Travel and Expense Reimbursement Policy

Version 2.0 [Discontinued]

1. Purpose

The purpose of this policy is to provide specific guidelines for employee expense reimbursements. As such, expense reimbursements must meet the following criteria:

· Expenses must be related to the activities of the company.

· Expenses must be adequately accounted for within 15 days of making the expense.

· Amounts advanced that exceed the expenses that have been adequately accounted for must be returned to the company within a reasonable period of time.

As long as these three rules are met, expense reimbursements will not be included in an employee’s taxable income.

2. Scope

This policy applies to employees and others who use personal funds to pay for company-related expenses and wish to be reimbursed. Many of the principles also apply to purchases made with McKinley & Rice’s Credit Cards.

3. Responsibility

Employees should familiarize themselves with the types of expenses that are/are not eligible for reimbursement prior to incurring such expenses. Employees may not authorize reimbursement of their own expenses or expenses of supervisors, department heads, etc., to whom they report. An exception is granted for the HR and Chief Operating Officer (COO) who prepare and submit expenses on behalf of others within the department. Ultimate authorization of all expense reports rests with the COO’s Office.

All expenses made for the execution of planned company events such as Video shoots, Official visits, Campus Placement Drives, Marketing Activities, etc. must be approved by the COO at the planning stage of the event by the person responsible.

HR must confirm that expenses and reimbursement requests meet the following criteria:

· The travel expenses were incurred while conducting office activities

· The information contained on the reimbursement form and the documentation attached is accurate and in accordance with company policy

· Original receipts are submitted in accordance with this policy

4. Allowable Expense

Reimbursement will be made for actual and reasonable expenses directly related to conducting company activities. Expenses over 100 INR must be substantiated with a receipt. While expenses under 100 INR do not require a receipt, all expenses, regardless of amount, must include a specific description of the business purpose for the expense.

Reimbursements as a part of the Employee Value Proposition (EVP)-

. Wifi-1000 rs/pm/per person

. PL organized Team Lunches (once every 4 months)- 1000/pp/per lunch

. HR organized BDay and Anniversary Celebration- 1000/per event

. Skilling Allowance (Reimbursement)- 15,000/per year/per person

5. Travel Expenses Caps

Travel expenses include any kind of transportation and accommodation expenses that an employee incurs when going on a business trip or office outing. Expenses related to this category that may be fully or partly reimbursable include:

· Accommodation- Reimbursement for hotel accommodation/guest house of up to 750 per day/per person,

· Legal document expenses (e.g. Visa)- As per actuals.

· Air, train, or other transportation fares- For long-distance travel (travel between cities), the reimbursement would be based on the lowest fare between the cities on the day of booking in Economy Class and 3-Tier AC for Air and Train travel respectively.

· Necessary medical expenses (e.g. vaccinations)- Based on prior approvals

· Local transportation during trips (taxi fares, rental cars, etc.)- For travel within the city, reimbursement for Uber/Metro of up to 500 per person/per day.

· Meals- Reimbursement for meals of up to 200 per person/per meal (maximum 400 per person/per day).

· Other minor or per diem expenses that have been approved by an employee’s manager (e.g.business material)- As per actuals.

6. Unallowable Expense

The company will not reimburse expenses that are inherently personal in nature. Examples of personal expenses which are not eligible for reimbursement include but are not limited to the following:

· Travel insurance costs (travel insurance may be reimbursable if purchased because the traveler has a legitimate concern that s(he) may not be able to travel due to an ongoing health concern)

· Amenities such as movies, health clubs or in-room bars

· Any personal clothing or accessories

· Childcare, babysitting, house sitting, or pet-sitting costs

· Cost differential on premium and luxury car rentals

· Expenses related to non-McKinley activities or personal time off taken before, during or after a business trip

· Fines for automobile or parking violations

· Gasoline receipts for trips reimbursed for mileage

· Grooming expenses such as haircuts and toiletries

· Incremental costs for first or business class airline tickets

· Magazines, books or other personal reading materials

· Membership fees for online social networks, crowdsourcing sites, and content delivery networks (e.g. Amazon Prime, Netflix, LinkedIn)

· Prescriptions, over-the-counter medication or other medical expenses

· Mobile phone accessories (chargers, power cords, cases, etc.)

Note: The purchase of Alcohol will not be reimbursable by the company. Those who wish to purchase alcohol with their meals are expected to purchase alcohol with personal funds.

7. Exceptions

The COO must approve any exceptions to this policy by written notice.