Last updated on JANUARY 10, 2017
Applies to:Oracle HRMS (India) - Version 12.1.3 and later
Information in this document applies to any platform.
On : 12.1.3 version, India Payroll
Termination Element 'Loan Recovery' to be made optional.
Oracle Applications provides feature for calculating Loan Perquisite and there is one more element called "Loan Recovery" which is of type Termination Payment. This "Loan Recovery" element is attached to the employee when the employee is terminated.
Loan Recovery element consolidates the remaining Loan Payment EMIs as of the Actual Termination
Suppose 1 lac loan was given to employee on 1-Apr-2013 for 10 months.
April - 10000
May - 10000
Jun - 10000
Now Employee notifies on 10-Jul-2013 that he will leave organization on 10-Sep-2013. As we enter his termination details in system on 10-Jul-2013. Immediately Element Entry of Loan Recovery with value 70000 is created in month of September.
Now, element entry is created in September with 70000 value, we cannot deduct any EMI in month of July and August, which is not logical. So we will deduct the final amount also from employee with our custom functionality. In our functionality we can deduct 10000 in July and 10000 in August and then deduct remaining 50000 in September.
Steps to Reproduce:
The issue can be reproduced at will with the following steps:
1. Terminate employee few months in advance.
2. Check the Loan Recovery value
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