Accounting Policy

SERIKANDI GROUP SDN BHD
Block 4, 9-A, Industrial Complex, Kuala Belait

NEGARA BRUNEI DARUSSALAM
Tel.6733341434/Fax 6733333286
Email: mail@serikandi.com
WEB SITE: WWW.SERIKANDI.COM
____________________________________________________________________________________________________
I. TO: HR DEPARTMENT
II. FROM: SERIKANDI - AUDIT
III. SUBJECT: FINANCLIAL POLICY & PROCEDURE FOR HR
DEPARTMENT
IV. DATE: DECEMBER 15, 2010
V. CC: ACCOUNTS DEPARTMENT
Introduction
This manual has been prepared to document the internal accounting procedures for
the Serikandi oil Field Services. All personnel with a role in the management of
Serikandi Accounts operations are expected to uphold the policies in this manual. It is
the intention that this accounting manual serve as our commitment to proper, accurate
financial management and reporting.
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Tel.6733341434/Fax 6733333286
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Payroll
I. Personnel:
1. The HR Manager is charged with the responsibility of maintaining personnel files
on staff persons.
2. Each personnel file should contain the following information, at a minimum.
a. Employment application or resume
b. A record of background investigation
c. Contract or appointment letter
d. position, pay rates and changes therein
e. authorization of payroll deductions
f. earnings records for non-active employees
g. Immigration Form/passport copy/IC copy
h. termination data, when applicable
3. All personnel records are to be kept locked in a locking file cabinet in the HR
Managers office. Access to these files other than will the Accounts Manager, CEO,
General Manager or the auditor
II. Payroll Preparation and Timekeeping:
1. Timesheets are to be prepared by all staff persons and submitted on the last day of
each month. Time should be input on a daily basis and, if in writing, completed in
ink. Correction fluid should never be used in preparing timesheets. If an error
needs to be corrected, a line should be drawn through the item and the corrected
information recorded, and initialed by the person who made the correction.
2. Timesheets are to include specific time spent on each project.
3. Timesheets are to be signed by the staff person and his/her supervisor.
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Tel.6733341434/Fax 6733333286
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4. All approved timesheets should be submitted to the Admin clerk/Accountant, who
will verify the hours worked against his/her record.
5 Time sheet Should have following attachment:
a) . Over time data sheet with computation
b) . Copy of MC certificate/Leave application if any.
6. if all documentation is enough, the Accountant should then process the time and
make a pay roll report .
7. The Auditor should review the payroll summary page of the payroll service report
for in appropriate payees or unusual hours.
8. Pay-Cheque should be distributed by the Accountant on or before 10th of every
month. In the event that a paycheck is picked up by a designated person other than
the staff person, a memo should be received in writing from the staff person and
proper identification should be requested from the party picking up the pay check.
9. As an employee benefit and develop saving habit, its mandatory employee will
open a bank account with in 3 month of date of appointment letter. company offers
direct deposit through the employees own financial institution. Through direct
deposit, payroll is deposited as cash of bank transfer into the employees account on
payday.
Additional documentation required in following cases :
i. For new appointment:
a) Appointment letter signed by HR manager /CEO/GM
b) Insurance policy copy
c) SCP/TAP registration form
d) Bank account no copy
ii. For transfer:
a) Transfer form signed by HRM & outlet manager.
b) Inter transfer form if transferred from one location to another within the same
company.
c) TAP /SCP registration
d) Insurance cancellation & new registration if applicable
iii. For Resignation:
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Tel.6733341434/Fax 6733333286
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a) Resignation letter
b) Resignation acceptance letter/termination letter signed by HRM/CEO/GM
c) Insurance cancellation
d) TAP/SCP cancellation form
e) NOC from operation stating all uniforms and equipments belongs to
company has returned.
f) NOC from accounts stating about dues to company or to employees.
III. Document Submit to :
Accountant
Copy to : Audit dept
IV. Time limit for payment:
7working days from closing of timesheet.
Leave Administration:
I. Annual Leave :
For payment of annual pay the following are the procedure
a.Requirement :
1. Annual Pay note signed by CEO/GM/HR director.
2. Contract renewal copy.
3. Annual pay note should contain the following:
• Name of the employee
• Passport no and other identity detail
• Location of work
• Existing period of contract.
• Renewal period of contract
• Annual leave available.
• Annual utilized
• Last drawn Basic salary
• Computation
• Annual leave available multiply by basic salary per day
b. Document Submit to :
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Tel.6733341434/Fax 6733333286
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Accountant
c. Time limit for payment:
5 working days on submission of complete documentation
d. Guide line for annual leave payment
• During the first 3 months of employment, the employee is not
permitted to take any leave.
• The employee, who has served for at least 3 months is entitled to 7 days of
paid leave upon the completion for every 12 months of continuous services.
• The basic leave entitlement for those employees serving a full calendar
year is as follows:
Year of service Entitlement days

1st year 7 days
2rd year 8 days
3rd year 9 days
4th year 10 days
5th year 12 days
6th year 13 days
7th year onwards 14 Days
• At the end of the contract, employee will be paid for the entitlement days.
II. Medical Leave:

