Free agreement template · Word

Employee Loan Agreement

An employee loan agreement is the binding contract between employer and employee once a staff loan is approved. It sets out the principal, interest, EMI schedule, salary deduction authority, what happens on resignation or termination, and default terms, so both sides have a clear written record.

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[Company Logo][Company Name]

EMPLOYEE LOAN AGREEMENT

Agreement No.:: [Reference Number]
Date:: [Date]
Place:: [City]

This Loan Agreement is made between [Company Name], having its office at [Company Address] (the Company), and [Employee Name], Employee ID [Employee ID], [Designation], residing at [Employee Address] (the Employee).

1. Loan

The Company agrees to lend the Employee ₹[Amount] (Rupees [Amount in Words]) for [Purpose], disbursed by bank transfer on [DD/MM/YYYY].

2. Interest

The loan is interest-free / carries simple interest at [Rate]% per annum on the reducing balance. Any perquisite tax arising will be handled through payroll as per law.

3. Repayment Schedule

EMI No.	Salary Month	Principal (₹)	Interest (₹)	EMI (₹)	Closing Balance (₹)
1	[Month Year]	[Amount]	[Amount]	[Amount]	[Amount]
2	[Month Year]	[Amount]	[Amount]	[Amount]	[Amount]
3	[Month Year]	[Amount]	[Amount]	[Amount]	[Amount]
...	...	...	...	...	...
[Last]	[Month Year]	[Amount]	[Amount]	[Amount]	0

4. Salary Deduction Authority

The Employee irrevocably authorises the Company to deduct each EMI from monthly salary starting [Month Year], within the limits permitted by applicable wage law. If salary in a month is insufficient, the unrecovered EMI will be carried forward.

5. Prepayment

The Employee may prepay the outstanding balance in full or part at any time without penalty.

6. Separation from Employment

If employment ends for any reason before full repayment, the entire outstanding balance becomes payable on the Last Working Day. The Company may adjust it against the full and final settlement, and the Employee shall pay any remaining shortfall within [Number] days.

7. Default

If the Employee fails to repay amounts due, the Company may recover them through lawful means after giving written notice and an opportunity to respond.

8. General

This agreement is governed by the laws of India; courts at [City] shall have jurisdiction.
Any change to the schedule must be in writing signed by both parties.
The Employee confirms having read and understood this agreement and received a copy.

For [Company Name]
[Authorised Signatory]
[Designation]

Employee
[Employee Name]
Date: [Date]

Witness 1
[Witness Name]

Witness 2
[Witness Name]

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What this template includes

Parties, loan amount and purpose
Interest rate or interest-free clause
Repayment schedule table with EMI and balance
Salary deduction authority
Acceleration on exit with F&F recovery
Prepayment, default and governing law clauses

When to use it

After a loan application is approved and before disbursement
For larger loans such as housing or vehicle loans
When a salary advance will be recovered over several months
When restructuring an existing loan's EMI

How to customise this template

1Fill the schedule from your approval note
2Choose interest-free or insert the rate
3Add a guarantor clause if needed
4Execute on stamp paper of the value required in your state, if your adviser recommends it

HR tips

Give the employee a signed copy
Keep deductions within limits under applicable wage law
Update the schedule in writing if EMIs are paused or restructured
Check perquisite tax treatment of concessional loans with payroll

This agreement is a starting point. Review it against the Code on Wages and applicable deduction rules, state stamp duty requirements and your loan policy, with a legal adviser where needed.

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Frequently asked questions

Is a loan agreement needed for an employee loan?+

It is strongly recommended. A written agreement records the amount, schedule and deduction consent, reducing disputes if the employee leaves.

Can the company deduct loan EMIs from salary?+

Deductions for recovery of loans and advances are generally permitted under wage law within prescribed limits, with the employee's written authority.

What happens to the loan if the employee resigns?+

The agreement usually makes the balance immediately payable and allows recovery from the full and final settlement, with any shortfall paid by the employee.

