Format of Undertaking Personal Loan from Company
I, _____ son of _____ resident of ________________ employed as _____ in _____ have applied for a personal loan for _____/- (_____ only)
I hereby authorize the company to deduct the monthly installments (EMIs) from my salary each month
In the event of my termination/resignation from the company before full payment of the loan amount, I hereby authorize deduction of the full outstanding balance of my personal loan, if any, from my Full & Final entitlements, including Gratuity, Leave Encashment and Bonus etc. failing which my Cheque No.________dated ______drawn on _____________________ may be encashed for the balance outstanding.
SIGNATURE OF EMPLOYEE