Vedanta Limited. Jharsuguda

Transcription

1 Vedanta Limited Contents: Jharsuguda 3. EXPENSE REIMBURSEMENT POLICIES 3.1 Housing Policy 3.2 Domestic Travel Allowance Policy 3.3 Foreign Travel Allowance Policy 3.4 Laptop/ Desktop Policy 3.5 Mobile Policy 3.6 Car Policy 3.7 Furniture Assistance Policy Prepared by Approved by Version Date HR- Systems Dr. Rajeev Nayan व द- न त Employees First 3.3 व द- न त Ver. 1.3 Expense & Reimbursement Policies

2 3.1 Housing Policy Residential Accommodation in Township All the employees on the rolls of Vedanta Limited, Jharsuguda i.e. in the capacity of Confirmed employee, employee on Probation, Trainee and employees on secondment / transfer from other Vedanta Group companies are eligible for residential accommodation under the Housing Policy. Eligibility for Allotment of Accommodation: a. All employees, except the local employees, will be eligible for allotment of residential accommodation in the township. However, if in the opinion of the management, it is desirable for an employee to reside in the Township in view of criticality of his/her role, exceptions can be made at the discretion of the CEO in spite of the employee being a local employee. b. If husband and wife are both employees of the Company, only one of them whosoever gets first allotment will be eligible for allotment. c. Bachelors will be allotted shared accommodation. 3.4 व द- न त Ver. 1.3 Expense & Reimbursement Policies

3 Classification & Entitlement of Accommodation Type Area (sq. ft.) Eligibility Rent (in Rs. Per month) Type I: 2 BHK 900 M9 to M Type II: 2 BHK 1500 M6 to M Type III: 3 BHK 1800 M3 & above 5000 Independent Duplex House(Furnished) 2250 Functional Heads in M1 Grade 7500 Studio Apartments - M3 & above 6000 Trainee Hostel (Furnished) - MTs / GETs / GTs/OTs/PGETs and other trainees (Male) Nil during training period on twin sharing basis Ladies Hostel (Furnished) Villa Apartments (Furnished) - Female employees. Free during training period on twin sharing basis 1250/- per head after completion of training period - M2 & above 6000 * w.e.f. September 01, 2015 Note: 1. For Expats; rental and electricity charges would not be applicable 2. Electricity usage shall be charged at actual based on monthly meter reading. The rate for electricity consumed shall be Rs.2.50/unit. 3. If an employee fails to take possession of the Flat allotted to him within 15 days from the receipt of the letter of allotment, he shall not be eligible for another allotment for a period of one year from the date of allotment order. 4. An allotment shall be effective from the date on which the keys of the Flat are handed over to the employee. 3.5 व द- न त Ver. 1.3 Expense & Reimbursement Policies

4 An accommodation allotted to an employee may be retained on the happening of any of the events specified below and for the period indicated against each provided that the accommodation is required for bona fide use of the employees or members of his family. Resignation service Up to 15 days from the date of getting relieved Retirement/superannuation/expiry of contract of appointment 30 days Death of the employee while in service - 3 months Transfer out, unless permitted to retain the family at Jharsuguda - 3 months In special circumstances on merits, the above periods may be extended up to a maximum of one month by the Head HR, Jharsuguda. Further extension may be allowed only with the specific approval of the Head HR, Jharsuguda. 1. Any person allotted an accommodation as per the above stated policy, keeping domestic servants on whole-time basis in the quarter shall send particulars of such servants to the Township Administration Manager within 7 (seven) days of their employment. 2. For further details kindly refer to Jharsuguda Township Policy at व द- न त Ver. 1.3 Expense & Reimbursement Policies

