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Use of Company Resources for Personal Purposes All employees should protect the companys assets and ensure their efficient use. Company equipment should not be used for non-company business although incidental and limited use, from time to time, may be acceptable if properly authorized in advance.
Companys owners are shareholders. So the company property belongs to the share holders.
Shareholders are the real owners of a company.
If the employee is nonexempt, you may be able to dock their wages. Under the FLSA, you can make deductions for unreturned company property if the employee is nonexempt and the deduction does not drop the employees pay to below the minimum wage or reduce overtime wages owed to the employee.
By having both parties sign a legally binding agreement, the employer is legally obligated to provide functioning equipment and the employee to return it once they stop working. The other option would be to offer a WFH stipend as part of your remote work lawsuit policy.
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The equipment is company property and must be returned when separation occurs or if in the future the job works from the office again. Express authorization to deduct the value of any unreturned equipment from a paycheck or final paycheck. Again, check state law.
Dear [Name], According to [Company Name] policy, employees are required to return all company equipment upon termination. As of the writing of this letter, there is no record of your returning [describe missing items].
Fraud Asset misappropriation is when employees or third parties abuse their trust to steal a companys property or use it for personal gain. There are three steps the fraudster must complete to be successful in misappropriation of assets: The Act The theft or deception.
If its well drafted, it should give you the right to cut him off if he refuses to return company property. Depending on the agreement and your states employment laws, you might also be able to sue him to get back what hes already received.
When someone leaves your organization, you need to ensure that they return any company property that they may have in their possession. To do so properly, we recommend using a Return of Company Property Letter that can be sent to employees so that they know what property they have and how to return it.

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