Relocation PolicyLast Reviewed- 24th September, 2012

Objective

To provide for relocation assistance to employees with boarding and lodging support for

a defined period of time.

Eligibility

All Full Time Employees.

Provision Snapshot

Level/Grade

Scouting Trip

Actual Travel(Air fare from

place of relocation to JPMC Work

Location)

Expense Allowance

(When accommodation

is provided)

Expense Allowance

(when accommodation is not provided/

Self Arrangement)

Transitof

Goods

VP & ED(603&604)

Rs 400/- per day (single stay)

Rs 800/- per day (family stay)

Rs 1000 per day (single stay)

Rs 2000 per day (family stay)

Actuals(Maximum of Rs 75,000/-)

AVP(602)

Actuals(Maximum of Rs 50,000/-)

PM(601)

Actuals(Maximum of Rs 40,000/-)

TL/Analyst/TS(5XX)

Actuals (Maximum of Rs 25,000/-)

TM/STM/ OA(4XX)

Actuals (Maximum of Rs 15,000/-)

Table No.1

*Family is defined as spouse and two dependent children

Expense Allowance Grid

Hotel Provided by JPMC

Food & Laundry Provided by JPMC

Expense Allowance Provided

Expense Allowance amount per day

Not Applicable

Rs. 400 for single stay & Rs. 800 for family stay

Rs. 1000 for single stay & Rs. 2000 for family stay

Table No.2Note:- The above expense allowance is all inclusive and no more reimbursements for any kind of

expense will be provided

If the company is paying directly to the hotel for any other expense (e.g. Meals, laundry etc.) besides the cost of the accommodation, the employee will not be eligible for any expense allowance.

Provision Details

The relocation procedure is divided in below mentioned stages:-

1. Scouting/Preview Trip2. Actual Travel3. Hotel Stay4. Transit of Goods

1. Scouting Trip

Scouting or preview trip is defined as a trip made by self (employee), spouse and 2 children (Nursery to 10 +2) to search for a residence/accommodation and school for children prior to joining JPMCEligibility

Process Managers (601) and above.

Coverage

Economy class airfare (to and fro) from current place of employment/residence to JPMC Work Location for self only.

3 days of hotel stay inclusive of boarding and lodging (in a standard room) at a hotel( list of JPMC approved hotels)

2. Actual Travel

Actual travel is defined as travel undertaken by self and family prior to a day before

joining JPMC.

Eligibility

TMs (4xx) and above.

Coverage

Economy class airfare from current place of employment/residence to Mumbai/Bangalore for self and family.

3. Hotel Stay

Hotel stay is defined as a period of hotel accommodation provided by JPMC starting

from a day prior to joining.

Eligibility

TMs (4xx) and above.

Coverage

2 Weeks of hotel stay inclusive of boarding and lodging for self and family from a day prior to joining JPMC for employees who are not eligible for scouting trip and also for employees who are eligible for the scouting trip and have availed the same.

3 Weeks of hotel stay inclusive of boarding and lodging for self and family from a day prior to joining JPMC for employees who are eligible for scouting trip and have not availed the same.

Food for the family is covered in the hotel stay for the eligible period. This would include Breakfast, Lunch, Dinner and Tea(twice a day)

Other Important Points

a. HRA is payable to employee during the hotel stay.

b. For relocation pertaining to New Hires, the hotel stay is subject to tax from the

first day till the total duration of stay. JPMC will bear the tax liability for the first 14

days of Hotel stay. For any additional stay exceeding the first 14 days the tax

liability shall be borne by the employee. The respective LoB Recruiter/HR BP

needs to inform the payroll so that the tax deduction can be made.

Relocation Lump sum-"Relocation amount for Campus Hires may be provided through a lump sum and

may be different from the entitlements mentioned in this policy. The Relocation

lump sum for Campus hires would be in lieu of the Hotel Stay and related

incidentals."

c. For relocation pertaining to Existing Employees, the hotel stay is not subject

to tax for the first 14 days. If the hotel stay exceeds beyond the first 14 days then

the total number of days starting from the 1st day of stay is taxable. In this case

the employee would bear the tax liability for the whole period of the Hotel Stay

starting from the first day when it extends beyond the first 14 days. The

respective LoB HR BP needs to inform the payroll so that the tax deduction can

be made.

d. Expenses and the related tax liability incurred on any stay in the hotel above 3

weeks will be borne by the employee in accordance with Section 3b & 3c,

whichever is applicable.

4. Transit of Goods

Transit of goods is defined as all transit expenses on packing, transportation and

unpacking of the household goods of the employee.

Eligibility

TMs (4xx) and above.

Coverage

For Grades 601 and above all transit expenses on packing, transportation and

unpacking of the household goods of the employee by the shortest route, will be

paid on actuals up to a maximum limit as per entitlement (see Entitlement Grid),

subject to production of bills upto a maximum of one truckload/ container of

goods and transfer of one personal car if any.