5 3.2 Domestic Travel Allowance Policy Eligibility This policy applies to all travel undertaken in India. Travel has to be approved in principle by the approving authority before the travel is undertaken. Only after obtaining the approval for the travel, the tickets and other arrangements are to be made. The travel approval form also enables the employees to obtain Travel Advance. All travel requests shall be raised at T&E on touch-e. Approving authority shall be the functional head (not below the rank of General Manager) Lodging & Boarding Grade Travel Mode of Conveyance Metros Other Cities P Air- Business/ 1st AC AC Private Taxi Actual Actual M1 Air- Economy/ 1st AC AC Private Taxi Actual Actual M2 Air- Economy/ 1st AC AC Private Taxi 9,000 7,500 M3 Air- Economy/ 1st AC AC Private Taxi 7,500 6,000 M4 Air- Economy/ 1st AC AC Public Taxi 6,000 5,000 M5 Air- Economy if more than 12 hours/ 2nd AC Taxi 5,000 4,000 M6 Air- Economy if more than 12 hours/ 2nd AC Taxi 4,000 3,500 M7 Air- Economy if more than 12 hours/ 2nd AC Taxi 3,500 3,000 M8 2nd AC Auto 2,500 1,500 M9 2nd AC Auto 2,500 1,500 Notes: 3.7 व द- न त Ver. 1.3 Expense & Reimbursement Policies

6 The above expenses are subject to actual expenses incurred and on production of bills. Actual expenses/above limits not to include long distance calls Expenses on liquor will not be allowed. All lodging, boarding etc. will be reimbursed at actual, subject to the limits laid down. Up to 5% of the allowable expenses can be claimed without bills (within the limits specified above) to defray expenses incurred on food, laundry, personal telephone calls, tips etc. In case of the employee not using Hotel Facility, food and other Miscellaneous expenses can be claimed not exceeding 10% of their Boarding & Lodging limit. Submission of bills is optional. 1. Journey Incidentals Domestic Travel: Rates for journey incidentals during Domestic Travel will be as under Journey Duration Maximum Limit Less than 5 hours Rs to 12 hours Rs to 24 hours Rs.300 Above 24 hours Rs When an employee on tour visits a place where he is to move about on company business, he is eligible for reasonable conveyance expenses, details of which must be furnished along with the TA bill. 3. Employees who are required to stay at a place outside their headquarters for more than 15 days at a stretch, shall be deemed to be on temporary transfer and their stay shall be governed as follows: Lodging shall be provided by the company in the Guest House. Actual expenses incurred on food shall be reimbursed. Local travelling expenses at actual shall be reimbursed. In addition they would also be eligible for Rs.150/- per day to defray other living expenses. This payment shall be admissible without production of bills. 3.8 व द- न त Ver. 1.3 Expense & Reimbursement Policies

7 They shall be allowed to travel to the place where the family is stationed at for a reasonable interval of time. However, they shall not be entitled for any lodging/boarding expenses at the station where the family resides. 4. In case there is a mismatch between grades & designations, grades will prevail. 5. Usage of own car for conveyance. Prior approval to use own car to be taken from the approving authority. Car above 1600 CC Rs.6.00 per Km Car up to 1600 CC Rs.5.00 per Km 3.9 व द- न त Ver. 1.3 Expense & Reimbursement Policies

8 3.3 Foreign Travel Allowance Policy This policy is undertaken for all the travels outside India and is subjected to CEO/ COO s approval. Class of Travel Grade President & Sr. Vice-President Vice-President & Below International Travel Business Economy Foreign Travel Allowance (USD $ per day) USA/ Grade Europe/Australia/Japan/Kore a Rest of Asia/Africa/Latin America P USD 450 per day USD 350 per day M1 USD 450 per day USD 350 per day M2 USD 375 per day USD 300 per day M3 TO M6 USD 300 per day USD 250 per day M7 USD 300 per day USD 250 per day M8&M9 USD 250 per day USD 200 per day Notes: 1. All the, above are to be reimbursed against submission of bill (except up to a maximum 10% of daily allowance without the bills to defray incidental expenses). 2. The travelling allowance per day fixed above is maximum allowable limit. In case actual expenses are less than above amount, the employee is eligible for actual amount incurred only. 3. For the purpose of Foreign Travel: a. The start of foreign travel will be considered from the landing time at destination b. The above rates will be applicable for every night spent in the hotel. c. In case employee stays with his or her relative, 50% of the above rates will be applicable for night spent व द- न त Ver. 1.3 Expense & Reimbursement Policies

