SIP Interim Report

A REPORT
ON
REUIMBERSMENT OF EXPENSES TO EMPLOYEE

SUBMITTED BY-
TUSHAR SHARMA

SUBMITTED TO-

MR. SACHIN GARG

Date:28-07-2022

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SIP Interim Report

REPORT
ON
REUIMBERSMENT OF VARIOUS EXNPESES TO
EMPLOYEE

MARUTI SUZUKI INDIA LIMITED

(LOGO)

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SIP Interim Report

Acknowledgement

The successful realization of this project is an outgrowth of

consolidated efforts of people from disparate fronts. I
express my sincere thanks to the management members of
MANAV RACHNA INTERNATIONAL INSTITUTE OF RESEARCH AND
STUDIES for giving me an opportunity to learn, grow and
widen the horizon of my knowledge and inculcate the spirit
of dedication to the purpose.
I am thankful to Mr. Sachin Garg (Finance Manager), who
was not only a constant source of inspiration during the
course of this project, but also motivated me to go beyond
my comfort boundaries. He had helped me to build a positive
attitude and pursue the work with sincerity and passion.
I would also wish to express my gratitude to Mr. Amit Kumar
(Faculty-in-charge), without whose support, guidance and
motivation this project would not have seen the light of the
day.
I would like to convey my sincere thanks to all those who,
directly or indirectly, helped to achieve my goals. I would like
to thank all the senior members of the organization for
putting their trust in me and assigning the trustworthy tasks.

Especially, I would like to give my special thanks to my

parents and friends for patient love and help in the course of
internship.

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SIP Interim Report

Table of Content

I. Acknowledgement…………………………………………….............
3
II. Abstract…………………………………………………………………………..
5
III. Company
Profile………………………..................................6
IV. Introduction…………………………………………………………………….
7
V. Summary
1. Management Audit of a Leading
Indian Public Sector Bank’s International
Business Group (IBG)………………………………………………..8

2. Management Audit of an emerging Small

Finance
Bank……………………………………………………………..13
3. Payment Systems used in India and
Abrod………………………………………………………………………….1
4
VI. Key
Learnings………………………………………………………………….16
VII. Limitations of the
Study………………………………………………….17
VIII. References……………………………………………………………………….
18

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SIP Interim Report

Abstract

As a part of my PGPM curriculum, I have done my internship

training at Maruti Suzuki India Limited. In this report I am
going to share my experience in the company for 1 month.
During this period, my role was to assist my Company Guide
(Sachin Garg) in various projects under reimbursement of
various expenses to employee for their service rendered.
Adhering the guidelines for reimbursement and reimbursed
of employee expenses incurred in the performance of
services as an employee.
The purpose of policy on travel expenses (inland travel or
foreign travel), medical expenses. Daily allowances is to
provide efficient, reasonable, and accountable guidelines for
dealing with expenses.
In this report, I will be explaining all about the work done by
me until now, which includes - Hospitalization expenses,
Hospitalization advance, Inland travel, Foreign travel,
Employee Joining & Transfer related expenditures,
reimbursement of travelling expense to TW worker i.e. from
the place of residence to place of company plant,
reimbursement of local conveyance to employee, Holiday
Allowance.

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SIP Interim Report

Company Profile

“Today should be better than Yesterday

And Tomorrow should be better than Today".

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About:
Maruti started out in 1982 in Gurgaon, Haryana. Little did the
then quiet suburb of New Delhi know that it was going to
become the epicentre of the automobile revolution in India.
The year marked the birth of the Maruti Suzuki factory. India
turned out 40,000 cars every year. The new Maruti Suzuki
800 hit the streets to begin a whole new chapter in the
Indian automobile industry. Maruti set out with an obsession
for customer delight, one that was unheard in the corridors
of automobile manufacturers then. It was about a
commitment to create value through innovation, quality,
creativity, partnerships, openness and learning. It created a
road that was going to lead the world into a whole new
direction, laid out by Maruti Suzuki. Today, Maruti Suzuki

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SIP Interim Report

alone makes 1.5 million family cars every year. That’s one car
every 12 seconds. Maruti drove up head and shoulders above
every major global auto company. Yet, Maruti’s story was not
just about making a mark, it was about revolutionary cars
that delivered great performance, efficiency and
environment friendliness with low cost of ownership. That’s
what call true value is. Maruti built its story with a belief in
small cars for a big future.
 Maruti Suzuki India limited is a private limited company.

 Maruti Suzuki India limited has 3 plants in india.

 Gurgaon
 Manesar
 Gujarat

 There are also 3 plants in manesar plant.

 Casting Plant
 Engine Plant
 Assembly Plant

 Total No. of cars manufacturing in manesar plant.

 Ertiga
 Brezza
 Ciaz
 XL6
 Wagon R
 S-Presso
 Celerio

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SIP Interim Report

 Dzire

Introduction

Today should be better than Yesterday

And Tomorrow should be better than Today.

