POLICY NUMBER POLICY NAME VERSION No.

EFFECTIVE DATE
BSL-HR-TR-001 CAR LEASE POLICY 2.0 01-July -2015

Dept/Role NAME SIGNATURE

Prepared By HR CnB Altamash Vakil

Reviewed By HR SS Siby Joseph

Reviewed By Geo HR Head Deepak Dobriyal

Approved By CFO Pooja Aggarwal

Approved By COO Dharmander Kapoor

MODIFICATION / CHANGE HISTORY

SL. Date of Change Version No. Approved
No. Description of Change Release Request By
No.
1.0 New Document Release 01-Apr-2002 1.0 A.P. Rao
2.0 Document Modification to extend coverage 01-July-2003 1.1 Kamal
scope
3.0 Document modification to revise coverage 01-June-2006 1.2 Kamal
limits
7.0 Modification to revise coverage limit and 01-July-2015 2.0 DK / Pooja
benefits
CAR LEASE POLICY

1 Objective

To provide eligible employees with a conveyance facility to attend business affairs and to maintain a life style which is
appropriate to the role of the individual and Birlasoft Standards

2 Applicability

This policy is applicable to all full-time Associates of Birlasoft (India) Limited in Grade A6 and above on Indian Payroll
and not on a long-term deputation to any country.

3 Definitions
 “Business Unit Head”” means the head of the Delivery Unit like MfSI/BFSi Head, Service Line Head or
Department Head.
 “Function Head” means a L1 reportee of CEO (e.g. Sales Leaders of Geo, CSO, CFO, CPO, COO, CCO)
 “Rental”: Refers to equated monthly installment paid by the Company to the Service Provider / Leasing
Company.
 “Stay-on-your-own/ Consolidated Per Diem”: Refers to lodging and boarding arrangements made by the
associate on his/her own and no bills are required to claim this benefit, unless bill is mandatory in a country.

4 Eligibility

Eligibility for each grade is as below

Grade Value of leased Vehicle not Fuel & Maintenance Driver Salary
exceeding INR * Reimbursement Reimbursement
(Monthly) (Monthly)
A6 & A7 12,00,000 6,000 10,000
A8 & A9 16,00,000 8,000 12,000
A10 & Above 20,00,000 10,000 15,000

*While these are overall upper limits for the respective grades, the actual amount may be lower depending on
individual employee’s Special Allowance.

In case any associate wants to lease a vehicle of a value higher than mentioned above, the associate has to make the
differential payment as down payment (security deposit) along with the down payment as mentioned in clause 5.

5 OPERATIVE GUIDELINES :

5.1 The monthly rental and all expenses will be part and within the overall CTC of the associate.

5.2 Associates should submit duly approved application by BU Head or Function Head, to HR for processing

5.3 HR will process the application, after verifying the grade and eligibility, and would initiate an agreement with
the associate for the leased car. The Company has entered into a Master Lease Agreement with a leasing
vendor. The associate would be required to sign an Affidavit and Indemnity to avail this benefit.

5.4 Identification of the car, negotiation with the dealer etc. will be done by the associate.

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CAR LEASE POLICY
5.5 Payments to the financer will be released once the associate executes the agreement.

5.6 The lease would be for three/four years and terms of payment is as below: -

o Down payment of 15% will be payable upfront. This would be recovered from the associate in three
equal monthly installments from the start of lease.

o Depending upon the option availed by associate, upto 15% of the value of the car would be the
residual value. The company will issue posted dated cheque in favor of the leasing company and the
same will be recovered from the employee at the end of the lease period.

o Birlasoft would pay the financer in 36/48 monthly installments and it would be recovered from the
associate from his overall CTC.

5.7 Associates will be responsible for servicing and maintaining the vehicle in good road worthy condition and
comprehensively insuring the vehicle. Associate has to submit a copy of the insurance certificate to the
company every year, in case insurance is done by self/user.

5.8 Usage and parking of the vehicle will be at the risk of the associate, company does not guarantee any parking
space.

5.9 Only the associate or immediate family members (spouse, adult children) or a driver (appointed by the
associate) provided they have a valid driving license (4 wheelers) is eligible to drive the car.

5.10 Concerned associate will have to report any theft, accident, damage to the car or any other third party to the
police and file necessary complaints directly and keep Admin \ HR informed. Admin \ HR will provide assistance
in dealing with the matter, wherever possible.

5.11 Maintenance, road tax, VAT and insurance premium of the leased vehicle will be debited to the reimbursement
allowance of the associate or recovered in three equal installments . Any other applicable taxes or levies that
may come into existence from time to time will be charged to the associate.

