1. #1
    Unregistered

    What should we do with the employee who has applied for resignation but already has a loan of Rs.50000 from our company?

    One of our employees has taken Rs.50000 loan from his salary and has paid only 25% of that. Now that employee has applied for resignation and still 75% of the amount has to be paid. Can we give him resignation letter and deduct his amount from the last salary and bonus? Or should we reject his resignation on the ground that he has to still pay the amount? Please suggest.

  2. #2
    looser Array
    Join Date
    Jul 2012
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    619

    Re: What should we do with the employee who has applied for resignation but already has a loan of Rs.50000 from our company?

    Hi sir,

    As your employee has applied for the loan there are two ways to get your loan back they are:-

    1. first you need to make him pay all the loan amount without leaving the company,

    But if he really want to leave the company then he need to clear all the loan amount along with interest.

    2. You need to collect all the loan amount which is applicable along with interest which the bank asks him to pay.

    If he clears all the debt without any due then you can give him the resignation letter.

    But until then do not provide him the resignation letter if you provide him it would be a loss if he doesn't pay the amount, so do make him clear all the debt and leave the company.

    Ask him whether he want to pay the debt for cash or he want you to cut the amount along with interest from the last month salary and his bonus.

    This would clear the problem.

    All the best

    THanking you...

  3. #3
    Chittaranjan Array
    Join Date
    Jul 2012
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    658

    Re: What should we do with the employee who has applied for resignation but already has a loan of Rs.50000 from our company?

    Dear sir/madam as per your statement it transpire that the resignee did not clear his dues to present company rather he submits his resignation.

    Under the situation you the authority must not approve his resignation until and unless he clears all liabilities have with the present company.secondly you give notice to the resignee to clear all dues before the approval of his resignation.

    Thank you,

  4. #4
    Ashok Array
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    Jul 2012
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    2,293

    Re: What should we do with the employee who has applied for resignation but already has a loan of Rs.50000 from our company?

    Dear sir,

    It will be good to take the undertaking to deduct the balance amount of loan from the last salary and bonus of the concerned employee before accepting his resignation letter.

    Other wise the company will loose that amount.

    It is not advisable to reject the resignation letter on the ground that the employee has not paid the loan amount.

    Every employee has got fundamental right to try for betterment in his life.


    Thanks.

  5. #5
    abbebo Array
    Join Date
    Aug 2012
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    454

    Re: What should we do with the employee who has applied for resignation but already has a loan of Rs.50000 from our company?

    Hi. I think firstly you can try to deduct this amount from his pending salary and bonus. But if still the amount is higher even after deduction then you can talk to this employee and tell him to pay back the loan before he leaves. Give him a certain time period during which he has to pay back the loan failing which he will not be given his resignation letter.

    If you give him the resignation letter without him first clearing his debt then he may take undue advantage of this and not pay the loan later as he has already resigned.

    So in whichever way do make him pay his debt before leaving the company. Best of luck. Thanks

  6. #6
    G.one Array
    Join Date
    Jul 2012
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    677

    Re: What should we do with the employee who has applied for resignation but already has a loan of Rs.50000 from our company?

    It wholly depends upon the agreement between the company and that employee. You and that employee are bound by that loan agreement. If in that agreement if it is clearly stated that the employee can not leave the company untill and unless he pay whole loan amount with that interest, then you must reject his resignation letter. And if that employees pays all the dues with interest then you can accept his resignation letter and may relieve him from the company. If he has provided any secruity against the loan, and if the value of the secruity is more than it's due amount, then you can accept his resignation letter as it may not lead you to losses.

  7. #7
    yogesh Array
    Join Date
    Sep 2012
    Posts
    530

    Re: What should we do with the employee who has applied for resignation but already has a loan of Rs.50000 from our company?

    hello sirYou should not accept the resigning letter of employee who is debtor of your company.there is no any such rule for employees to resign without paying his debt or clearing all matters against him /her.you should call the employee personally and explain the all rules and regulations of resigning.As being a professional he/she will understand and make some solutions for unpaid money that has taken in form of 'loan'.if he /she does not agree then this case can be take took court for further judgment.thankful

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