EMPLOYEE EXPERIENCE
Loan Management
Record a loan, build its instalment schedule and recover each EMI from payroll until closure, with any balance carried into final settlement.
IN SHORT
What is loan management?
Loan Management
Record a loan, build its instalment schedule and recover each EMI from payroll until closure, with any balance carried into final settlement.
Employee Experience
Payslips, declarations, claims, loans, advances and exit settlement handled inside the cycle instead of through HR tickets and side spreadsheets.
THE PROBLEM
What goes wrong without loan management
These are the problems payroll teams run into when this is handled on spreadsheets and email.
Loan balances are tracked on a spreadsheet outside payroll, so deductions and balances drift apart.
An instalment is missed for a month and the schedule silently drifts.
An employee exits with a loan still open and the balance is not recovered.
Employees cannot see how much of the loan remains.
HOW IT WORKS
Loan Management inside a BizzField pay run
BizzField runs payroll in five steps: lock attendance, draft the register, review variance, approve, release. Here is how this capability works inside that cycle.
Instalment schedule
The EMI schedule is generated when the loan is recorded and followed automatically.
Automatic recovery
Each instalment is deducted in the pay run until the balance is cleared.
Exit recovery
An outstanding balance is carried into full and final settlement.
BUILT FOR INDIA
Indian statutory rules, built into the cycle
PF, ESI, professional tax and TDS are calculated inside the pay run, and state rules follow the employee's work location.
PF wage ceiling
Employee and employer provident fund computed on basic wages, respecting the statutory monthly ceiling.
ESI eligibility
Applied to employees within the gross wage limit of ₹21,000 a month, with contribution-period rules handled across the cycle.
State-wise PT
Professional tax slabs resolved by work location rather than by registered head office.
TDS & Form 24Q
Projected annual tax spread across remaining months, with quarterly Form 24Q output.
QUESTIONS
Loan Management — Questions We Get Asked
Yes. A hold can be applied for a defined period, and the schedule extends rather than silently skipping instalments.
The remaining balance is carried into full and final settlement as a recovery against dues payable.
Yes. Revisions, approvals and reversals are recorded in an audit trail with the user and the time against each action, so a closed cycle can be explained later.
FILES FROM THE APPROVED PAY RUN
Bank Files And Statutory Returns, Built From The Approved Register
What is paid, what is deducted and what is reported come from the same approved register, so the files are not rebuilt in Excel after the run.
BANK TRANSFER
Bank Salary Files
Key Capabilities
- Output formatted to the bank's own upload specification
- Formats for HDFC, ICICI and SBI
- A separate file per bank when employees bank with different banks
- Released amounts kept against the cycle for matching to the bank statement
The bank-format salary file is generated from the approved register, so the amount credited and the amount on the payslip come from the same source.
See Bank Transfer SupportSTATUTORY & ACCOUNTING
Statutory Return Files And Accounting Export
Key Capabilities
- PF ECR file produced from the pay run
- ESI contribution return
- Form 24Q assembled from the quarter's cycles, not re-keyed
- General Ledger export for Tally Prime and Zoho Books
The PF electronic challan-cum-return, the ESI return and quarterly Form 24Q are produced from the same figures payroll deducted. Submission stays with your finance or compliance team. Payroll can also export General Ledger data for Tally Prime and Zoho Books.
See Government ReportsCONTROL & AUDIT TRAIL
Approval Controls And A Named Audit Trail
A pay cycle is released through maker-checker approval, and every edit, override, approval, rejection and reversal is recorded against a named user and timestamp.
SEGREGATION OF DUTIES
Maker-Checker Release
Key Capabilities
- Preparer and approver are distinct roles
- Sending a cycle back to draft requires a reason that stays with the cycle
- Entities that need finance and leadership sign-off can add approval levels
The person who prepared the cycle is not the person who releases it, and both actions are recorded against named users.
See Approval WorkflowAUDIT TRAIL
Named Audit Log
Key Capabilities
- Every action attributed to a user, not a shared account
- Logs kept against the cycle they belong to
- A closed period can be reconstructed from its own log
Edits, overrides, approvals and reversals are written to the audit log against a named user and timestamp, so a closed cycle can be explained from its own record.
See Payroll Audit LogsKEEP EXPLORING
Related Pages
Other payroll capabilities teams usually evaluate alongside this one.
Payslip Generation
Itemised payslips for every employee, generated from the approved register and published to self-service only on release.
ExploreEmployee Self-Service
Payslips, tax declarations and proofs, claims and salary history on demand, so payroll answers fewer routine tickets.
ExploreReimbursement Management
Employee claims move from submission through approval into the pay run, with each category taxed or exempted as configured.
ExploreAdvance Salary
Issue salary advances with a recorded approver and recovery schedule, then recover them across the agreed cycles without manual tracking.
ExploreSee loan management on your own payroll data
Book a walkthrough with our Kanpur-based payroll team and run a sample cycle on your own salary structure.