5.12 Upon finalization of vehicle, signing of Affidavit and Indemnity by the associate and approval from HR, Finance
will release advance EMI’s / initial payments to the leasing company / vendor, as applicable.

5.13 Monthly lease amount will be paid by Finance to the leasing company as per the payment schedule agreed
upon with the vendor.

5.14 HR will adjust the monthly lease amount from the Special Allowance / Benefit basket of the employee.

5.15 At the end of the lease period / foreclosure time, HR & Finance will do reconciliation of the lease amount paid
to the vendor and adjusted from the special allowance of the associate. Any difference will be adjusted from
the associate’s dues / pay.

5.16 It is the associate’s responsibility to ensure that Insurance, Pollution checks, Driving Licence etc are kept
current.

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document without permission of the authorized Birlasoft personnel is strictly prohibited.
Document Classification : Birlasoft Internal
CAR LEASE POLICY
5.17 In case of separation of associate before completing all the EMIs, associates will have to pay the foreclosure
amount to the leasing company through the Company. Clearance Certificate, Relieving Letter, Experience
Letter and Closure of Full and Final Settlement of Accounts would be effected only after the Car Lease Account
is settled and a No Objection Certificate is obtained from the Leasing Vendor. The Company also reserves the
right to recover any outstanding amount from the salary or any such dues of the associates.

5.18 Associates should surrender the vehicle to the Company on their last working day till the company settles
outstanding dues / balance EMI’s with the leasing vendor.

5.19 If an associate is deputed onsite on a long-term assignment (without INR) s/he will have to settle all
outstanding payments on the cars before proceeding on international assignment.

5.20 At the end of the tenure and after settlement of all dues, including the balance residual value of 15 %, the
Company will issue No Objection Certificate (NOC) to the associate and also obtain and NOC from the Leasing
Company.

5.21 The value of EMI will be reduced from the Special Allowance and the EMI will be paid directly by the Company
to the Leasing Vendor.

5.22 Associates having any type of loan from the Company ae not eligible to take vehicle lease benefit.

5.23 The vehicle shall be primarily used for the business purposes of the Company. However, associates are
allowed to use the vehicle for reasonable personal use, provided that fuel & running expenses related to
personal usage shall not be claimed from the Company.

5.24 The leased vehicle shall not be used for any unlawful activities or dangerous activities (e.g. racing, sporting
activities, etc.).

5.25 In case of employing driver for driving the vehicle, it will be the sole responsibility of the associate in ensuring
that the driver does not have any criminal background, not a proclaimed offender and legally permitted to
drive a vehicle within India. All risks associated with employing drivers shall be the sole responsibility of the
associate. It is strongly advised to the associates to get the background check of such drivers conducted
through external agencies at own cost. In addition, the identify proof, photograph and address proof of the
driver be maintained by the associate who employs the driver and must be produced to the Company on
demand.

5.26 The Company reserves the right to take back possession of the vehicle, in case it is found that the vehicle is
used for non-business related purposes or any anti-social activities, frequent violation of traffic rules, allowing
minors or persons not holding valid driving license to drive the vehicle, or for anything contrary to the purpose
for which it is issued.

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document without permission of the authorized Birlasoft personnel is strictly prohibited.
Document Classification : Birlasoft Internal
CAR LEASE POLICY

VEHICLE LEASE REQUEST FORM

TO BE FILLED IN BY EMPLOYEE
Employee ID Name of Employee

Grade Department / Project

Date of Joining Location

Date of Request Model / Make of

Vehicle
Monthly Special Total ex-show room
Allowance price of vehicle

I, the above mentioned employee of Birlasoft (India) Limited, hereby declare that I will use the vehicle provided by Company
primarily for the business purposes. I shall not use the vehicle for any activities which violates any law of the land or for anti-
social or any unlawful activities. I hereby give my consent to the terms and conditions mentioned in the Car Lease Policy of
the Company, updated from time to time.

I further agree that I shall solely be responsible in maintaining the leased vehicle in good condition at all times.

Signature of Employee :

Date :

Last Vehicle lease closure date :

(to be filled in by employee)

Signature of Employee :

Recommendations / Approvals

Supervisor Function Head HR Copy to Finance for payments

In case application is rejected at any stage, please state reason:

Rejected By: (Supervisor / Function Head / HR)

Note : This form can be sent as a hard copy or soft copy attached through an email

BSL-HR-TR-002 Version 2.0 Page 5 of 5

This document is the exclusive property of Birlasoft. Printing, copying, circulation or distribution of this
document without permission of the authorized Birlasoft personnel is strictly prohibited.
Document Classification : Birlasoft Internal