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Took loan from my company how can I repay it in case I leave this job
22-Jun-2023 (In Labour & Service Law)
dear sir/madam, Iam working for public ltd company for the past 13 years. I have availed a society loan for rs.7lakhs from the company and repaying it every month thru salary..if I need to quit this job for career sake what are the formalities. Since I am into home loan I struggling financially and I can't repay the loan immediatley..kindly advise other alternatives if I need to join another concern..i have even withdrawn my pf for home loan purpose and total pf/gratuity comes to around 2.5lakhs only
You can resign from the service as per the rules and regulation. You need to make the payments for the loan that you have taken from the public limited company or a case will be initiated against you. It will be best for you to settle the loan account with the company and then resign if you wish to join somewhere else.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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