Senior Executives at the level of AGM & above are entitled for following amenities for Office at Residence.

1.0 FURNISHING OF OFFICE
1.1 The ceiling for furnishing office at residence excluding cost of AC shall be as under for items listed at Annexure:

Note:- In case of elevation/promotion to the next higher grade or revision of monetary ceiling, the executive shall be entitled for differential amount.

1.2 Procurement.
1.2.1 The Furniture/furnishing items etc. as per entitlement are ordinarily be procured and provided at their residential offices by the Corporation. However, if a officer so chooses, he may purchase the same from a bonafide supplier of his choice and forward the bill to the Company for payment to the supplier concerned. Alternatively, the officers can also ask for advance and submit the bills for adjustment.

1.2.2 While purchasing furniture/furnishing etc. if an officer exceeds his entitlement, he has to bear the excess/additional amount himself, restricting the company’s liability to the extent of his entitlement at the time of purchase.

1.3 Maintenance
The repairs and maintenance of the furniture items shall be undertaken by the Company/Executives. For replacement of upholstery and cushions etc. of Sofa-Sets, polishing/painting of furniture at Residential Offices, the amount admissible for such repairing and maintenance shall be restricted to 25% of the original cost of the item. The reimbursement will be at actuals limited to the ceiling, subject to production of bills. The time-span for repairing of Sofa Set etc. is indicated below:

1.4 Purchase/Buy-Back

1.4.1 Life Span and Rate of Depreciation of items purchased under Monetary Ceiling is given below:

Items not listed above shall be determined with the approval of CMD alongwith Rate of Depreciation & Life Span

1.4.2 Items purchased under Monetary Ceiling Schemes shall be compulsorily buy back by concerned executives on superannuation/separation on account of expiry of tenure or resignation at depreciated value or 10% of the original cost of the items, whichever is higher. In respect of curtains and carpets 10% of original cost is to be recovered but no recovery is to be made after expiry of 5 years from purchase.

1.4.3 Serving employee shall have the option to buy back the items on expiry of the life span at depreciated value or 10% of the original cost of the item whichever is higher. Replacement shall be provided for items, which have been bought back on expiry of its life span or option to continue with the existing items even after expiry of life span. In respect of curtains and carpets no recovery is to be made after expiry of 5 years from purchase.

1.4.4 The depreciation of all items other than Mobile Phone shall be calculated on straight-line method and at the time of expiry of its life span the difference between depreciated value and the buy-back price as per books, if any shall be written off.

1.4.5 The depreciation of Mobile Phone shall be calculated on proportionate basis with reference to their life span.

1.4.6 Full year depreciation for the financial year shall be counted/allowed for all the items in the year of its purchase and year of buy back.

2.0 ELECTRICITY CHARGES FOR AC/RADIATOR
2.1 The ceiling for Electricity Charges for AC/Radiator at Residential Office shall be as under:

3.1 Expenditure on account of entertainment at Residential Office shall be reimbursed as under:

4.0 EXPENDITURE FOR ATTENDANT
4.1 Chairman & Managing Director/ Full-time Directors shall be entitled for one Company’s Attendant at Residential Office or reimbursement of expenditure for one attendant as per payment of Minimum Wage Act on certification basis.

5.0 BUY-BACK OF CAR ATTACHED TO CMD/DIRECTORS
5.1 The CMD/Functional Directors may Buy-Back the car attached to them on superannuation at the depreciated value or 10% of Original cost whichever is higher subject to car having clocked 45,000 KMs Mileage.

5.2 The Life Span and Rate of Depreciation of Car attached to CMD/Directors shall be 5 years and 20% respectively.

5.3 In case the mileage of Car is less than 45,000 KMs an additional amount equivalent to 5% of original cost for every shorfall of 5,000 KMs shall be recovered.

5.4 Corporate P&A Department will issue mileage certificate in respect of vehicle attached to the CMD/Directors for Buy-Back on the basis of Log-book/record.

5.5 The above facility shall be allowed only once in entire career to CMD/Functional Directors who have not availed similar facility in some other PSU’s/Govt. Organization.