Enable Loan apply accessibility in ESS Module: 


HR user first needs provide Loan apply access to employees. This can be done by System User or Super Admin only. Login into ESS, Navigate to ESS Settings - > Payroll Settings. 


Here click on ‘Manage Employee For Loan’ button and select employee whom you wish to provide access for Loan application through ESS:




How employee can apply for a Loan:

Employees who have given loan apply feasibility, can login into their ESS portal and apply for a new loan.


Step 1: Login to ESS (Employee Self-Service portal). Navigate to Payroll Details -> Loans.



Step 2: On this page employee needs to click on ‘Apply Loan’ button. This will open ‘Loan application’ form for him. 

 

Step 3:

  • Fill in the required loan application details, such as loan type, amount, and reason and submit the loan request for approval.
  • Once submitted, the loan request will be sent to the designated approver for further processing.


Loan Summary:

Once employee’s loan request is approved by the approver, employee can view those approved loans summary on Loan detail page on ESS portal:

  1. Scroll down the ‘Loans’ page in the ESS (Employee Self-Service) portal or Mobile Application.
  2. The loan summary will display the complete loan-related data, including:
    • Loan Type
    • Loan Amount
    • EMI Details
    • Recovery Schedule
    • Interest Rate
    • Remaining Balance



This overview helps employees monitor their loan progress and payment details.


EMI Recoverable:  

This represents the total EMI amount that has been deducted from the employee's salary as part of the loan repayment process. With month’s Salary by default an EMI is adjusted and shown under ‘EMI Recovered’ here.



Receipts Recovered:

This refers to the total amount submitted in cash by the employee for loan repayment, for which the employee receives a receipt as proof of payment. This section tracks any payments made outside the regular EMI deductions from salary, such as advance or additional payments made towards the loan in form of Cash.




How Manager/HR can approve employee’s loan request:

To approve a loan request Manager/HR needs to follow below:

  1. Log in to the ESS portal.
  2. Navigate to Team Request from the main menu.
  3. Select A/R Team Request.
  4. Under the A/R Team Request section, click on the Loan option.



All pending loan requests will be listed, showing two thumb icons under the Action column:

  • Green thumb icon: For approving the loan request.
  • Red thumb icon: For rejecting the loan request.



To approve a loan request:

  1. Click on the Green thumb icon.
  2. A detailed loan request page will open.
  3. Review the loan details.
  4. Enter your approval remarks (optional).
  5. Click on Approve.




To reject a loan request:

  1. Click on the Red thumb icon.
  2. The detailed loan request page will open.
  3. Review the loan details.
  4. Enter the rejection remarks (optional).
  5. Click on Reject.