All 50 employee benefits & insurance →

[Company Logo][Company Name]

EMPLOYEE LOAN / SALARY ADVANCE APPLICATION

Company:: [Company Name]
Application No.:: [Reference Number]
Date:: [Date]

Applicant Details

Employee Name
Employee ID
Designation
Department
Date of Joining
Probation Completed: Yes / No
Monthly Gross Salary: ₹[Amount]
Monthly Net Take-home: ₹[Amount]

Loan Details

Purpose: Medical / Education / Marriage / House Repair / Vehicle / Emergency / Other
Brief Explanation
Amount Requested: ₹[Amount]
Proposed Tenure (months)
Proposed Monthly EMI: ₹[Amount]
Interest: Interest-free / [Rate]% per annum as per policy
Required By	[DD/MM/YYYY]

Existing Loans and Advances with the Company

Form · Word

Employee Loan Application

Download .docx

[Company Logo][Company Name]

LOAN SANCTION LETTER

Ref. No.:: [Reference Number]
Date:: [Date]

To,
[Employee Name]
Employee ID: [Employee ID]
[Designation], [Department]

Subject: Sanction of Employee Loan against Application No. [Reference Number]

Dear [Employee Name],

With reference to your application dated [DD/MM/YYYY], we are pleased to inform you that the Company has sanctioned a loan on the following terms:

Particulars	Details
Amount Requested	₹[Amount]
Amount Sanctioned	₹[Amount]
Purpose	[Purpose]
Interest	Interest-free / [Rate]% p.a. on reducing balance
Tenure	[Number] months
Monthly EMI	₹[Amount]
First EMI	Salary of [Month Year]
Disbursement	On or after [DD/MM/YYYY], to your salary account

Repayment Schedule

Letter · Word

Employee Loan Approval

Download .docx

[Company Logo][Company Name]

EMPLOYEE LOAN RECOVERY STATEMENT

Company:: [Company Name]
Statement Date:: [Date]
Loan No.:: [Reference Number]

Loan Summary

Employee Name	Employee ID	Sanctioned (₹)	Disbursed On	Interest	Planned EMI (₹)
[Employee Name]	[Employee ID]	[Amount]	[DD/MM/YYYY]	[Interest-free / Rate%]	[Amount]

Recovery Ledger

Salary Month	Opening Balance (₹)	Planned EMI (₹)	Actual Deducted (₹)	Prepayment (₹)	Closing Balance (₹)	Remarks
[Month Year]	[Amount]	[Amount]	[Amount]	0	[Amount]	-
[Month Year]	[Amount]	[Amount]	0	0	[Amount]	EMI holiday approved
[Month Year]	[Amount]	[Amount]	[Amount]	[Amount]	[Amount]	Part prepayment
[Month Year]	[Amount]	[Amount]	[Amount]	0	[Amount]	-

Position as on Statement Date

Report · Word

Employee Loan Recovery Statement

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[Company Logo][Company Name]
EMPLOYEE BENEFITS ENROLLMENT FORM
Company:
[Company Name]
Form No.:
[Reference Number]
Date of Submission:
[Date]
Enrollment Deadline:
[DD/MM/YYYY]
Please complete all sections within the enrollment window and return this form to [HR Name], Human Resources. Benefits will be activated only after HR verification.
Section A: Employee Details
Employee Name (as per PAN)
Employee ID
Designation
Department
Date of Joining
Work Location
Date of Birth
Gender
Mobile Number
Personal Email
PAN
Aadhaar (last 4 digits only)
Section B: Statutory Benefits
UAN (if already allotted)
Previous PF Account / Member ID
ESI IP Number (if applicable, for gross wages up to ₹21,000/month)
Opting for higher PF contribution: Yes / No
Form · Word
Employee Benefits Enrollment Form
Download .docx

Employee Name (as per PAN)
Employee ID
Designation
Department
Date of Joining
Work Location
Date of Birth
Gender
Mobile Number
Personal Email
PAN
Aadhaar (last 4 digits only)

UAN (if already allotted)
Previous PF Account / Member ID
ESI IP Number (if applicable, for gross wages up to ₹21,000/month)
Opting for higher PF contribution: Yes / No

[Company Logo][Company Name]

