Asset Management Policy

1. Purpose

This policy outlines the rules and responsibilities regarding the allocation, usage, care, and return of company-owned assets such as laptops, chargers, headphones, and other equipment. The purpose is to ensure that assets are used responsibly, maintained properly, and returned in good condition.

2. Scope

This policy applies to all employees, contractors, interns, and consultants who are provided with company-owned assets.

3. Asset Allocation

Assets such as laptops, chargers, headphones, and IT peripherals are issued based on job requirements.
Each asset will be recorded in the Asset Register with a unique identification number.
Employees must acknowledge receipt of asset(s) by signing the Asset Handover Form.

4. Employee Responsibilities

Employees are expected to:

Use Responsibly: Company assets must be used strictly for business purposes.
Care & Maintenance: Keep assets in good condition and avoid misuse, negligence, or physical damage.
Security:
- Do not share devices or login credentials with unauthorized persons.
- Report theft, loss, or damage immediately to the IT/Admin team.
Software Compliance: Install only authorized applications approved by the IT team.
Travel & Remote Work: Ensure assets are handled and transported securely while traveling or working remotely.

5. Prohibited Use

Personal use beyond reasonable limits (e.g., excessive gaming, streaming, or personal downloads).
Tampering with system configurations, security settings, or hardware.
Using unauthorized accessories or chargers that may damage equipment.

6. Replacement & Repairs

Accidental Damage: Must be reported immediately. IT/Admin will assess and arrange necessary repairs.
Negligence or Misuse: The company reserves the right to recover partial or full costs of repair or replacement.
Lost or Stolen Assets: Must be reported to HR/IT within 24 hours along with a written statement.

7. Return of Assets

All company assets must be returned in good condition under the following circumstances:

When employment ends (resignation, termination, contract expiry).
When the company requests an upgrade or replacement.

Final settlement or relieving will be processed only after assets are returned and verified by IT/Admin.

8. Monitoring & Compliance

The company reserves the right to audit or monitor usage of IT assets.
Non-compliance with this policy may lead to disciplinary action.

9. Policy Review

This policy will be reviewed annually and updated as necessary to comply with operational and security requirements.

10. Acknowledgement

Employees must sign the Asset Acceptance & Responsibility Form to acknowledge that they have read, understood, and agreed to follow this policy.