Your loan EMI may not have been deducted due to several possible reasons.
1. If the Loan is rescheduled
If there are any changes in the schedule from the Employer or the Employee’s end, then the loan schedule will be revised. This process is called rescheduling a Loan.
To check if there has been a reschedule to the loan, Go to
Transactions >> Salary Loans and Advances >>Workflow>> Disburse Loans.
a. Click “View / Edit” against the specific employee.
b. Check the “Repayment Schedule” grid.
c. EMI will not be displayed if there is any rescheduling applied to the Loan.
2. If the Loan Schedule is incorrectly updated
While updating the Loan disbursement, if the No of months paid is incorrectly updated as more than the No of installments, the system will consider that the loan is fully repaid. Due to this, the recovery will not happen in the payroll process.
To check if there has been a reschedule to the loan, Go to
Transactions >> Salary Loans and Advances >>Workflow>> Disburse Loans.
a. In the Loan Disbursement process, there are fields “No of Instalments” and “No of months paid”.
b. The former is for how many months the Loan should be deducted and the latter displays how many months the Loan has already been deducted.
c. If the No of months paid is updated instead of the No of Instalments.
3. If Payout is already updated:
If employee has already paid a particular month’s EMI outside Payroll, the same will be updated in the system under Manage Payment, due to which the Loan recovery for that month will not happen.
To check if there has been any update, Go to
Go to Transactions >> Salary Loans and Advances >>Workflow>> Manage Payments
4. If waived-off:
If the Employer has waived off the Loan recovery of an employee, the same is updated under Closure/Waiver. Due to this Loan will not be deducted from the payroll.
To check if there has been any Closure/Waiver, Go to
Go to Transactions >> Salary Loans and Advances >>Workflow>> Closure Waiver.
Despite checking on the above conditions the EMI is still not getting deducted, please reach out to the Support team for assistance.