Asset Maintenance & Deduction Policy
This policy & process document sets out the guidelines on asset ownership & its maintenance by employee:
Asset is issued to employee to enable seamlessly delivery on their job. It is, therefore, the responsibility of the user to take utmost care of the asset and use it responsibly.
Following guidelines to be followed by employee:
– Assets issued to employee are non-transferable and it’s safe custody is their sole responsibility
– Any physical damage in the assigned assets will be charged from the employee.
– Any loss/theft/accidental damage to be reported to Admin within 24 hrs for filing insurance claim
– Employee is responsible for meeting the requirements of the insurer
– Any shortfall in the insurance claim shall be deducted from the employee
|Asset Life||Deduction from Employee|
|Loss/Theft||Less than 3 years||Depreciated cost Minus Insurance claim received |
10% of the purchase value (whichever is higher)
|More than 3 years||10% of purchase cost|
|Damage||All Assets||Repair cost Minus (-) Insurance claim approved |
|If no claim approved, deduction from employee|