Employee Loan Management

The module empowers the employees for requesting loans and advances with subtleties, for example, amount, the portion installment dates, number of the installments, attachments.

Description

Overview
Open HRMS Loan is a component of Open HRMS suit. Open HRMS Loan module helps the user to configure different loan policies, assign approval authority, conduct the verification process and sanction loan for employees.


Configuration
Install the Module "Open HRMS Loan Accounting" in order to enable Accounting Entries.

Features
 The employee can create a loan request.
 The loan amount is deducted from the salary.
 Double layer approval, from Accounting & HR Department.
 Current month installment is automatically listed in payslip.

Open HRMS