Vehicle Policy 4a258

COMPANY’S VEHICLE POLICY 1.

Objective: Increase efficiency and effectiveness to employees performance.

2.

Scope: This policy is applicable to managers and above ranks/cadres

3.

Entitlement: Director (paid) General Managers/ Sr. Managers Managers

4.

-

Chauffer driven 1300 CC Car Khyber/Alto / Santro or any other 1000 CC Car CUORE

Procedure: 4.1 Each newly hired employee entitled for this facility as in No. 3 above, shall be provided a new – zero meter car (latest model) or two years old model (maximum). 4.2 In case of a used car a) it should not have covered more than fifty thousand (40,000) kilometers. b) It must have been subjected to general check up and value assessment by its authorized dealer, to the satisfaction of both the parties. 4.3 Vehicle shall be provided for official–cum–personal use on ownership basis against a formal agreement signed by both the parties. 4.4 Vehicle shall be initially ed in the name of the company – TEXTILERS (PVT) LIMITED. Expenses incurred on registration, road tax, and insurance shall be borne by the company. 4.5 Company will recover invoice value of the vehicle in sixty (60) equal monthly installments. 4.6 On realizing the total cost (the invoice value) as set forth in the agreement (Ref: clause 4.3 above), the company will issue the TRANSFER LETTER in the name of the concerned employee and handover all the documents of registration, tax, and insurance to the concerned employee. 4.7 FUEL CHARGES The vehicle will be equipped with facility both for PETROL and CNG enabling the concerned employee to operate the

vehicle as per his affordability and convenience. Company will however, compensate the employee with a fixed sum of Rs.-----------------, per month against the fuel charges. 4.8 Individuals deputizes for outdoor assignments officially, shall be adequately compensated for extra mileage done subject to verification of the same from their Log Books. 4.9 COST OF MAINTENANCE 4.9.1 4.9.2 4.9.3 4.9.4

For first two years it will be Rs.10, 000/anum. For next third & fourth year it will be Rs.12, 000/anum. Expenses for seat covers & mats will be reimbursed on production of Cash Memos/Bills once in two years. Service charges Rs.1000/service, to include CAR WASHING/ OIL CHANGE/ OIL FILTER replacement. (on every 3000 Kilometers). Only patent brand oil of Shell, PSO, Caltex to be used.

4.9.5 Break adjustment/ Car Engine tuning/ Fuel/ Air filter, Plugs replacement after every 10000 Kilometers while fuel filter to be replaced on 15000 KMs 4.9.6 Replacement of battery after every third year. 4.9.7 Replacement of Tyres after every 40,000 Kilometers. 4.9.8 Wheels alignment and wheel balancing after every 20000 kilometers. 4.9.9 Expenses of Tyre repairs shall be reimbursed on production of original bills. 4.9.10 Company shall not take responsibility of luxury items fitted by individual, such as Tape recorders, fancy items etc. 4.9.11 In case of replacement of parts, the amount of depreciation and other costs in excess of the fixed costs (i.e 4.9.1 to 4.9.10 ), shall be borne by the concerned employee. 4.9.12 Challans for violation of traffic laws shall be paid by the employee himself. 4.9.13 A formal written approval by General Manager (Operations) to carry out any of the above noted repair and maintenance jobs. 4.10 Accident/Theft/Snatching 4.10.1 All risks are covered under Comprehensive Policy. Incase of accident / theft / snatching the employee should immediately inform the . Department in writing along with copy of FIR. 4.10.2 Vehicle will be sent to Work Shop for estimate of repairs. 20% charges of the Insurance bill shall be charged to the employees . These are in addition to the charges as spelt out in 4.9.11.

4.11

The Company expects that the Employee takes full responsibility of the company’s property, and maintains the same in sound condition. 4.12 Monthly inspection of the vehicles is carried out by the Human Resource Department to ascertain the mechanical / body condition of the vehicle and report submitted to Director. 4.13 Each allottee of the company vehicle has to maintain a LOG BOOK for mileage, repairs, replacements to be presented to Human Resource Department on daily basis. 4.14 TERMINATION OF EMPLOYMENT In the event of termination of employment earlier than sixty (60) months due to resignation or dismissal (for reasons other than misconduct) it will be incumbent on the concerned employee to pay the outstanding amount before leaving the company finally. In the event of default, the company management shall recover the balance amount as per and conditions of the agreement entered into between the two parties in this regard (Ref: clause 4.3)