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What is the eligibility for colleague to avail car lease?
Colleague can avail the lease by opting the EMI as per below grid:
1. Group 3 Colleagues: Lease rental up to a maximum of INR 15,00,000 per annum OR 20% of Fixed Cost to Company, whichever is lower.
II. Group 4 & above Colleagues: Lease rental up to a maximum of INR 40,00,000 per annum OR 20% of Fixed Cost to Company, whichever is lower.
For New car lease, tenure can be for the period of 24 months to 48 months. Can be extended by another 24 months
IV. For used Car lease, tenure can be for the period of 6 months to 36 months.
Most likely. Ideally your monthly emi should be less than the monthly special allowance component on your salary slip.
Reinitiating the old thread!!
What's the benefit here? EMI is interest-free or what?
I am unable to understand