The amount of salary that can be withdrawn by the Employee is dependent on three factors:- – Employee’s attendance updated by the employer
– Monthly salary of the employee
– Percentage of salary for withdrawal as set by your employer/HR. After considering the above factors, empWel determines and displays the earned salary limit on the app on real-time basis.
– We do not charge any interest or processing fee from you to withdraw the earned salary. – You do not have to go through lengthy KYC processes and rejections.
– We do not access your personal data stored on your phone like other digital lending apps. We only charge a nominal amount as technology usage charges which can be as low as Rs. 5. We charge you this small amount in order to provide you a seamless experience of withdrawing earned salary directly in your bank account in seconds, much before your payday. This requires us to collaborate with your employer and various other vendors to create an efficient & secure and technological infrastructure.
Repayment of salary withdrawn is done via your employer. Your employer will deduct the amount withdrawn from your month end salary and pay it back to Empwel. The balance salary amount will be credited to your bank account on payday as usual.