Loan Requests & Installment Calculation in Payslip
Watch out the functionality in Arabic Language that describes how employees will be able to generate Loan Requests and how HR Manager can handle it.
Different Loan related operations like skip installment, Loan Payment, Increase Loan Amount will be managed by HR Manager in our ERP System.
Loan Request & Procedure
With Al Sahal loan management, HR's can make
A one-time entry, including the name of the employee, loan amount with the EMIs, interest if any, to be paid, and the time period is all the information an HR needs to provide. The software automatically starts deducting the loan from the employee’s monthly salary as per the instructions provided.
For some reason, the employee can’t pay his EMI for the month or be able to pay a lesser amount, the software gives the ability to deviate the amount of loan for the month while allowing the HR to add compensatory options.
Increase Loan Amount
If an employee wants to increase their loan amount, then they can also submit a request for a loan amount increment.
If in any case, the employee can no longer pay the loan through his salary, for instance, job resignation or advanced payment, the system allows the HR to foreclose the account, after which the loan deduction will be removed from the employee’s profile.
When an employee wants to pay the rest of the whole amount at once then they can submit a request to the HR Manager regarding this.
Al Sahal Employee Self-Service Portal
Through Al Sahal’s Employee self-service portal, the employee can also know his/her loan status information like balance amount, period left, etc and they can also generate different requests to their managers like, increasing loan amount, skip Instalment and loan payment details. Thus, Al Sahal provides loan options to your employee without overloading your HR workload.
Loans Request Based on Amount and Duration
Automatic Installment Deductions via Payslips
Skip Instalment Request
Loan Payment Process & Loan Payment Details
Increase Loan Amount