Hi Sir/Madam,
One of our employees is asking for a loan for his marriage, but at present, our company is not providing any loans to employees. Our company's funds are based on an overdraft, so it is difficult to provide a loan to an employee.
Please help me prepare the reply message to the employee.
Thanks in advance.
Rose Mary
From India, Cochin
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One of our employees is asking for a loan for his marriage, but at present, our company is not providing any loans to employees. Our company's funds are based on an overdraft, so it is difficult to provide a loan to an employee.
Please help me prepare the reply message to the employee.
Thanks in advance.
Rose Mary
From India, Cochin
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Hi,
There is no legal obligation for a marriage loan given by the company, but to maintain a friendly and cooperative environment in the company, simply go to your boss and ask the same. If your boss agrees, then you can proceed further.
Remember, before going to your boss, ensure the behavior of the employee, length of service of the employee, total dues of the employee (like Earning Leave, LTA, Medical, etc.), and how much is required to pay back the amount.
Thanks,
Sandeep Tomar
From India, Delhi
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7There is no legal obligation for a marriage loan given by the company, but to maintain a friendly and cooperative environment in the company, simply go to your boss and ask the same. If your boss agrees, then you can proceed further.
Remember, before going to your boss, ensure the behavior of the employee, length of service of the employee, total dues of the employee (like Earning Leave, LTA, Medical, etc.), and how much is required to pay back the amount.
Thanks,
Sandeep Tomar
From India, Delhi
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Hi Rose,
There is no rule that an employer should provide a loan to an employee. As a special case, if you believe that the concerned employee is in need, then ask your Supreme Authority to sanction a loan subject to his/her drawing power. This is a marriage loan and is totally unsecured. I hope the amount is not exorbitant. Otherwise, you can inform your bankers to assist him and grant him a personal loan. As security, provide the bankers with a Salary Attachment letter. Deduct the EMI amount from his salary and pay the monthly installment. See if your bankers will help you or not.
Ramakant
From India, Pune
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There is no rule that an employer should provide a loan to an employee. As a special case, if you believe that the concerned employee is in need, then ask your Supreme Authority to sanction a loan subject to his/her drawing power. This is a marriage loan and is totally unsecured. I hope the amount is not exorbitant. Otherwise, you can inform your bankers to assist him and grant him a personal loan. As security, provide the bankers with a Salary Attachment letter. Deduct the EMI amount from his salary and pay the monthly installment. See if your bankers will help you or not.
Ramakant
From India, Pune
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Employee reference policy.doc