Is it possible to pause loan repayments for my employee temporarily?

During times of financial difficulty or unforeseen personal circumstances, providing financial support can help employees manage critical situations more effectively. Zoho ERP allows you to pause employees’ loan instalment deductions briefly using the Pause option.

To pause a loan:

Go to Payroll on the left sidebar.
Navigate to Loans tab on the module bar on top.
Select the employee for whom you want to halt the loan repayments temporarily.
Click the More icon (three horizontal dots) on the top right corner and select Pause Instalment Deduction.
You can choose to pause the loan instalment deductions Immediately or from a Scheduled month.
If you’ve selected On Scheduled Month, select the month from which the instalments need to be paused.
Select the month from which you want to resume the loan deductions. If you do not want to specify it, you can leave it empty.
Enter a reason and click Save.

The loan deductions will be paused for the employee for the selected period. You can find these details in the respective employee’s profile under the Loans tab as well as in the Loans module. You can also select or edit the month on which you want to resume the loan deductions here.

Alternatively, you can edit the resume month after you’ve processed the next pay run.

To change the resume month:

Go to Payroll on the left sidebar.
Navigate to Loans tab on the module bar on top and select the paused employee loan you want to resume.
In the information banner on top of the loan details, click Edit Resume Month.
In the pop-up, choose when you want to resume the loan deductions, Immediately or On a Scheduled Month and click Save.

Loans deductions will be resumed accordingly.