Meenu Mehra
Hr Executive In It Company

Thread Started by #meenu mehra

hello If someone could give information about loan policy applicable in IT industry for employees. meenu
23rd January 2007 From India, Jaipur
I. The policy can be in many ways- collect a monthly contribution from all employees and start a fund and start sanctioning the same after thoroughly evluating the situation [ he a team of 3-4 people can be kept in place, to remove any bias in sanctioning]. this is like having chit fund.
II. Emergency Loan system:
a] The Management can sanction a fund [EEFund] with a corpus of ,say, Rs. 3 Lakh.
b] An employee can be sanctioned a maximum of Rs.10-15 thousand as emergency fund.
c] This can be repayable in 6-10 EMIs without interest.
d] First come first served [or increase the corpus]
e] The corpus has to be repleshished by the repayment of EMI's by the employees.
f] In the event of death of the employee, this amount can be written off , and management can fill the gap.
As mentioned by you, this can be sanctioned for medical emergency , and while the insurance is in progress. If he receives full reimbursement, then that can be used repaying the Loan.

Hope this gives some idea..
23rd January 2007 From India, Madras
Hi, thanx for the details. but still have some doubts. can u pls expalin little more poits. pls meenu
27th January 2007 From India, Jaipur
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™