Agreement For Salary Advance

A salary advance for employees is not like lending a few dollars to a friend. Your friend might pay you back at some point if they have the money, but there`s no guaranteed time for you to get the borrowed money back. A salary advance is a real credit with repayment conditions. In your payday advance policy, you can also note your preferred method of deducting wages for reimbursement. An employee`s specific reimbursement plan should be detailed in the payroll agreement. If you allow advances, it is advisable to have an advance directive on wages. An established guideline helps you decide fairly when you give an advance on the pay slip, how much you advance and what the repayment terms are.

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