Most Important Terms and Conditions (MITC) between the user of the Earned Wage Access (EWA) program that is run on Myfinfi World Private Limited’s platform by the employer of the user of the app & MyFinfi World Private Limited, a Company incorporated under the Companies Act, 1956 and having its registered office at C/o Mr Tushar Shridharani, 10 New Marine Lines, 417, Jolly Bhavan No. 1 Mumbai – 400020. , hereinafter called "MyFinfi World" are agreed upon and mentioned as under: 

 

1. MyFinfi World  partners with employers to assist employers in providing employees’ earned but unpaid wages in advance of payday. This service is governed by the employment contract that exists between the user and his employer. The employment contract mandates certain obligations on the employee including but not limited to serving a notice period, returning company owned property etc at the time of voluntary resignation, termination or end of employment for any other reason. If the user/employee doesn’t fulfill the obligations of the contract including serving a notice period, returning company owned property etc and has dues over and above his earned wage on the day he stops reporting to work then the employer has the right to pursue legal recourse for the clawback of his earned wages that have been availed on our platform.

2. While using our platform, you declare that you continue to be in employment of the employer who has extended this service to you

3. While using our platform, you declare that you will stop using our service the moment you tender resignation from the organization or stop accruing earned wages for any other reason

4. There is no fee or interest charged directly to the user/employee by Myfinfi World Private limited but Myfinfi World can charge fees for other services including but not limited to printing and delivery of physical cards and fees for any additional service that may be introduced from time to time

5. MyFinfi World platform is used by employers in conjunction with the payroll systems for running an earned wage access (EWA) program. Employers may ask for additional integrations to calculate an accurate net earned wage. This is done to practically eliminate the risk that amounts paid to workers before payday exceed amounts otherwise due from the employer to the employee. Amounts paid are deducted from employees’ pay. In case of any overpayments through the platform employer will have the right to adjust it against future payments and/or F&F 

6. MyFinfi World delivers the requested portion of the earned wage through two means: either to the employee’s salary account as per request made on the app or makes it available through a prepaid card which can be used at all card accepting merchants across India

7. Prepaid card are c0-branded and issued by LivQuik which is licensed by the Reserve Bank of India as a Prepaid Payment Issuer.

8. FINFI platform comprises a backend portal provided to employers & an app where employees can track & access their earned wage. FINFI contracts with employers to provide a platform for employees to access their earned wage which is then adjusted against the month end salary. FINFI doesn't provide loans and  therefore doesn't conduct any credit checks on the employees.

9. Employer may pass on the platform cost to the employees. Employers may also ask employees to pick costs for card printing & delivery. In such cased FINFI may use a RBI authorized PG to collect card and platform fee from the employees. All fees charged by Myfinfi world private limited are non-refundable. 

  

It is hereby agreed that for Most important terms and conditions of the usage of this service, the parties hereto shall refer to and rely upon this document. The above terms and conditions have been read by the user/employee and have been understood by the user/employee