New Jersey Loans laws & HR compliance analysis

New Jersey Loans: What you need to know

New Jersey law permits employers to make deductions from their employees' wages to repay loans made by the employer in accordance with a periodic payment schedule contained in the original loan agreement or to pay for company products purchased from the employer in accordance with a periodic payment schedule contained in the original purchase agreement (NJ Stat. Sec. 34:11-4.4). The employer must include deductions for loan repayment on the statement of deductions provided with each paycheck.
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Last updated on March 3, 2016.

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