Difference between revisions of "Arrears Configuration"

From JUNO Wiki
Jump to: navigation, search
(Created page with "You can get the amount of the additional salary ('''Arrears''') from the '''arrear''' document given by your employer. Now you have to subtract the '''arrear''' from the total...")
 
(Step by Step)
Line 24: Line 24:
  
 
== '''Step by Step''' ==
 
== '''Step by Step''' ==
 +
 +
====== Configuration ======
 +
[[File:Arrear Configure Component.jpg|center|frameless|991x991px]]
 +
 +
====== Formula ======
 +
[[File:Component Formula.jpg|center|frameless|977x977px]]
 +
 +
====== Arrear Cycle ======

Revision as of 08:01, 17 April 2020

You can get the amount of the additional salary (Arrears) from the arrear document given by your employer. Now you have to subtract the arrear from the total salary received (including the arrears), which can be taken from your Form 16. After knowing the amount after arrear, you need to calculate the tax over the same.

Roles

Finance Admin

Path

Salary » Employee Arrear Configurations

Inputs Needed

  • Salary for the month in which the arrear is to be paid must be unpublished.
  • Arears should be configured before the calculations are done.

Purpose

  •  On an individual component
  1. a. Arrear configuration can be directly configured, from the screen where formula to calculate a specific component is defined. Arrear calculation cycle can be created, e.g. 7% increase in DA declared in July w.e.f. March, and then 2% increase again on DA declared in august w.e.f. April.
  2. b. Against every cycle, payment disbursement cycle can be configured. E.g. number of installments to be paid in specific months.
  • Back Dated increment :
  1. If salaries are already paid for months July and August. And in the month of September increment is announced for employees w.e.f. 1st July, then complete recalculation of salary needs to be done for July and August months. September month can be paid at one go using new BASIC-PAY value.
  2. To achieve the above case while recording the increments for the employees we will need to define the increment w.e.f. date and increment order date separately.
  • Able to view formula for arrear component.
  • Able to view month wise arrear calculation details.
  • Able to view arrear amount to be given to employees.
  • Able to freeze calculated arrear amount to be given to employees.

Step by Step

Configuration
Arrear Configure Component.jpg
Formula
Component Formula.jpg
Arrear Cycle