Bharti Airtel Limited eLoan Policy

Version: 3.0
Ref No: AirtelCentre/HR/eLP/2010 Date: 01.04.10

Bharti Airtel Limited

eLoan Policy

Ref No : Airtel Centre/HR/eLP/2010

Version No : 3.0

Date of Issue : April 1, 2010

Document Owner : Head – Performance & Rewards, Bharti Airtel

Approved By : Executive Director HR, Bharti Airtel

Airtel Centre
 Bharti Airtel Limited eLoan Policy

Version: 3.0
Ref No: AirtelCentre/HR/eLP/2010 Date: 01.04.10

Contents

S. No. Content Page

1 Objective 3

2 Scope 3

3 Entitlement 3

Special Provision – eLoan to New Employees/Exiting 3

4
Employees who have been retained

5 Recovery of eLoan 3-4

6 Taxability 4

7 General Guidelines 4

8 Procedure 4

9 Deviations / Exceptions 4

10 Policy Owner 5

11 Policy Status 5

Application format 6

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 Bharti Airtel Limited eLoan Policy

Version: 3.0
Ref No: AirtelCentre/HR/eLP/2010 Date: 01.04.10

1. Objective

The objective of this policy is to mitigate the financial hardship of an

employee arising out of any contingency by providing funds for a short
term period.

2. Scope

The policy is applicable to all employees of Bharti Airtel Limited, Bharti

Hexacom Limited and Bharti Telemedia Limited (hereinafter collectively
referred to as “The Company”).

For the purpose of this policy; the people who are on the employment rolls
of The Company, on the day this policy comes into effect and employed
thereafter, shall be deemed to be ‘employees’.

3. Entitlement

An employee can be sanctioned eloan up to a maximum of three month’s

basic salary.

An employee can apply for eloan only after one year from the date of
disbursement of previous eloan, if any. This clause shall not be applicable
to a new employee who has taken eLoan in pursuant to clause 4 given
below.

4. Special Provision – eLoan to New Employees/Exiting employees who

have been retained

ELoan can be given to a new employee who has joined the organization or
to an exiting employee who has been retained after processing of payroll
register for that particular month. The amount of eLoan shall be at the
discretion of PHROs but not more than one month’s basic salary.

This eLoan shall be recovered, in full, from the succeeding month’s salary.

This clause is applicable to new joinees/exiting employees who have been

retained only and not to other employees.

5. Recovery of eLoan

The eloan shall be recovered in six equal monthly installments. However,

an employee can choose to repay the loan in less than six installments in
which case the employee shall be required to clearly mention the number

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 Bharti Airtel Limited eLoan Policy

Version: 3.0
Ref No: AirtelCentre/HR/eLP/2010 Date: 01.04.10

of installments, in which the loan shall be recovered, in the application

form and this number of installments cannot be changed later.

The recovery of loan shall start from the succeeding month in which the
eloan has been disbursed.

6. Taxability

The eloan is a perquisite and therefore the tax rules applicable to

perquisite value shall apply on loan.

7. General Guidelines

This policy is announced purely as a welfare measure and cannot be

claimed as a matter of right by the employees. The organization does not
owe any explanation in the event of turning down of any request for eloan.

8. Procedure

An employee seeking eloan shall apply by logging onto easyAccess-

>MyWork->eloan link or through the format given at Annexure 1, to his /
her Head of Department, stating the reason for which the eloan is
required.

Upon approval from the Head of Department, the application shall be

forwarded to HR Department for verification of the entitlement and further
recommendations.

HR Department shall also verify date of disbursement of previous loan, if

any. If an employee has been transferred from one unit to another then
HR Department of the new unit shall also confirm the details of previous
loan, if any, from the Finance of the previous Business Unit.

After verification by HR Department and approval by the Business Unit HR

Head, the application shall be forwarded to Finance Department for
disbursement of loan.

9. Deviations / Exceptions

Any deviations / exceptions from this policy require prior written approval
from the respective Business HR Head.

Management reserves the right to modify or terminate this policy without

prior notice.

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 Bharti Airtel Limited eLoan Policy

Version: 3.0
Ref No: AirtelCentre/HR/eLP/2010 Date: 01.04.10

10. Policy Owner

The Head – Performance & Rewards, Bharti Airtel Limited, owns this
policy.

In case of any query/clarification regarding this policy, you may write to HR

Activ Connect – HRActiv.Connect@airtel.in

11. Policy Status

Current version: 3.0

Date of issue: April 1, 2010

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 Bharti Airtel Limited eLoan Policy

Version: 3.0
Ref No: AirtelCentre/HR/eLP/2010 Date: 01.04.10

BHARTI AIRTEL LIMITED

APPLICATION FOR ELOAN
TO BE FILLED IN BY EMPLOYEE
NAME DEPTT.
DESIGNATION GRADE:
ORACLE ID DATE OF JOINING
AMOUNT OF LOAN PURPOSE

LOAN MAY BE RECOVERED IN ______________________ INSTALLMENTS / AS PER RULES.

SIGNATURE RECOMMENDED LOAN OF RS._________

(EMPLOYEE)
SIGNATURE
DATE [HEAD OF DEPARTMENT]
NAME
DATE

FOR USE OF FINANCE DEPARTMENT

PREVIOUS LOAN TAKEN ON AMOUNT OF LOAN

LOAN CLEARED ON

LOAN OUTSTANDING OTHER OUTSTANDINGS,

IF ANY
AVAILABILITY OF FUNDS AS PER BUDGET PROVISION - YES / NO

SIGNATURE
FINANCE DEPARTMENT
NAME
DATE

FOR USE OF HR DEPARTMENT

DATE OF JOINING BASIC SALARY

ENTITLEMENT OF LOAN

RECOMMENDED LOAN OF RS. _____________ TO BE RECOVERED IN ___________ EMIS @ RS. ____________ PER EMI.

SIGNATURE
HR DEPARTMENT
NAME
DATE

SANCTION

LOAN OF RS. ____________ SANCTIONED. TO BE RECOVERED IN ______________________ INSTALLMENTS

SIGNATURE
(SANCTIONING AUTHORITY)
NAME
DATE

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