If your organization provides employee loans, this module enables you to define and manage employee loan policies and their entitlement based on different parameters. Employees can request loans, which are then reviewed and approved, and converted to loan agreement which include terms of payment and the life of the loan. Loan payments are processed automatically through the payroll at the end of each pay period. It can manage advance through the same process.
- Unlimited types of loans.
- Different methods of repayment.
- Loan holidays.
- Automatic carry forward.