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Authorization Letter To Deduct Sss Loan
"I need an Authorization Letter To Deduct SSS Loan for my company's new employee who has taken a $50,000 SSS loan, with monthly deductions of $2,000 starting from March 2025, in compliance with Singapore employment laws."
1. Employee Information: Full name, ID number, employee number, and contact details of the employee authorizing the deduction
2. Loan Details: Loan reference number, total amount, and repayment terms
3. Deduction Authorization: Explicit consent statement authorizing salary deduction, including specific amount and frequency
4. Payment Details: Account information and payment scheduling information
5. Declaration: Statement of understanding and agreement to terms, including signature block
1. Emergency Contact: Alternative contact person's details for situations when the employee cannot be reached
2. Early Termination Clause: Procedures and terms for early loan repayment or employment termination scenarios
1. Repayment Schedule: Detailed breakdown of payment dates and amounts over the loan period
2. Loan Agreement Reference: Copy or reference details of the original loan agreement
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