EMPLOYEE INSURANCE DETAILS FORM

Company:: [Company Name]
Record Date:: [Date]
Last Updated:: [DD/MM/YYYY]

Employee Information

Employee Name
Employee ID
Designation
Department
Work Location
Date of Joining
Mobile Number

Coverage Summary

Cover	Insurer	Policy No.	Member / E-card ID	Sum Insured (₹)	Valid Till
Group Mediclaim	[Insurer Name]	[Policy Number]	[Member ID]	[Amount]	[DD/MM/YYYY]
Group Term Life	[Insurer Name]	[Policy Number]	[Member ID]	[Amount]	[DD/MM/YYYY]
Group Personal Accident	[Insurer Name]	[Policy Number]	[Member ID]	[Amount]	[DD/MM/YYYY]
Voluntary Top-up	[Insurer Name]	[Policy Number]	[Member ID]	[Amount]	[DD/MM/YYYY]

Statutory Coverage

Form · Word

Employee Insurance Details Form

Download .docx

[Company Logo][Company Name]

REQUEST FOR ADDITION OF MEMBERS

Ref. No.:: [Reference Number]
Date:: [Date]

To,
[Insurer / Broker Name]
[Address]

Subject: Addition of members under Policy No. [Policy Number] – [Company Name]

Dear Sir/Madam,

Please add the following members to our group policy(ies) with effect from the dates mentioned below. Kindly adjust the applicable premium against our CD Account No. [Account Number] and share the endorsement copy and e-cards at the earliest.

Emp ID	Member Name	Relationship	Date of Birth	Gender	Effective Date	Policies (GMC/GTL/GPA)	Sum Insured (₹)
[Employee ID]	[Employee Name]	Self	[DD/MM/YYYY]	[M/F]	[Date of Joining]	[GMC, GTL, GPA]	[Amount]
[Employee ID]	[Member Name]	Spouse	[DD/MM/YYYY]	[M/F]	[DD/MM/YYYY]	[GMC]	[Amount]
[Employee ID]	[Member Name]	Child	[DD/MM/YYYY]	[M/F]	[DD/MM/YYYY]	[GMC]	[Amount]
[Employee ID]	[Employee Name]	Self	[DD/MM/YYYY]	[M/F]	[Date of Joining]	[GMC, GTL]	[Amount]

Summary

Form · Word

Employee Insurance Addition Request

Download .docx

[Company Logo][Company Name]

REQUEST FOR DELETION OF MEMBERS

Ref. No.:: [Reference Number]
Date:: [Date]

To,
[Insurer / Broker Name]
[Address]

Subject: Deletion of members from Policy No. [Policy Number] – [Company Name]

Dear Sir/Madam,

We request you to delete the following members from our group policy(ies) with effect from the dates stated. Kindly deactivate their e-cards and credit any refundable premium to our CD Account No. [Account Number].

Emp ID	Member Name	Relationship	Deletion Date	Reason	Claim Pending (Y/N)
[Employee ID]	[Employee Name]	Self + Family	[Last Working Day]	Resignation	[Y/N]
[Employee ID]	[Employee Name]	Self	[Last Working Day]	Termination / Retirement	[Y/N]
[Employee ID]	[Member Name]	Child	[DD/MM/YYYY]	Age limit crossed	[Y/N]
[Employee ID]	[Member Name]	Spouse	[DD/MM/YYYY]	No longer eligible	[Y/N]

Where a claim is marked as pending, please continue processing it for treatment taken during the period of cover. Employee [Employee Name] has requested information on portability or conversion; kindly contact them at [Mobile / Email].

Letter · Word

Employee Insurance Deletion Request

Download .docx

Form · Word
Employee Insurance Correction Form
Download .docx

Member Name (as currently on e-card)
Relationship
E-card / Member ID

Employee Loan Agreement

Preview of the agreement

1. Loan

2. Interest

3. Repayment Schedule

4. Salary Deduction Authority

5. Prepayment

6. Separation from Employment

7. Default

8. General

What this template includes

When to use it

How to customise this template

HR tips

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Frequently asked questions

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