9 d. Employee while in aircraft / transit at airport, no foreign travel allowance will be claimed. e. For part of the day, if spent abroad, per day allowance will be restricted to Up to 12 noon 20% Up to 6 pm 40% Up to 12 midnight 60% 4. Laundry expenses of USD 10 per day over and above the daily limits. 5. However in case employee stays in hotel, he/she can claim for expenses on full day basis. 6. Reimbursement of reasonable taxi fare incurred outside India may be paid at actual. 7. To the extent possible, balance of local currency should be converted to USD at the airport before departure to India. 8. Balance of any foreign currency given by company should be returned along with tour bill within 7 days of return from the tour. Kit allowance for foreign travel: All employees travelling overseas on Official work or Company s business are eligible for a Kit Allowance in order to attire themselves in accordance with the requirements of Business Etiquette. Grade Amount Frequency M2& above Rs.15,000 Once in two years M3 & Below Rs.10,000 The allowance would be given once in two years against submission of bills व द- न त Ver. 1.3 Expense & Reimbursement Policies

10 3.4 Laptop/ Desktop Policy I. Applicability To all regular employees of Vedanta Limited, Jharsuguda including Aluminium and Power. II. Policy Statement This Policy details eligibility, Brand and Price limit of Laptops which should be used as business tool to enhance productivity of employees. III. Entitlement All employees from M5 to President Grade are entitled to get Laptop for their day to day company activities. On request from employee, HR Executive to move CER with three approval of 1.) IT Head, 2.) Finance Head and 3.) HR Head. An employee can possess only one Laptop or one desktop. Any exceptions will be handled through policy deviation route mentioned in Section VII of this policy document. IV. Replacement guidelines Laptop will be replaced once in three years only depending upon the condition and usage of the laptop On replacement, employee must buy the same from company by paying 20% of the original cost of the laptop. Subsequent to this, new laptop would be given. Replacement of laptop is strictly not allowed before a period of three years, however if this need to be replaced (subject to internal approvals) before this period for whatever reasons, employee will have option to buy the existing laptop at a price as given below: One year or less - 85% of laptop cost After 1 year but before 2 years - 50% of laptop cost After 2 years but before 3 years - 30% of laptop cost After 3 years but before 4 years - 20% of laptop cost Laptop cost would mean the purchase price inclusive of all taxes and duties व द- न त Ver. 1.3 Expense & Reimbursement Policies

11 V. Separation / Transfer guidelines On transfer from Jharsuguda to companies within Aluminium & Power sector, laptop will be carried by the employee; no new laptop shall be issued except in compliance with this Policy. On transfer to any group company, employee needs to surrender the laptop or it can be bought by employee as per the policy. On superannuation / separation, employee has an option to purchase the LAPTOP at value given as per Section IV. When an employee buys the Laptop, he/she will get hardware and operating system license only. He will not have right/license for any other software viz MS Office, Anti-Virus, SAP, Lotus Notes, Outlook etc. If the employee leaves the organization within one year of issue of a new laptop, employee will have the option of buying the Laptop as per section IV or to surrender the same to IT, failing which deduction will be made from his dues as per section IV. VI. Employee responsibilities General usage of Laptop is for SAP, MS Office, and Internet access. User should ensure that only licensed software is installed on the Laptop which should be in line with list of software s as per IT Policy. All Laptops will be insured for theft / loss. In the event of theft / loss employee will have to file an FIR with the nearest police station and submit a copy of the same to HR for insurance claim. Employee shall be responsible for the security and proper usage of laptop. In case of theft/damage, employee will have to pay as per slabs at Section IV (net of any insurance proceeds actually received in case of theft). Data security and secrecy is very critical and all users will ensure that data is protected and not shared to any outsider, without proper approval. VII. Approval guidelines CERs should clearly mention that "This CER is in accordance with the Company's Laptop Policy dated September 2014 and any deviations should be clearly highlighted व द- न त Ver. 1.3 Expense & Reimbursement Policies

