Sample Advance Against Salary And Loan Policy

Loan Policy:

      The Eligibility for loan, Maximum loan amount, Repayment method etc. etc. depends upon higher management’s decision.

Approvals Required:

All employees will submit their applications in HR Dept. after approval of concern Dept. HOD, Manager HR&A will review & forward the case to worthy Director Office for formal approval.                                                                                                                                   

Advance Against Salary Policy

Eligibility:

All Employees shall be eligible to apply Advance against salary under this policy.

Limitations:

The maximum advance amount to any employee shall not exceed more than 30% of employee’s basic salary against total attendance in a particular month. The payment of advance is made between 22^nd to 24^th of each month.

Repayment:

Any Advance against salary shall be adjusted in the same month salary of employee in which advance would be issued to him.

Approvals Required:

All employees will submit their applications in HR Dept. after approval of concerned Dept. HOD, by 20^th of each month. Manager HR & A will review & forward the case to worthy Director Office for formal approval. After Director Approval, HR will distribute the payment among employees.

Note:

Decision of General Manager regarding approval of Advance against salary would be final and irreversible.

Also Study:

Sample Attendance Policy

Staff and Employees Overtime Policy Sample

Employee Leave Policy Sample