Frequently Asked Questions

Earned Salary Access (ESA) or On-demand salary – what is it?

It is a service which helps employers enable employees to access a portion of their earned income real-time before payday. The advance amount is repaid to Jify (i.e. Service provider) on payday, while the balance amount is credited to employees as per the standard payroll process.

How does it work?

Jify integrates seamlessly with attendance and payroll systems and leverages this data to provide real-time earned salary access to employees. We do not impact the employer’s working capital. Jify’s financing partners advance the money to the employees directly and hence, there is no risk exposure to the employer.

How soon can Jify go live with an employer / corporate?

It takes anywhere between 3-5 days, but can vary for some corporates. Jify provides a dedicated team for every employer to ensure a seamless experience.

What data security & privacy measures does Jify have in place?

Currently, Your employees’ data is safe and secure behind firewalls. Jify does not share your employees’ data with any third party for commercial purposes.

Is this going to add additional workload to finance/payroll?

Simply put – no. Our proprietary system integrates seamlessly with your payroll software allowing you to continue operating as if nothing had changed.

How are you different from the other lenders in the market?

We offer full flexibility to employees to manage their finances while offering educational and learning tools to promote best practices. No more predatory loans, lengthy KYC processes and loan refusals.

Are there costs to the company for offering Jify?


What are the charges for earned salary access?

Jify does not charge any interest to the employee since this is not a loan. There is a nominal per transaction processing fee as low as Rs. 5

Do users need to pay interest?


How can my employees access Jify?

It's a simple 3 step process:

1. Employees have to download the Jify app
2. Enter their employee details & KYC
3. Select the amount they want to withdraw and Confirm.

The funds are transferred to their account in real time

How will Earned Salary Access or Earned Wage Access work for my employees?

Let's assume that you have been working on your money management, but perhaps you went a little bit over budget for the month. Electricity bill is due on Monday, but you won’t get paid till Friday. You're set to overdraft if money doesn't hit your account soon. This is where Jify comes in to help you take your own earned salary when you need it urgently. Think of it as a parachute, helping you land safely at the end of the month.

The Salary Advance product was designed to break the 30-day pay-cycle, so when you find yourself in a financial emergency or simply need an injection for a quick holiday, you can Jify.

For example, if you were last paid on Day 15 of Month 1, and you need money on Day 20 of Month 1, you can go to Jify and it will allow you to access your earned salary for 5-days of your hard work.

Is it available to everyone?

Yes, as long as your employer has partnered with Jify, you can access your salary whenever you choose.

What portion of my salary is available for me to withdraw?

This varies between based on inputs from your employer.

Where can I access my salary?

You can take your salary advance into your salary bank account or the Jify card. The Jify card can be used for spending at your favourite points of sale like any normal debit card.

How long does it take after I take a salary advance?

It is instant

How do I repay my salary advance?

You can sit back and RELAX. Repayment of your advance is via your employer i.e. your employer deducts the advance amount due from your month end salary and pays it to Jify. The balance salary amount is credited to your bank a/c

Do I have to repay my advance all at once?

No, Jify gives you the option to repay your advance by way of 3 fixed EMIs. But this option is available only if the employer chooses to avail this facility for its employees

What is the Jify card?

Once you have completed the one-time ekyc, you will be able to view your Jify Rupay digital prepaid card details and make purchases with any online merchants of your choice. This card is similar to any online debit card with an entire suite of benefits.

Can I withdraw money from the Jify prepaid card?

Yes, the Jify physical card can be used to withdraw cash from 1.5Lakh + atms in the country

How can I raise my issue or complaint, if I face any problem with the application or payment processing?

You can call the Jify representative for your company or email us and we will respond as soon as possible.

About Jify

At Jify, we enable you to empower your employees with their money, when they need it. With us, you partner with the ultimate tool for improving employee retention, engagement, and financial wellness.

Savings on Employee Retention

The cost of hiring a new employee is more than retaining an existing one, and this is not just limited to the higher salary offered to new recruits! The HR resources and time involved in hiring a new employee are often overlooked while calculating the savings on employee retention. Most calculations only consider the savings on negotiated salary and perks, whilst keeping the costs of recruitment, acquisition, and opportunity constant.

Using a tool such as an employee retention savings calculator can help evaluate capital saved quickly and easily.

What is attrition replacement cost?

Attrition replacement cost is the amount incurred while hiring a new employee as a replacement for an exiting employee. In simple terms, it is the cost of hiring an employee.

How to calculate attrition replacement cost?

Attrition replacement cost can be easily calculated through a unified formula. Before moving to the formula, it is essential to factor in a few metrics:

Average Attrition Rate

Average attrition rate determines the total number of employees that have left the company in a specific time period.

Average Daily Salary

This is the average daily salary of the resource that is to be replaced. Through this metric, the new employee’s monetary ask can be evaluated.

Attrition Replacement Cost %

Either of the following metrics can be used for determining the attrition replacement cost %: 

  • Average cost incurred in the previous year for hiring an employee’s replacement + inflation 
  • An industry standard published in a credible whitepaper

To calculate the attrition replacement cost, the following formula can be considered: 

Recruitment cost for hiring a new employee 

= [(Attrition Replacement Cost %) X (Average Daily Salary) X 356]

Let’s consider an example for a better understanding of the formula:

Average Attrition Rate: 20% 

Average Daily Salary: Rs. 700 

Attrition Replacement Cost: 50% 

Recruitment cost for hiring a new employee 

= [(Attrition replacement cost %) X (Average Daily Salary) X 356]

= [(50 %) X (700) X 356] 

= Rs. 1,27,750

The importance of calculating employee retention cost savings

The workforce is the most abundant and expensive resource for any company. That’s why it’s a common business practice to evaluate the investment in human capital and derive results accordingly. 

Calculating the savings from employee retention can help businesses make better resource management decisions. By evaluating the industry/previous years’ recruitment costs, businesses can underwrite a cap to the efforts required for retaining employees, leading to smarter investment planning and growth prediction.

Back to top