Dear Experts,
Could you please advise how to write PCR for Flat Interest rate for the Loan paid to employeee for the below business example.
eg: If an employee takes loan for Rs. 1000 and the interest rate is 5% flat for 60 months, then the monthly repayment is Rs. 16.66 + 4.16 (1000*5/100 = 50 /12 = 4.16 per month) = 20.83 (monthly fixed repayment for 60 months).
Thanks in advance.,
Raj.