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# Open HRMS Loan Management

Manage Loan Request of Employees

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## Key Highlights

##### Loan Request

Employees can create loan requests.

##### Loan Request Approval/Refuse

Employee/ Administrator can approve or reject the loan requests.

##### Pending Installments in Payslips

Automatically lists pending installments for the month when creating payslips.

##### Loan Amount Deduction From Salary

The loan amount will automatically deduct from the Salary.

Open HRMS Loan Management

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# Add Deduction Rule

Create a salary deduction rule for loans by selecting 'Loan' as the Salary Rule Name.

# Loan Request

Navigate to Request for Loan under Loans & Advances in Employees module

# Create Loan Request

Create a Loan Request by providing details like Loan Amount, Number Of Installments, and other relevant information.

# Compute Installment

Clicking the "Compute Installment" button will generate Installments based on the Loan Amount and No Of Installments.

# Loan Request Approval

After submitting the Loan Request, a user with Employee/ Administration rights can approve it by clicking the "Approve" button.

# Employee Loan Requests

View Loan Requests for a specific employee by clicking the "Loans" smart button in the Employee Form view.

# Pending Installments in Payslips

When creating the Payslip, all pending Installments for the month will be listed.

# Installment Amount Deduction

After Confirming the Payslip, the Installment Amount will be deducted from the Total Loan Amount

Employees have the ability to submit loan requests with necessary details.

Administrators or authorized personnel can approve or decline loan requests.

Pending installments are automatically displayed when generating payslips for the current month.

Loan amounts are deducted directly from the employee’s salary.

# FAQ

How is the loan amount deducted from salaries?

The loan amount is deducted directly from the employee's salary during payroll processing.

Can multiple loan requests be made?

Yes, employees may submit multiple loan requests, subject to company policy.

How are installment payments calculated?

Installment payments are calculated based on the loan amount and the number of installments agreed upon.

#### Release 19.0.1.0.0

20th September, 2025
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- Initial Commit

### Related Modules

Open HRMS Core

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Open HRMS Biometric Device Integration

Open HRMS HR Dashboard

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