Medical loan for specified diseases

Menu : Payroll > Compensation > Loan tab
Accessible to : Employees

If your company has given the option then you can request interest and tax-free medical loan for specified diseases for yourself or your family members. The following points should be clearly understood

1. Loan should be for self or family member

2. Disease should be from the specified list - the following diseases are in the list -  AIDS, Allergic Manifestations, Cancer, Chronic Renal Failure, Hemophilia, Neurological Disorders,  Parkinson's disease, Tuberculosis

3. Treatment should be done in an hospital approved by the government

4. If any amount is received from insurance for the treatment it should be updated as shown below

1. Requesting medical loan

- Click on "Request New Loan" and select "Medical Loan - Specified Diseases" in the drop-down.
 - Fill up the request form as shown below.

 2. Updating insurance claims

If any insurance claims are received they should be updated as soon as they are received. This has an impact on tax calculation. 

Click on "Update Insurance Amount" button on the row in the Loan Records table and update the insurance claim details as shown below.

Once you have updated the insurance claim details from the next payroll your might see an additional perquisite tax in your tax calculations.

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