Loan / Advance

Purpose

To submit loan and advance requests

Procedure

Advance Application

The Top-table shows the Advance history of the Employee

Enter the Request advance amount
Click Add new to submit request

In case if Advance is for Service

Select the Reason of Advance from the drop-down list

In case if to apply for others

Select the Department of the employee from the drop-down list
Select the Employee from the drop-down list

Loan Application

The Top-table shows the Loan history of the Employee

Select a Loan Policy from the drop-down list
Enter the Request loan amount
Instalment basis can either be Instalment based or Amount based
If Amount based, then;

Enter the Instalment amount to be paid each month

If Instalment Based, then;

Enter the Number of months required for the repayment of the loan
After entering the Number of months, Raqim automatically calculates the Instalment amount of each month

In case if to apply for others

Select the Department of the employee from the drop-down list
Select the Employee from the drop-down list

Grant Application

Select a Department from the drop-down list
Select the Employee from the drop-down list
Select a Grant Policy from the drop-down list
Enter the Amount of Grant
Click on the Add new button to submit grant application

In case if to apply for others

Select the Department of the employee from the drop-down list
Select the Employee from the drop-down list

Tips and Tricks

How does Advance work?

Suppose if an Employee requests and receive Rs.20,000 advance while his actual salary is Rs.25,000, then he will be paid only Rs.5,000 at the time of his salary.

Advance cannot exceed the amount of actual salary