TOTALGAZ SOUTHERN AFRICA (PTY) LTD

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STAFF LOAN POLICY
SCOPE/OBJECTIVE: The scoe o! "h#s o$#c% &$#es "o &$$ e'$o%ees o! (YZ#
Personal loans &ill onl' (e granted &$ere t$ere is a serious need or &$ere emergenc' relief is
re)uired due to circumstances t$at could not $ae (een foreseen (' t$e em!lo'ee or &$ere
emergenc' relief is re)uired#
TOTALGAZ SOUTHERN AFRICA (PTY) LTD
Sec
tion
:
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ref:
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021
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A!!lications must (e made in &riting on t$e loan a!!lication form* signed and t$en sent to t$e
H#R# de!artment#
+oans ma' not e,ceed t$e em!lo'ee-s net salar' for one mont$#
A loan agreement &ill (e dra&n u! and t$e interest rate and re!a'ment terms &ill (e sti!ulated#
Re!a'ments are to (e deducted in accordance &it$ t$e loan agreement from t$e em!lo'ees-
salaries and must (e re!a'a(le &it$in . mont$s# /$e' s$ould not e,ceed 100 of t$e em!lo'ee-s
mont$l' net remuneration#
TOTALGAZ SOUTHERN AFRICA (PTY) LTD
Sec
tion
:
Ad
min
File
ref:
HR
021
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It is t$e res!onsi(ilit' of t$e em!lo'ee to !roide !roof 1 su!!orting documentation to su(stantiate
t$e loan a!!lication#
+oans &ill onl' (e !rocessed once a &ee2 3&ill (e !aid &it$in 4 da's5#
Pa'ment &ill not (e made until t$e loan agreement $as (een signed and returned to t$e H#R#
6e!artment#
/$ere is interest on !ersonal loans* at t$e current !rime lending rate# Interest is fi,ed for t$e loan
re!a'ment !eriod and does not fluctuate &it$ t$e !rime lending rate#
TOTALGAZ SOUTHERN AFRICA (PTY) LTD
Sec
tion
:
Ad
min
File
ref:
HR
021
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All loan agreements and su!!orting documentation &ill (e filed on t$e em!lo'ee-s !ersonal file#
Administration &ill ensure t$at all loans re!a'ments 78S/ (e !rocessed on t$e Pa'roll s'stem to
ensure t$at salar' deductions are made and t$at t$e correct fringe (enefit ta, entries are raised#
A mont$l' reconciliation is conducted (' t$e Human Resources 6e!artment to ensure t$at loans
are recoered as !er loan agreement#
+oans e)ual to1or greater t$an R10 000 or to 7A9:;7 mem(ers must (e a!!roed (' t$e 7#6#
9o loan &ill (e granted if t$ere is a (alance outstanding on a !reious loan#
TOTALGAZ SOUTHERN AFRICA (PTY) LTD
Sec
tion
:
Ad
min
File
ref:
HR
021
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A cooling off !eriod of t$ree 335 mont$s in (et&een loans &ill a!!l'#
Lo&)s &*e +#,e) &" "he -#sc*e"#o) o! '&)&+e'e)"#
All loans must (e !aid in full* including interest on termination of em!lo'ment#