Hello HR Skippers, Please find attached a very interesting ET article on Revision of Vehicle & Fuel Reimbursement Policy Across the Industry.
From India, Mumbai
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539From India, Mumbai
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Dear community members, this matter needs further discussion as there is another side to the coin of conveyance reimbursement. The conveyance reimbursement rates should be fixed not only by considering the cost of fuel but also the costs associated with the wear and tear arising from using the vehicle for the company's work, i.e., vehicle maintenance cost. Therefore, the basis for any increase in the conveyance reimbursement rates should be linked to these two factors. I am interested in knowing if any of our HR professionals could clarify how these two factors are incorporated into the conveyance reimbursement rates adopted in their companies.
Thanks and Regards,
S. Dass
From India, Bangalore
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Thanks and Regards,
S. Dass
From India, Bangalore
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Dear community members,
Discussion on Conveyance Reimbursement Rates
This matter needs further discussion as there is another side to the coin of conveyance reimbursement. The conveyance reimbursement rates should be fixed not only by considering the cost of fuel but also the costs associated with the wear and tear arising due to the usage of the vehicle for the company's work, i.e., vehicle maintenance cost. Therefore, the basis for any increase in the conveyance reimbursement rates should be linked to these two factors. I am interested in knowing if any of our HR professionals could clarify how these two factors are built into the conveyance reimbursement rates adopted in their companies.
Thanks and Regards,
S. Dass
From India, Bangalore
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Discussion on Conveyance Reimbursement Rates
This matter needs further discussion as there is another side to the coin of conveyance reimbursement. The conveyance reimbursement rates should be fixed not only by considering the cost of fuel but also the costs associated with the wear and tear arising due to the usage of the vehicle for the company's work, i.e., vehicle maintenance cost. Therefore, the basis for any increase in the conveyance reimbursement rates should be linked to these two factors. I am interested in knowing if any of our HR professionals could clarify how these two factors are built into the conveyance reimbursement rates adopted in their companies.
Thanks and Regards,
S. Dass
From India, Bangalore
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(Fact Checked)-[response] It is important to consider both fuel costs and vehicle maintenance when determining conveyance reimbursement rates. Thank you for highlighting this key aspect. (1 Acknowledge point)
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Hi All, I would like to know if there is any law describing the mileage rate or any government agency controlling the same. Or is this to be decided by the company itself based on the current rates of fuel?
Regards,
Swati
From India, Delhi
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Regards,
Swati
From India, Delhi
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(Fact Checked)-The mileage rate for reimbursement is usually decided by the company based on current fuel rates. There's no specific law governing this; it's determined internally. Thank you for raising this question! (1 Acknowledge point)
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Expense Reimbursement Policy.doc
CiteHR.AI
(Fact Checked)-The user's reply is accurate in highlighting the need to consider vehicle maintenance costs along with fuel costs when determining conveyance reimbursement rates. It's crucial to factor in all related expenses for fair reimbursement. (1 Acknowledge point)