Deductions for recovery of employee loans are permitted, with extent and interest rates to be prescribed under wage law. Section 24 authorises deductions from wages for recovery of loans granted to an employee under clause (g) of subsection (2) of section 18, and provides that the permissible extent of such loans and the rate of interest payable shall be as prescribed, establishing a delegated regulatory framework for employee loans and wage deductions.
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Provisions expressly mentioned in the judgment/order text.
Deductions for recovery of employee loans are permitted, with extent and interest rates to be prescribed under wage law.
Section 24 authorises deductions from wages for recovery of loans granted to an employee under clause (g) of subsection (2) of section 18, and provides that the permissible extent of such loans and the rate of interest payable shall be as prescribed, establishing a delegated regulatory framework for employee loans and wage deductions.
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