Salary Transfer Letter (STL) Format for 2020
Salary Transfer Letter Format for 2020
A salary transfer letter is basically a letter issued by an employee’s company, where the employer in a company addresses a letter on the company’s letterhead, mentioning that salary of the employee mentioned in the letter would be credited only to the bank, which will approve the loan.
In a work setting, be it for public or private purposes, it is inevitable that the position and status of employees also change.
An example of change is the transfer of employees from one station to another. In this case, such transfer may change the compensation, benefits, and responsibilities of the said employee.
Salary transfer letter standard Chartered Bank
Correspondingly, we have salary transfer templates that you can use to perform such procedures. They are of high quality and definition.
They are also easy to use and download. To learn more about them, see our list of templates, salary samples, and guides.
If you are looking for other letter templates for specified transactions, we also have templates in store for you.
For Citibank Download PDf Format
What is the Salary Transfer Letter (STL)?
This is a letter that your employer will address to the CBD. STL is a commitment by your employer to CBD that your salary will be deposited in your designated account with CBD until you have fully paid the CBD personal loan.
The letter will also include other conditions as agreed between your employer and the CBD. This letter should be prepared on your employer’s letterhead.
In a format that is approved by the CBD and specified by your employer and notified to the CBD will be duly signed by the authorized signatories.
Emirates Islamic Bank PDf Download
It is a letter issued by a company of employees, in which the employer mentions in a letter with a company’s letterhead that an employee’s salary will be deposited in a certain bank.
The status and designation of an employee are likely to change over the years where he is working in a private job or in the public sector.
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Difference between transfer letter and transfer request
Whenever an employee of a company or organization is being transferred to another department or branch, a transfer letter is made.
It is part and parcel of the transition process, especially while assuring that changes in the salary of the employee are also taken into consideration. But a transfer letter is not synonymous with a transfer request. Here are some of its differences:
A letter of transfer is only considered as a petition in favor of an employee accepting his request to transfer to a different department, office, or branch.
On the other hand, the pay transfer letter is an official notice indicating a relevant change in the office where the employee is working and working.
In terms of formality, the structure and format of the payment transfer letter should be professional and official than requested.
It should be brief and concise. In addition, all relevant records and files of the employee must also be processed and transferred.
Salary Transfer Letter Format uae