I the undersigned -----------------------------, in consideration of my employment by Fourfront Pvt Ltd.
, in India or any of their
subsidiaries, hereinafter referred to individually and collectively as "Company" and in consideration of the salary, wages and other
benefits received by me during this employment, hereby agree that:
Purpose : The purpose of this policy is to manage accountability for the lost and damaged assets in the Department. The objectives
of this policy are to:
To facilitate the process of the lost assets
To inform the employees about the management of lost assets.
To alert the employees about the implication of not taking care of assets.
Scope:This Policy and the procedures herein affect all employees who use assets for official purposes.
Policy Statement : Asset Management is the process of guiding the acquisition, usage, safeguarding and disposal of assets to
make the most of their service delivery potential and manage the related risk and costs over their entire life.A policy has been
formulated to come up with a mechanism which will assist assets practitioners and users of movable assets on what should he done
if a movable asset is lost or damaged and on which circumstance the user is required to pay the book value of the lost or damaged
movable asset.
Procedure to handle movable assets: To ensure physical security of asset and data therein, all employees are required to
undertake the following actions:
1.The physical security of Company provided laptops is the employee’s personal responsibility. He/she is therefore required to take
all reasonable precautions, be sensible and stay alert to the risks.
2.Keep your movable asset in your possession and within sight whenever possible, just as if it were your wallet, handbag or mobile
phone. Be extra careful in public places such as airports, railway stations or restaurants. It takes thieves just a fraction of a second
to steal an unattended movable asset.
3.Never leave the movable asset unattended when using it outside the office.
4. Lock the movable asset away out of sight when you are not using it, preferably in a strong cupboard, filing cabinet or safe. This
applies at home, in the office or in a hotel.
5.Never leave a movable asset visibly unattended in a vehicle. If necessary, lock it out of sight in the trunk or glove box but it is
generally much safer to take it with you.
6.Carry and store the movable asset in a padded movable asset bag or strong briefcase to reduce the chance of accidental
damage.
7.Employees may not take the movable asset for repair to any external agency or vendor at any point of time.
8.In case of any failure, employees are required to report the same to the IT dept.
9.In case of the loss of movable asset- be it on, or off Company premises, due to negligence of the employee, the Company may
recover the cost of the movable asset from the employee. It is the Company’s discretion to impose further penalties on account of
loss of sensitive Company information.
10.Company maintains the right to conduct inspections of any computer equipment, including all laptop it owns or manages
without prior notice to the Employee who is at the time the user or custodian of such computer equipment. Employee will submit the
laptop for random audit by Company in order to check the physical presence as well as the functional usability of the asset.
11. In case of leaving the employment or being terminated for any reason, employee will hand over the asset to Company in good
condition failing which Company is authorized to charge penalty against the employee.
Procedure to handle lost or damaged movable assets:
w All assets stolen or lost should be reported to IT head within 12 hrs.
w Where employees are found liable for the loss or damage, employees will have no option but to pay for such movable asset. The
employee may be liable to pay the damages at cost to the Company / the same may be deducted from their monthly salary.
w Damaged assets will be repaired if the cost to repair is not more than 50% of the replacement value for such asset. Where the
cost is more than 50% the asset will be disposed but the cost thereof will be recovered from the employee.
w The payment will be based on the cost of the new asset.
w The maximum repayment duration will be 2 months.
It is therefore, reiterated that the employees are required to take due care while handling the assets of the company, while on duty
or otherwise. In case of systems handed over from one employee to another, it is a MUST for the employee taking over the asset,
to check and verify the physical condition and working of the acquired system. An “Asset handover/takeover form” will have to be
signed off by both parties. Any issue later on will not be entertained by the IT department and the cost of repair or new purchase
due to damage to the current system, will have to be borne by the taking over employee.
I hereby declare that I have read & accept the terms & conditions mentioned above.
Employee’s name: ----------------------------------------------------- Employees Signature: -------------------------------------------------
Authorised Name: ------------------------------------------------------ Authorised Signature: ------------------------------------------------
