Advances Policy

Version Number

1.6

Current Policy Effective Date

15-Dec-2014

Process Owner

Head, Global C&B

Applicability

Applicable to all eligible permanent India based employees in the

organization

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.

Effective Date: 15 December 2014

Policy Description:

House Deposit Advance

This is applicable to all new joiners to the organization and employees on company initiated transfers or who
relocate from one location to another (within India). In the case of BPO employees, this policy is applicable to
Level 5 and above.
The employee needs to avail this benefit within 3 months of joining or relocating as the case may be.
Two months gross salary (gross salary is all inclusive excluding PF, Mediclaim and Variable Pay (if applicable))
or the house deposit amount, whichever is lesser, will be sanctioned and be recovered in 10 equated monthly
installments (EMI) immediately from the subsequent payroll month.
The employee will need to raise a query in PeopleSoft CRM after seeking approval from the Manager
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 House Rent Advance) -> Details (Select Eligibility/Process)
Advances Policy

15 December 2014 | Proprietary and confidential information. 2014 Mphasis

 The following documents have to be submitted while raising the query:

HDA Form (Annexure A) and Rental Agreement (Agreement should be dated post date of joining Mphasis)
Managers Approval mail
In case of transferred employees, Transfer Letter should be submitted.
Finance will process the requisition and issue the cheque in favor of the landlord. At the time of cessation of
services, the employee shall get the No Due Clearance from Finance team.
In the event an employee resigns or his / her services are terminated before the completion of the EMIs, then
the balance house rent advance would be adjusted from the settlement amount payable by the Company and
any balance amount to be recovered by the Company shall be paid and settled by the employee forthwith to
get the relieving letter from the Company.
If employee is deputed to another country (long-term assignment) or during the time of cessation of services,
the house rent advances needs to be settled as part of the full and final settlement.

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 |

15 December 2014 | Proprietary and confidential information. 2014 Mphasis

 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.

Company Leased Accommodation

This is applicable to employees in Level 11 & 0 only.
If employee opt to avail the Company leased accommodation, lease deposit will be paid by the Company.
Rentals paid out every month will be deducted from employees salary. HRA will not be paid if employee
avails for Company leased accommodation.
The lease deposit will be ten times the HRA (as mentioned in the salary structure) or actual amount
requested, whichever is lesser.

Advances for Employees with Disabilities

This is applicable to employees with disabilities.
Advances taken under this scheme from the company will be deducted in equal 10 installments from
employees monthly salary.
Disabled persons can avail in the form Interest free loan under this scheme up to a maximum of 2 Lakh/- or
actual amount requested, whichever is lesser.
Loans towards following instruments / aids are allowed are Computer Accessibility devices, Mobility Aids, &
Hearing Aids, retro-fitting of car/bike/scooter to make it disabled friendly.
Maintenance, and repair costs of these devices are the responsibility of the employee.
Employee needs to raise a query through PeopleSoft CRM after the approval from respective leader and
Head-Corporate Social Responsibility)
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 Advances for disable employees) -> Details (Select Eligibility/Process)
The following documents are to be submitted while raising the query:
Disability certificate copy
Copy of invoice/estimate from merchant if any
Managers Approval mail
Head - Corporate Social Responsibilitys Approval mail
Advances Policy |

15 December 2014 | Proprietary and confidential information. 2014 Mphasis

 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.

Annexure to the Policy:

Annexure A: HDA Form

Policy Revision History:

Serial
No.

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

Changes in Brief / Remarks

---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

Raising query through PSCRM to avail the

schemes House Rent Advance, Medical
Exigency and Disability Advances
Exception approval clause added

Omitted-Applicable to Applications, ITO,

Corporate Services under House advances
Under Medical exigency-omitted
Applications, ITO, Corporate Services, and
BPO employees.

The PS link provided in the policy was

outdated .New link has been added.
Corrected to Process Lead, Global C&B.

15 December 2014 | Proprietary and confidential information. 2014 Mphasis