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Salary Advance

At times, a person may have an urgent need for money. Apart from options like Loans or credit cards, there is another route—salary advance.

Sometimes, companies allow their employees to avail of an advance against the salary payable. The recovery can either happen one-shot during the next payroll cycle or spread out over a few months. The advance taken by the employee is a taxable income that is included in the total earnings projection.

Referred in
Salary Advance