Salary Component
A salary comprises of several different
earning, deduction and reimbursement components.
Note: After payroll is set up for the components you’ve associated with
one or more employees, you can only edit the Name and Amount/Percentage. The
changes made to Amount/Percentage will apply only to new employees.
Add Earning
Any money that an employee receives as an income is termed as an earning. Some of the common earning components are Basic, Housing and Transport (BHT), and Other Allowance.
Any money that an employee receives as an income is termed as an earning. Some of the common earning components are Basic, Housing and Transport (BHT), and Other Allowance.
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Steps |
Actions |
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1 |
Go to Settings > Salary Components |
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2 |
Click Add New Component > Component Type |
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3 |
Select the Component Name > Calculation Type (either Percentage or fixed Amount)
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|
4 |
Enter the value and tick or untick if its taxable or pensionable |
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5 |
Click Save Component |
Same thing Applicable to Deductions and Benefits
Add Deductions
Add Deductions
They
are the specific amounts taken out of your total earnings to pay for taxes,
benefits, or other obligations.
Pay grade: Pay grades are basically
for grouping or categorizing. It can also be used as a template for employees
with the same pay components.
How to add a Pay Grade:
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Steps |
Actions |
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1 |
Go to Settings > Salary Components. |
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2 |
Click Add New Component > Deduction component. |
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3 |
Select the Calculation Type (either Percentage or fixed Amount) |
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4 |
Enter the value and tick or untick if its taxable or pensionable. |
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5 |
Click Create Component. |
Work Schedule
This module allows you to set the standard working days for your organization. This schedule will be used to calculate payroll and proration unless overridden for individual employees.
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Steps |
Actions |
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1 |
Go to Settings > Salary Components. |
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2 |
Select Workdays > Create new schedule |
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3 |
Put a work schedule name |
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4 |
Select a work weekday |
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5 |
Click Update policy |
Note: Changes to work schedule will affect payroll calculations for all employees using the standard schedule.
Standard Pay
Frequencies
These are the
predefined pay frequencies available for your organization i.e. (weekly, bi-
weekly, monthly, quarterly etc.)
Info: Standard frequencies are predefined and cannot be modified. Use custom frequencies if you need different pay cycles.
Display Settings
This helps you control what information appears on employee payslips i.e
company contributions.
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