STRICTLY CONFIDENTIAL

CAR LEASING SCHEME

I. Eligibility

This scheme is available to all the employees of Level D (Services Workforce) , Specialist
(Enterprise Workforce), Consultant (Consulting Workforce) and Team Leader (Solutions Workforce)
and above in India who would like to opt for a company leased car for their business and personal
use.

II. Procedure

(a) Employee should submit the compensation plan on the website declaring the value of the car.

(b) The employee should identify the car to be acquired, negotiate the price and obtain a
Proforma Invoice from the dealer and send it to India Finance Center. The Proforma Invoice
should be in the name of the company specifying the cost of the car, colour, and particulars of
payment.

(c) The employee should also fill in the enclosed application form and Undertaking and forward
the same to India Finance Center.

The following points should be noted:

 Lease finance will be available only for the cost of the car, RTO registration charges and
taxes.

 Insurance will covered through company recommended insurance company and premium
will directly paid by the company and the same will be adjusted against the employee’s
compensation.

 RTO agent’s charges are not covered under lease finance.

 The car must be registered at the place where the Company has an office in India

 Employee can avail the car only at his office location.

 The employee would take the delivery of the car and obtain the Sale Invoice from the
dealer. Copy of the Sale Invoice needs to be forwarded to Finance Bangalore.

 Employee should submit the copy of the driving license to India Finance Center and obtain
the Insurance policy after 3 weeks from the date of purchase.

III. Cost

Vendor : ALD

Lease Rates

Lease Period 3 yrs.

Lease Rent Rs./’000/yr. 305.59

Residual Value 25%

(% of amount financed –
Exclusive of VAT)

* Applicable taxes/levies/duties are extra and will form part of the lease rental and the same will be
recovered from the employee’s compensation.
 Note : Car lease rental are calculated on the Amount financed less VAT as per the invoice submitted
by the dealer. VAT will be charged on the lease rentals separately.

Example :

Cost of the car - 100,000

VAT 12,500

Lease Rentals are calculated on Rs. 100,000

3 Years - 30,559 + VAT @12.5 and any other taxes as applicable.

IV. Guidelines :

 The lease period, once chosen, cannot be changed.

 On completion of the lease period or on cessation of employment, whichever is earlier, the

employee will forthwith arrange for the car to be purchased from the Leasing Company.

 Employees opting for this scheme should allocate necessary funds from their compensation to
enable further processing for the purchase of the car.

 All the employees should submit the declaration along with the car lease application form.

 All the necessary papers should be submitted to India Finance Center within 5 working days
upon receipt of the payment of the car.

 All the necessary taxes etc. should be borne by the employee in case of any transfer of
employment.