Employee are entitled for not more than 14 days every calendar year upon
submission of valid medical certificate (MC) from Brunei Government Hospital
after the completion of 6 months service. Medical leave taken in excess of the
above entitlement shall be considered as unpaid leave or annual leave.
Note : MC copy to be attached with timesheet on closing of timesheet.
Medical Expenses
1. If employee happen to be injured during the course of employment whereby he
require immediate medical attention at hospital, company will take you to the
nearest hospital and will pay the transportation and hospital expenses thereby
incurred. This benefit does not extended to cases where you may require further
specialist treatment at some other hospital abroad.
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Tel.6733341434/Fax 6733333286
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2. All insurance will be monitored by HR department in regards to new employees
& resignation and renewal.
3. All small medical expenses should claim through HR department petty cash.
4. All medical bill should acknowledge by HR manager and HR department can

keep a copy of bill to concern employee personnel file.
III. Unpaid leave:
Existing HR policy applicable.
Air ticket Allowance:
I. Guideline for claiming Air ticket
All expatriate employee are entitled to fixed amount for air-ticket expenses to
going back to country of origin at the end of two years contract of employment with
the Company.
The Air ticket claim will be according to table mentioned below:
Nationality 2 n Fro One way
Indian B$1,000.00 B$500.00
Indonesian B$ 400.00 B$200.00
Philippines B$ 600.00 B$300.00
Malaysia (East M’sia) B$ 200.00 B$100.00
Malaysia (West M’sia) B$ 400.00 B$200.00
However, company will be paid half of the full allowance in case of

discontinuation of contract (one-way ticket) after completing one year in new
contract but upon completion of minimum 2 year of service . Employee will have to
provide own ticket and expenses for the ticket less than one year of services.
II. Requirement for claiming allowance:
a. Air ticket claim note prepare by HR dept authorized by HR director/CEO/GM

b. Air ticket note should contain the following:
• Name of the employee
• Passport no and other identity detail
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• Location of work
• Existing period of contract.
• Renewal period of contract.
• Allowance claimed as per above guideline.
• Country of origin or air ticket expenses claiming.
c. Air ticket copy including return ticket if applicable or passport copy of
cancelled employment contract for termination.
III. Document Submit to :

Accountant
IV. Time limit for payment:
5 Working days on submission of complete documentation
Salary Advance
a. For claiming advance employee should fill up the advance request form and
submit to HR department.
b. HR department should approve the request on the basis of following:
In case of advance request less than employee one month salary:

Employees are allowed to have advance on fulfilling the following condition.
9 Employee should complete at least 15 days of working in a month.
9 Employee should finish probation period.
9 The reason for Advance should be effective.
9 Approval from managers.
In case advance request is more that one month of salary

9 Letter from employee for request for advance stating the reasons for advance
9 The letter to be acknowledge by manager General Manager
9 Repayment method to be stated and approved.
9 Consider the contract expiry fall within the repayment period
c. Once advance approved by HRM the advance copy to accounts for payment.
Accounts department should verify the following:
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Tel.6733341434/Fax 6733333286
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9 He should not hold any liability to company and any other advances like
pending petty cash or purchase advances.
9 He should not hold any liability to company and any other advances like
pending petty cash or purchase advances settlement for more than 3 months.
9 He should have proper debt repayment record.
9 Repayment module.
Its final discretion for accounts to approve the payment depending own above
cases.
d. Document Submit to :
Accountant
e. Time limit for payment:
TAP/SCP payment:
a. For payment for TAP SCP following are the requirements :

1. Filled TAP /SCP form from HR department
2. New registration and resignation to be included
3. At 7th of each month.
b. Document Submit to :
Accountant
c. Time limit for payment:
Labor Quota:
Following are the requirement for payment to labor Quota:
a) Approved Manpower request from department supporting each person to whom

labor quota is applying
b) Payment request form.
d. Document Submit to :
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Tel.6733341434/Fax 6733333286
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Accountant
e. Time limit for payment:
5Working days on submission of complete documentation
For Accounts:
Following documents required for processing the bank guarantee for labor quota:
a) Copy of your approved Labor Quota from Labor Department

b) Photocopy I.C. of owner.
c) Resolution / Request Letter
d) Deposit in a ratio of1:1
Through Insurance:
a) Copy of your approved Labor Quota from Labor Department
b) Photocopy I.C.
Extract of Accounting Policies 2009
III. 9

Accounting Policy

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SERIKANDI GROUP SDN BHD

Block 4, 9-A, Industrial Complex, Kuala Belait

II. Payroll Preparation and Timekeeping:

Year of service Entitlement days

II. Medical Leave:

Note : MC copy to be attached with timesheet on closing of timesheet.

4. All medical bill should acknowledge by HR manager and HR department can

III. Unpaid leave:

Existing HR policy applicable.

Air ticket Allowance:

I. Guideline for claiming Air ticket

However, company will be paid half of the full allowance in case of

II. Requirement for claiming allowance:

a. Air ticket claim note prepare by HR dept authorized by HR director/CEO/GM

III. Document Submit to :

b. HR department should approve the request on the basis of following:

In case of advance request less than employee one month salary:

In case advance request is more that one month of salary

a. For payment for TAP SCP following are the requirements :

Following are the requirement for payment to labor Quota:

a) Approved Manpower request from department supporting each person to whom

a) Copy of your approved Labor Quota from Labor Department

Extract of Accounting Policies 2009

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