The main objective of the internship is to get exposure to the

real business world. This is an ideal way to learn about an
industry and to build a relationship with a prospective
employer as well as giving one a chance to simply hone
his/her skills.
In Maruti Suzuki India Limited my objective is to learn all
about the Reimbursement function and contribute positively
to accomplish organizational goal.
To begin with, my internship commenced from 1st July 2022
and will end on 30th July 2022. In the initial stage of
internship, I was required to fulfil the mandatory on-boarding
procedures. I was issued an identity card on the first day to
work on during my internship period. After completing the
verification process, a manager was assigned under whom I
had to work during my entire internship. The team with
which I was a part of comprises of a Partner, Manger, DPM
(department Manager)

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SIP Interim Report

I work under Sachin Garg (manager) by doing whatever he

needs to be done in accordance to company policies and
procedures.
During this 1 month, I worked on projects- majorly on
Reimbursement of: Hospitalization expenses,
Hospitalization advance, Inland travel, Foreign travel,
Employee Joining & Transfer related expenditures,
reimbursement of travelling expense to TW worker
i.e. from the place of residence to place of company
plant, reimbursement of local conveyance to
employee, Holiday Allowance.

Further in this report, I will be explaining about work done

and key learnings from internship.

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SIP Interim Report

I. MSIL MEDICAL TREATMENT RULES

Title & Comencement: These rules be called as “Maruti

Suzuki India Medical Treatment Rules.
Scope: The rules will apply to:
 Regular employee, existing technician trainees and
advisors but exclude company trainees and company
temporary Workmen.
 Treatment taken by employee or their family is
reimbursable subject to other provision in these rules.

Family:
 Family means spouse and legitimate children.
 Married Daughter will not be part of family.
 Son, even unemployed shall not be part of family at the
age of 30.
 Dependent parents residing with employee and not
having income of more than Rs. 3,50,000/- shall be part
of family.

Domiciliary Treatment:
 Expenses incurred for self and family inclusive of
consolation fees, cost of medicines, diagnostic test-rays

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SIP Interim Report

would be reimbursable up to maximum limit of RS15000/

during a financial year.
 Relaxation on maximum limit will be applicable in
exceptional case when in opinion of CMO not taking
treatment or discontinuing it will be life threatening.
 Tax liability will be borne by employee in case 2.

Payment Procedure:
 Claims will be in prescribed format for reimbursement of
expenses.
 Claim must be submitted within 4 months from date of
completion treatment.
 1 moth prior and 3-month post expenses relating to
diseases for which relating to hospitalization will be
covered as a part of claim.
 In case of dependent parent 10 % of hospitalization
expenses above Rs. 4,50,000. Of approved amount shall
be borne by employee.

Annual Health Check up to MSIL Employee.

 For all employee between ages of 25-30 years, an
awareness Health Checkup will be done once in 5 years
from April to June.

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SIP Interim Report

 For all employee between ages of 30-35 years, an

awareness Health Checkup will be done every alternative
years from April to June.
 For all employee between age of 35 years of age and all
DPM and above, are entitled under the scheme for free
elaborate Annual Health Checkup throughput the year.

Medical Advances.
Scope: The rules will apply to:
 Regular employee, existing technician trainees and
advisors but exclude company trainees and company
temporary Workmen.
 Treatment taken by employee or their family is
reimbursable subject to other provision in these rules.

Family:
 Family means spouse and legitimate children.
 Married Daughter will not be part of family.
 Son, even unemployed shall not be part of family at the
age of 30.
 Dependent parents residing with employee and not
having income of more than RS 4,50,000 shall be part of
family.

Steps to be followed for medical advances.

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SIP Interim Report

 An employee has to get an estimate of bill prepared

from the bank in which treatment of the patient has to
be done.
 After getting an estimate prescribed format has to be
filled by employee with his/her signature and signature
of DPM.
 Then estimate has to be presented before the Doctor as
appointed by the company.
 Keeping in view the policy or guidelines CMO approve
the amount as it thinks right.
 Then it presented in the finance department where a
cheque is issued in name of HOSPITAL.

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SIP Interim Report

DOMESTIC TRAVEL POLICY

Policy Principle: The policy has been framed based on

following principles to be followed by affected parties.
 Every employee whosever travels on account of
company business must be safe, productive and
comfortable.
 Travel should be undertaken only when there is business
rationale.
 Every employee must excise sound business judgment
to control spending on each trip.

OBJECTIVE:
 While this policy provides a framework and tool to
administer travelling expenses, the real saving and
control rest with individual employee and approving
authorities.
 If the business can be transacted in more economical
way such as use of telephone, conference etc., and
travel must be avoided.