12 In case of deviation from the entitlement procedure, Approval process should state the reason for the deviation and the approval requirement shall be as follows-individual -> Any President Level Approval -> Sector HR Head Post approval, IT department will initiate procurement process. No procurement shall be initiated except in accordance with this Policy. IX. Laptop Make / Models and Configuration Make, model and configuration of the laptop would be strictly as per the defined policy. It would be reviewed on quarterly basis as per the technological trends prevailing in the market and updated to IT Head and HR Head. The current approved configuration is as under : For (M4 & M5 Grade): Maximum Price Rs. 53,940/- without taxes For (M3-M2 Grade): Maximum Price Rs. 65,500/- without taxes For (M1 & P Grade): Maximum Price Rs. 1.3 lakhs without taxes No personal laptops to be used by any employee or trainee without the prior approval of Department head, IT head & HR Head. 3.5 Mobile Policy Entitlement All employees in grades M2 and above are entitled to Mobile handset facility. Guidelines Mobile handset shall be purchased by the employees and the company shall reimburse the cost. Reimbursement shall be authorized by the Head-HR व द- न त Ver. 1.3 Expense & Reimbursement Policies

13 The upper limit reimbursement of handset cost will be as follows: Cost Eligibility for one Grade President M1 M2 Below M2 (Need based on approval) handset every two years Rs.50,000 Rs.40,000 Rs.30,000 Rs.15,000 Eligible employees will be entitled to only one handset reimbursement every two years. Employees can buy a higher priced Mobile handset but the reimbursement shall be restricted to aforesaid prescribed limit only. On completion of two years of service from the date of purchase of Mobile handset, the employee will be eligible for reimbursement of another Blackberry/Mobile handset cost. In case the employee leaves service before 2 years from the date of purchase of Mobile, s/he will have to bear the proportionate cost of the set which will be calculated as follows and adjusted against the final settlement: {Cost reimbursed X No. of months left to complete 24 months from the date of purchase} / 24 Within 2 years of purchase of Mobile, the employee shall not be eligible for another Mobile cost reimbursement; any reason whatsoever (E.g. damage, stolen etc.) Mobile Bill Reimbursement: Employees in Grades M4 and above shall be eligible for reimbursement of mobile bill expenses. For employees in Grades M5 & below, the Head of Plant / Function shall accord specific approval for reimbursement of mobile expenses looking at the criticality of the role being held by the employee and duly justifying the need for the same व द- न त Ver. 1.3 Expense & Reimbursement Policies

14 The upper ceiling for mobile bill reimbursement shall be as follows: Grade Cost Eligibility President Actual M2 & above 3000 M3 & M4 Rs.2,000 M5 & M6 Rs.1,000 M7,M8 & M9 Rs.500 For employees in Grades M2 and above the company shall settle the monthly bills directly with the service provider. For employees in Grades M3 and below, the employee shall settle the bill with the service provider and submit the same for reimbursement with the Finance Department. The amount shall be reimbursed to the employees along with the salary payment every month व द- न त Ver. 1.3 Expense & Reimbursement Policies

