House Taken for Rent /

 

 

PURPOSE

The company is required to take house on rent/lease for various executives.

 

SCOPE

This policy is applicable to all the employees designated in level VIII and above of all the units of the _________ group.

 

PROCEDURE

The HRM Department shall look for a house/flat for an executive on the rent settled during the interview.

The electricity, water charges etc. shall be borne by the employee unless specifically settled that it will be reimbursed by the company.

All possible efforts shall be made to look for a house near the place of posting and in a good locality.

HRM department should make all possible efforts to look for a house having A class construction preferably newly built or recently renovated.

Before finalizing the house the HRM department should keep in view the following points:

   a.   The house/flat is properly white washed & painted.

   b.  The house does not need any repair.

   c.  Each bedroom has got proper almirahs’ for storage and all the rooms are properly ventilated.

   d.  All electrical fittings including bulbs, tubes and fans are fitted and are in working order.

 

The company will deposit 03 months’ rent as security to be adjusted in the last months of rent payable.

The company will pay up to 03 months’ rent as advance to be adjusted atleast 50% from the 1st day of the month.

The company has Approved Agreement which should be entered between the parties (company and the landlord).

The HRM department can take assistance from the broker for identifying a house and company shall pay up to one month rent as brokerage to broker only for once (i.e. First time only) that too on production of proof of such payment to broker.

 

Many a times executives are requesting that a company lease be entertained even if a house is in the name of his mother/father/wife etc. In those cases following policy is framed.

The company will not have any objection for such lease.

In all such cases no advance should be paid and if there is any, concerned employee shall deposit the amount and only then the company shall issue the cheque as advance to the landlord.

The rent should be paid only after expiry of one month, which will be recovered from the executive’s salary.

 

 

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How the job analysis can best benefit to the company
Employee Engagement Process
How to identify and apply performance management to get the best output from it?
Balance scorecard is necessary for achieving Goals of performance management
Get best matched jobs on your email. No registration needed