The following benefits are applicable to all full-time employees at Frappe Technologies.
1. Self Owned Laptops
- If an employee wishes to purchase a laptop, the company will re-imburse up-to 50% of the cost. The amount will be added in the person’s salary for a period of 6 months. The company will sponsor a maximum of one laptop for a period of 3 years.
- For employees with less than a year of service, the company will reimburse 50% of the laptop cost or a maximum amount of Rs. 75,000/- whichever is minimum.
- On completing 1 year of service, the company will reimburse 50% of the laptop cost or a maximum amount of Rs. 1,00,000/- whichever is minimum.
- A new joinee can seek reimbursement for their existing laptop, although the laptop cannot be more than 6 months old. Company will reimburse 50% of the laptop cost or a maximum amount of Rs. 50,000/- whichever is minimum, as stated above. The laptop should be purchased before availing the benefit.
- Purchase bill will have to be submitted. They should be on Employee's name.
Note: Applicable once you complete your probation
2. Health Insurance Benefit:
- To encourage everyone to take personal health insurance, company will reimburse an amount of Rs. 5000/- per year.
- Anyone can claim the amount by submitting an expense claim along with proof in any 1 month of the FY.
If you have any questions, please email sydel@erpnext.com or prakash@erpnext.com or post your query on Telegram!
3. Co-working Allowance
- The company will reimburse upto a maximum of Rs. 15,000 + GST per month to those choosing to work in a co-working space by prior approval.
4. Employee Loan
The company would be providing loan facility to its employees with the below criteria:
Eligibility: Employees completing 3 years in Frappe are eligible to apply for a loan
Types of Loan: There would be 2 types of loan that an employee can take
- Personal Loan @ 0% interest
- Home Loan @ 0% interest
Loan Amount:
- Personal Loan - 1 Lac
- Home Loan - 5 Lacs
Repayment Duration:
- Personal Loan would be recovered within a year
- Home Loan would be recovered in 2.5 yrs i.e. 30 months
T&C:
- An employee can take either of one loan at a time
- Personal loan cannot be taken twice for the same reason
- You cannot apply for a home loan twice against the same property
Note: The difference in loan interest will be taxable as a 'Perquisite'.
5. Work Anniversary
As an organization we would want to encourage our people to celebrate their milestones at work.
Eligibility: People who can avail these benefits
- 1st year: Dinner with Family (5k)
- 3rd year: Dinner with Family at a 5-star hotel (12.5k)
- 5th year: 3 days domestic travel with family (30k)
- 7th year: 1 week domestic travel with family (50k)
- 10th year: 1 week stay at a 5-star hotel with family (1 lakh) OR ‘X’ no. of fully paid shares
- 15th year: International Travel (Rs.1,50,000) OR ‘X’ no. of fully paid shares
Time Period for to avail the same:
- Dinners or Lunches: within 1 month
- Domestic Travel: within 3 months
- International Travel: 1 year
However if there is a genuine reason or an exception it will be considered on a case to case basis.
How will it work ?
Its simple, you go and celebrate and send us the expense claim. You will be reimbursed the maximum allocated amount.
Note:
- Please note,this will be taxable
- There will be no reimbursement on alcoholic beverages and cigarettes.
The equity part is not fixed yet, will be decided at the time of the first 10/15 year anniversary.