Dear All,
I am working with a medium-level IT company as an HR Analyst. We are planning to process a loan for one of our employees. Since this is the first time we are experiencing this kind of situation, kindly let me know the formal employee loan procedure followed by IT companies.
Thanks and Regards,
Anu
From India, Coimbatore
Acknowledge(0)
Amend(0)
6I am working with a medium-level IT company as an HR Analyst. We are planning to process a loan for one of our employees. Since this is the first time we are experiencing this kind of situation, kindly let me know the formal employee loan procedure followed by IT companies.
Thanks and Regards,
Anu
From India, Coimbatore
Acknowledge(0)Amend(0)
Hi Anu,
- Loan agreement (where an employee signs off on stamped paper stating that he has taken a loan of Rs.X and would repay it within X months).
- Loan recovery (number of months).
- Tax implications (if subsidized or zero-interest rate).
- In the case of resignation before the loan tenure, repayment rules.
This is what I could think of. Any other points, friends?
Regards, K. Palaniappan
From India, Madras
Acknowledge(0)Amend(0)
- Loan agreement (where an employee signs off on stamped paper stating that he has taken a loan of Rs.X and would repay it within X months).
- Loan recovery (number of months).
- Tax implications (if subsidized or zero-interest rate).
- In the case of resignation before the loan tenure, repayment rules.
This is what I could think of. Any other points, friends?
Regards, K. Palaniappan
From India, Madras
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Poor can benefit from this edu loan scheme.pdf
Loan Form.doc