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Former Member
Nov 15, 2007 at 10:33 AM

Loan Interest Calculation for 20 months


Hi Gurus,

I am giving personal loan to one employee Rs300000, the emi is 15000 for 20months, when i run the payroll, the system is calculate his emi for 20months & interest is calculate only for one year.

i want to deduct this empoloyee interest total 20months. Not for 1 year only.

Emi calculation is ok for 20 months but the interest calculation is rong

(i am using indian payroll. i check the company loan setting Loan types defination & Condition interest calculation method is 30/360)

Pls Advised