Provision to enter Opening Balance amount and already Paid installment details

In the loan approval screen, Employee will have the option to enter the loan opening balance amount, interest paid and balance no. of installments.
This option is especially useful in case the employee changes the organization, and from the previous organization, he wants to continue the loan and the EMI amount to be deducted from the current company.
They needs to simply enter the loan particulars like total sanctioned amount and Amount paid till date etc., Opening loan balance and installments details to be entered for continuation of the loan.

In the above example, employee total sanctioned amount is 150000 PF Loan, he paid for 10 months with 7500 as monthly EMI. So, total paid amount is 7500*10=75000. Remaining opening balance is 75000 which he will pay for next 10 instalments with 7500 EMI.
On selection of no. of instalments balance, instalments details table will be loaded with the amount to be deducted against every month till completion of the loan. As mentioned in the every row wise deduction amount, the same will be reflected in their payroll for the respective months.

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