Good morning to all, I need help to create a new fuel reimbursement and car policy. Can anyone help by providing a sample copy? Your kind cooperation in this regard will be most helpful.
Thanks and regards,
Fazal
From India, Kochi
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Thanks and regards,
Fazal
From India, Kochi
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I can share with you the fuel and car policy of one MNC, but it is random, varying from organization to organization.
Fuel and Car Policy for Two-Wheelers
For two-wheelers, the employer provides a 50k interest-free loan, which is returned by the employee at 2000/- per 25 installments. Fuel is at 1 liter per 30 KM, including maintenance, and this policy is applicable for Jr. Management Staff.
Fuel and Car Policy for Cars
Employees at higher levels (middle and senior level management) who are eligible for cars are provided interest-free car loans ranging between 2 lakh to 5 lakh, with recovery in 20 to 40 installments at different management levels. Fuel reimbursement ranges from 75 liters to 200 liters, varying based on the management level. Some very senior management staff are also provided with a driver's salary within a specific range. Maintenance and other costs for all are covered within the facilities mentioned.
All employees enjoying the car facility are required to maintain a logbook to differentiate between company-related and personal travel for income tax purposes.
S K Bandyopadhyay (WB, Howrah) CEO - USD HR Solutions
From India, New Delhi
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367Fuel and Car Policy for Two-Wheelers
For two-wheelers, the employer provides a 50k interest-free loan, which is returned by the employee at 2000/- per 25 installments. Fuel is at 1 liter per 30 KM, including maintenance, and this policy is applicable for Jr. Management Staff.
Fuel and Car Policy for Cars
Employees at higher levels (middle and senior level management) who are eligible for cars are provided interest-free car loans ranging between 2 lakh to 5 lakh, with recovery in 20 to 40 installments at different management levels. Fuel reimbursement ranges from 75 liters to 200 liters, varying based on the management level. Some very senior management staff are also provided with a driver's salary within a specific range. Maintenance and other costs for all are covered within the facilities mentioned.
All employees enjoying the car facility are required to maintain a logbook to differentiate between company-related and personal travel for income tax purposes.
S K Bandyopadhyay (WB, Howrah) CEO - USD HR Solutions
From India, New Delhi
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Dear Mr. Fazal, You can set a particular category for car and fuel policy. For example, you can provide a car to AGM and above ranks and allocate a certain amount for car fuel.
Policy Details:
1. Car fuel amount will be a reimbursement and will be tax-free.
2. Bills for fuel consumed, servicing, maintenance, washing, etc., should be provided by the eligible members for car fuel.
3. Only the amount of the produced bill will be given to the employee.
4. The policy can be withdrawn by the management at any time.
5. Amounts can only be claimed within the financial year; otherwise, they will lapse.
6. The car should be in the name of the employee or the company.
Regards,
Vedvert
From India, Rohtak
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Policy Details:
1. Car fuel amount will be a reimbursement and will be tax-free.
2. Bills for fuel consumed, servicing, maintenance, washing, etc., should be provided by the eligible members for car fuel.
3. Only the amount of the produced bill will be given to the employee.
4. The policy can be withdrawn by the management at any time.
5. Amounts can only be claimed within the financial year; otherwise, they will lapse.
6. The car should be in the name of the employee or the company.
Regards,
Vedvert
From India, Rohtak
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Sample - Copy.docx
CAR LEASE POLICY.pdf