Free Download Template
Salary Advance Policy
Define rules and guidelines for employees with respect to the process to be followed for salary advance.
Payroll or Salary advance policy describes the Company’s terms for advancing pay to your employees as an emergency short-term loan. This policy is designed to support employees to tide-over any urgent financial exigency or emergency for a short period. This policy template is available for download in Word format.
With this Salary Advance policy template you can:
- Define the eligibility criteria
- Create a process for requesting an advance
- Set up an approval mechanism
- Recovery through Payroll
In just a few minutes you will be able to set up a policy that covers most of the necessary information required. This policy covers rules to be followed with respect to:
- Criteria for Advance payment
- Approval process to be followed
- Input to Payroll for deduction and lots more…
Disclaimer: This template is meant to provide general guidelines and should be used as a reference. This is not a legal document. greytHR will not assume any legal liability that may arise from the use of this template.