Formal employee loan procedures.

Anupama Raj · #1 (**permalink**) 16-10-2008, 12:41 PM

Dear All,

I am working with a Medium Level IT Company as HR Analyst,we are planning to process loan for one of our employee.Since this is the first time we are experiencing this kind situation Kindly let me know the formal employee Loan Procedure follows IT companies.

Thanks and Regards
Anu

palaniappanerode · #2 (**permalink**) 29-10-2008, 10:29 AM

Hi Anu

Loan agreement (where an employee signs off stamped paper that he has taken a loan of Rs.X and would repay within X months)
Loan recovery (no of months)
Tax implications (if subsidised or zero interest rate)
In case of resignation before loan tenure, repayment rules..

This is what I could think about . Any other points friends ....

Regards,
K.Palaniappan

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