For Grades 5xx & 4xx all transit expenses on packing, transportation and

unpacking of the household goods of the employee will be, paid on actuals up to

a maximum limit as per entitlement(see Entitlement Grid), subject to production

of bills. Transfer of personal car does not apply to the grades 5xx & 4xx.

* Entitlement Grid for Transit of Goods

Level/Grade Transit of Goods Entitlement

VP (603&604) Actuals (Maximum of Rs 75,000/-).Transfer of one Personal Car.

AVP (602) Actuals (Maximum of Rs 50,000/-). Transfer of one Personal Car.

PM (601) Actuals (Maximum of Rs 40,000/-). Transfer of one Personal Car.

TL/Analyst/TS (5xx) Actuals (Maximum of Rs 25,000/-).

TM/STM/ OA (4xx) Actuals (Maximum of Rs 15,000/-).

Table No.3 The employee should use the services of organization-empanelled agencies for

relocation purposes. All transit will be done from and to the address as specified by

the employee during his joining or in his application form that he/she needs to

furnish for the same.

Prevalent perquisite tax rate would be applicable on Transit of Goods which shall

be absorbed by JPMC.

Reimbursements

All expenses incurred on relocation (expenses on air fare, hotel accommodation,

packing, transportation of goods etc) have to be supported with relevant bills, which

need to be verified by the Recruiter and approved by the Senior HRBP.

Expenses incurred on alcohol and personal expenditure such as personal phone

calls etc are not reimbursed by the organisation.

The employee can also claim reimbursement of the taxi fare from his/her residence

to the airport/ railway station and from Mumbai/Bangalore airport / railway station to

the hotel subject to production of bills.

Airfare reimbursement needs to be supported by Ticket/e-ticket along with the

boarding pass.

Note

1. Family is defined as Spouse and two dependent children.

2. Air fare for self and family at the time of joining and also for travel at the time of

finalization of house will not be taxable in the hands of employees but the proofs

needs to be maintained and this will be liable to FBT .

3. Expense Allowance

The expense allowance is all inclusive and no more reimbursements for any kind of expense will be provided. If the company is paying directly to the hotel for any other expense (e.g. Meals, laundry etc.) besides the cost of the accommodation, the employee will not be eligible for any expense allowance. Expense allowance is subject to FBT and is borne by JPMC. The proof for expenditure need not be maintained by the employee.

4. Relocation amount for Campus Hires may be through a lump sum and would be

different from the entitlements mentioned in this policy. The Relocation lump sum for

Campus hires would be in lieu of the Hotel Stay and related incidentals.

FAQs

1. My family consists of my spouse, one child and a dependent mother. Is my mother

eligible for relocation airfare and hotel stay?

Ans: - As the definition of family does not include a dependent mother hence she is not

eligible. The Senior HRBP of the particular LOB needs to be consulted to find out further

possibilities.

2. Is food for my family covered in the Hotel Stay?

Ans: - Yes

3. Will I get Expense allowance if I am availing the food & laundry at the hotel?

Ans: - No.

4. Is laundry expenses included in the Hotel Stay?

Ans: - Yes.

5. I have not availed of the Scouting Trip and I am eligible to stay for a maximum of 3

weeks in the hotel. Will I be taxed?

Ans: - Yes as per prevalent tax laws.

6. Do I need to furnish the bills for my expenses if I am claiming expense allowance?

Ans: - No

Annexure-Relocation Process Flow

Recruiter sends a copy of the Relocation Policy and list of JPMC approved Packers & Movers to the Candidate. Recruiter clarifies doubts if any regarding relocation

Candidate approaches Packers & Movers to get quotations for Transit of Goods

If Packer & Mover is not approved by JPMC Candidates gets quotation and settles bill directly with Packer & Mover on Relocation

Candidate sends travel schedule to recruiter one week before joining

Recruiter initiates mail seeking Manager’s and HRBP approval on accommodation

Procurement confirms hotel bookings to the recruiter

Offer made to candidate

JPMC approved Packers & Movers send quotations to candidate with a copy to Procurement

Candidate is okay with quotation

Candidate marks quotation to HR and Procurement for approval

Procurement directly settles bills with Packer & Mover once the candidate relocates

Relocation Process Flow

Recruiter sends accommodation details to the candidate

Recruiter forwards Manager’s approval to Procurement to make necessary hotel arrangements

Bills, Tickets in support of Travel, local conveyance, Bills for Transit of Goods and expense allowance are sent to Accounting services. Copy of approvals is attached.

Candidate joins

Employee claims reimbursement online through Oracle i-expense for the following

1. For travel and local conveyance2. Expense allowance reimbursement3. Reimbursement of Transit of Goods

(only if settled by employee directly)

Expense claims are approved by Ops Leads and LOB Head online.