? While designing a policy, you should not use any abbreviations. You could have given the title of the policy as "Policy on Allotment of Company Assets." Secondly, you should have only one policy for any type of company asset, be it a car, laptop, or pen drive.
In my previous post, I had given a link to my past comments. When I compared your policy document and my comments, I found that you have not covered the following points:
- Who is authorized to allot the company's asset?
- What details of the asset transfer will be recorded, and where will this document be preserved? You have mentioned this point, but the sample format of a loan card is not included.
- Duties and responsibilities of the asset owner. These will vary from asset to asset. Include points related to the theft of the company property as well.
- Renewal of the records and at what frequency. Not mentioned.
- Who will pay for the insurance of the assets?
- Recovery of the company property in case of the death of an employee.
- Liabilities in case of misuse of company property.
- Direct transfer of company property to another employee - whether permitted or not.
- Usage of company property by the near and dear ones or family members of the employee.
- Usage of company property by other company employees.
- What is the life period of the particular company asset, and what would be the depreciation percentage every year (as applicable)?
- What is to be done with worn-out company property, and where it should be deposited?
Regards,
Dinesh V Divekar