1. Purpose:
The purpose of this Expenses Policy is to establish guidelines and procedures for the reimbursement of expenses incurred by employees of MAK Integrated Services Limited. This policy aims to ensure that expenses are reasonable, necessary, and properly authorized.
2. Eligible Expenses:
a) Employees may claim expenses related to business travel, accommodation, meals, entertainment (with prior approval), equipment or supplies required for work purposes, and any other necessary business-related expenses.
b) All expenses must be directly related to the employee’s job duties and aligned with company objectives.
3. Expense Form:
a) All employees seeking reimbursement must complete the standardized Expenses Form provided by MAK Integrated Services Limited.
b) The form should include a detailed breakdown of each expense item along with supporting documentation such as receipts or invoices.
c) Expense claims should be submitted in a timely manner but no later than ten working days after the expense was incurred.
4. Approval Process:
a) Employees are required to submit their completed Expenses Forms to their respective line/operations managers for review and approval.
b) Line/Operations managers will review each expense claim for accuracy, reasonableness, compliance with this policy, and availability of budget allocation before signing off on the form.
c) Operations managers will forward approved forms to the Director for final authorization before processing.
5. Reimbursement Process:
a) Once an expense claim has been approved by the Director or authorized personnel, it will be processed for inclusion in the employee’s next pay run.
b) Reimbursements will be made via direct deposit into the employee’s designated bank account unless alternative arrangements have been made with Human Resources.
c) Employees should allow sufficient time for processing and understand that payment may not coincide precisely with their regular pay cycle.
6. Non-Reimbursable Expenses:
The following items are not eligible for reimbursement under this policy unless specifically approved in advance by management:
a) Personal expenses unrelated to business activities.
b) Expenses incurred without proper documentation or receipts.
c) Expenses incurred in violation of company policies, local laws, or regulations.
7. Compliance and Consequences:
a) Employees are expected to comply with this policy at all times and exercise good judgment when incurring expenses on behalf of the company.
b) Failure to adhere to this policy may result in the rejection of expense claims or disciplinary action, up to and including termination.
8. Policy Review:
This Expenses Policy will be reviewed periodically by management to ensure its effectiveness and relevance. Any updates or revisions will be communicated to all employees in a timely manner.
By adhering to this Expenses Policy, we aim to maintain transparency, control costs effectively, and ensure that employee expenses are managed efficiently while supporting our business objectives
