To view employee’s loan(s)
- Navigate to Employees
- Click on the edit of any employee.
- Click on loans
Employees can view their loan details on this page. If you have an ongoing loan(s), closed loan(s), or a new loan sanctioned by your employer, you will be able to view them under the “Loans” menu in the list view.
Loan details such as loan name (type), loan amount, monthly instalment, repaid amount, remaining no of instalments, remaining loan amount, next instalment date, status of the loan whether open or closed and the percentage of completion can be seen here.
The loan amount is recovered in equal instalments from every month’s payroll as a deduction from your monthly salary.
We have the manual payment option where employees can also make loan repayments anytime towards their outstanding loan amount. In case, you want to make a prepayment towards the ongoing loan you can contact the HR Department.
Note:
- You cannot claim the same Loan(s) until the ongoing loan is closed.
- The loan amount, disbursement date and repayment start date cannot be modified after the first payment is received.
- Any loan less than 20,000 or medical loan can be exempted from perquisite calculation, according to rule 3(A).
