Viewing employee loan and advance details

The "View Employee Loan & Advance Details” page appears. The system will display the following field at the top right of the page.

Date Format

The date format that is applicable to the login user.

Loan Unit	The loan unit for which you must view the employee loans and advances.
Application Code	The unique code to identify the loan / advance application.

The system displays the following field.

Application Date

The date on which the loan or advance was applied.

The following fields are displayed in the “Employee Details” group box.

Employee Code	The unique code identifying the employee.
Employee Name	The name of the employee.
Position	The position held by the employee.
Work Location	The actual place of work of the employee.
Date of Retirement	The date on which the employee will retire from service.
Current Basic	The current base compensation of the employee as per “Compensation Details”.

The following fields are displayed in the “Schedule Details” group box.

Loan	The loan or advance applied for. For example Motor Car loan and Festival advance.
Min. No of Principal Installments	The minimum number of installments through which the principal amount of loan/advance must be repaid.
Max. No. of Principle Installments	The maximum number of installments through which the principal amount of loan/advance can be repaid.
Min. No. of Interest Installments	The minimum number of installments through which interest on loan/advance must be paid.
Max. No. of Interest Installments	The maximum number of installments through which interest on loan/advance must be paid.
Eligibility Amount	The maximum amount of loan/advance that the employee can avail.
Loan Interest (%)	The rate of interest on the loan/advance.

The following fields are displayed in the “Application Details” group box.

Loan Amount	The amount of loan that the employee requested.
Estimated Amount	The expected expenditure for the purpose for which the employee applied for loan.
Desired No. of Principal Installments	The number of installments through which the employee intends to repay the principal amount.
Desired Principal Installment Amount	The amount of principal installment.
Desired No. of lnterest Installments	The number of installments through which the employee intends to repay the interest amount.
Desired lnterest Installment Amount	The amount of interest installment.
Payable to Employee	Indicate whether the installment is to be paid to the employee or to an authorized person or organization. From the drop-down list box, select “Yes”, if the installment amount must be handed over to the employee and “No” for others.
Payee Name	The name of the organization or person to whom the installment amount was disbursed. This information is mandatory if you have selected “No” in the “Payable to Employee” field.
Loan Commodity	The commodity of the selected loan type.
Loan Sanctioned Worklocation	The work location at which the loan is sanctioned.
Comments	Any remarks or suggestions regarding the loan application.

The following details are displayed in the “Sanction Details” group box.

Sanctioned Date	The date on which the loan amount is sanctioned for release.
Sanction Amount	The amount of loan / advance that will be granted the employee.
Exception	“Yes” Indicates that the stipulated rules were overridden for granting the loan / advance. “No” indicates otherwise.
New Loan Interest (%)	The new rate of simple interest.
Exception Reason	The reason for overriding the stipulated rules for loan/advance.

The following field is displayed in the “Disbursal Details” group box.

Total Disbursed Amount

The sum of all the installment amounts disbursed to the employee till date.

The following fields are displayed in the “Schedule Details” group box.

Total Principal Paid	The total amount of the principal that the employee has paid till date.
Balance Principal to be Paid	The balance amount of the principal that the employee is yet to repay.
Total Interest Paid	The total amount of interest that the employee has paid till date.
Balance Interest to be Paid	The balance amount of interest that the employee has to pay.
Total Penal Interest Paid	The total amount of penal interest paid by the employee till date.
Balance Penal Interest to be Paid	The balance amount of penal interest that the employee has to pay.
No. of Principal Installments	The number of installments by which the principal amount is paid.
Principal Installment Amount	The amount per principal installment.
No. of Interest Installments	The number of installments by which the interest amount is paid. This field is relevant for loans only.
Interest Installment Amount	The amount per interest installment. This field is relevant for loans only.
Loan Recovery Effective From	The date from which the loan/advance becomes payable.

The following fields are displayed in the “Loan Installment Details” multiline.

Installment Number	The number of the installment.
Process From	The start date of the installment period.
Process To	The end date of the installment period.
Transaction Source	The source of the record, which can be either Payroll or Prepayment.
Principal Outstanding	The amount of principal that the employee is liable to pay but has not paid up till now.
Interest Outstanding	The amount of Interest that the employee is liable to pay but has not paid up till now.
Scheduled Principal Recovery	The planned date by which the principal amount must be recovered.
Scheduled Interest Recovery	The planned date by which the interest amount must be recovered.
Scheduled Penal Interest Recovery	The planned date by which the employee must repay the penal interest amount.
Actual Principal Recovery	The date on which the employee paid the principal amount.
Actual Interest Recovery	The date on which the employee paid the interest amount.
Actual Penal Interest Recovery	The date on which the employee paid the penal interest amount.
Interest Accrued	The amount of interest accrued till date.
Penal Interest Accrued	The amount of penal interest accrued till date.
Prepayment Amount	The amount of loan/advance that the employee paid before the scheduled date of recovery.
Payment Mode	The mode of payment, namely cash, bank or payroll.
Remarks	Any comments on the installment.

To view comments

A dialog box opens up. It shows a detailed view of the earlier recorded comments.

Hyperlinked topics below

Page Objective

An employee can use this page to view complete details of a specified loan/advance.