Simple Employee Loan Agreement
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Dear Sundar Raj and Ramalingam,Thank you so much for your feedback. The deduction amount has been decided by the employee only. He gets 5k as a voucher payment apart from his salary. The company has provided him with accommodation, and food has been taken care o...
Dear,Do not deduct from his salary. Deduct only one-fifth of his salary, which will look credible. After crediting to his account, get monthly post-dated cheques for repayment in the Director's personal account advanced as a loan to him. If Rs 18,000/- is deduct...
I do not know what exactly a training 'loan' agreement is. Under any circumstance, an employer is not supposed to collect a blank check and present it for payment without intimation to the drawer (employee). Here, in this case, the relationship between the drawe...
Dear,It is really very sad. In this case, you should hire a proper advocate and do not pay a single coin to them. If you need any help in this regard, please contact.Thank you,J. S. Malik9810557181
At the outset, companies issue bonds and enforce them too. Realize that companies invest significantly when they recruit and select employees. A lot of consideration goes into the process before and during employee recruitment. When you resign, you cause a loss ...
I joined one company as a trainee in March 2006\. The company made us sign a Training loan agreement of Rs. 3 lac with liquidation damages of Rs. 2 lacs. They also took 3 undated cheques amounting to Rs. 3 lacs. Since there was no work, my senior project manager...
Our company is planning to introduce a housing loan policy. Can someone give me the draft housing loan policy, agreement, and the procedure to be followed, documents to be collected from the employee, etc.
Hi there,I worked in an organization that offered interest-free housing loans, so here is what you need to do:- You need to conduct market research (check with the banks) to determine the percentage of salaries against which the housing loans are provided.- Try ...
Dear Tinkerbell,During my HR days, we followed this policy:We paid a loan amount equivalent to twice the gross salary. The maximum number of installments was six. Two guarantors from the company were required to accept responsibility for non-payment. Guarantors ...
Good day all,Please, I need a guideline or format for a loan agreement. I want to be able to properly monitor loans collected by staff and draw up a repayment plan. I'm hoping I could get some help with this.Thank you