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Employee Loan

Employee Loan

An employee loan, also known as a salary advance or payroll loan, is a type of loan provided by an employer to its employees. It allows employees to borrow money from their employer to meet immediate financial needs or emergencies. The loan amount is deducted from the employee's future salary or wages, typically in instalments, until the loan is fully repaid.

The Employee Loan page in the SPARC allows you to view and add individual employee professional details of the employees.

To view the Employee Loan in Util page, Login to SPARC > Menu > Util > Click on Loans.

In SPARC employee loan starts by HR entering loan details in to SPARC and the steps are as follows 

  1. Login to SPARC as HR
  2. Go to Util Menu and Click on Loan function
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