EMPLOYEE LOAN MANAGEMENT
INTRODUCTION OF PROJECT
In finance, a loan is the lending of money from one individual, organization or entity to another individual, organization or entity. A loan is a debt provided by an organization or individual to another entity at an interest rate, and evidenced by a promissory note which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants.
AIM OF PROJECT
This project is aimed to develop web application automate in managing the employee profile and their loans in an organisation. The aim of the project is to maintain the employee, department, designation, information. It also provide a structured method of managing employee’s loan type and billing details etc. A web based solution will ensure that the management with the intranet access will be able to use the system without installing additional software.