Hi All
Employee has taken loan on APR 2013 of amount 2200000. Same month repayment of 25000 is started on 0% interest.
SBI rate is 18% is charged for perk calculation on balance.
2200000x18%x30/365 = 32,547.95
/3J1 should be 32547.95x12 months=390575.34
Where system is showing /3J1 = 366,164.39.
Can anyone explain how this amount is getting calculated and how /3J1 should calculate.
regards
sai