Employee Travel and Expense Policy

1. Purpose

The purpose of this policy is to establish clear guidelines for employee travel and expense reimbursement, ensuring cost-effective, efficient, and transparent travel arrangements.

2. Scope

This policy applies to all employees of Sunbeam Elastomers Pvt. Ltd. who are required to travel for business purposes, including meetings, training sessions, client visits, or conferences.

3. Objectives

a) To define procedures for booking and approving business travel.
b) To establish guidelines for reimbursing travel-related expenses.
c) To ensure travel expenses are managed effectively and align with company budgets.

4. Policy Guidelines

1. Travel Approval:
a) All business travel must be pre-approved by the employee’s reporting manager and department head.
b) A Travel Request Form must be submitted with details of the purpose, destination, duration, and estimated costs.

2. Booking and Arrangements:
a) Employees are encouraged to use the company’s designated travel vendor or platform for booking tickets and accommodations.
b) Air travel for distances over 2000 km will be booked in economy class unless otherwise approved.
c) Hotel accommodations will be arranged based on the employee’s designation and the duration of travel:

(i) Mid-range hotels for employees and staff.

(ii) Business-class hotels for senior management.

Note: Employees must pre-plan their travel at least 10 days in advance and submit the budget for approval from the Accounts Department.

A. Travel Reimbursement

B. Local Conveyance

C. Advance Payments

D. Accommodation

Travel Advances

• b) Employees may request a travel advance to cover expected expenses, subject to approval.
• b) Advances must be settled within 7 days of returning from the trip, with proper receipts and expense details.

Reimbursable Expenses

1. Transportation:

• a) Airfare, train tickets, taxi fares, and car rentals for official travel.
• b) Personal vehicle usage will be reimbursed as per the company’s mileage rate Rs. 3/km for 2 wheelers.Rs. 8/km for 4 wheelers.

2. Lodging:

• a) Hotel charges within approved limits, including taxes.
• b) Expenses for additional facilities will not be reimbursed and only depends on management decision as for scenario.

3. Meals and Incidentals: Daily meal allowances will be specified based on the destination (domestic or international).

4. Other Expenses:

• a) Internet charges & parking fees where applicable.
• b) Business-related phone calls and utilities.

Non-Reimbursable Expenses

• b) Alcohol, personal entertainment, and non-business-related purchases.
• b) Fines, penalties, or damages incurred during travel.
• b) Unauthorized upgrades or services beyond approved budgets.

5. Roles and Responsibilities

1. Employees:

• a) Submit travel requests and expense reports promptly with all supporting documents.
• b) Ensure expenses align with the policy guidelines.

Managers:

• a) Approve travel requests based on business requirements and budget considerations.
• b) Review and approve expense reports submitted by team members.

Finance Department:

• a) Process travel advances and reimbursements promptly.
• b) Conduct periodic audits of travel expenses to ensure compliance.

6. Expense Reporting:

• a) Employees must submit an Expense Report within 7 days of completing the trip.
• b) Reports must include:

i) Original receipts or invoices.

ii) Itemized details of expenses incurred.

• c) Expenses without proper documentation may not be reimbursed and advance amount pay to employee will be deducted in upcoming month salary.

7. Key Provisions:

• a) Cost Optimization: Employees are encouraged to choose cost-effective options without compromising safety or efficiency.
• b) Policy Violations: Any misuse of the travel and expense policy may result in disciplinary action.
• c) Emergency Travel: Emergency travel requests will be fast-tracked for approval and arrangement.

8. Monitoring and Reporting:

• a) The Finance Department will maintain records of all travel expenses and provide quarterly reports to management.
• b) Patterns of excessive or non-compliant expenses will be reviewed for corrective action.

9. Review and Amendments:

This policy will be reviewed annually or as required based on operational needs and employee feedback. Amendments will be approved by the Board of Directors.

Approval:

This Employee Travel and Expense Policy has been approved by the Board of Directors of Sunbeam Elastomers Pvt. Ltd. on 1st January 2025.

This policy ensures efficient, compliant, and transparent management of employee travel and expenses at Sunbeam Elastomers Pvt. Ltd.