How to let an employee skip loan EMI for a month?

Loan EMI (Equated Monthly Installment) is the fixed monthly payment a borrower makes toward loan repayment, including both principal and interest.

In certain cases — such as financial emergencies, cash flow issues, or unforeseen expenses — an employee may need to skip a loan EMI for a month.
However, note that skipping an EMI may result in additional interest or fees.

Steps to Skip a Loan EMI

1. Go to Payroll → Loans → Outstanding Loans.

   

2. Locate the employee in the list.

3. Under Status, find the loan marked as In Progress and click View under Actions.

   

4. In the Loan Details window, click Click Here on the ribbon.

   

5. In the Change Term or Override Loan for Upcoming Payment window, select Skip EMI for the question:
   “What do you want to do with this loan EMI?”

6. Choose how this affects future installments:

   • Increase the EMI Amount, or

   • Extend the Number of EMIs.

7. Add a comment explaining the reason (optional) and click Save.