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Version Number
1.6
15-Dec-2014
Process Owner
Applicability
Objective:
To provide financial support to the employees towards:
House Deposit Advance
Medical Exigency for employee and immediate family members
Company Leased Accommodation
Advances for employees with disabilities for buying aids / appliances /assistive devices for Personal Use
Scope:
Applicable to all eligible permanent India based employees in the organization.
Medical Exigency
The employee can avail the advances facility for self and the employees immediate family members any time
during their tenure with the organization. Immediate family members shall include employees father,
mother, spouse, and children only.
One months gross salary or actual amount requested, whichever is lesser, will be sanctioned and will be
recovered in ten equated monthly installments (EMI) immediately from the subsequent payroll month.
Employee needs to raise a query through PeopleSoft CRM
https://pshrms.corp.mphasis.com/psp/PTL91PR/?cmd=login&languageCd=ENG; and follow the navigation:
PS CRM->Main Menu -> Self Service-> HR Help Desk-> Add Case -> Category (Select - Advance Policy) ->
Specialty Type (Select Medical Exigency) -> Details (Select Eligibility/Process)
The following documents are to be submitted while raising the query:
Medical test reports pre-hospitalization
Discharge report post hospitalization
Managers Approval mail
Note that medical bills and doctors certificate will not be considered for Medical Advance.
After required validations are completed the employee details and the approved amount is shared with
Finance for releasing it to the respective employees bank a/c.
Advances Policy |
If employee is deputed to another country (long-term assignment) or during the time of cessation of services,
the outstanding loan amount needs to be settled as part of the full and final settlement.
After required validations are completed the employee details and the approved amount is shared
with Finance for releasing it to the respective employee bank a/c.
Exception Approval
All exceptions to the policy have to be approved by the Process Lead, Global Compensation and Benefits. Terms
and conditions of this policy are subject to revision by the Management.
Version
Number
Date
1
2
1.0
1.1
1-Apr-2009
15-Jun2010
1.2
20-July2011
1.3
1.4
1.5
1.6
Advances Policy |
Sections
Affected
---Objective
and Policy
description
Policy
description
Initial Draft
Inclusion of advances for employees with
disabilities
4-Nov-11
Policy
description
1-March13
22nd
August-13
15th
December 14
Exception
Approval
Update on
the PS link
Exception
Approval