Any employee, who has spent a good amount of time for a company with utmost dedication, is liable to receive bonuses and benefits from the company. Also during circumstances when the employee is in need of money, the company may sanction him a loan depending upon the severity.
However, a loan given by the company to the employee sums up as a burden for HR, as it adds another element to be considered while processing payroll, and any mistake may not end up good for HR. This calls for a precise loan management system.
Al Sahal a cloud-based HR system, provides an easy-to-use Loan Management module, wherein the HR ought to enter the loan details and leaves the rest on the software. The payroll is easily processed considering the bonus and deductions including loan EMI. In addition, if the employee requests to skip the EMI for a particular month or duration, on approval the module manages the skipped EMI’s and generates the payroll accordingly.
