can any one help me to reframe the fuel reimbursement policy for my company , can we reimburse accroding to the designation?
From India, New Delhi
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From India, New Delhi
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I strongly suggest you research the fuel reimbursement policy discussion on citehr. This policy has been under a lot of constraints in the corporate industry due to its nature of being tax-free and now taxable. You, as HR, cannot draft this policy alone. You will need the help of a CA or your Finance Department to frame the rule.
Networking and Benchmarking
On your side as HR, the best thing you can do is network with companies in your business sector and see what they are offering their employees, possibly matching or providing better benefits to retain employees. If you know someone working in a Central Government Office/Semi-Government office, you can also seek inputs from them, as these offices have well-planned rules for fuel expenses based on officer positions and locations.
Below is a helpful resource for you, which will make you rethink how to draft your policy:
VALUATION OF PERQUISITES - MOTOR CAR | SIMPLE TAX INDIA
Hope it's helpful.
Regards,
Ukmitra
From Saudi Arabia, Riyadh
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297Networking and Benchmarking
On your side as HR, the best thing you can do is network with companies in your business sector and see what they are offering their employees, possibly matching or providing better benefits to retain employees. If you know someone working in a Central Government Office/Semi-Government office, you can also seek inputs from them, as these offices have well-planned rules for fuel expenses based on officer positions and locations.
Below is a helpful resource for you, which will make you rethink how to draft your policy:
VALUATION OF PERQUISITES - MOTOR CAR | SIMPLE TAX INDIA
Hope it's helpful.
Regards,
Ukmitra
From Saudi Arabia, Riyadh
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Employee reference policy.doc