15 3.6 Car Policy In reference to the existing car policy, please note the following amendments to the policy. These amendments are effective from 1st April, Upper Cost Limit An employee can purchase higher priced car up to a maximum of 100% of the upper cost limit as prescribed by the company. In such case, an employee would have to pay the differential cost including the differential insurance and registration costs. The upper cost limits are the ex showroom price. Registration and insurance costs are additional costs which will be borne by the company. Grade President M1 M2 Revised Upper Cost Limit Rs.30,00,000 Rs.17,50,000 Rs.12,00,000 Cash benefit in lieu of car Grade P M1 M2 Revised Cash Benefit on Lieu of Car Rs.62,500/- pm Rs.36,458/- pm Rs.25,000/- pm Employees who have availed car under the existing upper cost limits will be paid differential cash benefit as per current grade till the completion of 4 years from the date of purchase of car / purchase of new vehicle on promotion व द- न त Ver. 1.3 Expense & Reimbursement Policies

16 Vehicle Reimbursements With the rising prices of fuel and driver s salary the annual vehicle reimbursements amounts are revised as follows: Grade City Revised reimbursement p.a. P All Actual M1 M2 Mumbai, Delhi Chennai, Bangalore, Kolkata Other Locations Mumbai, Delhi Chennai, Bangalore, Kolkata Other Locations Rs.2,75,000 Rs.2,00,000 Rs.2,25,000 Rs.1,75, व द- न त Ver. 1.3 Expense & Reimbursement Policies

17 3.7 Furniture Assistance Policy This scheme is to provide furniture assistance to Senior Management Staff and also to enable them to acquire furniture over a period of time. Eligibility This scheme applies to all the Management Staff in the Grade M2 and above. Terms and Condition Under the Scheme the company will provide all Senior Management Officers in Grade M2 and above with an eligibility amount as indicated below: Grade President M1 M2 One Time Assistance As per Appointment Terms Rs.2,00,000 Rs.1,50,000 The furniture covered under the scheme includes Residence Air Conditioners, refrigerators, washing machine, furniture and other household equipment. The amount may be used within a year of becoming eligible. At the end of 5 years of use of the furniture thus purchased, the same may be sold to the employee at a written down value of 10% of the original cost. Once the employee purchases the assets at the end of 5 years, he/she is entitled to purchase new furniture under the scheme on replenishment basis. In case of the employee who resigns or retires from the Company within 5 years from the date of availing the assistance, the furniture and or / utility items will be sold to him/her at written down value on the basis of 15% straight line depreciation per annum. It is mandatory for the employee to pay the amount and acquire the furniture and / or utility items. In the event of demise of employee while in service, the furniture / utilities will be sold to the employee s family at their option at written down value calculated on the basis of 20% straight-line depreciation per annum. The Company has the right to change or modify any of these rules and procedures or withdraw the scheme at its discretion व द- न त Ver. 1.3 Expense & Reimbursement Policies

18 Annexures: A. Allocation of Housing in Vedanta 3.20 व द- न त Ver. 1.3 Expense & Reimbursement Policies

19 B. Allocation of Shared Accommodation APPLICATION FOR ALLOTMENT OF SHARED ACCOMMODATION VEDANTA LIMITED, Jsg., TOWNSHIP TO THE TOWNSHIP ADMINISTRATION MANAGER VEDANTA LIMITED ALUMINIUM & POWER, JHARSUGUDA Dear Sir, I would request you to consider me for allotment of Flat in the Vedanta Limited, Township at Jharsuguda. My Personal details are given herein below. 01. NAME OF THE EMPLOYEE: 02. EMPLOYEE NUMBER: 03. DATE OF JOINING Vedanta Limited-J: 04. DATE OF JOINING IN GROUP: 05. GRADE / DESIGN: 06. DEPARTMENT: 07. CURRENT RESIDENTIAL ADDRESS: 08. MARITAL STATUS: M / UM 09. NAMES & ID OF PREFERRED ROOM PARTNER AS PER OPTION MENTIONED ABOVE: Emp ID Name Designation I will abide by all the terms, conditions and rules as applicable to the residents of the Township. Signature: Date: 3.21 व द- न त Ver. 1.3 Expense & Reimbursement Policies

20 C. Business Related Reimbursements 3.22 व द- न त Ver. 1.3 Expense & Reimbursement Policies