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Property and Equipment Policy

This policy outlines guidelines for employees to follow regarding the use and protection of company property and equipment. It defines company property as any equipment, furnishings, vehicles, buildings, or supplies owned or used by the company. All employees are responsible for maintaining their work areas orderly and using and safeguarding company property properly. Any damage, loss, or theft of company property must be reported within 48 hours. Employees who misuse or damage property will face disciplinary action and may have to pay for replacement of the damaged items. The policy is applicable to all company employees and may be modified by management as needed.

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2K views2 pages

Property and Equipment Policy

This policy outlines guidelines for employees to follow regarding the use and protection of company property and equipment. It defines company property as any equipment, furnishings, vehicles, buildings, or supplies owned or used by the company. All employees are responsible for maintaining their work areas orderly and using and safeguarding company property properly. Any damage, loss, or theft of company property must be reported within 48 hours. Employees who misuse or damage property will face disciplinary action and may have to pay for replacement of the damaged items. The policy is applicable to all company employees and may be modified by management as needed.

Uploaded by

VK
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Company Property and Equipment Policy

Approval by: Effective Date:

Release No. Release Date Last Review Description Authored/ Reviewed by


of change Revised by

1. Purpose
To ensure maximum safekeeping of the company’s equipment, fixed assets and general property

2. Scope

This policy is applicable to all employees of the company.

3. Definition
Property,” as the term is used in this policy, is defined as any piece of equipment, furnishing,
vehicle, building or supply leased, owned, donated or otherwise in the custodial care of the
company or any person acting as its agent.

4. Policy
All company employees must maintain his or her work environment in an orderly fashion and
follow all company rules to ensure its proper use and maintenance.

Employees need to be mindful that all equipment which they use, or has been issued to them to
perform their jobs is owned by company. It is the individual responsibility of all employees to care
for and safeguard this company property and equipment, keeping it in as close to as new condition
as possible. Examples of company property includes motor vehicles, furniture and fittings,
headsets, computer etc.

Misuse of company property includes, but is not limited to, stealing or damaging equipment or
software, knowingly running or installing computer viruses or password-cracking programs,
attempting to circumvent installed data protection methods that are designed and constructed to
provide secure data and information, in any way attempting to interfere with the physical computer
network/hardware, or attempting to degrade the performance or integrity of any campus network
or computer system.

5. Requirements
It is the responsibility of the employee to notify the company within 48 hours of loss/damage/theft
to the item(s), as to the occurrence and/or explanation thereto.
6. Consequences
Any employee who is found to have neglected or misused company property will be subject to
disciplinary action. If an employee’s misuse of company property or damages the property,
company reserves the right to recover the actual cost from the employee or replace the property.

7. Procedure/ Notification
The necessary requirements as stated above needs to be followed by notifying both the IT and
Admin through mail.

8. Disclaimer
The management reserves the right to modify the policy as and when required and also make
exceptions.

Approved by:

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