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Glosari Pengurusan Sumber Manusia dan Syarat Faedah Pekerja

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Employee Loan

Employee loans, also known as salary loans or workplace loans, are financial products provided by employers to their employees. These loans allow employees to borrow money from their employer at a predetermined interest rate and repayment terms.

Employee loans are designed to provide convenient and accessible financing options for employees who may need extra funds for various purposes, such as personal expenses, emergencies, or debt consolidation.

What is an employee loan?

Financial assistance provided by employers to employees, usually at a lower interest rate, to address personal financial needs.

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What is the interest rate charged on employee loans?

Employee loan interest rates are typically lower than traditional personal loan rates, ranging from 0% to 6%. The specific rate depends on various factors, including:

Company policy: Some companies offer employee loans at a fixed interest rate, while others may offer a variable rate based on market fluctuations.
‍Employee's creditworthiness: Employees with good credit scores may receive lower interest rates.
‍Loan amount and term: Longer loan terms may come with higher interest rates to compensate for the extended repayment period.

How do employee loans work?

Employee loans are financial advances offered by companies to their employees. These loans are typically unsecured, meaning they don't require collateral, and are repaid through payroll deductions over a set period.

Here's how the process usually works:

Employee applies for a loan: The employee submits an application form, specifying the loan amount and desired repayment terms.
‍Company reviews the application: The company assesses the employee's eligibility, financial stability, and employment history before approving the loan.
‍Loan agreement is signed: Upon approval, both parties sign a loan agreement outlining the loan terms, including the amount, interest rate, repayment schedule, and late fees.
‍Loan is disbursed: The loan amount is deposited into the employee's account.
‍Repayment begins: Regular deductions are made from the employee's paycheck to repay the loan with interest.

How much can employees borrow through an employee loan?

The maximum loan amount available through an employee loan program varies significantly by company and depends on several factors, including:

Employee's salary: Higher earners are typically eligible for larger loans.
‍Company policy: Some companies set a maximum loan amount cap for all employees, while others may have tiered limits based on salary or position.
‍Employee's creditworthiness: Companies may offer larger loan amounts to employees with good credit scores.

How are employee loan repayments made?

Employee loan repayments are typically deducted automatically from the employee's paycheck on a predetermined schedule. This ensures consistent payments and simplifies the repayment process for both parties. The frequency of deductions can vary, with some companies making weekly or bi-weekly deductions, while others opt for monthly payments.

Are employee loans subject to any tax implications?

The tax implications of employee loans depend on the specific loan terms and the employee's tax jurisdiction. Here's a breakdown of potential tax considerations:

Interest paid on the loan: The employee may be able to deduct the interest paid on the loan as a miscellaneous itemized deduction on their tax return.
‍Loan forgiveness: If the company forgives any portion of the loan, the forgiven amount may be considered taxable income for the employee.
‍Tax implications of loan default: If the employee defaults on the loan, the company may be required to report the unpaid amount as taxable income for the employee.

It's essential to consult with a tax advisor for specific guidance on the tax implications of an employee loan in your individual circumstances.

Tinjauan nadi pekerja:

Ini ialah tinjauan pendek yang boleh dihantar dengan kerap untuk menyemak pendapat pekerja anda tentang sesuatu isu dengan cepat. Tinjauan ini mengandungi kurang soalan (tidak lebih daripada 10) untuk mendapatkan maklumat dengan cepat. Ini boleh diberikan secara berkala (bulanan/mingguan/suku tahunan).

Pertemuan satu lawan satu:

Mengadakan mesyuarat berkala selama sejam untuk sembang tidak rasmi dengan setiap ahli pasukan ialah cara terbaik untuk memahami apa yang berlaku dengan mereka. Memandangkan ia adalah perbualan yang selamat dan peribadi, ia membantu anda mendapatkan butiran yang lebih baik tentang sesuatu isu.

eNPS:

eNPS (skor Promoter Bersih pekerja) ialah salah satu cara paling mudah lagi berkesan untuk menilai pendapat pekerja anda tentang syarikat anda. Ia termasuk satu soalan menarik yang mengukur kesetiaan. Contoh soalan eNPS termasuk: Sejauh manakah anda mengesyorkan syarikat kami kepada orang lain? Pekerja menjawab tinjauan eNPS pada skala 1-10, di mana 10 menandakan mereka 'berkemungkinan besar' mengesyorkan syarikat dan 1 menandakan mereka 'sangat tidak mungkin' mengesyorkannya.

Berdasarkan maklum balas, pekerja boleh diletakkan dalam tiga kategori berbeza:

Penganjur
Pekerja yang telah bertindak balas secara positif atau bersetuju.
Pengkritik
Pekerja yang telah bertindak balas secara negatif atau tidak bersetuju.
pasif
Pekerja yang kekal neutral dengan jawapan mereka.

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