APPLICABILITY:
 The rule shall apply to regular employee of MSIL
except temporary workmen apprentice training
worker.
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SIP Interim Report

Classification By air By train

Tw/Apprentice N.A 3rd AC
Associates N.A 3rd AC
AM to MGR If travel distance is less than 2nd AC
350 km (no approval required.)
If travel more than 350
km(approval required)
SMGR/DPM Economy Class 1st Class
or 2nd Ac
DDVM/SFM Economy Class 1st AC
MD/Chief Business class 1st Ac
Mentor/SR EO

 Employee can also travel by road for shorter

distance either by public transport /taxi or own
vehicle as per guidelines below:
 In case of public transport and taxi
Reuimbersmnet will be actuals supported by
necessary submission of bills.
 In case any toll taxes are paid during the journey, it
will reimbursed upon actual submission of bills.

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SIP Interim Report

 In interest of safety and security, employee is

advised to avoid late night self-driving.
DAILY ALLOWANCES

The rate of Reuimbersmnet of certain expenses incurred by

the employee for performing Company’s duties away from
the normal place of work and residence shall be as follows:

CLASSIFICATION DAILY ALLOWANCES

TW/Apprentice INR 550
AE to SE INR 650

AM TO MGR INR 950

SMGR/AGMDPM INR 1350

DDVM/DVM INR 1600

EO/SR EO/CHIEF INR 2100

MENTOR /MD

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SIP Interim Report

LOCAL CONVIENCE

 Conveyance is given for all local travel by while

performing official duty except in case of daily travel
from home to office and vice versa.
 Conveyance Reuimbersmnet will be on actual basis as
approved by the controlling officer.
 Conveyance reimbursement by own vehicle & claim
under leave travel allowance have to rate as follows:

MODE OF TRAVEL RATE PER KM

Four Wheeler INR12

Two Wheeler INR6

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SIP Interim Report

FOREIGN TRAVEL POLICY

POLICIY PRINCIPLE:
 Every employee whosoever travel on account of
company business must be safe, productive and
comfortable.
 Travel should be under taken when business is
rationale.

POLICY DETAILS

HOTEL ACCOMDATION:

LEVEL Lodging-hotel accommodation (per day rates)

COUNTRY GROUPS
HAMAMTASU Rest of Euro Rest of
(In Yen) japan Countries Countries
(in (In euro) (in US)

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SIP Interim Report

yen)
Below DPM Y 19200 Y 21000 155 $175

DPM/FMGR Y 19200 Y 24000 175 $200

DDVM Y 19200 Y 24000 175 $200

SR.DDVN,EO Y 19200 Y 26000 265 $300

AND ABOVE

DAILY ALLOWANCE
Daily allowance will be applicable from the time of arrival at
the destination country from India and departure from the
destination country to India as per the time of arrival and
departure mentioned below.

Arrival/Departure Time DA Entitlement

Arrival at Before/at 12 Full day DA
Destination noon
After 12 noon Half day DA
Departure from Before/ at 12 Half day DA
Destination noon
After 12 noon Full day DA

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SIP Interim Report

TW TRAVEL POLICY

OBJECTIVE:

The objective of company is to provide Reuimbersmnet of

travelling expenses from the place of residence to place of
company plant.

PROCEDURE:

 TW worker has to fill the prescribed format.

 In case of train travel, in order to claim the bill, the
original bill shall be attached with the prescribed
format.
 In case of bus travel, the original ticket should be
attached with prescribed format.

MAXIMUM LIMIT:

 In case of bus travel, bill amount. In case any amount is

paid for over luggage then bill should be attached with
format in order to claim.
 In case of train ticket, original train ticket should be
attached.
 In case of auto travel, maximum of Rs130.

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LEAVE TRAVEL ALLOWANCE

OBJECTIVE:
The objective is to provide the leave travel allowance to the
employee.
APPLICABILITY:
 Lta is applicable for all the permanet employee of the
company.
POLICY:
 Employee can avail the benefit the leave travel
compliance either 2 times in 4 years or 1 time in 1 year.
 The allowance shall be equal to the basic salary of the
employee.
 The employee have to travel within India to avail such
beenfit.
 Family includes spouse,childrens,parents.
 In case employee avail Lta then the amount claimed
shall be Non-taxable.
 In case employee do nt avail the lta then the amount
shall be trated as income and be taxable under the ACT.

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Key Learnings and Achievements:

The projects discussed above helped me to gain vast

knowledge and experience related to working in a corporate
world. Some of the key learnings and achievements are listed
below:
Gained knowledge related to Reuimbersmnet
expenses of employee.
Conducting meetings with the client.
Improved communication skills
Maintaining larger database of client’s documents
Understanding work culture prevailing within an
organization
Maintaining relations with other employees.

With this internship, I hope to gain experience in the field. I

learned a lot related to this field in mere 2 months by talking
to various people that have a wide variety of experience in
the field. I improved my communication skill by talking to the
people in the field and calling them for confirming the
meeting’s schedules.

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SIP Interim Report

Limitations of the Study:

During the Internship period, I faced certain problems that

are listed below:
 No document can be kept with the department. If
document is correct then must be validated on the same
day. If document is not as per requirement then it is to
be send to concerned employee within day.
 Payment can’t be made through cash or cheque. It is
done on the through net banking.

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