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Select the “Record PF Loan Definition” link from the left pane.
The “PF Loan Definition” page appears.
The system displays the following.
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Date Format |
The date format that is applicable to the login user. |
Enter the following.
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Loan Name |
From the drop-down list box, select the name of the PF loan to be defined. |
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Loan Type |
From the drop-down list box, select any one of the following types of loan. § Refundable § Withdrawal |
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Number of Times Loan Can be Taken |
The number of times that the specific loan could be availed. |
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Interest Rate Over the PF Interest |
The rate of interest that the employee must pay, above the PF interest rate, for repayment of the PF loan. For example if the PF Trust Interest rate is 8.5%, the Interest Rate Over the PF Interest may be 1.5%. This 1.5% may be the administration charges that have to paid to the PF trust. |
To record PF trust applicability
Enter the following in the multiline.
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PF Trust |
From the drop-down list box, select the PF trust that manages the PF loan. |
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Remarks |
The remarks pertaining to the PF loan definition. |
Select the “Save” pushbutton.
From the drop-down list box, select the name of the PF loan definition to be deleted.
From the drop-down list box, select the type of loan.
The system retrieves the PF loan definition details.
Select the “Delete” pushbutton.
The system deletes the PF loan definition.
6 Hyperlinked text below
Use this page to define or delete a PF loan.
To record PF trust applicability