If an agent satisfies CM’s Club entry conditions in the next financial year also, he will be paid an Office Allowance of Rs.20, 000/- or Office Allowance otherwise payable to him (if any) whichever is higher.
Reimbursement without Production of Bills :-
Office allowance is reimbursed to agents of Corporate club, Chairman Club, Zonal Manager Club and Divisional Managers Club who have proved their professionalism and productivity over a period of time and acquired the status of club membership. The concerned member agent has to submit all related original bills/ receipts to claim office allowance, the certified copies of which, is retained by the Branch
it has now been decided by the Competent Authority to allow reimbursement of office allowance without insisting on production of original bills/ receipts for the following:
Corporate, CM and ZM club member agents with minimum 5 years standing in that club or any of the three clubs.
While making payment of office allowance to the eligible club member agent, the office should ensure that :-
Declaration of expenses as per format attached herewith is given by the eligible agent.
Inspection of office is carried out as per existing procedure and inspection report confirming office and required infrastructure is available in the office. ( Inspection of office is mandatory in each and every case)
Income tax, as applicable, is to be deducted at source.
Supporting bills are submitted for claiming reimbursement of telephone expenses.
It has been brought to the notice of eligible agents to preserve the supporting bills/ receipts etc. for at least 5 years after getting reimbursement for the purpose of verification, if required by the office.
Needless to add, while reimbursing the office allowance without the original bills/ receipts etc to the eligible agent, the Competent Authority will apply his wisdom and compare the expenses with that of the previous years. Any unreasonable difference or variation should be scrutinized and clarification with original bills/ receipts may be asked from the concerned agent.