Asset Return & Admin Clearance Process


This document sets out the guidelines to return asset issued for official purpose & subsequent admin clearance to be given to employees on their exit:

Corporate employees (Corporate Office, Gurugram)

  1.     The employee shall handover the asset to Admin on the last working day.
  2.     Admin clearance shall be processed immediately
    – With “0” recovery if asset is found to be in acceptable condition
    – With applicable deduction if asset is damaged
     

Corporate employees (Mumbai, Bengaluru, Chennai, Kolkata office)
 

  1.     Admin shall be arranging pickup of the asset from respective office location on the last working day.
  2.     Admin clearance shall be processed upon receiving of the asset:
    – With “0” recovery if asset is found to be in acceptable condition
    – With applicable deduction if asset is damaged

Project Employees
 

  1.      The employee shall share the address on helpdesk for asset pick up prior 5 days of LWD or EID (whichever is later)
  2.       Admin shall be arranging the pickup of the asset on the last working day.  Employee has to handover the asset to courier person on the same day
    – In case, the asset is handed over to some other employee deployed in the same location, the exited employee/project team shall share confirmation mail of the receiver on helpdesk on the same day along with address to pick up. Admin shall arrange pick up of the asset.
    – In case the above-mentioned acknowledgment not shared/Admin do not receive the asset back, amount
    towards the cost of the asset shall be deducted from FFS of the exited employee
  3.     Admin clearance shall be processed upon receiving of the asset:
    – With “0” recovery if asset is found to be in acceptable condition
    – With applicable deduction if asset is damaged

Deduction towards damage

DamageAll AssetsRepair cost Minus (-) Insurance claim approved or if no claim approved,
deduction from employee’s FFS

Asset Recovery

If the address for pick up not received prior 5 days, Admin shall follow below process to recover the asset before Admin clearance:
 
– Day 1: E-mail asking address for pick up shall be sent by Admin with copy to RH/project coordinator, 3 days prior of LWD or EID whichever is later.
– Day 2: If address received, Admin shall arrange the asset pick up. If address not received, follow up mail shall be sent with copy to Reporting Head & Project team. Project team has to intervene to recover the asset
– Day 3: Same action as Day 2
– Day 4: Same action as Day 2 & 3
– Day 5: If asset received, Admin clearance shall be processed:
. With “0” recovery if asset is found to be in acceptable condition 
. With applicable deduction if asset is damaged
– If asset not received, Admin clearance shall be processed:
a. With deduction of the amount equivalent to cost of the asset
b. Legal notice shall be issued to the employee
c. The amount shall be deducted from employee’s FFS.

  • The amount equivalent to unrecovered asset shall be debited to the project through subsequent internal transfer.
TAT for Admin Clearance5 days from LWD or EID whichever is later