Wei Hui's avatar'
Wei Hui•4 tahun yang lepasAbout Salary & Benefits

Can the company provide loans for staff?

If the company provide loan(housing or car or personal) to staffs and will charges interest at 3% per annum, is it against the law?



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James's avatar'
James•5 tahun yang lepas
There are many other companies with the same benefits. Even housing loan to staff is also common.
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James•5 tahun yang lepas
my previous company also offered the same benefit, we do have motorcycle loan, study loan & computer loan. the loan is between the comp and the employee with 4% interest.
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James•5 tahun yang lepas
When I was working with Ericsson In the 80s, yes Ericsson provide this facilities but the loan was not between me n Ericsson but with another financial credit company which collaborate with Ericsson
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James•5 tahun yang lepas
Nothing prohibits, except loan for directors need to comply with companies’s act requirement
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James•5 tahun yang lepas
It depends on company policy and may be subject to company’s constitution
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James•5 tahun yang lepas
Some company have this perk
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James•5 tahun yang lepas
Provide the company is a financial institution, because they need to have license to collect money for staff/public. That is the Act.
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