Im currently doing an additional policy on car plan. Please help me on how to handle resigned employee with existing car plan
From Philippines, Quezon City
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From Philippines, Quezon City
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Hi,
Most of the company's car provision is given only to the top executives. There are two types available:
1. The company will provide the car, and the concerned person has to return it at the time of resignation.
2. The car component is included in the CTC. Once the entire loan amount is settled, the car will be given to the employee in their name through a name transfer process. If the executive decides to resign, they can take ownership of the car by paying the remaining amount. Alternatively, the car will be sold, and the company will adjust the amount, paying the remainder to the employee.
I hope this helps clarify the car provision policy within the company. Let me know if you have any further questions.
Thank you.
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187Most of the company's car provision is given only to the top executives. There are two types available:
1. The company will provide the car, and the concerned person has to return it at the time of resignation.
2. The car component is included in the CTC. Once the entire loan amount is settled, the car will be given to the employee in their name through a name transfer process. If the executive decides to resign, they can take ownership of the car by paying the remaining amount. Alternatively, the car will be sold, and the company will adjust the amount, paying the remainder to the employee.
I hope this helps clarify the car provision policy within the company. Let me know if you have any further questions.
Thank you.
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Company Car Policy.doc