Relocation Policy

1. Introduction

The purpose of this relocation policy is to provide guidelines and assistance for
employees who are required to relocate as part of their employment with KISETSU
SAISON FINANCE INDIA PVT LTD. This policy outlines the relocation benefits, eligibility
criteria, and the process to ensure a smooth transition for the employee and the
company.

2. Eligibility

2.1. Employee Eligibility

This policy is applicable to all Full-Time Employees of Kisetsu Saison Finance India vt. Ltd
as per the below-mentioned criteria

New Joiner:
● If the relocation allowance is specified at the time when an offer is issued to
the employee
Existing Employee:
● An employee has been offered a base location and later requested to
move to another location during his/her association with the company
● When an employee is transferred to another location based on the
organization's needs, and the tenure of stay in the new location will be for 6
months and beyond
Combination
● Wherein a situation arises that the employee has been provided with
relocation during the joining and is later requested to move his/her base of
operations to another location which includes such cost of relocation.

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2.2. Relocation Types
This policy covers various types of relocations, including but not limited to:
a) Domestic Relocation: When an employee is required to relocate within the
same country.
b) International Relocation: When an employee is required to relocate to a
different country.
c) Temporary Relocation: When an employee is temporarily relocated for a
specified period [06 months or more]

3. Relocation Benefits

3.1. Pre-Relocation Support (For International Relocation

Only)
● Visa and work permit support for international relocations.
● Orientation and cultural training to help employees acclimate to the new
location.

3.2. Travel & Shipment of Personal Belongings

● Travel Reimbursement to the new location shall be extended to the
employee and to his /her immediate family members (Self, Spouse, and up
to 2 kids), through any mode of travel (Air/Road/Train) and inter-city travel
cost associated with the relocation.
● If an employee chooses to travel to the new location in their own vehicle,
fuel charges shall be reimbursed.
● Transportation costs associated with the shipment of personal belongings
are applicable for reimbursement.

3.3. Accommodation
● The employee will be provided with hotel accommodation for the first 7
days from the date of relocation on a single occupancy basis, to allow him/
her to find suitable accommodation in the new location. This

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 accommodation is excluded from the overall relocation cost and will not be
billed to the employee [ for anything below 7 days ]
● In case of an employee staying beyond the 7 days at the hotel, the
employee shall bear the cost on actuals.
● In the event the employee is accompanied by immediate family members,
the accommodation cost for the family members will have to be borne by
the employee
● In case the employee decides to stay at a place of their choice and does
not avail of this option with the facility that the organisation provides then
he/she will have to forego this and will not be compensated in the form of
reimbursement or the cost cannot be swapped for the other
accommodation

4. Process Flow

4.1 Approvals
The proposal to offer relocation allowance must be approved in writing by the
People & Culture Head and the HOD before any expenses will be authorised.

4.2 Offer Acknowledgement

An offer of relocation allowance will be made by People & Culture following
approval. This offer must be signed and returned by the individual concerned to
acknowledge acceptance of the terms set out in this policy, before any claims for
payment may be processed.

4.3 Commencement
Once an offer of relocation allowance has been accepted, relocation should
commence as per the following :
● New Joiner - within 3 months of the joining date
● Existing Employee - within 1 month of relocation date

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The company reserves the right to withdraw the benefit if evidence of relocation is
not submitted within this timeframe, or if prior authorization for a delay has not
been given to the People & Culture. In such cases, it will be up to the People &
Culture Head to approve such delays.

4.4 Reimbursement of costs

● All claims for relocation reimbursement must be submitted via the
Expenses System [Oracle].
● All receipts must be scanned against each claim for approval and
company recording purposes.
● Relocation expenses will be reimbursed via the company's payroll,
providing they constitute an approved expense.
● Reimbursement of Relocation Costs follows a 15-day cycle. All claims
submitted before the 15th of the month will be disbursed in the same
month and claims submitted post 15th will be disbursed in the subsequent
month’s payroll.
● The maximum time period to Submit such relocation expenses incurred will
be 30 Days from the date on which the expense was incurred. Any claims
submitted beyond this period will not be reimbursed and the relocation
clause will be nullified.
● Where the expenditure claimed exceeds the approved allowance, then
reimbursement will only be made up to the maximum of the relocation
allowance awarded.
● All expenses should be supported by proper receipts and bills and should
be submitted in one go.
● In case of liability arising out of Income Tax under the prevailing Income Tax
rules, such tax will have to be borne by the employee

4.5 Reclaim
Where an employee, who has claimed relocation allowance, leaves the
employment of the company by reason of resignation, or as a consequence of
misconduct or breach of contract within 1 year* then the company will reclaim the
relocation allowance in full from the employee

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Therefore, acceptance of an offer of relocation allowance includes an agreement
with the company to recover the reimbursable amount from the notice period
and final payment. Where the employee’s final pay is insufficient to repay the
amount in full, then the remaining balance will be due immediately via direct
payment to the company. Where applicable, the payroll department will contact
individuals should a balance be outstanding following the final payment.

*1 Year counted For new joiners from their date of joining and for existing
employees from the date of such disbursement
*1 year duration is including the notice period if any

5. Relocation Expenditure- Exclusions

Some specific expenditure is strictly excluded from reimbursement. Examples of
these, are given below:
• Costs of disconnection/reconnection of electrical or other household appliances
• Cost of replacing or purchasing new furniture or other household items or
domestic goods
• Any household cleaning at the old or new property
• Associated costs incurred in obtaining visas/passports
• Removal of motor vehicles, livestock, or pets
• Payment of council tax and day-to-day utility costs
• Compensation for any loss of sale on the employee’s home
• Interest payments for the mortgage on the employee’s existing home
• New school registration fees or purchase of school uniforms
• Joining fees for new sports or social clubs
• Any refundable deposits
Those mentioned above are just examples and we have kept them brief, for any
questions on exclusions other than these please contact your People Partner

6. Eligibility Matrix*

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 Group ELIGIBILITY

G3 (VP and above) Rs 1,00,000.00

G2 (Senior Managers to Deputy VP) Rs 75,000.00

G1 (Associates to Managers) Rs 50,000.00

Add G1, G2, G3 definition

7. Policy Compliance

● Employees are expected to adhere to the guidelines and procedures

outlined in this policy.
● Any misuse or misrepresentation of Relocation Allowance may result in the
employee being required to reimburse the company for such expenses
incurred in full and/or face disciplinary action as deemed appropriate.

8. Policy Review

This relocation policy will be periodically reviewed and updated to ensure it

remains in line with the company's goals, regulations, and industry best practices.

Please note that this relocation policy serves as a general guide, and specific
details, eligibility criteria, and benefits may vary based on individual
circumstances and the company's requirements. Employees are encouraged to
consult the People & Culture department or the designated People Partner for any
additional assistance

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